WEBVTT - The DSA Wants to Dismantle the Government 0:00:00.280 --> 0:00:03.480 Welcome to the program. No thictocrats allowed, because we've got 0:00:03.480 --> 0:00:07.040 a country to say, so let's get her teed up. 0:00:12.840 --> 0:00:13.960 That subdiggo. 0:00:14.800 --> 0:00:17.279 You can't succeed with lt. 0:00:19.360 --> 0:00:22.640 Triple eight ninet seven one Sage Triple eight ninety seven 0:00:22.720 --> 0:00:24.959 one seven two four three. I am Larry Elder. We 0:00:25.040 --> 0:00:29.240 are Salem News Channel. President Trump says the war against 0:00:29.280 --> 0:00:33.840 Iran will end soon. What would happen to New York 0:00:33.880 --> 0:00:37.000 City if Mayor mom Donni truly got his way? A 0:00:37.080 --> 0:00:40.199 New York based hedge fund manager who went from donating 0:00:40.200 --> 0:00:44.040 to Democrats to supporting Donald Trump offers his scenario. Senator 0:00:44.120 --> 0:00:48.200 Chuck Schumer has endorsed Abdul l Said, who advocates cutting 0:00:48.200 --> 0:00:53.000 off all aid to Israel. Democrat Texas candidate James tallerco 0:00:53.040 --> 0:00:56.880 denounces the theory of trickle down economics. Here's a problem. 0:00:57.280 --> 0:00:59.960 There is and never was any such theory advocated by 0:01:00.080 --> 0:01:04.360 any economist. DSA leaders say it's a requirement now for 0:01:04.400 --> 0:01:11.160 their endorsed candidates to dismantle the US government. Former DNC 0:01:11.360 --> 0:01:14.280 chair David Hogg says there's no room for moderates in 0:01:14.319 --> 0:01:18.240 the Democrat Party. Ronald Reagan warned about Medicare for all. 0:01:19.200 --> 0:01:22.040 We will revisit my conversation with Dave Ruben, who at 0:01:22.080 --> 0:01:26.440 one time bought into the systemic systemic racism against blacks nonsense. 0:01:27.360 --> 0:01:30.520 The Senate Homeland Security voted eight to five down party 0:01:30.560 --> 0:01:33.280 lines to hold doctor Fauci in contempt of Congress for 0:01:33.360 --> 0:01:36.279 taking the fifth over one hundred times. Remember when Jimmy 0:01:36.319 --> 0:01:39.720 Carter in two thousand and five advocated photo voter ID 0:01:40.480 --> 0:01:43.240 we do all of this and more. Triple eight nine 0:01:43.319 --> 0:01:46.679 seven one shge triple eight nine seven one seven two 0:01:46.760 --> 0:01:51.240 four to three. I've read the platform of the DSA, 0:01:51.320 --> 0:01:53.880 especially the new one where they updated it, and now 0:01:53.880 --> 0:01:55.880 they want to get rid of the Senate, get rid 0:01:55.920 --> 0:02:05.680 of the electoral College, abolished ice in the carcerial state, 0:02:06.120 --> 0:02:11.040 incarcial state, meaning get rid of prisons. That well known 0:02:12.080 --> 0:02:15.079 political pundit Richard Pryor weighed in on the idea of 0:02:15.840 --> 0:02:18.760 getting rid of prisons number thirty eight. 0:02:21.560 --> 0:02:23.640 At least I don't have to look at them anymore. 0:02:25.720 --> 0:02:28.400 I went to penitentiary jan while I did a movie. 0:02:28.400 --> 0:02:30.240 I went to not me personally, I mean I went 0:02:30.320 --> 0:02:33.960 to do a film in penitentiary and it was I 0:02:34.040 --> 0:02:37.280 was up there six weeks Arizona State Penitentiary. 0:02:38.120 --> 0:02:39.880 It was something. Oh you're plaud that. 0:02:42.400 --> 0:02:44.560 Arizona State Penitentiary real popular. 0:02:46.480 --> 0:02:49.800 Oh man, it was strange because it's like eighty percent 0:02:50.160 --> 0:02:54.359 black people. And what's strange about that is that there 0:02:54.360 --> 0:03:00.560 are no black people in Arizona. 0:03:01.160 --> 0:03:01.919 I'm not lying. 0:03:02.000 --> 0:03:06.600 They both then, and I was up there. 