WEBVTT - INTERVIEW: Ro Khanna & Ja Moore Talk Building Wealth, Bridging The Gap With Technology, Trump Vs. Harris + More 0:00:00.480 --> 0:00:02.520 Wake that answer up in the morning. 0:00:02.880 --> 0:00:08.400 Breakfast Club Morning, everybody is the j Envy Jess, hilarious, 0:00:08.440 --> 0:00:10.440 Charlamagne the guy we are to Breakfast clublow on the 0:00:10.480 --> 0:00:12.760 roster filling in for jests. We got some special guests 0:00:12.800 --> 0:00:16.440 joining us this morning. We got us representative of Ocanna 0:00:16.480 --> 0:00:19.480 from California and we got jay A. Moore from South Carolina. 0:00:19.480 --> 0:00:20.919 Well fal Carolina state representatives. 0:00:21.920 --> 0:00:22.320 Welcome. 0:00:22.880 --> 0:00:24.040 How y'all feeling to say? 0:00:24.560 --> 0:00:26.759 Great to be on, to be here. You guys have 0:00:26.840 --> 0:00:28.720 gone next level in terms of your show. 0:00:29.320 --> 0:00:32.199 We've been working, working, you know, it's interested in every 0:00:32.240 --> 0:00:35.400 election season. You know, we get we you know, we're 0:00:35.400 --> 0:00:37.320 a stop for people. So I guess that's a good thing. 0:00:37.479 --> 0:00:37.960 Great deal. 0:00:38.479 --> 0:00:39.280 I think it's great. 0:00:39.320 --> 0:00:41.280 I mean I was on, as you may remember, a 0:00:41.360 --> 0:00:43.839 couple of years ago when the during the pandemic. But 0:00:43.920 --> 0:00:47.000 since then, I think, uh, you know, people in the 0:00:47.040 --> 0:00:50.360 mainstream media now have figured out that they've got to 0:00:50.400 --> 0:00:52.519 come on this show and they're listening absolutely. 0:00:52.880 --> 0:00:54.880 So what do you guys think about the rally over 0:00:54.880 --> 0:00:56.640 the weekend in New York and Madison Square Guard What 0:00:56.640 --> 0:00:57.720 were your thoughts? 0:00:58.560 --> 0:01:01.920 Here's the thing, you know, Maya Angelo once said that 0:01:02.520 --> 0:01:05.479 words are things, and you've got to be careful about 0:01:05.520 --> 0:01:06.520 how you use words. 0:01:07.880 --> 0:01:08.360 Now, I'm a. 0:01:08.319 --> 0:01:10.600 Free speech person, but that doesn't mean old speech is 0:01:10.640 --> 0:01:15.680 good speech. And we teach our kids to be thoughtful 0:01:15.760 --> 0:01:19.880 about how they use words because of respect. We have 0:01:19.959 --> 0:01:22.160 had this situation in this country that if you think 0:01:22.200 --> 0:01:26.000 something is funny, that somehow that's a license to insult people. 0:01:26.480 --> 0:01:30.560 Just because something is funny doesn't mean that you can 0:01:30.959 --> 0:01:36.240 denigrate people based on their race and gender and just say. 0:01:36.040 --> 0:01:39.200 Oh, okay, I was just making a joke. I thought 0:01:39.440 --> 0:01:41.080 the vile. 0:01:40.840 --> 0:01:45.679 Attacks on racial groups in the context of a political 0:01:45.800 --> 0:01:49.200 rally was horrendous and someone needs to say, yeah, okay, 0:01:49.240 --> 0:01:52.240 you can have humor, but not everything in this country 0:01:52.320 --> 0:01:55.320 can be justified just because it's funny. 0:01:55.560 --> 0:01:56.960 I just thought it was bad politics. 0:01:57.040 --> 0:01:59.280 It's like, you know, a week before the election, you know, 0:01:59.520 --> 0:02:01.920 and you know you you're gonna need Latino people, you're 0:02:01.920 --> 0:02:04.080 gonna need Black people, you're gonna need you Ash people. 0:02:04.240 --> 0:02:06.320 You just put somebody up there to insult them. It's 0:02:06.360 --> 0:02:07.000 kind of crazy. 0:02:07.600 --> 0:02:11.640 Yeah, I mean, I think it's just another misstep by 0:02:11.680 --> 0:02:14.919 the Trump campaign and Trump himself. It was a I 0:02:14.919 --> 0:02:16.520 don't know it was in I don't even know if 0:02:16.520 --> 0:02:18.480 it was desperate and I was just nuts. 0:02:19.000 --> 0:02:19.880 It didn't make sense. 