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Oct. 16, 2022 - X22 Report
21:27
Ep. 2900a - Trump: Taxes Have Consequences, [CB] On Deck
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Hi, and welcome.
You're listening to the X22 Report.
My name is Dave in this episode, 2,900A, and today's date is October 16th, 2022, and the title of the episode is, Trump, Taxes Have Consequences, Central Bank on Deck.
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Let's get into the economic collapse financial news.
Now, the Deep State, the Private Western Central Bank, the World Economic Forum, they're having a very difficult time.
As they continually push their agenda, the people see the truth and the people are going to respond to what they're doing.
And this is what we're seeing worldwide right now.
And it is growing and growing and growing.
Realtoria Brooke on TrueSocial put this out.
It says, don't stop me now.
Citizens of Belgium fill the street to protest number of issues.
The EU, World Economic Forum, the media, and more.
This is a continuation of series of protests that occurred over the last few months.
And what we're seeing right now is as the economy gets worse and the energy crisis gets worse, The people, they wake up.
The people see the truth.
Because everyone has this in common.
And when they see their corrupt leaders do absolutely nothing but cause the problems, because they're in line with the Central Bank, in line with the World Economic Forum, the people push back.
Remember, the only way to destroy the private Western Central Bank system is to get the people involved.
The only way to destroy the deep state system is to get the people involved.
And what is happening right now is that their entire central bank economy is completely being exposed.
And as it's continually being exposed, people start to realize this economy that we've been in for a very long time does not benefit the person.
It benefits the private Western Central Bank and the criminal syndicate.
And as people see more and more of this, the people are going to push back.
I mean, look what's happening out in Germany right now.
We know that there's an energy crisis coming.
We know the winter is going to be hard for many, many people.
We're seeing inflation all over the place.
And just recently released is declassified documentation that reveals the German government believe buying more gas from Russia wouldn't damage European security.
Now, remember, Trump said, listen, you're dependent on Russia right now.
This is a problem.
And they all laughed at him.
And who was right?
And it seems that they thought that this wasn't going to be a big problem, but it really is.
And now the people, as they're freezing, as they can't turn on lights, as they can't cook their food, the people are going to start to push back.
We're going to see this worldwide.
We're already seeing it in here, in this country, in the United States.
People aren't buying what Biden is saying or his administration where they're telling us the economy is great or the hot economy is now trying to cool down.
We're in a recession.
The economy is a complete and utter disaster, and it's getting worse and worse every single day.
And everyone's starting to realize it's their policies that are driving all of this.
It's their policies that are driving inflation, higher fuel costs.
And the people now realize this.
And the people are waking up.
More and more people are waking up than ever before.
And one thing that the economy does, it brings people together because the economy doesn't care about your political affiliation.
It doesn't matter what race you are.
Everyone feels the same pain at the same time.
And that's what people are experiencing.
Everyday people that are going to work, supporting their families, they're feeling the pain.
And as people feel the pain, they start talking about it.
And there's a common denominator in all of this.
And both sides point to the same exact thing.
And then they start talking about what they've done here.
They start talking about electric cars.
They start talking about climate change.
They start talking about inflation, higher fuel costs.
And they start talking about, hey, what have they really done to try to solve these problems?
Actually, everything that they've been doing, it's been making this problem a lot worse or they've caused the problem in the first place.
Look at the electric vehicle.
Remember, they came out and they said, oh, look, $7,500 tax credit on your electric vehicle.
Well, it seems that this is completely falling apart.
And remember, a lot of these companies, they upped the price of their electric vehicles $7,500.
But this whole Inflation Reduction Act, which is actually the opposite of what it's really doing.
Remember, this is what Biden signed in August.
And it created a tax credit for consumers who would like to buy a new electric vehicle.
Well, the clean vehicle credit that's worth $7,500, it's non-refundable, meaning buyers need to have a federal tax liability to get full or partial benefits.