0:03:06.480 --> 0:03:08.839 And I spoke at all the brothers, and it made 0:03:08.919 --> 0:03:11.280 my heart ate. You know, it's all the beautiful black 0:03:11.360 --> 0:03:14.480 men and the Joint Warriors should be out there helping 0:03:14.520 --> 0:03:15.120 the masses. 0:03:15.880 --> 0:03:17.200 And I felt that way. 0:03:17.240 --> 0:03:18.160 I was real naive. 0:03:18.280 --> 0:03:20.079 Right in six weeks, I was up there. 0:03:20.080 --> 0:03:22.639 I talked to the brothers, you know, and I talked 0:03:22.639 --> 0:03:30.320 to them and thank god we got penitents. 0:03:37.960 --> 0:03:42.160 I asked usaid, why did you kill everybody in the house. 0:03:44.920 --> 0:03:46.120 Because there was home. 0:03:48.160 --> 0:03:52.840 Now, this reminds me of what Tupac Secure said about 0:03:53.160 --> 0:03:56.840 the need for the police in black communities. 0:03:57.480 --> 0:04:00.640 Please, and the main thing for us to rem is 0:04:00.680 --> 0:04:04.400 that the same crime element that white people are scared of, 0:04:04.880 --> 0:04:09.160 Black people are scared of the same crime element that 0:04:09.200 --> 0:04:12.560 white people fear. We fear, so we defend ourselves from 0:04:12.600 --> 0:04:15.120 the same crime element that they scared of. You know 0:04:15.160 --> 0:04:17.479 what I'm saying while they waiting for the legislation to 0:04:17.480 --> 0:04:19.840 pass and everything, we next door to the killer. We 0:04:20.000 --> 0:04:21.600 next door to them, you know, because we up in 0:04:21.640 --> 0:04:24.240 the projects where it's eighty in the building. All them 0:04:24.320 --> 0:04:26.440 killers that they letting out, they right there in that building. 0:04:27.480 --> 0:04:29.440 But it's better just because we black, we get along 0:04:29.480 --> 0:04:30.919 with the killers or something. We get along with the 0:04:30.960 --> 0:04:32.479 rapist because we black and we from the same. 0:04:32.920 --> 0:04:39.040 What is that we need protection too? What is that? 0:04:39.040 --> 0:04:44.480 That's these DSA members primarily white, primarily extremely well educated, 0:04:45.200 --> 0:04:48.839 not living in black areas, telling you that we're gonna 0:04:50.680 --> 0:04:54.679 defund the police with the polls show that black people 0:04:54.680 --> 0:04:57.600 want the police to remain the same level, if not increased, 0:04:58.440 --> 0:05:00.640 And we're gonna let bad guys out of prison because 0:05:00.640 --> 0:05:03.279 they're not going to move to a morphat Vineyard, They're 0:05:03.279 --> 0:05:05.760 not going to move to the suburbs. They're going to 0:05:05.800 --> 0:05:07.920 move to the inner city where a lot of black 0:05:07.920 --> 0:05:12.080 and brown people live. This is what these people are doing. 0:05:13.760 --> 0:05:16.600 And ifjord Mombami got his way, what would happen to 0:05:16.640 --> 0:05:20.640 New York City. This is Bill Ackman. He is a 0:05:20.680 --> 0:05:25.200 billionaire hedge fund manager donated to Democrats for years until 0:05:25.200 --> 0:05:29.839 he switched and began donating to President Donald Trump number 0:05:29.880 --> 0:05:30.320 forty two. 0:05:30.600 --> 0:05:34.120 Let's talk about affordability. We start with rent or cost 0:05:34.120 --> 0:05:35.840 of housing. Why is the cost of housing so high 0:05:35.839 --> 0:05:40.719 in New York City Because unfortunately left wing mayors have 0:05:40.800 --> 0:05:44.200 made it very difficult for developers to build in New 0:05:44.279 --> 0:05:49.120 York City, and Mandami when he freezes rents, he's just 0:05:49.160 --> 0:05:51.120 going to make the problem worse. There are buildings in 0:05:51.120 --> 0:05:53.039 New York City, many, many buildings in New York City 0:05:53.200 --> 0:05:57.240 where half the tenants plus or minus are rent stabilized apartments, 0:05:57.520 --> 0:05:59.760 and so their rent is frozen and the other half 0:05:59.760 --> 0:06:02.279 a market. And so what does the landlord do in 0:06:02.360 --> 0:06:05.440 order to make generate enough cash flow to cover his 0:06:05.440 --> 0:06:08.680 interest expense is going to raise rents in the part 0:06:08.680 --> 0:06:11.000 of the because he can't raise them on half departments. 