0:02:20.360 --> 0:02:21.840 I don't know why you would, you know, would all 0:02:21.880 --> 0:02:24.000 due respect I'm a Knicks fan, with all due respect 0:02:24.000 --> 0:02:26.480 to New York, why you would do a rally in 0:02:26.520 --> 0:02:29.520 New York anyway when it's not a battleground state it 0:02:29.639 --> 0:02:31.640 was a political didn't make sense. 0:02:31.800 --> 0:02:34.520 It was a terrible move on this part. 0:02:35.160 --> 0:02:37.120 What's the stop Wall Street, Landlord, leg bro. 0:02:37.919 --> 0:02:41.359 You know what's going on right now is private equity. 0:02:41.560 --> 0:02:45.720 These big companies. They're buying up single family homes, and 0:02:45.760 --> 0:02:50.959 they're buying up largely in working class neighborhoods. And by 0:02:51.000 --> 0:02:53.519 doing that, they're making the prices of these homes go up, 0:02:53.880 --> 0:02:56.320 and they're making the prices of rents go up. And 0:02:56.360 --> 0:02:59.840 you're in my tax dollars or subsidizing them. So this says, 0:03:00.160 --> 0:03:02.760 up giving them a subsidy. You shouldn't have Wall Street 0:03:02.840 --> 0:03:06.320 firms getting tax dollars to go buy up single family homes. 0:03:06.320 --> 0:03:08.280 And by the way, they're doing them largely in black 0:03:08.320 --> 0:03:12.480 and brown communities across this country, and it's outrageous. 0:03:12.080 --> 0:03:13.240 And so what are you all trying to stop? 0:03:13.280 --> 0:03:14.840 Exactly stops the subsidies. 0:03:15.080 --> 0:03:19.720 So right now, Freddie mac Fanny May basically finance their 0:03:19.760 --> 0:03:23.520 loans if they want to get a mortgage to buy 0:03:23.600 --> 0:03:26.240 up these homes. Four hundred and five hundred thousand, Freddie 0:03:26.240 --> 0:03:28.760 Mack and Fanny May are giving them subsidized loans with 0:03:28.880 --> 0:03:32.400 your tax dollars. We're saying no subsidies, no tax dollar 0:03:32.480 --> 0:03:35.120 subsidies for them. The reason it started is after the 0:03:35.160 --> 0:03:38.720 two thousand and eight crash, property values were totally depressed, 0:03:38.840 --> 0:03:41.840 and it made sense to say, okay, we needed some 0:03:42.080 --> 0:03:45.680 Wall Street investment to rebuild the home market. But that 0:03:45.720 --> 0:03:48.360 was two thousand and eight. It's now twenty twenty four 0:03:48.720 --> 0:03:51.160 and the prices are through the roof. People can't afford houses. 0:03:51.200 --> 0:03:53.280 It's one of the two things we could do, the 0:03:53.320 --> 0:03:56.320 biggest things to get housing more affordable. One is to 0:03:56.400 --> 0:03:59.560 stop subsidizing private equity institutional investors. 0:03:59.560 --> 0:04:01.280 The other is to build more housing. 0:04:01.400 --> 0:04:03.040 If you stop Wall Street from doing it, how do 0:04:03.080 --> 0:04:04.680 you make it the way people from the community can 0:04:04.720 --> 0:04:08.040 actually purchase those not just purchase those homes, but have 0:04:08.400 --> 0:04:10.840 the equity to reinvest into those homes and you know, 0:04:10.840 --> 0:04:11.480 renovate them. 0:04:12.480 --> 0:04:14.640 Well, that's a big, big question. 0:04:14.760 --> 0:04:19.560 Why home ownership has gone down. The biggest source of wealth. 0:04:20.520 --> 0:04:22.600 You know, home ownership is about sixty two percent in 0:04:22.640 --> 0:04:26.080 the white community, forty five percent in the black community. 0:04:26.800 --> 0:04:27.840 One, you need to. 0:04:27.640 --> 0:04:30.160 Build more homes so that you can bring the price down. 0:04:31.160 --> 0:04:33.200 But you know the bottom line is you got to 0:04:33.240 --> 0:04:36.120 have higher paying jobs. I mean, you've had jobs in 0:04:36.160 --> 0:04:39.960 this country with the working in middle class stagnate in wages. 0:04:40.480 --> 0:04:42.560 And one of the reasons I wanted to come on 0:04:42.720 --> 0:04:44.840 and JA and I've been working on is you know, 0:04:44.880 --> 0:04:50.719 I represent Silicon Valley twelve trillion dollars of value, Apple, Google, Intel, 0:04:50.800 --> 0:04:51.400 and Vidia. 