1 00:00:00,280 --> 00:00:02,920 Speaker 1: Okay, it looks like there is now an update from 2 00:00:03,000 --> 00:00:08,640 Speaker 1: the Supreme Court on the tariffs, and that is that 3 00:00:08,640 --> 00:00:10,000 Speaker 1: they're not going to rule today. 4 00:00:11,320 --> 00:00:14,920 Speaker 2: Oh that's kind of disappointing. Was that surprises me a 5 00:00:14,920 --> 00:00:16,759 Speaker 2: bit because you'd figure that they would want to dump 6 00:00:16,800 --> 00:00:19,200 Speaker 2: it today, So let the news fly under the radar 7 00:00:19,239 --> 00:00:21,919 Speaker 2: because nobody's going to be covering that over Minnesota. 8 00:00:22,040 --> 00:00:24,959 Speaker 1: So it's just interesting. It had been widely speculating we 9 00:00:24,960 --> 00:00:26,599 Speaker 1: began the show with it. In fact, really I began 10 00:00:26,640 --> 00:00:28,120 Speaker 1: the show with that because I was stuck in that 11 00:00:28,160 --> 00:00:30,200 Speaker 1: producer's booth with Kevin and have access to all that 12 00:00:30,240 --> 00:00:32,240 Speaker 1: audio I'd pulled, so I was just I was buying 13 00:00:32,320 --> 00:00:34,520 Speaker 1: time for the engineers to get the studio back up. 14 00:00:34,800 --> 00:00:37,040 Speaker 1: If you missed the first segment of the program today, 15 00:00:37,040 --> 00:00:40,159 Speaker 1: it was it was some just real radio brilliance of 16 00:00:40,200 --> 00:00:42,760 Speaker 1: me standing in the producer's booth with Kevin because that 17 00:00:42,840 --> 00:00:44,760 Speaker 1: was the only microphone that was working, and so I 18 00:00:44,840 --> 00:00:47,640 Speaker 1: just had to talk to myself unprompted for you know, 19 00:00:47,720 --> 00:00:48,560 Speaker 1: five or six minutes. 20 00:00:48,560 --> 00:00:51,440 Speaker 2: So you took charge like a storybook hero. You stormed 21 00:00:51,520 --> 00:00:54,080 Speaker 2: the bastions. You marched out of the studio and headed 22 00:00:54,120 --> 00:00:57,040 Speaker 2: into the producer room because you knew since Carl had 23 00:00:57,040 --> 00:01:00,160 Speaker 2: participated with Tony katshow earlier that microphone was working. 24 00:01:00,240 --> 00:01:03,240 Speaker 1: Yeah. Yeah, so, Uh, anyway, we had speculated that or 25 00:01:03,320 --> 00:01:05,920 Speaker 1: others had speculated that that Supreme Court ruling was going 26 00:01:05,959 --> 00:01:09,039 Speaker 1: to come down today on tariffs, which would dramatically whatever 27 00:01:09,080 --> 00:01:12,680 Speaker 1: way they go, uh, shake up the US economy. And 28 00:01:12,760 --> 00:01:15,319 Speaker 1: now it has come out that they are not ruling today. 29 00:01:15,160 --> 00:01:17,400 Speaker 1: They only had one ruling that was released had nothing 30 00:01:17,400 --> 00:01:19,800 Speaker 1: to do with tariffs. So we will continue the watch 31 00:01:19,840 --> 00:01:22,880 Speaker 1: and wait on when the Supreme Court is going to 32 00:01:23,000 --> 00:01:26,080 Speaker 1: actually make a decision on Donald Trump's tariffs. That you 33 00:01:26,120 --> 00:01:29,360 Speaker 1: would think, Look, and these guys and girls can do 34 00:01:29,360 --> 00:01:31,280 Speaker 1: whatever they want, right, They're the nine most powerful people 35 00:01:31,280 --> 00:01:33,920 Speaker 1: in the country. They don't owe anybody an explanation on anything. 