The credit also comes with assembly manufacturing and other requirements that may initially limit consumers' tax breaks.
But it may be tough for consumers to get the full value of the tax credit.
High-income consumers We're generally be most likely to benefit from the full credit value relative to those with modest earnings since they typically have larger tax bills.
But the credit comes with some additional restrictions such as an income tax that will restrict how many of those households can benefit.
Meanwhile, middle and lower income buyers typically have small tax bills, meaning it's more likely they wouldn't collect the full credit.
Think about this for a second.
So the people who have middle or low income, are they getting this electric car?
Are they going to benefit?
No, they're going to suffer.
And once again, we can see the true agenda here.
Now, do the people out there, are they buying what the Biden administration is selling?
Are they buying what the Federal Reserve is saying?
Are they going along with the World Economic Forum?
No.
When you start to look at the polls, the people are completely against everything that is happening right now, and the movement is growing larger and larger every single day.
Election Wizard put this out on Telegram, and it says, No difference, not sure.
Now, this is a CBS News YouGov poll, and it says 48%, they're saying it's harming the economy.
29% says it's helped the economy.
23%, no difference, not sure.
Now, as fuel prices rise and inflation gets worse, where do you think these numbers are going to go?
You're going to see a lot more people saying this is harming the economy, everything that they're doing.
Now, here's the other question.
Inflation, Biden administration, could be doing more?
Is doing all it can.
So is the Biden administration doing everything they possibly can?
Well, 68% say no, he could be doing a lot more.
32% say is doing all he can.
You think this number is going to start to change?
Because people are going to start to realize that these individuals that are pushing their agendas, they're just going to make everything worse and worse as time goes on.
Remember, They're masking everything right now before the midterms.
After the midterms, these numbers are going to skyrocket.
The people are going to start to really see the agenda of the deep state, of the World Economic Forum and the private Western Central Bank.
And I'm sure that these poll numbers are going to look very, very different because the economy is going to change.
Remember, we're in a recession right now.
They can pretend we're not.
Remember how the game is played.
They're going to go back in time and say, by the way, the recession actually started in February of 2022.
And they'll say this sometime in 2023.
But right now, the people realize that we're in a recession.
Trump, he retruthed this from Phil Kirpin.
It says annual CPI inflation rate, Trump and Biden.
It shows the graph.
And we've went over this before.
Now, the inflation rate was declining under Trump.
From 2017 all the way to 2021 when Trump left office.
It was on a downward trajectory.
And then as soon as Biden came into office and they passed all this stimulus and all their bills that they passed that put more currency into circulation, inflation skyrocketed like we've never seen before.
And the people now see the truth.
They see the difference between Trump and what he was doing with the economy and the agenda of the deep state, the private West Central Bank, the world economic forum and what they're trying to do.
And yes, the Biden administration, they're trying to explain it away.
They're trying to gaslight everyone, but it's not working.
Every step of the way, it's going to get worse and worse.
I saw that Biden was eating ice cream to help, I guess, with his dementia or whatever he has.
And they asked him a question about the economy.
He says the economy's strong.
I saw someone from the Winehouse saying that, oh, the red hot economy is now cooling.
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When you really look at the numbers and you look at what the economy is doing, the economy is a complete and utter disaster.
When was the last time we saw inflation this high?
Actually, it's a lot higher than this, but remember the numbers are manipulated.
This was back in the 70s.
And then all of a sudden, inflation was cut down.
Who did that?
Oh, that's right.
It was Ronald Reagan.
And now look, now we're seeing inflation just continually moving up.
And I do believe this is going to go way past 9%.
Now, the other thing that's very interesting about all of this is that we can see that the Federal Reserve individuals that are part of the private Western Central Bank system, which they're all criminals themselves, we can see one by one, they're getting caught In their activity, their criminal activity.
So it seems that the Atlanta Fed president reveals five years of trading violations.
