3918 Trump's Tax Plan Triggers Liberal Meltdown | True News
Democrats and the modern left are melting down over the advancement of President Donald Trump's tax plan. Is President Donald Trump's tax plan a "scam" as liberals claim, or do they have other reasons for opposing it? Your support is essential to Freedomain Radio, which is 100% funded by viewers like you. Please support the show by making a one time donation or signing up for a monthly recurring donation at: http://www.freedomainradio.com/donate
Have you ever tried to help a really crazy person?
Ever? It's a wild and dispiriting ride.
I knew a woman when I was younger.
She had some really, really out there beliefs.
Let's just say she was not exactly in my life by choice.
And I tried to help her.
I tried to talk her out of her crazy beliefs.
And, naturally, there was this escalations, rage, and so on.
So then I tried another tactic.
I remember, and I thought, I know, I'll do this in a public place, because that will be safer.
And we went to Pizza Hut, and I said, you know, something like this.
I said, listen, I understand you feel hunted, you feel persecuted, you feel like people are out to get you.
I'm not going to fight with you about any of that anymore.
Let's just say it's all true.
I accept it. Now, Being hunted, being pursued in this kind of manner is very stressful.
And maybe what you can do is you can read a couple of books on stress.
Like there's a library right across the street.
We can go over there right now. You can read a couple of books on stress so that you can figure out how to minimize the stress that this persecution is causing you.
And she went nuts. And she threw a pitcher of water at me.
And let's just say things did not go well.
From there. And that's what it's like when you can clearly see how someone's belief system is going to make them both dangerous and miserable.
Two things that often go hand in hand.
If you've ever tried to talk someone out of crazy beliefs, when you know clear as daylight, as certain as the sun rises tomorrow, you know that their beliefs are Are going to make them miserable and alone and bitter and it's going to just destroy their life.
That their life is going to be like this little flower and their belief system is like this big giant bulldozer that is just going to plow it under the wet earth of regret.
And you try and talk them out.
Have you ever tried that? You know, if you haven't, I'm not suggesting it's fun, but it can be very, very instructive to spend time with people who would rather be right than happy.
And this all came to my mind when I woke up this morning and found that the Senate has passed in the U.S. these huge revisions to the U.S. tax code.
I think it was around 2 o'clock in the morning, using not dissimilar tactics than the Democrats used to push through Obamacare.
Now, of course, the Democrats are outraged that their tactics are being used against them, which is what I have been suggesting for quite some time.
Hopefully people out there are listening.
And of course, there was a lot of internal divisions.
Suddenly, suddenly you see the Democrats were very, very concerned with deficits and with debt.
And it is kind of a funny thing to watch Democrats pretend to be concerned about deficits, kind of like watching Michael Moore pretending to care about calories.
Now, the bill includes about $1.4 trillion in tax cuts.
That is the lowest.
Or the biggest tax cut in American history.
So that's quite a lot.
And given how much taxes have ballooned over the past generation or so, it's really...
I mean, it doesn't return things back down the ladder that much.
You know, it's like when they say, austerity, it's austerity.
If a guy's been living on 10,000 calories a day and then you say 9,000 calories is your limit, I don't think he gets to scream starvation diet.
I mean, maybe he does, but who's going to take him seriously?
Now, America has one of the highest corporate tax rates in the world at 35%.
And the goal is to reduce it to 20 and the low 20s, whether it's going to be 20 or 22 or whatever, it remains to be seen.
And the high corporate tax rate is one of the reasons why there's this drive for cheap third world labor to come into the country.
Because when the corporate taxes are very high, well, then corporations need to find other ways to save money.
And so bringing in skilled or unskilled labor from the third world, you know, the H-1B visas and all that kind of stuff, is one of the ways that they fight back against this ridiculously high corporate tax rate.
And there's going to be a reshaping of international business tax rules, and there's going to be a lowering of individual taxes.
But don't worry, folks. It's only temporary.