0:06:12.000 --> 0:06:12.200 You know. 0:06:12.240 --> 0:06:16.240 So there's there's bad policy that's led to a big 0:06:16.279 --> 0:06:19.080 part of the Fordabilla problem. Why is energy costs so 0:06:19.160 --> 0:06:21.160 high in New York State. It's because we've shut down 0:06:21.360 --> 0:06:24.880 nuclear power and we've you know, it takes fifteen years 0:06:24.920 --> 0:06:29.160 to get a uh you know, power line approved of pipeline. 0:06:29.320 --> 0:06:33.680 You know, you know, we shut down tracking in New 0:06:33.760 --> 0:06:36.680 York state, and the result is that we're importing you know, 0:06:36.760 --> 0:06:38.320 natural gas from Pennsylvania. 0:06:38.680 --> 0:06:38.840 Right. 0:06:39.000 --> 0:06:44.000 Just bad policy, and so you know, the we can 0:06:44.040 --> 0:06:46.120 fix a lot of these problems with much better policy. 0:06:46.360 --> 0:06:49.200 You look at Florida. Florida's an incredibly well managed state. 0:06:49.240 --> 0:06:51.800 They're talking about eliminating I think they voted recently eliminate 0:06:51.839 --> 0:06:54.599 real estate taxes. Right, How are they able to do that? 0:06:54.720 --> 0:07:00.840 Just good policy. Austin, Texas, you know, rents have come 0:07:00.839 --> 0:07:03.400 way down. Why because they made it really easy to build. 0:07:04.000 --> 0:07:06.520 You make it really hard to build in a city 0:07:06.560 --> 0:07:09.600 where people want to live or they're moving to. And 0:07:09.640 --> 0:07:12.240 then you don't allow landlords to recover the costs to 0:07:12.240 --> 0:07:14.440 renovate their units, they're going to pull them off the market. 0:07:14.520 --> 0:07:15.760 So what's happened in New York We had like some 0:07:15.920 --> 0:07:18.520 sixty thousand units that are off the market because the 0:07:18.640 --> 0:07:23.480 cost to renovate them cannot be recovered under the rent regulations. 0:07:23.760 --> 0:07:26.000 You want the Ken Griffins of the world to locate 0:07:26.040 --> 0:07:28.720 Citadel here, You want him to spend two hundred and 0:07:28.720 --> 0:07:31.559 fifty million dollars in apartment Why because that's two hundred 0:07:31.560 --> 0:07:34.960 fifty million dollar purchase made that building economically viable. Well 0:07:34.960 --> 0:07:38.120 that the construction that building created, how many jobs, how 0:07:38.120 --> 0:07:40.960 many rich people moved into that building? Who are going 0:07:41.000 --> 0:07:44.200 to pay taxes the system? A system can work very well. 0:07:44.200 --> 0:07:46.520 You want people at the very top, who are you know, 0:07:47.360 --> 0:07:51.160 very small percentage of the population is paying a big 0:07:51.240 --> 0:07:54.360 you know, it's something like the top ten percent January 0:07:54.360 --> 0:07:56.640 seventy percent of the revenues. That doesn't sound like a 0:07:56.640 --> 0:07:59.960 particularly unfair You know, you want to have the Elie 0:08:00.080 --> 0:08:01.840 must of the world, but you don't want to discourage 0:08:01.880 --> 0:08:04.160 Elon Musk from locating his business here. I mean, look 0:08:04.160 --> 0:08:06.920 at what's happening in California right now. The United States 0:08:07.000 --> 0:08:09.880 made it such that a five percent wealth tax in California, 0:08:09.920 --> 0:08:11.320 which they say is one time. It's first of all, 0:08:11.320 --> 0:08:14.440 it's never one time. Income taxes were deminimous and they 0:08:14.480 --> 0:08:16.560 only apply to a small percentage, say one time. But 0:08:16.600 --> 0:08:18.600 you're worried it'll come back for more. It's a certainty. 