36 00:01:34,800 --> 00:01:38,040 Speaker 1: The Trump tariffs are still in place, right, I mean 37 00:01:38,120 --> 00:01:41,920 Speaker 1: like they have allowed them continue to go on pending 38 00:01:41,959 --> 00:01:44,600 Speaker 1: the ruling from the Supreme Court, even though other courts 39 00:01:44,920 --> 00:01:48,600 Speaker 1: had ruled against him. The tariffs are still in place 40 00:01:48,800 --> 00:01:51,320 Speaker 1: until the court rules. You would think, and again maybe 41 00:01:51,360 --> 00:01:53,320 Speaker 1: I'm just reading way too much into it. If you 42 00:01:53,360 --> 00:01:55,240 Speaker 1: were going to side with Trump, if you know, they 43 00:01:55,240 --> 00:01:56,480 Speaker 1: have to know what they're gonna do. If you're gonna 44 00:01:56,480 --> 00:01:58,120 Speaker 1: side with Trump, would you just go ahead and say it, 45 00:01:58,160 --> 00:02:00,240 Speaker 1: since that's the status quote that's already in place. 46 00:02:00,320 --> 00:02:02,040 Speaker 2: I don't see how they can side with Trump. I'm 47 00:02:02,080 --> 00:02:05,520 Speaker 2: not sure where Trump gets the taxing authority to institute 48 00:02:05,560 --> 00:02:08,400 Speaker 2: these tariffs when, as I understand it, the formation of 49 00:02:08,639 --> 00:02:12,120 Speaker 2: the basic form of the Constitution places taxing responsibility in 50 00:02:12,120 --> 00:02:15,280 Speaker 2: the Congress. And again, especially because he's been flip flopping 51 00:02:15,360 --> 00:02:18,560 Speaker 2: on it, there's been so much instability that has surrounded 52 00:02:18,560 --> 00:02:21,320 Speaker 2: and resulted from the way that he's implemented tariffs. I mean, 53 00:02:21,560 --> 00:02:24,600 Speaker 2: you can say that maybe some marginally positive things have 54 00:02:24,639 --> 00:02:27,640 Speaker 2: been accomplished, but regardless of whether you think the outcome 55 00:02:27,680 --> 00:02:31,560 Speaker 2: has been positive or negative, structurally, I don't think the 56 00:02:31,600 --> 00:02:32,720 Speaker 2: president has that authority. 57 00:02:32,760 --> 00:02:35,160 Speaker 1: And again, just to reset, because we have the most knowledgeable, 58 00:02:35,200 --> 00:02:37,280 Speaker 1: engaged audience in all the land. But for those of 59 00:02:37,280 --> 00:02:39,520 Speaker 1: you who are not aware what we're talking about, President 60 00:02:39,560 --> 00:02:43,240 Speaker 1: Trump has enacted tariffs on many many countries in his 61 00:02:43,360 --> 00:02:47,200 Speaker 1: first year in office, and he has done them under 62 00:02:47,200 --> 00:02:50,320 Speaker 1: this Emergency Powers Act that dates back to the days 63 00:02:50,320 --> 00:02:55,440 Speaker 1: of Richard Nixon. Several Democrat states, along with some business 64 00:02:55,480 --> 00:02:59,480 Speaker 1: groups have sued the Trump administration, saying, if you want 65 00:02:59,480 --> 00:03:02,000 Speaker 1: to do terror, there is a way you do the tariffs. 66 00:03:02,520 --> 00:03:06,680 Speaker 1: This is not it. This does not meet the guidelines 67 00:03:06,720 --> 00:03:09,840 Speaker 1: of the set forth for the emergency powers to be 68 00:03:09,880 --> 00:03:13,680 Speaker 1: able to do this. And this has made its way 69 00:03:13,760 --> 00:03:15,720 Speaker 1: all the way to the Supreme Court. Trump has lost 70 00:03:15,720 --> 00:03:18,200 Speaker 1: at a couple of lower courts. Supreme Court has allowed 71 00:03:18,200 --> 00:03:21,000 Speaker 1: them to continue while they heard the case, and the 72 00:03:21,120 --> 00:03:23,959 Speaker 1: judges really strugg because look, it's going to there's two 73 00:03:23,960 --> 00:03:27,040 Speaker 1: things at play. One the actual impact it's going to 74 00:03:27,040 --> 00:03:30,600 Speaker 1: have on the US economy slash government because a lot 75 00:03:30,639 --> 00:03:33,079 Speaker 1: of this money, these tax increases, which are what tariffs 76 00:03:33,080 --> 00:03:37,680 Speaker 1: are that we're paying, are flowing into the federal government. 77 00:03:37,800 --> 00:03:39,680 Speaker 1: Now who knows what they're going to do with the money. 