Now he's claiming he didn't understand the disclosure obligation, but he's the head of the Atlanta Fed.
He doesn't understand this?
So one year after the Fed was rocked by the trading scandal, which cost the jobs of three Fed henchmen, including Dallas and Boston Fed presidents, Kaplan and Rosengren, and Fed vice chair, Richard Clarita, after their financial disclosure showed that they've been trading extensively in individual stocks in 2020 during the period in which the Fed engaged in extraordinary market interventions as a result of the COVID pandemic.
And now we have the Atlanta Fed president, Rafael Bostic.
He just joined the club and he's pretending that I have no idea what you're talking about.
And here we are once again.
With these individuals, but I do believe that all of this is going to be exposed.
Now, we have seen these Fed individuals get caught up and they've been exposed with their criminal activity.
What do you think is going to happen when they start looking at what the Fed was actually doing?
I do believe that this is going to come because to destroy the Federal Reserve and the private West Central Bank system, you need to expose it and you need to bring the truth out very, very slowly.
A lot of people don't know what the Federal Reserve is.
A lot of people don't realize that all of these central banks, they're private companies and they've been spread around the entire world to control and enslave the people.
And the people, they're just learning about all this.
Remember, going back in time, The federal government, they were bringing in the income from tariffs.
That's how the founding fathers actually wanted to fund the government.
Instead, when the private Western Central Bank was brought into existence, they passed the tax legislation because when you're borrowing currency with interest attached, who's going to pay for the interest?
Who's going to pay for this?
Well...
The people are.
And this is why they needed taxes.
We weren't supposed to have income taxes.
We weren't supposed to have any of these taxes.
And now it seems that Trump, he's kind of starting the narrative and starting to tell the story about taxes.
And I do believe this is going to start to move very, very slowly in the beginning to bring people into the fold.
Now, he put this out on True Social and he said, taxes have consequences.
Now, this is a new book that is out.
He wrote The Ford and it says, and this is what he says in True Social, Use this in-depth research to tell the real tax history of the United States.
My administration built on this history when we cut taxes in 2017.
Here is the full story from over a century of our American past.
So let me just read the forward, and this is what Trump wrote.
People need to understand how the economy really works, not how some professors wishes it would work.
In this book, you do have three PhDs who do understand And upon whom I have relied.
The logic theory and underlying statistical analysis of my tax bill is exactly what you'll find in taxes have consequences.
My 2017 Tax Cuts and Jobs Act was passed and signed into law on December 22, 2017.
In short, it accomplishes the following.
Over the next two years, from the fourth quarter of 2017 through the third quarter of 2019, U.S. growth went from slightly trailing the Eurozone to exceeding Eurozone growth by 2.5%, or almost $500 billion.
The U.S. poverty rate fell to its lowest level ever, 10.5%, as of the fourth quarter of 2019.
Real medium income rose to 68,703 by 2019, extending the largest increase in this metric in generations.
The U.S. unemployment rate fell to 3.5% in September of 2019, the lowest rate in a half a century.
Black unemployment fell to 5.2% in August of 2019, the lowest rate ever recorded.
Hispanic or Latino unemployment fell to its lowest rate ever recorded, 4% as of September 2019.
And finally, the unemployment rate for workers with less than a high school diploma also fell to its lowest rate ever recorded at 5% in July of 2019.
But for my friend Arthur Laffer and me, the peace day resistance came with federal tax revenues.
As we all know, whenever the corporation tax rate is cut by as much as we cut it by 40%, federal corporate tax revenues will fall mightily.
But as we knew then, and as the results now show, non-corporate federal tax revenues rose.
Business responded to the greater incentives.
They earned more.
Their workers earned more.
Products were produced more effectively.
tax shelters shrunk and non-corporate tax revenues rose by a good deal more than corporate rate tax revenue shrank.