0:04:51.640 --> 0:04:53.360 We've got to create those. 0:04:53.240 --> 0:04:57.560 High paying jobs in many other parts of America. 0:04:57.720 --> 0:05:00.160 For you look at the bulk of wealth. 0:05:00.040 --> 0:05:02.440 Generation in this country over the last forty years, a 0:05:02.480 --> 0:05:05.520 lot of it has come out of technology, and whether 0:05:05.600 --> 0:05:08.920 it's high paying manufacturing or high paying technology jobs. We've 0:05:08.920 --> 0:05:11.680 got to actually do that in communities so people could 0:05:11.680 --> 0:05:13.159 go have a salary to buy a house. 0:05:13.920 --> 0:05:14.760 We built We. 0:05:14.760 --> 0:05:18.599 Did a summit A and I and others in Claflet 0:05:18.680 --> 0:05:23.120 with forty historically black colleges and universities. We got Apple there, 0:05:23.160 --> 0:05:25.800 we got Google there, we got Nvidia, we got Microsoft. 0:05:26.200 --> 0:05:30.520 They've created a program seventy one percent placement rate, eighteen 0:05:30.560 --> 0:05:33.240 month course, ten hours a week. You end up with 0:05:33.279 --> 0:05:36.800 a sixty five to one hundred thousand dollars job in 0:05:36.960 --> 0:05:40.200 different technology skills. It doesn't even require coding. We've got 0:05:40.200 --> 0:05:43.240 to create more opportunities for people to actually build wealth 0:05:43.279 --> 0:05:45.080 in a modern economy. That's how they're going to be 0:05:45.120 --> 0:05:46.040 able to afford housing. 0:05:46.200 --> 0:05:48.680 What what's your thoughts on you know, some people believe 0:05:48.760 --> 0:05:52.400 that these huge companies that you've name should be taxed more, 0:05:52.480 --> 0:05:54.520 and some people feel like they shouldn't be taxed as much. 0:05:54.560 --> 0:05:56.240 Give them the tax benefits because if not, they can 0:05:56.279 --> 0:05:59.120 take their business overseas. What are your thoughts on that. 0:05:59.240 --> 0:06:00.000 They should be taxed? 0:06:00.279 --> 0:06:03.120 I mean, look, we're producing in my district more wealth 0:06:03.320 --> 0:06:06.920 in one zip code than anywhere that has ever been 0:06:06.920 --> 0:06:09.560 produced in the history of humanity. You can tax these 0:06:09.560 --> 0:06:12.400 people more. Some of them aren't even paying Some of 0:06:12.400 --> 0:06:15.080 the companies aren't even paying the full tax because they 0:06:15.640 --> 0:06:20.800 are avoiding through having some of their operations offshore. And 0:06:20.880 --> 0:06:23.760 certainly you can tax the stock buybacks that they engage 0:06:23.800 --> 0:06:28.320 in more. You can tax them once they are passing 0:06:28.400 --> 0:06:31.120 money down to their kids more to provide people with 0:06:31.160 --> 0:06:36.560 the basic things healthcare, education, childcare. But here's and that's 0:06:36.600 --> 0:06:40.520 what Kamala Harris wants to do. But here's the thing. 0:06:40.920 --> 0:06:44.760 Just taxing the wealth is not enough. Just taxing and 0:06:44.800 --> 0:06:47.400 redistribution is not enough. We've got to figure out in 0:06:47.440 --> 0:06:50.279 this country, how are we going to get people to 0:06:50.360 --> 0:06:52.800 actually build wealth. How are we actually going to get 0:06:52.800 --> 0:06:55.960 people to have good paying jobs. How are we actually 0:06:55.960 --> 0:06:59.680 going to have wealth generation opportunities. Why in the world 0:06:59.760 --> 0:07:03.280 is it that all of the wealth largely has been 0:07:03.320 --> 0:07:07.960 concentrated in a few cities. Why is it that we're 0:07:08.120 --> 0:07:13.720 fine with black people, with Lataino people being users of technology. 0:07:13.880 --> 0:07:17.280 You know, all of the clips you have, they go viral, 0:07:17.600 --> 0:07:20.280 they're all over. You wouldn't have social media if it 0:07:20.320 --> 0:07:23.960 weren't for the creators of content. But where are they 0:07:23.960 --> 0:07:26.840 in the boardrooms? Where are they in the founder as founders? 