78 00:03:39,720 --> 00:03:43,920 Speaker 1: Ultimately they keep changing their story. But it will also 79 00:03:44,960 --> 00:03:49,160 Speaker 1: have a profound impact on these businesses because it affects 80 00:03:49,200 --> 00:03:51,000 Speaker 1: and this is part of why they're suing. They're saying, 81 00:03:51,320 --> 00:03:54,600 Speaker 1: we have to charge more to our customers. Now we 82 00:03:54,720 --> 00:03:57,240 Speaker 1: don't believe you have the ability to do this. So 83 00:03:57,320 --> 00:03:59,640 Speaker 1: not only will it affect the government, it's going to 84 00:03:59,680 --> 00:04:02,800 Speaker 1: affect an all likelihood and a variety of things. What 85 00:04:02,880 --> 00:04:05,320 Speaker 1: you pay at the store. And the one thing that 86 00:04:05,560 --> 00:04:07,560 Speaker 1: justice has appeared in your right either, it appeared based 87 00:04:07,600 --> 00:04:10,320 Speaker 1: on the oral arguments that were heard. The justices were 88 00:04:10,360 --> 00:04:14,720 Speaker 1: at the very least very sympathetic to the plaintiffs, the 89 00:04:14,760 --> 00:04:18,320 Speaker 1: people filing the lawsuit. However, the one thing they were 90 00:04:18,320 --> 00:04:22,320 Speaker 1: struggling with is if we rule in your favor, this 91 00:04:22,400 --> 00:04:26,159 Speaker 1: is going to cause complete calamity in the government. How 92 00:04:26,160 --> 00:04:29,120 Speaker 1: do we force them to them to pay it back? 93 00:04:29,160 --> 00:04:31,360 Speaker 1: And the plaintiffs, to their credit, said, look, judge, we're 94 00:04:31,360 --> 00:04:34,719 Speaker 1: not judges. We're not disputing what you're saying. That's not 95 00:04:34,800 --> 00:04:38,040 Speaker 1: our problem. It's also not your problem. Your job is 96 00:04:38,080 --> 00:04:40,960 Speaker 1: to enforce the law and the constitution, so you can't 97 00:04:41,000 --> 00:04:41,760 Speaker 1: worry about that. 98 00:04:41,800 --> 00:04:43,880 Speaker 2: Well. Also, part of the issue is these taxes that 99 00:04:43,920 --> 00:04:47,239 Speaker 2: are being levied are taxes that Americans are ultimately paying. 100 00:04:47,240 --> 00:04:49,680 Speaker 2: It's not taxes that the foreign countries are paying on 101 00:04:49,839 --> 00:04:52,920 Speaker 2: the goods. It's passed on to consumers in the force 102 00:04:52,960 --> 00:04:56,120 Speaker 2: of in the form of increased prices. Yeah, and you 103 00:04:56,120 --> 00:05:00,160 Speaker 2: will pitch to deincentivize imports and then favor America and 104 00:05:00,520 --> 00:05:03,320 Speaker 2: exports and American productivity locally. 105 00:05:03,440 --> 00:05:05,200 Speaker 1: Well, and it's the same argument you always hearing. You 106 00:05:05,240 --> 00:05:07,320 Speaker 1: will appreciate this as a man who makes his living 107 00:05:07,520 --> 00:05:11,080 Speaker 1: renting properties to people. That's right, I always hear from 108 00:05:11,160 --> 00:05:15,080 Speaker 1: the well renters don't pay property tax ethan, have you 109 00:05:15,160 --> 00:05:17,560 Speaker 1: ever ever ever, out of the goodness of your heart, 110 00:05:17,720 --> 00:05:20,359 Speaker 1: just eaten the property taxes that you pay to the 111 00:05:20,360 --> 00:05:23,479 Speaker 1: City of Indianapolis, or have you passed that cost on 112 00:05:23,600 --> 00:05:24,720 Speaker 1: to your tenants? 113 00:05:24,760 --> 00:05:27,280 Speaker 2: Well, logistically it, frankly, isn't possible for me to eat 114 00:05:27,320 --> 00:05:29,800 Speaker 2: the cost of the property taxes because the business has 115 00:05:29,880 --> 00:05:31,720 Speaker 2: to pay the cost of the property tax. And if 116 00:05:31,720 --> 00:05:34,800 Speaker 2: I'm losing money, I go bankrupt. I'm not Scrooge McDuck 117 00:05:34,920 --> 00:05:37,240 Speaker 2: sitting on this large vault of gold coins that I'm 118 00:05:37,279 --> 00:05:39,440 Speaker 2: swimming in in order to pay the taxes. So and 119 00:05:39,640 --> 00:05:41,960 Speaker 2: in fact, I'm going to have to raise the rent 120 00:05:42,000 --> 00:05:44,400 Speaker 2: on a couple of properties because of the tax increases 121 00:05:44,440 --> 00:05:45,719 Speaker 2: that I've had to shoulder. 