0:08:19.000 --> 0:08:22.000 It's a certainty. So we have two big problems. We 0:08:22.040 --> 0:08:28.120 have enormous waste and fraud and government, and we have 0:08:28.240 --> 0:08:33.440 bad policy that economic policy, bad tax policy. And by 0:08:33.440 --> 0:08:35.880 the way, there are many things that are unfair about 0:08:36.240 --> 0:08:39.840 what tax policy that can be fixed. But you know 0:08:39.960 --> 0:08:43.720 the this the answer is socialism. 0:08:43.960 --> 0:08:45.000 Socialism is a disaster. 0:08:45.240 --> 0:08:49.120 Okay, watch if Mondami is successful in implementing these plans, 0:08:49.160 --> 0:08:51.360 watch what happens to New York City. 0:08:51.400 --> 0:08:55.360 You know, this notion that these lefties have are just 0:08:55.440 --> 0:08:58.400 fringe guys in the Democratic Party. Keep in mind that 0:08:58.520 --> 0:09:06.320 Bernie Sanders almost won the twenty sixteen primary against Hillary. 0:09:06.400 --> 0:09:11.160 He had won about twenty five primaries and caucuses, I believe, 0:09:13.040 --> 0:09:14.760 and then in twenty twenty he was a leader. He 0:09:14.840 --> 0:09:18.240 was front runner after won the Nevada caucuses, and that's 0:09:18.240 --> 0:09:27.840 when James Cliburn pulled Joe Biden, who, as David Axod said, 0:09:28.000 --> 0:09:32.320 was mister magooing his way through the primary season because 0:09:32.320 --> 0:09:36.800 they thought that Bernie Sanders was too radical. But he 0:09:36.920 --> 0:09:44.680 was the front runner. And when Biden became president, began 0:09:44.720 --> 0:09:48.600 passing all of his stuff. His inflation reduction actor, even 0:09:48.640 --> 0:09:51.200 he said, was a big green new deal, even Biden 0:09:51.240 --> 0:09:54.840 said it. What did Berndie Sanders say? He said he 0:09:54.880 --> 0:09:59.080 was very happy. He rarely criticized Biden because he felt 0:09:59.120 --> 0:10:02.400 he was getting pretty much all he wanted. He had 0:10:02.440 --> 0:10:06.400 a guy Joe Biden, who called climate change the biggest 0:10:06.720 --> 0:10:13.440 existential threat facing the country, not radical Islam, not around 0:10:13.559 --> 0:10:17.800 the number one sponsor of terrorism, attempting to acquire a 0:10:17.880 --> 0:10:23.520 nuclear bomb. No, the number one threat was climate change. 0:10:25.600 --> 0:10:31.600 And he cut back substantially on drilling. We had high 0:10:31.640 --> 0:10:36.800 gas prices, we had high inflation. And again here in California, 0:10:37.320 --> 0:10:39.880 every dumb idea that they're thinking about trying in DC 0:10:40.000 --> 0:10:43.560 has been tried twice out here already. And what's been 0:10:43.640 --> 0:10:50.520 the result, highest unemployment in the nation, massive gap between 0:10:50.520 --> 0:10:56.200 the rich and the poor. James Tallarico has criticized what 0:10:56.280 --> 0:11:00.160 he calls trickle down economics. 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Visit PHC dot edu 0:12:38.520 --> 0:12:44.440 slash elder that's PHC dot edu slash Elder Triple late 0:12:44.520 --> 0:12:47.440 nine seven one Sage Triple eight nine seven one seven 0:12:47.520 --> 0:12:50.319 two four three. I am Larry Elder. We are Salem 0:12:50.360 --> 0:12:54.360 News Channel. Several years ago, Thomas Soule wrote a colum 0:12:54.480 --> 0:12:59.040 call the trickle down Lie, talked about how Mayor build 0:12:59.040 --> 0:13:02.640 de Blazzio, in his inaugural speech denounced quote people on 0:13:02.679 --> 0:13:05.480 the far right who continued to preach the virtue of 0:13:05.520 --> 0:13:10.440 trickle down economics. Close quote, and soul says, if there's 0:13:10.559 --> 0:13:13.360 ever a contest for the biggest lie in politics, this 0:13:13.400 --> 0:13:19.120 one should be a top contender. He said that many 0:13:19.160 --> 0:13:22.120 lies told in politics, most of them have some sort 0:13:22.120 --> 0:13:23.959 of tiny fractions of truth then to make them sort 0:13:24.000 --> 0:13:27.360 of plausible. But the trickle down lie is one hundred 0:13:27.360 --> 0:13:32.800 percent lie. Years ago, he wrote a column and challenged 0:13:32.800 --> 0:13:37.760 anybody to quote any economists outside of an assane asylum 0:13:38.400 --> 0:13:46.439 whoever ever advocated quote trickle down. He said, Mayor Deblasia 0:13:46.520 --> 0:13:49.520 was by no means the first politician to denounce this 0:13:49.640 --> 0:13:54.080 non existent theory, which no economists ever advocated. Two thousand 0:13:54.080 --> 0:13:59.040 and eight, Obama denounced trickle down again, despite no economists 0:13:59.080 --> 0:14:04.080 ever promoting such a theory. He said, let me ask 0:14:04.120 --> 0:14:08.320 you something Why would anybody advocate that we give a 0:14:09.160 --> 0:14:11.920 something and hopes that it would trickle down to b 0:14:13.679 --> 0:14:15.520 Why in the world would any sane person not just 0:14:15.559 --> 0:14:19.520 give it to be and cut out the middleman. And 0:14:19.600 --> 0:14:24.000 the basis for trickle down is the assumption that you 0:14:24.000 --> 0:14:27.880 can just keep taxing and taxing and taxing without altering 0:14:27.920 --> 0:14:31.480 the behavior of those who are taxed. And that really 0:14:31.680 --> 0:14:36.520 is what is meant by supply side economics, that when 0:14:36.560 --> 0:14:39.200 you tax productive people to the point where they cease 0:14:39.240 --> 0:14:45.440 being productive, everybody gets hurt. When JFK advocated cross the 0:14:45.440 --> 0:14:49.800 board tax cuts, he made the argument every dollar saved 0:14:49.840 --> 0:14:54.720 could be spent or invested, thus creating new jobs, and 0:14:54.760 --> 0:14:59.320 that everybody would benefit. Today he'd be called trickle down suspect. 0:15:01.680 --> 0:15:03.760 And take about take a look at what some of 0:15:03.800 --> 0:15:08.280 these Democrat presidents have said, like Woodrow Wilson. He said 0:15:08.320 --> 0:15:13.320 this in nineteen nineteen. At some point, high rates of 0:15:13.360 --> 0:15:19.440 income and profits, discourage energy, remove the incentive to new enterprise, 0:15:21.040 --> 0:15:28.000 encourage extravagant expenditures, and produced industrial stagnation with consequent unemployment 0:15:28.040 --> 0:15:30.600 and other attendant evils. Close Ford, that was a Democrat 0:15:33.080 --> 0:15:37.840 JFK nineteen sixty two. It is a paradoxical truth that 0:15:37.960 --> 0:15:40.840 tax rates are too high today and tax revenues are 0:15:40.840 --> 0:15:44.040 too low, and the soundest way to raise the revenues 0:15:44.080 --> 0:15:46.880 in the long run is to cut the rates now. 0:15:47.120 --> 0:15:55.560 End of quote. Yet these DNC people that say there 0:15:55.600 --> 0:16:00.360 ought not be billionaires, the DNC people that lie and 0:16:00.400 --> 0:16:03.160 say the rich don't pay their fair share, don't seem 0:16:03.160 --> 0:16:06.480 to understand this and trotting down the old trickle down 0:16:06.520 --> 0:16:12.240 lie is good, Old James Tallerico number thirty. 0:16:12.440 --> 0:16:17.240 Trickle down economics is not a theory. It is theft. 0:16:18.200 --> 0:16:27.720 For fifty years, For fifty years, billionaire mega donors and 0:16:27.800 --> 0:16:31.840 their puppet politicians have been stealing from the American people, 0:16:32.520 --> 0:16:35.200 stealing the wealth that we created. 0:16:35.280 --> 0:16:37.760 Okay, okay, you get your bride, You get the point. 