0:07:26.880 --> 0:07:30.520 Where are they at venture capitalists? I taught at Stanford. 0:07:31.880 --> 0:07:34.840 My kids used to get funding before they had an idea. 0:07:35.600 --> 0:07:38.200 You know why, because they had the right email address, 0:07:39.320 --> 0:07:41.360 just like I had to fight to get on this show, 0:07:41.440 --> 0:07:42.080 Charlot min show. 0:07:42.080 --> 0:07:43.240 You got to know the right people. 0:07:43.760 --> 0:07:46.200 Well, a lot of people have to fight to get 0:07:46.200 --> 0:07:48.560 on venture, to get in the board the room with 0:07:48.600 --> 0:07:52.320 the venture capitalists. They have no idea how to get funding. Now, 0:07:52.320 --> 0:07:55.239 why am I passionate about this because when the Indian 0:07:55.280 --> 0:07:58.240 American community came here post sixty five, and there's a 0:07:58.280 --> 0:08:00.640 long history, and I just go into it for a 0:08:00.640 --> 0:08:05.520 one minute, because Vice President Harris went to Howard University, 0:08:06.000 --> 0:08:08.440 and it gets to this whole Trump thing with are 0:08:08.480 --> 0:08:10.960 you South Asian or are you black? The reality is 0:08:11.000 --> 0:08:16.040 there's a deep tie. Mordecai Johnson from Howard University went 0:08:16.080 --> 0:08:20.640 to India. He learned about Gandhi. Nineteen forty nine. He's 0:08:20.680 --> 0:08:25.200 speaking at Lincoln University in Pennsylvania. A young doctor King 0:08:25.320 --> 0:08:28.160 is in the audience, and he talks about Satiegra in 0:08:28.200 --> 0:08:31.360 the freedom movement. My grandfather spent four years in jail 0:08:31.400 --> 0:08:34.760 alongside Gandhi as part of the Indian independence moment. King 0:08:35.160 --> 0:08:39.720 and John Lewis take those teachings. King has a Bible 0:08:40.080 --> 0:08:42.760 and the Gandhi Reader with him at all times. You 0:08:42.840 --> 0:08:45.200 go to his house today, it has those two books. 0:08:45.720 --> 0:08:48.040 And it leads to not just the Civil Rights Act, 0:08:48.720 --> 0:08:51.560 it leads to the nineteen sixty five immigration reformat that 0:08:51.600 --> 0:08:54.680 allows my parents to come to the United States. Indians 0:08:54.679 --> 0:08:56.440 and others weren't allowed to come to the United States. 0:08:56.760 --> 0:08:59.280 You know who hires the Indian American community when we 0:08:59.320 --> 0:09:03.600 come here in terms of jobs, It's not Stanford. It's 0:09:03.600 --> 0:09:07.439 not Harvard. You know who hired Nicky Haley's father, an 0:09:07.720 --> 0:09:12.360 HBCU historically Black college. By the way, they hired all 0:09:12.400 --> 0:09:15.280 of the Jewish professors who came when they were leaving 0:09:15.440 --> 0:09:19.080 the Holocaust. It wasn't Harvard or Stanford. Now you look today, 0:09:19.120 --> 0:09:22.280 I'm a product of the Civil Rights moan. I wouldn't 0:09:22.280 --> 0:09:24.160 be born in the United States. My parents won't be here. 0:09:25.440 --> 0:09:29.160 What is the endowment of Stanford University where I taught? 0:09:29.720 --> 0:09:34.880 Forty billion dollars? He had one hundred HBCUs. They've produced 0:09:34.960 --> 0:09:38.439 Doctor King, They've produced John Lewis, They've produced WB du Bois, 0:09:38.440 --> 0:09:41.560 They've produced thurgand Marshall, They've produced Kamala Harrison. What is 0:09:41.600 --> 0:09:45.680 the endowment of all hundred of those HBCUs combined? 0:09:47.520 --> 0:09:48.240 Four billion? 0:09:49.440 --> 0:09:53.160 One? Has Stanford produced Martin Luther King? Has it produced WB? 0:09:53.280 --> 0:09:53.679 D Boys? 0:09:53.720 --> 0:09:57.360 Now they got forty billion dollars? The HBCUs have four 0:09:57.400 --> 0:10:02.119 billion dollars one tenth all of them of one university, 0:10:02.920 --> 0:10:05.040 and then they're wondering, why is it that we don't 0:10:05.080 --> 0:10:08.560 have economic opportunity in this country. So my view is, yes, 0:10:08.600 --> 0:10:11.400 you got a tax the people. It's a valley, but 0:10:11.520 --> 0:10:18.400 we need massive economic investment in these HBCUs, in in 0:10:19.080 --> 0:10:22.199 young people to give them an actual opportunity. 