122 00:05:45,880 --> 00:05:48,920 Speaker 1: Yeah, and so I mentioned all this because if anybody 123 00:05:49,000 --> 00:05:51,400 Speaker 1: ever tell when these school referendums come up, which they're 124 00:05:51,400 --> 00:05:53,200 Speaker 1: going to be coming up left and right this coming year, 125 00:05:53,400 --> 00:05:56,560 Speaker 1: don't kid yourself. These schools are not going to take 126 00:05:56,640 --> 00:06:00,000 Speaker 1: any sort of revenue reduction. They don't care about you, 127 00:06:00,000 --> 00:06:03,040 Speaker 1: so they believe your money is their money. They believe 128 00:06:03,080 --> 00:06:05,760 Speaker 1: your house is their house, and they are going to 129 00:06:05,800 --> 00:06:08,360 Speaker 1: do everything their power to get that money that you're 130 00:06:08,360 --> 00:06:12,159 Speaker 1: getting back in whatever Measley Property tax cut Bronze bill 131 00:06:12,640 --> 00:06:15,200 Speaker 1: ended up giving. And my point is, if you're a renter, 132 00:06:16,560 --> 00:06:20,080 Speaker 1: you are paying more in property tax than the people 133 00:06:20,520 --> 00:06:24,040 Speaker 1: who are own their homes because you're charged two percent 134 00:06:24,120 --> 00:06:28,760 Speaker 1: cap right versus homeowners residential homeowners who are one. So 135 00:06:28,800 --> 00:06:31,440 Speaker 1: if you're a renter, you, above all people should be 136 00:06:31,440 --> 00:06:34,120 Speaker 1: out voting knowing the school reperendums because you're gonna get 137 00:06:34,160 --> 00:06:36,080 Speaker 1: screwed more than the homeowners are. 138 00:06:36,200 --> 00:06:38,120 Speaker 2: Yeah, twice is screwed as a matter of fact, in 139 00:06:38,120 --> 00:06:40,240 Speaker 2: addition to all the other ways that you're getting screwed, 140 00:06:40,279 --> 00:06:43,400 Speaker 2: like the sales taxes, the extra special tax that we 141 00:06:43,440 --> 00:06:45,840 Speaker 2: hear in Marion County pay just for the privilege of 142 00:06:45,880 --> 00:06:48,320 Speaker 2: having Lucas Oil Stadium as well as still paying off 143 00:06:48,839 --> 00:06:51,120 Speaker 2: the Hoosier Dome, and then also the forum. Like you 144 00:06:51,160 --> 00:06:54,640 Speaker 2: mentioned in SB one, the added local income taxes that 145 00:06:54,680 --> 00:06:56,599 Speaker 2: many people are going to be seeing in their communities 146 00:06:56,640 --> 00:07:01,279 Speaker 2: across Indiana added in order to subsidize the meager cuts 147 00:07:01,400 --> 00:07:02,479 Speaker 2: that were in the bill. 148 00:07:02,520 --> 00:07:05,320 Speaker 1: Yeah, I mean when your bills start showing up. And 149 00:07:05,360 --> 00:07:07,760 Speaker 1: this is the deception that the Republicans pulled with this 150 00:07:07,839 --> 00:07:10,640 Speaker 1: property tax bill. And you'll need to remember this over time, 151 00:07:10,680 --> 00:07:12,560 Speaker 1: because it's the frog and the boiling pot of water 152 00:07:12,640 --> 00:07:15,560 Speaker 1: thing where you're not going to feel it because it's 153 00:07:15,560 --> 00:07:17,600 Speaker 1: going to happen over time and in a variety of 154 00:07:17,640 --> 00:07:20,080 Speaker 1: different ways. But the water in this case, the taxes 155 00:07:20,280 --> 00:07:22,200 Speaker 1: will be higher than ever because you're going to get 156 00:07:22,240 --> 00:07:24,200 Speaker 1: a little bit of a reduction most people this year 157 00:07:24,200 --> 