0:16:39.240 --> 0:16:43.200 When I was running for governor, someone pulled out an 0:16:43.240 --> 0:16:46.160 article I wrote where I said the minimum way should 0:16:46.160 --> 0:16:49.320 be zero? And she said, are you saying that people 0:16:49.360 --> 0:16:52.840 should work for nothing? I says that what the article says. 0:16:53.680 --> 0:16:56.160 I said, do you work for nothing? She said no, 0:16:56.200 --> 0:16:59.480 I said, neither do I. Why would anybody work for nothing? 0:17:00.440 --> 0:17:04.800 Is the term for that? It's called slavery? I said. 0:17:04.840 --> 0:17:07.879 All I said is that a third party ought not 0:17:08.000 --> 0:17:10.600 get in the middle of a willing seller of labor 0:17:10.680 --> 0:17:14.359 and a willing buyer of labor. And I said, even 0:17:14.400 --> 0:17:16.920 most left winging economists believe that the minimum wage will 0:17:17.040 --> 0:17:24.359 hurt people. I said, who's your favorite economist? Blank Stare. 0:17:26.320 --> 0:17:29.399 I said, well, name an economists, because all the major 0:17:29.440 --> 0:17:31.199 ones I know, and I would know pretty much how 0:17:31.200 --> 0:17:33.560 they feel about the minimum wage. Waiting for her to name, 0:17:33.760 --> 0:17:37.640 I said, well, just name one, blank Stare. I said, 0:17:37.680 --> 0:17:41.080 you can't think of a single economist. She said, well, 0:17:41.160 --> 0:17:43.760 the professor I studied in college. I said, what's his 0:17:43.920 --> 0:17:48.480 or her name? Blank Stare. I said, so here you 0:17:48.520 --> 0:17:53.040 are attacking me for saying there should not be a 0:17:53.040 --> 0:17:55.680 minimum wage, and you can't think of a single economist 0:17:55.720 --> 0:18:04.119 who disagrees with me, even Paul Krugman. He is economist 0:18:04.119 --> 0:18:07.000 who's written for years for the New York Times. Left 0:18:07.040 --> 0:18:10.440 wing guy despises Donald Trump said that when Donald Trump 0:18:10.480 --> 0:18:13.200 got elected in one point zero there would be a depression. 0:18:13.680 --> 0:18:16.640 He was just off a little bit, and by the way, 0:18:16.640 --> 0:18:18.679 now he'd come around to agreeing that Donald Trump might 0:18:18.720 --> 0:18:21.800 be right about some of the things he said about tariffs. 0:18:24.560 --> 0:18:29.159 Jonathan Gruber, one of the architects of Obamacare also wrote 0:18:29.160 --> 0:18:33.800 negatively about a living wage or a minimum wage. This 0:18:33.880 --> 0:18:37.720 is just economics. One oh One's probably the most studied 0:18:37.760 --> 0:18:40.840 aspect of economics. There have been a number of pages 0:18:41.320 --> 0:18:44.560 papers written about this over the years, and economists a 0:18:44.560 --> 0:18:46.679 few years ago looked at about one hundred pages papers 0:18:46.680 --> 0:18:48.439 that had been written in the last several years about this. 0:18:49.160 --> 0:18:53.080 Eighty five percent of them found harmful effects, some found 0:18:53.119 --> 0:18:56.800 extremely harmful effects, a handful of them found neutral effects. 0:18:57.400 --> 0:18:59.359 Only a couple of them said that the minimum wage 0:18:59.359 --> 0:19:02.080 had a positive act. One of those was the famous 0:19:02.119 --> 0:19:06.120 Card Kruger or Kruger Card study that has been thoroughly, 0:19:06.440 --> 0:19:09.280 thoroughly debunked by other people that tried to replicate their results. 0:19:12.560 --> 0:19:16.160 Now you remember when I told you that Ben Rhodes, 0:19:16.160 --> 0:19:20.399 who was the architect of the Iran deal during the 0:19:20.400 --> 0:19:25.360 Obama administration, gave an interview to the New York Times. 