0:10:21.720 --> 0:10:22.280 To build wealth. 0:10:23.320 --> 0:10:28.559 Biden Harris providing additional additional funding of seventeen billion. 0:10:29.440 --> 0:10:32.319 They did, they did, but it was one time. It 0:10:32.360 --> 0:10:35.360 was an American rescue plan. And that's one of the 0:10:35.360 --> 0:10:37.640 things I think the Vice President needs to talk more about. 0:10:37.679 --> 0:10:41.559 And she has, you know that, But it was one time. 0:10:42.160 --> 0:10:45.960 Why can't we have ten billion dollars a year for 0:10:46.120 --> 0:10:48.080 historically black colleges and universities? 0:10:48.160 --> 0:10:48.800 You know what we do? 0:10:48.840 --> 0:10:51.040 We say, Oh, you're not at our one school, research 0:10:51.080 --> 0:10:52.440 one school, Well how are you going to be in 0:10:52.679 --> 0:10:53.720 research one school? 0:10:53.800 --> 0:10:54.560 You don't have a resource. 0:10:54.720 --> 0:10:55.640 Well you don't have the resource. 0:10:55.720 --> 0:10:57.960 Let me ask you a question, though, right, So I 0:10:58.000 --> 0:11:00.000 believe in you, and I feel like, especially our community, 0:11:00.040 --> 0:11:02.959 most of our generational wealth starts from home ownership, right 0:11:03.000 --> 0:11:06.640 passed down from generations to generations. One question I do 0:11:06.679 --> 0:11:09.240 have is sometimes when they put these laws into effect, 0:11:09.600 --> 0:11:11.679 it just doesn't affect the people they are trying to get. 0:11:11.720 --> 0:11:13.640 It affects other people. Let me break it down, right, So, 0:11:14.120 --> 0:11:16.319 for instance, my dad was a police officer. A police 0:11:16.320 --> 0:11:20.000 officer he retired. My mother worked at a life insurance company. 0:11:20.200 --> 0:11:22.200 Didn't make a lot of money. They saved all their life. 0:11:22.200 --> 0:11:24.400 They bought their first house with twenty eight thousand dollars right, 0:11:24.760 --> 0:11:26.640 lived in that house for forty six years, So now 0:11:26.640 --> 0:11:29.360 it's worth let's say, five hundred thousand dollars, six hundred 0:11:29.400 --> 0:11:33.520 thousand dollars. When they pass they pay taxes on that house. 0:11:33.679 --> 0:11:35.840 They paid everything that they needed to pay for the 0:11:35.840 --> 0:11:38.120 rest of their life. When they passed that house down 0:11:38.160 --> 0:11:40.640 to their child, they have to pay taxes on that. 0:11:40.760 --> 0:11:43.120 That child who gets that house has to pay taxes 0:11:43.160 --> 0:11:46.120 on that. Again, that's behind the buck for somebody that's 0:11:46.160 --> 0:11:48.640 trying to make it. Now, if this was somebody else, 0:11:48.679 --> 0:11:50.720 like let's say Donald Trump that received a million dollar 0:11:50.760 --> 0:11:53.160 loan and his family has wealth, I understand it. But 0:11:53.480 --> 0:11:57.400 how can somebody in these communities create wealth when they're 0:11:57.400 --> 0:12:00.320 getting taxed twice like somebody else. They don't don't have 0:12:00.320 --> 0:12:03.239 the same tax breaks, they don't know the same accountants. 