00:07:26,720 Speaker 1: in your property tax bill. That will probably happen. I've 158 00:07:26,720 --> 00:07:29,600 Speaker 1: never disputed that two hundred three hundred dollars something like that. 159 00:07:29,640 --> 00:07:32,880 Speaker 1: Now it'll be offset by assessment increases in some cases 160 00:07:32,880 --> 00:07:35,760 Speaker 1: because they did nothing to address assessment increases. But some 161 00:07:35,800 --> 00:07:39,440 Speaker 1: people will certainly see lower property tax bills this year, Braun, 162 00:07:39,440 --> 00:07:42,280 Speaker 1: and the Republicans when those bills come out, will go see, 163 00:07:42,360 --> 00:07:45,800 Speaker 1: we told you. But what they're not factoring in is, 164 00:07:45,800 --> 00:07:48,480 Speaker 1: as you said, Ethan, won all the school referendums that 165 00:07:48,520 --> 00:07:51,000 Speaker 1: are going to take place because of this bill that 166 00:07:51,040 --> 00:07:53,680 Speaker 1: otherwise weren't going to take place. Some of them will pass, 167 00:07:53,720 --> 00:07:56,600 Speaker 1: so you'll pay higher taxes with that. As you said, Ethan, 168 00:07:56,680 --> 00:08:01,960 Speaker 1: beginning in twenty seven or twenty eight. Your local governments, 169 00:08:01,960 --> 00:08:05,320 Speaker 1: who your city's towns, who previously couldn't raise your income 170 00:08:05,400 --> 00:08:08,520 Speaker 1: tax now will have an ability to raise your income tax. 171 00:08:08,880 --> 00:08:11,360 Speaker 1: That's going to be a lot of money. And your 172 00:08:11,400 --> 00:08:14,680 Speaker 1: property taxes will continue to rise over time because they 173 00:08:14,720 --> 00:08:17,760 Speaker 1: did nothing to address the cause of the rising property taxes, 174 00:08:17,840 --> 00:08:19,360 Speaker 1: which is the rising assessments. 175 00:08:19,520 --> 00:08:22,440 Speaker 2: I haven't seen what the cost of property taxes this 176 00:08:22,600 --> 00:08:25,080 Speaker 2: year will be. I just got the estimates in and 177 00:08:25,120 --> 00:08:26,600 Speaker 2: I was checking the other day, and as far as 178 00:08:26,640 --> 00:08:28,800 Speaker 2: I know, it's about the same rate that I paid 179 00:08:28,840 --> 00:08:32,600 Speaker 2: for the last twelve months, which was about seventeen thousand 180 00:08:32,640 --> 00:08:34,280 Speaker 2: dollars per every six months. 181 00:08:34,160 --> 00:08:36,880 Speaker 1: That's a wonderful that's for all your properties. You paid 182 00:08:36,880 --> 00:08:37,920 Speaker 1: thirty four grand a year in. 183 00:08:37,920 --> 00:08:39,400 Speaker 2: Property tax, just in property tax. 184 00:08:39,520 --> 00:08:40,600 Speaker 1: Holy smokes. 185 00:08:40,640 --> 00:08:42,400 Speaker 2: And I'm getting ready to have to pay another seventeen 186 00:08:42,400 --> 00:08:45,199 Speaker 2: thousand or start paying on another seventeen thousand before property 187 00:08:45,240 --> 00:08:48,760 Speaker 2: taxes are due in May. That's fun times. And like 188 00:08:48,800 --> 00:08:51,640 Speaker 2: I said, we still haven't got the assessments mailed to us. 189 00:08:51,640 --> 00:08:55,280 Speaker 2: This is just an estimate, so I expect sometime before 190 00:08:55,360 --> 00:08:57,600 Speaker 2: May I will be getting a one to two to 191 00:08:57,640 --> 00:09:00,280 Speaker 2: possibly three percent increase on that total. 192 00:09:00,840 --> 00:09:04,800 Speaker 1: Right and and right. Braun. And the Republicans look at 193 00:09:04,800 --> 00:09:08,480 Speaker 1: you and go, everything's fine, shut up and pay well. Right. 194 00:09:08,480 --> 00:09:10,240 Speaker 2: They look at me like mister money bags. They think 195 00:09:10,280 --> 00:09:11,680 Speaker 2: I'm Elon Musk over here. 196 00:09:11,760 --> 00:09:12,240 Speaker 1: That's right.