You remember how all those tax increases are temporary?
Well, now it turns out that the tax lowering is temporary as well.
There's other things embedded.
They want to open up the Arctic National Wildlife Refuge to oil drilling.
Which environmentalists should be very, very happy about, because the West is going to consume oil, and particularly if you want massive third-world immigration into your country, well, you're going to have to provide housing and roads and cars and schooling and education and healthcare and so on.
All of that is massively consumptive of energy, so the environmentalists should be overjoyed, because now money isn't pouring into repressive countries.
Middle Eastern regimes, feminists should be overjoyed because money isn't being poured into female repressing Middle Eastern regimes, but instead it's going to be kept local.
And also, of course, there won't be these big, giant, dangerous supertankers as much floating back and forth across the ocean just waiting to spill their guts on all the innocent wildlife you could lay your coat of oil on.
So everybody should be...
Of course they're not, which we'll get to.
So another big deal is the repealing of the mandate that individuals purchase health insurance.
And that knocks out one of the central tunnel supports in the 2010 Obamacare Affordable Care Act.
And this is really quite something.
This, you're breathing, therefore you have to buy something, is such a violation of property rights and personal freedoms that it is truly astonishing that it passed...
Well, not astonishing given the stranglehold that the left has on the media and had, of course...
On the U.S. government, but it is such a violation of basic private property that this is going to put a big hole in the support structure for Obamacare.
And it is truly astounding, too, because this is a massive tax.
Like, if you don't buy your health insurance, you have to pay a tax.
Somehow, Obama and his minions were so incompetent when it came to raising taxes...
That the taxes were going to cost the government about $340 billion over 10 years.
Now that is quite an inefficient tax, to put it mildly.
So that's going to be fascinating.
For those, of course, who don't know, one of the great moments of rational cynicism regarding the government was in Canada here, when I first began to really learn about taxes.
I was told... That taxes in Canada were introduced, I think it was 1917, as a temporary war measure.
Temporary war measure. So don't worry.
I guess you just have to have perpetual war to keep your war measure going, which is one of the things that has happened.
When the income tax first came into America, only 1% of Americans had to pay it.
It was never, ever, ever intended or sold as a tax that most Americans would pay.
Now, of course, this is returning, or not stealing at gunpoint, the money that people have earned, hopefully, in the free market.
And as it respects people's hard work, it respects their capacity to save, it makes education more valuable by lowering taxes, it does all kinds of wonderful things.
Thou shalt not steal has been expanded slightly in the American economy, so naturally the Democrats oppose it tooth and nail.
So here's a little run-through of Democrats and their history.
So there was the 13th Amendment to abolish slavery, which had 100% Republican support and only 23% Democrat support.
There was the 14th Amendment that gave citizenship to freed slaves.
It had 94% Republican support and 0% Democrat support.
The 15th Amendment, which gave voting for everyone 100% Republican support, 0% Democrat support.
So if your bill is being opposed by Democrats, historically, let's just say, history may look somewhat kindly on it.
Now, the Senate plan cuts the corporate tax rate 35% to 20% or so in 2019.
The House plan does so in 2018.
And both of these plans, they cut income tax rates, they double the standard deductions and eliminate personal exemptions, a variety of personal exemptions.
There was, of course, a goal to have fewer tax brackets.
The Senate plan keeps the current seven income tax brackets, but lowers some of these rates.
And they revert to the current rate in 2021.
Five. Now, this lowering of the maximum corporate tax rate from 35% to 20% or so, the Senate wants to delay this change until 2019 because they say, well, we want to save $100 billion in revenue loss.
And that is, I mean, talk about a false dichotomy.
If you lower taxes and you increase economic activity and you get more people off welfare, more people into the workforce, then they're not consuming money.
From the body politic, they're contributing to the body politic.
So the idea that anybody knows how this is going to go and there are all these projections out there.
I mean, I actually take global warming projections more seriously than I do economic projections.
If anybody knew where the economy was going, they would be multi-zillionaires.