0:12:03.480 --> 0:12:05.800 That's my only problem when I hear some of these things, 0:12:05.800 --> 0:12:08.959 because I get it, Yes, people have to pay their 0:12:08.960 --> 0:12:11.040 fair share. When you have people that come from those 0:12:11.040 --> 0:12:13.960 communities that are trying to create generational wealth for the 0:12:13.960 --> 0:12:16.480 first time, first time millionaires, first time people making five 0:12:16.559 --> 0:12:19.040 hundred thousand dollars, it affects and hurt them as well. 0:12:19.600 --> 0:12:21.800 Especially too, because a lot of times in those situations, 0:12:22.040 --> 0:12:24.000 by the time it's passed down to that second or 0:12:24.000 --> 0:12:27.720 third generation, the mom, dad, grandmother may owe money that 0:12:27.840 --> 0:12:30.280 now you inherit and it's a lumpsum. So it's not 0:12:30.360 --> 0:12:31.720 just like, oh, I got to pay the tax for 0:12:31.760 --> 0:12:34.199 this year. It might be like a lot of money 0:12:34.200 --> 0:12:36.360 that they've just been figuring it out and now you know, 0:12:36.679 --> 0:12:38.160 and now it's in your lap and you got to 0:12:38.160 --> 0:12:39.880 figure that out or you don't own that house anymore. 0:12:39.920 --> 0:12:41.839 So what do you say to those people are saying like, yeah, 0:12:42.200 --> 0:12:44.080 I agree, but you know, my mom just saw she 0:12:44.120 --> 0:12:46.720 paid twenty eight thousand, I sold it for five hundred thousand, 0:12:46.720 --> 0:12:49.320 and now they're taking forty percent taxes on property that 0:12:49.360 --> 0:12:51.679 she already paid tax. How can they create generational wealth 0:12:51.720 --> 0:12:53.840 when they're starting behind the eight ball already. 0:12:54.120 --> 0:12:54.600 I hear you. 0:12:54.720 --> 0:12:59.040 I think we should have an exemption for passing down 0:12:59.240 --> 0:13:03.319 your actual house house to family. Maybe exempt the first 0:13:03.840 --> 0:13:06.319 two million or up to three five million, and we 0:13:06.360 --> 0:13:09.400 could figure it out, and that's not going to cost 0:13:09.400 --> 0:13:12.280 the federal government a lot of revenue. You know what's 0:13:12.360 --> 0:13:16.000 going on right now, because while you're taxing the guy 0:13:16.080 --> 0:13:19.520 you're talking about, or daughter you're talking about, or is 0:13:19.520 --> 0:13:21.839 getting a half a million dollar house passed to them, 0:13:21.840 --> 0:13:24.640 and they're having to pay tax. At the same time, 0:13:24.640 --> 0:13:28.400 you got these multi billionaires in my district in Silicon Valley. 0:13:29.080 --> 0:13:32.680 They buy Facebook stock for one thousand bucks, that stock 0:13:33.040 --> 0:13:36.600 goes up to one hundred thousand, They pass that stock, 0:13:36.640 --> 0:13:39.319 they don't pay capital gains tax on it. Then they 0:13:39.360 --> 0:13:42.360 pass that stock down to their kids, and their kids 0:13:42.400 --> 0:13:45.240 don't pay any of the appreciation. So you've got a 0:13:45.360 --> 0:13:49.120 rigged system that is hurting the working and middle class 0:13:49.120 --> 0:13:53.560 from building wealth and allowing the top one percent to 0:13:53.600 --> 0:13:56.560 continue to build without paying tax. And the Republicans are 0:13:56.600 --> 0:13:58.640 very clever. Every time we say we want to tax 0:13:58.720 --> 0:14:01.360 that top one or ten percent, and they talk about 0:14:01.360 --> 0:14:03.400 all the other eighty percent, They said, your taxes are 0:14:03.400 --> 0:14:05.600 going to go up but the Democrats have to say 0:14:05.640 --> 0:14:08.280 is no, you're working class, you're middle class. You want 0:14:08.280 --> 0:14:10.600 to build wealth, We're going to give you an exemption. 0:14:10.880 --> 0:14:14.440 We're going to shift the tax burden to the multi 0:14:14.440 --> 0:14:18.400 millionaires who have benefited from this system. But one more 0:14:18.440 --> 0:14:20.680 point to you, and look, I'm all for home ownership. 0:14:20.880 --> 0:14:24.200 I think home ownership is we've got to figure out 0:14:24.280 --> 0:14:27.600 more ways to get the disparity not to be sixty 0:14:27.640 --> 0:14:30.360 two percent in the white community of forties low forty 0:14:30.360 --> 0:14:34.000 percent of the black communities. But technology, here's what I 0:14:34.080 --> 0:14:39.160 fundamentally believe. It's a generational opportunity to overcome the racial 0:14:39.240 --> 0:14:42.600 wealth generation gap. One generation the. 0:14:42.600 --> 0:14:44.320 Black community was excluded. 