0:19:25.400 --> 0:19:29.040 Don't ask me why he did it. Very candidly said, 0:19:29.359 --> 0:19:31.520 you know, I sold this thing on a narrative that 0:19:31.560 --> 0:19:36.480 there were hardliner iotolus and moderate iotolus, and if he 0:19:36.520 --> 0:19:38.720 wanted to give the upper hand to the moderate iototes, 0:19:38.800 --> 0:19:40.879 we need to do this deal, and he admitted that 0:19:40.920 --> 0:19:44.119 there was no distinction between hard lighter Iotolus and moderate Iotolus, 0:19:44.560 --> 0:19:46.080 and said he was able to sell it because the 0:19:46.200 --> 0:19:50.520 average reporter covering foreign policy, because I got rid of 0:19:50.520 --> 0:19:54.040 a lot of the veterans as the newspapers began to 0:19:54.680 --> 0:19:59.600 contract for losing money. The average reporter covering foreign policy, 0:19:59.640 --> 0:20:01.560 he said, with twenty seven years old quote, and they 0:20:01.600 --> 0:20:06.440 literally know nothing close quote. How many of these reporters 0:20:07.240 --> 0:20:12.840 covering the economy, covering tax covering spending, covering monetary policy 0:20:13.520 --> 0:20:17.520 are clueless about economics? One O one. I suspect a 0:20:17.560 --> 0:20:21.159 great deal of them are. That's why you hear this 0:20:21.280 --> 0:20:24.480 lie over and over and over again that the Donald 0:20:24.520 --> 0:20:27.720 Trump tax cuts went to the top one percent. Bull 0:20:28.240 --> 0:20:33.600 everybody who paid taxes got a break. But they still 0:20:33.640 --> 0:20:36.199 say this over and over and over again, just like 0:20:36.320 --> 0:20:38.600 just as they say over and over and over again, 0:20:38.720 --> 0:20:42.240 the rich don't pay their fair share in taxes. We 0:20:42.320 --> 0:20:46.119 come back when I talk about what the great Thomas 0:20:46.160 --> 0:20:49.440 Soul said about people that are denouncing the non existent 0:20:49.760 --> 0:20:52.960 trickle down theory. And let's revisit what Ronald Reagan said 0:20:53.000 --> 0:20:55.800 about Medicare for all, which is exactly what these Democrats 0:20:56.359 --> 0:21:01.159 DSA people really want, and I don't know a single 0:21:01.200 --> 0:21:04.919 Democrat who has not also advocated medicare for all. So 0:21:04.960 --> 0:21:08.399 there's no big, wide gulf between DSA and Democrats on 0:21:08.480 --> 0:21:09.680 many issues on Lariod. 0:21:20.520 --> 0:21:25.520 Half a century later, Watergate still shapes how Americans view power, 0:21:25.680 --> 0:21:30.840 scandal and trust. This weekend, the America two fifty film 0:21:30.880 --> 0:21:37.160 series presents Watergates, Secrets and Betrayals, revisit the investigation through 0:21:37.320 --> 0:21:42.600 archival footage, interviews, and new arguments about what happened. Launched 0:21:42.640 --> 0:21:46.479 Saturday and Sunday at seven pm Eastern on Salem News Channel. 0:21:49.880 --> 0:21:54.680 Trickle down economics is not a theory. It is theft 0:21:55.640 --> 0:22:05.159 for fifty years. For fifty years, billionaire mega donors and 0:22:05.200 --> 0:22:09.280 their puppet politicians have been stealing from the American people, 0:22:09.960 --> 0:22:16.000 stealing the wealth that we created with their bribes, their bailouts, 0:22:16.600 --> 0:22:22.719 and their billionaire tax breaks. This affordability crisis isn't something 0:22:22.760 --> 0:22:27.600 that happened over the last five years. This affordability crisis 0:22:27.800 --> 0:22:31.680 has been fifty years in the making. Since the late 0:22:31.760 --> 0:22:35.560 nineteen seventies, mega donors and corporate special interests have been 0:22:35.600 --> 0:22:40.160 buying politicians in both political parties and then those politicians 0:22:40.200 --> 0:22:43.959 turned around and rigged the economy to benefit their wealthy 0:22:43.960 --> 0:22:49.080 donors at our expense. We have an affordability crisis because 0:22:49.720 --> 0:22:51.160 we have a corruption crisis. 0:22:52.640 --> 0:22:55.600 Triple late nine seven one sage Triple eight nine seven 0:22:55.640 --> 0:22:57.600 one seven two four to three. I am Larry Yelder. 