Rubin Report - Dave Rubin - Unexpected Trump Move, ‘Apprentice’ Reboot, Seattle Tax Backfires | 5/1/26 FIRST LOOK
Aired: 2026-05-01
Duration: 08:52


=== Expanding Retirement Accounts Nationwide (05:27) ===

[00:00:04]  Hey, everybody, I'm Dave Rubin, and this is First Look.
[00:00:07]  It's Friday, May 1st, 2026.
[00:00:10]  We've got a packed show for you today.
[00:00:12]  President Trump rolls out a major retirement overhaul that could impact 56 million Americans.
[00:00:19]  Amazon floats a reboot of The Apprentice, and Don Jr. may step into the spotlight.
[00:00:25]  A socialist Seattle mayor literally laughs as millionaires flee and businesses start following them out.
[00:00:33]  Let's dive in.
[00:00:34]  President Trump has signed a major executive order aimed at reshaping retirement access in America, and this one could impact tens of millions of workers who currently have nothing.
[00:00:45]  The core idea is simple Trump wants to expand retirement style accounts, similar to what federal employees already have, to Americans who don't have access to a 401k or employer sponsored plan.
[00:00:58]  And that's a big number.
[00:01:00]  According to Pew Research, about 56 million Americans fall into that category.
[00:01:05]  Including gig workers like Uber drivers, freelancers, contractors, and even small business owners.
[00:01:12]  At the signing, Trump framed it as a fairness issue.
[00:01:15]  I promised to make the same types of retirement accounts enjoyed by federal employees available to all Americans.
[00:01:22]  It only seemed fair.
[00:01:24]  Here's where it gets interesting low income earners will now qualify for a federal matching contribution of up to $1,000 per year, essentially free money added to their retirement savings.
[00:01:37]  That applies to Individuals making under $35,500, heads of household under $53,250, couples earning under $71,000 combined.
[00:01:52]  Trump called the move revolutionary, arguing it brings millions of Americans into the retirement system who were previously left out.
[00:02:00]  And he even gave a specific example.
[00:02:02]  A 25 year old investing just $165 a month, with the federal match included, could end up with roughly $465,000.
[00:02:13]  By age 65.
[00:02:15]  Trump's takeaway?
[00:02:16]  In other words, they'll be rich.
[00:02:19]  Now, this builds on something already in motion.
[00:02:21]  A 2022 law created what's called the Saver's Match Program, but about 27 million eligible Americans still haven't enrolled.
[00:02:31]  This executive order is designed to fix that gap and expand it further.
[00:02:35]  The Treasury Department is also launching a new platform, TrumpIRA.gov, set to go live January 1, 2027.
[00:02:44]  Where Americans can apply and connect with financial institutions offering these accounts.
[00:02:50]  There's also a broader ecosystem forming here.
[00:02:53]  Earlier this year, the administration launched Trump Accounts, giving kids born between 2025 and 2028 a $1,000 starting balance in tax advantage savings accounts.
[00:03:06]  So this isn't just a one off policy, it's a full on push to reshape how Americans build wealth long term.
[00:03:13]  And politically, the timing matters.
[00:03:15]  This comes as Trump heads into the 2026 midterms, clearly aiming to show tangible economic benefits, especially for working class Americans.
[00:03:26]  Congress may still need to codify parts of this, but the direction is clear.
[00:03:31]  This is about expanding ownership, savings, and investment, not government dependency.
[00:03:37]  Now to a story that blends politics, media, and culture.
[00:03:42]  Amazon is reportedly exploring a reboot of The Apprentice, the show that helped launch Donald Trump into a national figure.
[00:03:50]  And they're considering a very familiar name to host it Donald Trump Jr.
[00:03:55]  According to reports, Amazon executives have held internal discussions about reviving the franchise, though they say nothing is officially in development yet.
[00:04:05]  Still, the fact that it's even being discussed is significant.
[00:04:08]  The original show debuted in 2004 and pulled in as many as 20 million viewers, turning Trump into a household name as a business authority.
[00:04:18]  And yes, that cultural impact ultimately played a role in his path to the presidency.
[00:04:23]  Now, fast forward Amazon owns the show's library after acquiring MGM in 2022.
[00:04:30]  And if a reboot happens, it would stream on Prime Video.
[00:04:33]  Interestingly, a source close to Don Jr. says he only found out about the idea by reading it in the press, so even he hasn't been formally approached yet.
[00:04:43]  Amazon is publicly downplaying things, saying, The show is not in active development.
[00:04:48]  Any reporting on potential hosts is speculative.
[00:04:51]  But here's the bigger context Amazon has already been deepening its relationship with Trump World.
[00:04:57]  The company recently paid $40 million for a documentary about Melania Trump.
[00:05:02]  Then spent another $35 million promoting it globally, including NFL ads and a theatrical rollout.
[00:05:10]  That raised eyebrows, even inside Amazon, with employees questioning both the scale and the optics.
[00:05:17]  Some critics also pointed out that Melania reportedly had editorial control, blurring the line between documentary and political messaging.
[00:05:25]  Amazon pushed back, saying they did it for one reason because we think customers are going to love it.