You know, it's just funny to me.
I know where the economy is going to go.
How much do you have in the bank?
$50,000. Then you don't.
Because if you know where the economy is going to go, then you know where to invest.
You know where companies are going to go.
You're going to make a complete and total fortune.
So anyone who doesn't functionally own the planet, Dr.
Evil style, I don't care what they say about the future of the economy.
With the one exception that I did talk about bitcoins when they were very, very cheap.
So I hope you listened.
Now, of course, the U.S. does have one of the highest corporate tax rates in the world, but most corporations don't pay much more than about 15%.
Why? Because they can bank stuff offshore.
They have all these subsidiaries.
They can shuffle stuff around.
They have massively high-priced tax attorneys who can help them avoid paying the 35%.
So another way of understanding how people say, oh, it's cheating, it's cheating.
No, no, no. Here's what you need to understand about the corporate tax rate.
Big corporations love it.
Big corporations love it because they can afford to lobby.
They have the existing relationships with government to make sure that they find ways around the rules.
They have high-priced tax lawyers.
They have high-priced Attorneys, they have high-priced accountants, which allow them to bypass the Byzantine maze of regulations and end up paying low taxes.
Not many mom-and-pop shores have massive subsidiaries overseas that they can shuffle money around.
They don't have big offshore bank accounts.
Big companies love more and more complex and high-priced regulations because it discourages other people, smaller companies, more nimble companies, from interfering in their racket, from stepping into their turf.
Competition at bay.
If you can overcomplicate things, well, they've got the high-priced people to keep their taxes down and make sure they're compliant.
So when they look at a stack of regulations, they see a stack of money.
When you look at a stack of regulations, you're like, oh, well, I could stop my own business, but it's very dangerous and I can't possibly read all that stuff.
Maybe I'll just go work for someone else.
And so what happens is then you end up paying for all of these high-priced people to keep taxes low by having your salary reduced to pay for their salaries.
And you end up working for people rather than competing with people, which companies like.
So it keeps entrepreneurs leashed to a company and it reduces competition.
So this is going to be extraordinarily good for smaller businesses, for people who want to do startups, and people who...
Hire a lot of people in the world.
Now, there is...
And I'm just reading some of the comments about this stuff.
There's this kind of false dichotomy that floats around with this stuff.
They say that the Senate plan would help businesses more than individuals.
And through 2027, business taxes would be lower overall.
But individual taxes at every income level would increase by 2027.
Ugh! This class-bathing crap?
I mean... Ah, there's a reason why they don't teach any basic economics in junior high school, which is where they should.
I mean, you could eliminate socialism in one generation.
Boom! At least among competent and intelligent people.
You could eliminate socialism in one generation.
The simple way to do it is do something called Marxism.
That's M-A-R-K-S-I-S-M. Marxism.
So what you do... Is let's say the kids are...
What's the first year where your grades matter for university?
Like when you're 15 or so or 16?
So let's say one year before that.
Or if kids don't learn that lesson, make it one year when their grades begin to count for university.
And what you do is you say to the kids this.
You say, okay kids, this class is a class on economics.
And you just teach the class regular old ways.
And then what happens is, maybe halfway through the semester, or halfway through the year if it's a full year course, what you do is you say, okay, thanks everyone for working so hard, for studying, for learning this stuff, and for earning your individual marks.
Now, what we're going to do is we're going to take all of your marks and we're going to put them into a big bucket.
And then what we're going to do is we're going to hand out these marks to everyone.
Right? So if we've got, you know, 10,000 marks, we've got 100 students or whatever, like you do the math, and you say, okay, no one's going to get their individual marks anymore.
Everyone's going to contribute their marks.
Into a big bucket and we're going to distribute these marks evenly among the students.
And then what you do is you see what happens on the next test.
You see what happens for the remainder of the course.
Now everybody knows, of course, my daughter at the age of six understood this completely and totally.