0:22:57.640 --> 0:23:00.720 We are stealem News Channel. Last I checked something like 0:23:01.600 --> 0:23:04.840 forty some odd billionaires have donated to the candidacy of 0:23:04.960 --> 0:23:09.280 mister tallerco Here is Thomas soul on this business of 0:23:09.280 --> 0:23:10.600 trickle down, Ember thirty. 0:23:10.400 --> 0:23:15.840 One, Segment three, Trickle down and Millionaires. Now the attack 0:23:16.000 --> 0:23:20.800 on this theory which has been tested and shown to work. 0:23:21.480 --> 0:23:24.200 President Obama in December of last year. The market will 0:23:24.200 --> 0:23:26.520 take care of everything. They tell us, jobs and prosperity 0:23:26.560 --> 0:23:30.080 will eventually trickle down to everyone else. In April of 0:23:30.119 --> 0:23:32.480 this year. During the Bush years, the wealthy got wealthier, 0:23:32.600 --> 0:23:36.680 but prosperity sure didn't trickle down. In July this past 0:23:36.680 --> 0:23:39.399 summer for Barack Obama, We've tried it their way. It 0:23:39.400 --> 0:23:42.479 didn't work. We were told that prosperity would start at 0:23:42.480 --> 0:23:46.400 the top and then trickle down. Close quote where does 0:23:46.440 --> 0:23:49.480 this trickle Where does this phrase trickle down come from? 0:23:49.600 --> 0:23:49.760 Oh? 0:23:49.800 --> 0:23:52.320 I don't know it was as far back as as 0:23:52.920 --> 0:23:57.639 the first as the Rosevelt administration. There is absolutely it 0:23:57.680 --> 0:24:01.280 is an incredible thing. It's there is a non existent 0:24:01.320 --> 0:24:04.879 theory that is constantly being attacked. Some years ago, in 0:24:04.880 --> 0:24:08.800 my newspaper column, I challenged anybody to cite any economist 0:24:08.840 --> 0:24:12.119 outside of an insane asylum who had ever made that argument. 0:24:12.600 --> 0:24:15.280 Nobody ever ever came up with a single person. 0:24:15.400 --> 0:24:18.320 So when Barack Obama says in this past July quote, 0:24:18.359 --> 0:24:21.320 we were told that prosper who. 0:24:21.200 --> 0:24:22.919 Told him, nobody told him nobody. 0:24:23.000 --> 0:24:25.400 No economist has ever held that. No politician has ever 0:24:25.440 --> 0:24:25.760 said it. 0:24:25.800 --> 0:24:27.800 I don't know anybody who's ever said it. In fact, 0:24:28.160 --> 0:24:31.160 when I put this out and I went out nationally, 0:24:31.160 --> 0:24:34.959 something caated column. Various people wrote me and said, well, 0:24:35.040 --> 0:24:36.960 so and so said that, so and so said it. 0:24:37.000 --> 0:24:39.640 But find me the person who said it. I don't 0:24:39.680 --> 0:24:42.240 want to hear how A said that. B said, find 0:24:42.280 --> 0:24:44.720 me B and show me where he said it. And 0:24:44.840 --> 0:24:48.119 that was years ago. Not one example has been offered. 0:24:48.720 --> 0:24:55.320 All right, So trickle down economics is not a political theory. 0:24:55.440 --> 0:24:57.800 It is a political I beg your pardon. It's not 0:24:57.840 --> 0:25:01.240 an economic theory. It is a political hack phrase. 0:25:01.680 --> 0:25:03.040 Used as a caricature. 0:25:03.280 --> 0:25:06.880 Caricature in other words, the argument really is is not 0:25:06.960 --> 0:25:09.320 that they that you should put more more money in 0:25:09.320 --> 0:25:12.359 the hands of the wealthy. It's also part of a 0:25:12.480 --> 0:25:15.720 zero sum conception of the economy. There's the thought that 0:25:15.800 --> 0:25:18.600 if you cut the tax rates on the rich, why 0:25:18.680 --> 0:25:21.440 then there'll be less taxes for the government, or you'll 0:25:21.440 --> 0:25:23.119 have to raise the taxes on other people to make 0:25:23.200 --> 0:25:26.040 up the difference, or cut programs and so forth. So 0:25:26.080 --> 0:25:28.160