0:14:43.840 --> 0:14:47.200 In the agricultural revolution with the loans from the USDA 0:14:47.320 --> 0:14:51.840 that we're targeted excluding the manufacturing revolution. Shame on US 0:14:51.880 --> 0:14:54.800 as a country in twenty twenty four. If we exclude 0:14:54.800 --> 0:14:58.600 communities from the digital revolution, there is an opportunity in 0:14:58.720 --> 0:15:03.720 one generation to build extraordinary wealth with AI, with new technology, 0:15:03.760 --> 0:15:07.000 with new industry. And that's what I want to try 0:15:07.040 --> 0:15:09.960 to say, is why don't we get these opportunities to 0:15:10.520 --> 0:15:14.080 do more of the community so they actually can build 0:15:14.160 --> 0:15:17.520 wealth that you never will overcome the racial wealth generation 0:15:17.680 --> 0:15:21.040 gap just with taxation and redistribution unless you overcome the 0:15:21.120 --> 0:15:22.560 racial wealth generation gap. 0:15:23.320 --> 0:15:26.120 Thank you, okay, And that's one of the reasons I'm 0:15:26.160 --> 0:15:26.520 here too. 0:15:26.600 --> 0:15:29.120 The work that Roe and I are working on, there's 0:15:29.160 --> 0:15:33.200 a nonprofit organization based in Charleston, South Carolina called the 0:15:33.240 --> 0:15:33.920 Next It Girl. 0:15:34.680 --> 0:15:35.520 And what it does. 0:15:35.600 --> 0:15:38.760 It works for girls from eight to twenty two, black girls, 0:15:38.760 --> 0:15:42.880 girls of color, introducing them to technology careers and concepts. 0:15:43.440 --> 0:15:48.040 Is a program that we're starting out in Charleston, branches 0:15:48.040 --> 0:15:53.480 in Atlanta, Georgia, in Indianapolis, Indiana. The work that Rowe 0:15:53.520 --> 0:15:57.680 has been doing around connecting Silicon Valley with black and 0:15:57.680 --> 0:16:00.520 brown communities and rural communities all over the country is 0:16:00.560 --> 0:16:03.720 vitally important. We can I mean, we we see the 0:16:04.640 --> 0:16:09.000 growth opportunities and technology and we have to really invest 0:16:09.000 --> 0:16:10.880 in that. And let me go back to your your 0:16:10.920 --> 0:16:15.960 other question about homeownership, especially when talking about past down 0:16:16.320 --> 0:16:19.760 economics inheritance. One thing I also think we need to do, 0:16:19.800 --> 0:16:21.960 and it's the work I've been doing in South Carolina, 0:16:22.160 --> 0:16:25.440 is that we have to bring back financial literacy in 0:16:25.480 --> 0:16:26.920 our in our schools. 0:16:26.720 --> 0:16:28.440 Especially especially for our community. 0:16:28.800 --> 0:16:33.560 I mean, uh, sometimes we're like first time homeowners and 0:16:33.560 --> 0:16:37.640 and we don't really know all of the tax opportunities 0:16:37.640 --> 0:16:40.680 and loopholes, and you know, not cheating on your taxes, 0:16:40.720 --> 0:16:43.720 but realizing that you may need to hire an accountant, 0:16:44.320 --> 0:16:46.480 and you know, for if your mama ain't had no 0:16:46.520 --> 0:16:48.960 account and how do you know that that that that's 0:16:49.000 --> 0:16:52.000 an important part of being an adult. So working with 0:16:52.040 --> 0:16:54.440 financial literacy in our schools is vitally important. 0:16:54.480 --> 0:16:55.440 We need to invest in that. 0:16:55.720 --> 0:16:58.960 I agree, you know, it's interesting, right, because that's why 0:16:58.960 --> 0:17:02.840 I like the Vice President's Opportunity Economy plan, because that's 0:17:02.880 --> 0:17:04.480 the type of conversations that she's having. 0:17:04.520 --> 0:17:06.480 That's those the type of conversations that she's been having. 0:17:06.680 --> 0:17:09.760 And it always it bugs me out right because for 0:17:09.840 --> 0:17:13.720 the longest, we always thought the economy did better under Republicans, 0:17:13.720 --> 0:17:15.800 Like I don't know why that's the narrative, but that's 0:17:15.840 --> 0:17:19.040 always been the narrative. But if you look the economy 0:17:19.080 --> 0:17:21.280 all since World War Two, the economy has always done 0:17:21.359 --> 0:17:23.200 better under a Democrat president. 