It's really not that complicated. You know exactly what's going to happen.
What's going to happen is people are just going to stop studying.
And so the total number of marks that was there because people had individual rewards, they responded to the incentive of Marks to do the work and so on.
They worked hard because their profits were going to accrue to themselves individually.
Then people are just going to stop working, they're going to stop studying, they're going to try and free-ride off everyone else, and there'll be virtually no marks to distribute.
And then you say, okay, explain to me why people stopped studying.
Explain to me why the total number of marks, which was high in the first half of the course, explain to me why the total number of marks collapsed and there was nothing left to distribute by...
the end of the class now if you can explain that successfully you pass the course and if you can't you fail so and it should everybody will be able to understand it and then everybody will understand why socialism and marxism doesn't work marxism look for it it's what should be happening because that's this false dichotomy oh the the corporations these big sinister liandry style monstrosities they're getting away with murder and they're shafty me listen Corporate taxes go down.
Corporations have more money to invest, more money to grow.
They have more money to pay their employees more.
And so that's the way it works.
That's the way it works. Right now, of course, corporations eliminate a lot of the taxes or reduce the taxes by putting money overseas, by not expanding, by not growing.
And it makes corporations lazy.
Now, corporations are going to be somewhat resentful of this and, oh, you know, there may be some changes and so on, but...
The idea that corporations are somehow massively separate from employees, that if corporations pay less in taxes, that they're just going to hand out all of these profits to all of these executives who are going to turn it into liquid gold and bathe in it and shower in it.
I mean, actually, golden showers, let's not...
No, I don't want Matt Lauer writing in.
So this idea that corporations, it's just ridiculous.
You lower corporate taxes, and particularly if they can find a way to bring all of this trillions of dollars of American money overseas to bring it back, which, whether this will work or not, remains to be seen.
But this is, of course, one of the reasons why corporations go overseas.
Oh, it's free trade!
But the fact that Corporate taxes in America are about the highest in the world.
Well, that's one of the reasons why businesses go overseas.
This is why they go to China, why they go to Mexico, and so on.
Now, of course, you'll also hear that neither plan helps the lowest-income families.
The poor aren't even being helped by tax cuts.
Ugh. Ah, there's times when the chainsaw of truth should not be entirely allegorical, but we'll keep it civilized and rational.
So, here's a quick reason why these tax cuts don't particularly help lower-income families.
That's because more than 70 million Americans don't make enough money to pay taxes.
So, you know, you can't really cut taxes on people who don't pay taxes.
I literally cannot believe the things that I have to say.
Believe me, brothers and sisters, I cannot believe the things I have to say.
You know, we're reducing the price of hockey equipment for people who don't buy hockey equipment.
We're reducing the cost of sunscreen for agoraphobic shut-ins.
Matthew McConaughey when he's preparing for a role.
So, yeah, it doesn't really cut taxes on the poor because the poor don't contribute enough to society economically to end up paying taxes.
Now, people say both plans increased the deficit by almost $1.5 trillion over the next 10 years.
You know, if people could figure out what the economy was going to be like 10 years from now, we'd all be robot automatons populating...
The Marxist mommy fantasies of the resource-based economy gurus.
And central planning could work.
So, you know, when people say, well, this is how much these tax changes are going to affect the deficit 10 years from now, all you have to do is say, okay, quick, tell me what's the price of Apple stock in five minutes.
Come on. Come on.
Tell me. Tell me.
Well, okay. What's the price of Amazon stock tomorrow?
Just, you know, just, Jim, write it down.
Write it down. Beautiful.
What's the price of gold going to be?
What's Bitcoin going to be? Just, you know, 10 minutes from now.
Because, you know, you can do 10 years.
10 minutes. You know, if someone says, I can lift 500 pounds over my head.
It's like, okay, here's a pencil.
Give me a break. Voodoo economics, as long as the state's involved in the economy, it's all voodoo economics.
It's like trying to have physics when somebody's playing around with the sliders for physical properties and powers like God mode.