=== Seattle Loses Tax Revenue (03:20) ===

[00:05:32]  Now layer in the Jeff Bezos factor.
[00:05:34]  Bezos, once openly hostile to Trump, Has taken a noticeably different tone since Trump's 2024 win, praising his extraordinary political comeback and signaling openness to working with his administration.
[00:05:48]  That shift comes as Amazon secures tens of billions in federal contracts and continues dealing with regulatory pressure.
[00:05:56]  Meanwhile, Bezos' Washington Post has been in turmoil, losing about 250,000 subscribers, facing over $100 million in annual losses.
[00:06:08]  And dealing with backlash after blocking a Kamala Harris endorsement.
[00:06:11]  So, when you step back, this isn't just about a TV reboot.
[00:06:15]  It's about culture, media, politics, and the continued gravitational pull of Trump in all three.
[00:06:22]  And finally, a story that perfectly captures the mindset driving some of America's most troubled cities Seattle's new mayor, Katie Wilson, a self described Democratic socialist, is openly shrugging off and even laughing about wealthy residents leaving the state over high taxes.
[00:06:39]  During a public event at Seattle University, she was asked about concerns that progressive tax policies could drive millionaires out.
[00:06:47]  Her response the claims that millionaires are going to leave are super overblown.
[00:06:52]  And if they do, bye.
[00:06:54]  That line got applause.
[00:06:56]  Now here's the problem the data suggests the opposite.
[00:06:59]  Seattle could lose up to $750 million in tax revenue in the coming years, and major businesses are already making moves.
[00:07:08]  Starbucks just announced it's investing $100 million.
[00:07:12]  To expand operations in Nashville, Tennessee, bringing 2,000 jobs, not to Seattle, but out of Washington state.
[00:07:20]  And this isn't happening in a vacuum.
[00:07:21]  Seattle now has the highest combined state and local sales tax in the country 10.35%.
[00:07:29]  That's after an additional tax hike passed in King County.
[00:07:32]  Wilson herself admits the city has a large structural budget deficit and is scrambling to figure out how to fix it.
[00:07:39]  But instead of dialing back policy, she's doubling down.
[00:07:43]  She says her administration is exploring more progressive taxation options while also claiming they won't raise the cost of employing people, which, frankly, is a tough balancing act.
[00:07:54]  She's also been compared to New York's Zorhan Mamdani, another Democratic socialist pushing ideas like government run grocery stores, despite a long track record of failure.
[00:08:05]  And there's more.
[00:08:06]  After winning the election, Wilson even joined a Starbucks protest picket line, saying, I am not buying Starbucks, and you should not either.
[00:08:14]  So let's connect the dots.
[00:08:16]  Businesses leaving, tax revenue shrinking, budget deficits growing, and leadership openly mocking the people funding the system.
[00:08:24]  That's not a growth strategy.
[00:08:26]  That's a blueprint for decline.
[00:08:28]  And that's your first look this Friday.
[00:08:29]  Quick recap Trump expands retirement access to tens of millions, with real money on the table for working Americans.
[00:08:38]  Amazon flirts with bringing the apprentice back, and Don Jr. could be part of it.
[00:08:43]  And in Seattle, leadership laughs as wealth and jobs walk out the door.
[00:08:47]  We'll keep following all of it.
[00:08:49]  I'm Dave Rubin.
[00:08:50]  Thanks for starting your day with First Look.