In fact, in the two years following my tax bill from the fourth quarter of 2017 through the third quarter of 2019, total federal tax revenues grew by 7% or $245 billion from the two years prior to the tax cut.
That increase was substantially greater in absolute and percentage terms than was the increase up to the two years prior to my Tax Cuts and Jobs Act.
This revenue increase in only two years should be a lesson number one for all those who claim that revenues would fall following the tax cuts.
When marginal tax rates are cut, tax revenues sometimes don't fall.
And in this case, they didn't.
The tax cuts paid for themselves and did so within the first two years.
How's that for egg in your beer?
And even better, state and local tax revenues rose as well over the same time period.
Total government receipts increased by 8%.
Or $428 billion.
The sum total of my tax bill was a win-win for everyone.
Taxes have consequences.
Use this in-depth research to tell the real tax history of the United States.
My administration built on this history when we cut taxes in 2017.
Here is the full story from over a century of our American past.
Now, if you notice, he's bringing up taxes.
And when we have less taxes, the country does better.
So let's put this into perspective.
If we get rid of the taxes, and how do we do this?
Well, if we don't have the central bank and we don't borrow money with interest attached, then we don't need the tax rate.
How incredible would the economy be if we got rid of the central bank where we're not borrowing?
Borrowing currency anymore with interest attached.
If we're not borrowing currency with interest attached, then we don't need the income tax.
We don't need any of this.
Which means the country would grow like we've never seen before.
And I do believe Trump and the Patriots, they're leading up to this.
And this is why he's showing the people, look, you can have the Democrats in there.
You can have the central bankers, the deep state players, and they can continually...
Place more and more taxes on you, but it's going to hurt the country.
And you can see this in a lot of the blue states.
Look at LA, for example.
Look at California and LA. In this state and in this city and all the other cities, why are there so many homeless people?
How many taxes have they added?
Why aren't jobs being created?
Because they are continually taxing and taxing and taxing and taxing.
What did Biden just do?
He wanted to add more taxes.
He's doing it.
And you can see it's not helping the economy, it's hurting the economy.
And when you look at New York and you look at Chicago, you can see from everything that they're pushing, the opposite is happening.
And this is all caused by, and if you go back in time, the central bank.
When this came into existence in 1913, they needed a way to pay for the interest on the money that was borrowed.
And how do you do this?
Well, you need to tax the people.
Because you need the people to pay for it.
If you get rid of all of this, the people would prosper, companies would prosper, and everyone would prosper.
And I do believe Trump is leading us down this path.
And I do believe the central bank is on deck.
Remember, this has to be introduced very, very slowly because people don't understand.
And this is why people are seeing...
What inflation does, what the policies of the deep state, the private Western Central Bank, the World Economic Forum, and what their policies do to an economy.
And people now are seeing this.
And they're also seeing how the Federal Reserve really can't control inflation.
Inflation is going to start to move up again.
And they're watching all of this, and they're watching the economy completely fall apart as the Fed raises rates.
And I do believe this is going to lead us into that crisis now.
And we know it's approaching.
And this is going to give fuel...
To the patriots that have taken the House and the Senate and the fuel will allow them to pursue why this was done.
What is going on with the Fed?
Why couldn't they control inflation?
Why is everyone out of work?
What is going on here?
And I do believe, just like we've seen with the other Fed heads, I do believe a lot is going to be exposed when people start to learn the truth of the matter because they need to learn the truth because once you learn the truth, it's game over.
Once you learn the truth, you start to realize, wow, We've been living in this fake economy that they created and they enslaved us for a very long time.
And we've had to work harder and harder.
We're living in debt.
We can barely make ends meet.
And now with inflation roaring and gasoline prices going up, and now we have predictions of job loss, people are going to turn on the Federal Reserve.
They're going to turn on the World Economic Forum.
And I do believe all of this is building right now.
And I do believe the central bank, they are on deck.
Listen, everyone, thanks a lot for listening.
Be well, be safe, and especially be prepared.
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