I don't know.
I can make gravity attract or repel based on this slider now.
Give me objective physics.
Now the government's continually interfering in things, so economics.
It's all voodoo economics. It's all nonsense.
So, yeah, to when people say, well, in 10 years, the deficit's going to be horrible.
I have more respect for tarot card readers.
At least they give people some emotional benefit.
But you have to be, like, genuinely, at some level, completely psychotic to think that you can predict what the economy's going to be doing in 10 years.
But, you know, I can't make any money in the stock market, but that's just because I choose to use my powers for good.
Now, there are a lot of financial institutions that love high taxes.
Right, so if you have a corporation, I mean, even if it's just your own personal corporation, right, you open up a bank account, and then what happens is you make a bunch of money goes into the corporation, and if taxes, personal taxes are high, you're going to keep a lot of that money in the bank.
You're not going to withdraw it, you're not going to spend it on capital improvements or whatever it is, you're going to leave that money in the bank, because if you take it out, you get taxed at the personal tax rate, whereas the corporate rate is often lower.
So, banks love high taxes because you keep your money in the bank, which gives them more to loan out and more stability and And all of that.
So again, there's lots of financial institutions that hate lower taxes.
So when people say, well, these tax cuts aren't going to help the poor, if they're on the left, then you just say, okay, well, what's your view on mass third world immigration?
And if they're like, it's diversity is our strength, then it's like, well, then shut up, because you don't care about the poor.
Unskilled immigration is Harms the poor enormously, particularly blacks and Hispanics.
So if you're into third world immigration, don't talk to me about how the tax cuts don't help the poor because you don't care about the poor.
And if you didn't care about the deficits under Obama, who doubled the debt, if you don't care about deficits under Obama, then don't talk to me about how this may contribute to deficits.
Nobody knows. It's ridiculous.
I mean, it's madness. Now, here's the important thing to understand.
Why are the Democrats opposing this?
Because... So there was this old argument that came out of the left.
The more extreme left in the 19th century.
And they said, to get to the magic socialist or communist society, here's what needs to happen.
You need to go from feudalism to capitalism.
And then when capitalism self-destructs, then...
You get socialism, you get communism, it's all beautiful.
And you can't go from feudalism to socialism.
You have to go through capitalism, capitalism.
So you should try and get capitalism implemented in your societies because that's what's necessary to get.
It's the portal, it's the door.
You have to go through capitalism to get to socialism.
And so a lot of the early socialists were very, very keen on establishing socialism.
Capitalism in societies, because that's how you get to socialism.
However, interesting, funny story.
Capitalism didn't fail on its own.
In fact, capitalism was enormously successful.
Enormously. Like, in the history of humanity, there has been no better or greater boon to the human planet than the free market.
There's nothing that comes close.
Nothing that comes close.
And no greater curse...
Then the hijacking of the wealth produced by the free market in order to serve central planning, socialism, leftism, totalitarianism of every stripe and hue, from fascism to communism.
And so leftists used to want the market to be implemented and they used to want the free market and they didn't like interference in the free market because they wanted the inevitable logic of the free market collapsing in on itself.
Like if you want to build a new house and there's a house there already, well, you want the house.
The house is going to have to crash, right?
The house is going to fall down. It's a lot easier, right?
Then you can just scoop it out and make the new thing, right?
So this changed when capitalism succeeded enormously.
And so what happens now is leftists believed that the market would fail on its own.
The market did not fail on its own, but instead helped the poor and did all the stuff that Marxism claimed it wanted to do.
Raised workers' wages, provided safer work environments over time.
And capitalism in the 19th century, as I talked about recently with Tom Woods, capitalism ended slavery because, I mean, there were moral reasons as well.
but the reason why... The tens of thousands of years long ancient curse of human slavery ended was because in the free market a slave is not very valuable.
Because a slave is like a piece of string.
You push it and it stops.
It doesn't have any motive of its own.