0:17:23.400 --> 0:17:25.160 Why isn't that messaging out there more? 0:17:26.119 --> 0:17:26.800 I Richard was. 0:17:26.840 --> 0:17:28.879 I know, I've heard you say this a number of times, 0:17:29.000 --> 0:17:31.840 And what pays me the most in this entire election 0:17:32.440 --> 0:17:34.720 is that we're down four or five points on the economy. 0:17:34.720 --> 0:17:37.520 We should be up ten points on the economy. And 0:17:37.600 --> 0:17:41.119 it's not rocket science. It's not just that you know, 0:17:41.160 --> 0:17:43.439 as Bill Clinton pointed out, there have been fifty million 0:17:43.520 --> 0:17:46.919 jobs created under the last few Democratic presidents compared to 0:17:46.960 --> 0:17:50.280 one million jobs compared to created by the last a 0:17:50.320 --> 0:17:51.720 few Republican presidents. 0:17:52.040 --> 0:17:53.679 Is just look at the philosophy. 0:17:53.800 --> 0:17:57.080 Eleven recessions, ten of them have been Republican presidents. 0:17:57.359 --> 0:18:00.119 I think the problem to the saying, I think a 0:18:00.320 --> 0:18:04.399 Democrats we tell the truth, and Republicans don't mind being dishonest, 0:18:04.960 --> 0:18:08.040 and they'll take ownership and credit for the work that 0:18:08.359 --> 0:18:12.920 we've done on a democratic administration in Congress, for example, 0:18:12.920 --> 0:18:17.880 a perfect example is Trump with the stimulus checks, where. 0:18:17.680 --> 0:18:21.240 It was it was a decisive yeah it was. 0:18:21.480 --> 0:18:24.679 It was the Democratic Congress, Roll Connors, so many others 0:18:24.760 --> 0:18:26.240 that that passed it. 0:18:26.280 --> 0:18:27.760 And all he did was sign his name on the 0:18:27.760 --> 0:18:28.119 front of it. 0:18:28.880 --> 0:18:30.320 Good market. 0:18:30.920 --> 0:18:32.920 But you look at it, you're unless, say you're twenty 0:18:32.920 --> 0:18:35.080 five thirty years old, you're thinking, Okay, who's going to 0:18:35.160 --> 0:18:37.960 help me build wealth in this country? 0:18:38.600 --> 0:18:38.800 Now? 0:18:38.920 --> 0:18:40.560 What what is Donald Trump? Actually? 0:18:40.560 --> 0:18:42.639 I know he's got all this bs platinum plan. But 0:18:42.680 --> 0:18:45.000 what is he actually offering? So he's going to give 0:18:45.000 --> 0:18:48.200 you tax cuts if you've already made it, Okay, fine, 0:18:48.240 --> 0:18:51.560 you're in my district. You got a job already making 0:18:51.560 --> 0:18:52.480 millions of dollars. 0:18:52.560 --> 0:18:56.040 He's going to cut your taxes. He's going to deregulate. 0:18:56.320 --> 0:18:58.200 Okay, how does that help you as a twenty five 0:18:58.280 --> 0:19:01.080 or thirty year old that he's going to cut regulations 0:19:01.119 --> 0:19:03.520 for some of these businesses, that's what he's going to do, 0:19:03.600 --> 0:19:06.159 and maybe he's going to put tariffs on for some 0:19:06.200 --> 0:19:08.560 of the products. So how does that help you? How 0:19:08.560 --> 0:19:10.639 does it actually help you build wealth? Now you look 0:19:10.680 --> 0:19:14.119 at the democrats of the opportunity economy, what Kamala Harris 0:19:14.160 --> 0:19:16.640 is actually going to do. She's going to make sure 0:19:16.680 --> 0:19:19.520 that you have some shot of getting funding for your 0:19:19.520 --> 0:19:22.800 business because you don't have the connections that Donald Trump 0:19:22.920 --> 0:19:25.760 or his people have to New York or Silicon Valley 0:19:25.800 --> 0:19:28.200 to get financing. She's going to actually make sure your 0:19:28.200 --> 0:19:31.760 business plan gets a look and gets you funding. She's 0:19:31.800 --> 0:19:34.000 going to make sure that we're investing in you and 0:19:34.040 --> 0:19:36.840 your kids to get a credential so you can actually 0:19:36.880 --> 0:19:39.240