And so workers who are responding to incentives are much more profitable than slaves who are responding to punishment.
And so, capitalism ended child labor.
Capitalism emancipated women in many ways.
Capitalism ended slavery.
Capitalism, I mean, more than doubled workers' wages and their consumption of calories.
Human populations exploded.
I mean, and don't forget, and then I don't want to minimize this.
Capitalism produced the kind of wealth that allowed governments to pillage and appropriate that wealth and use the wealth generated by the free market as collateral for wars and subjugations and imperialism.
So the problem was there was still too much government when capitalism produced all of this wealth.
It could be harnessed, right?
And so it's actually fascinating, almost psychologically or sociologically, that almost to the last dollar, the wealth generated by the 19th century free market was destroyed by the family warfare of governments running World War I.
Almost down to the last dollar, all the wealth that was created was wiped out and destroyed.
And so when you have a free market, it feeds the state.
It feeds freedom, it feeds the individual, it feeds the state.
So leftists no longer want the market to be implemented and to be free to fail on its own.
Now they want the market to fail.
They want the market to fail.
And like the woman I talked about at the beginning, that she's paranoid, believed people were out to get her, couldn't be talked out of it because she'd rather be miserable than wrong.
And so the problem with the tax cuts for the left is that they'll work.
The problem is not that they'll add to the deficit.
They don't care about that. The problem is not that they'll harm the poor.
They don't care about that because they're importing all these people from the third world, harming the poor.
They're importing all of these H-1B visa people.
They're very keen on that, as are the rhinos, as are the big corporations.
So they don't care about the poor.
They don't care about death.
They don't care about deficits. They do care That the market is going to succeed, and the market will succeed.
Tax cuts automatically lead to deficits, which is nonsense.
Now, Reagan did this.
He cut a lot of taxes, but the federal government grew by two-thirds under his watch.
So if you're going to cut taxes, then you're going to cut spending.
And the idea that...
Spending is this physics.
And I know that there's a lot of stuff that's outside, like mandated spending, that's really, really tough to do anything about when it comes to Congress.
But the idea that government spending is just this physics.
You can't change it. It's, well, if there's, we have to cover the spending.
It's ridiculous. If your income goes down, you cut your spending.
But I've had times in my life where I've lived real close to the bone.
Because either my income is very low, because I was in college or doing grad school, or because I was in debt for a variety of reasons, then you eat home.
You don't go anywhere.
You keep your entertainment as cheap as humanly possible.
And when I was a teenager in my early to mid-teens, I played a lot of Dungeons& Dragons.
Why? I was broke.
Working three jobs, been on my own, paying my own bills with others since I was 15 without parents.
Supervision, control, security, income.
So you just, you cut back.
And so this idea tells you a lot about this mentality.
Well, if taxes go down, deficits will automatically get larger.
No. You just cut spending.
But they don't want to cut spending.
Why are people so incensed about tax cuts?
Because they rely on government income.
It's not that complicated. You are their livestock, and farmers are not happy when their livestock break free.
When the cows say, nope, no, no, no, no, no.
You can't have 50% of my milk.
You can only have 45% of my milk.
I'm keeping some of my milk for my own damn babies.
So farmers get really mad when the livestock don't want to produce for them.
The livestock want to keep stuff for themselves.
So everyone who's dependent...
On government for their income, tax cuts are terrifying to them because it interferes with the flow of goods that are coming their way.
They don't care about ethics. They don't care about virtue.
They don't care about integrity.
They don't care about property rights.
They don't care about basic human virtues.
They care about getting their conveyor belt of free stuff.
And tax cuts represent a potential diminishment in the amount of free stuff they might get from the government, which gives them some basic human responsibility in adulthood, which apparently they are allergic to.
Everybody who's railing against tax cuts is either profiting From free stuff personally, like they get free stuff from the government, or they're profiting from it politically in that they get to offer those stolen goods to other people in return for votes.
So it's another one of these clear dividing lines.
