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Speaker 1: To a basic question what is America? And I would

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Speaker 1: my kind of economic role model is Peter Drucker. I

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Speaker 1: think an economy in America exist to create a robust

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Speaker 1: middle class. The most ascending countries over the last twenty

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Speaker 1: years have been China and India. And it's a one

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Speaker 1: basic litmus test, how many people are you bringing into

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Speaker 1: the middle class. The greatest innovation in history, it's not

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Speaker 1: the iPhone of the semiconductor, it's the American middle class

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Speaker 1: that beatback fascism in the middle of World War two,

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Speaker 1: has finance and build the greatest innovations, whether it's radar,

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Speaker 1: whether it's the Internet, whether it's vaccines. The middle class

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Speaker 1: in America is the greatest innovation in history. And people

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Speaker 1: like to fall back into this right wing notion that

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Speaker 1: it's naturally self healing.

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Speaker 2: It's not.

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Speaker 1: It's an accident in history. Typically throughout history, you have

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Speaker 1: a small number of people who weaponize government. They're very talented,

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Speaker 1: they aggregate power, they weaponize government, and they aggregate more

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Speaker 1: and more spoils. And then the good news is it's

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Speaker 1: self correcting. This level of income equality is usually self correcting.

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Speaker 1: The bad news is the means of self correction are

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Speaker 1: typically war, famine, revolution. And if you want to talk

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Speaker 1: about tax policy, the myth and tax policy is that

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Speaker 1: the rich don't pay their taxes. That's just not true.

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Speaker 1: That the focrum is the following. They're super owners and

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Speaker 1: super owners. The folks around your table are probably considered

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Speaker 1: super owners. You make exceptional livings, but it's all current

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Speaker 1: income reported on a W two. And if you live

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Speaker 1: in New Jersey or New York, you're probably paying forty

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Speaker 1: eight to fifty two percent tax rates. But if you're

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Speaker 1: a superowner. I make my livings starting and selling businesses.

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Speaker 1: My last business which was sold for one hundred and

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Speaker 1: sixty million dollars. I'm very transparent about money. This gestalt

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Speaker 1: or zeitgeist that people should not talk about in money,

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Speaker 1: it's nothing but an attempt to keep poor people down

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Speaker 1: because rich people talk about money all the time. It's

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Speaker 1: important to be financially literate. The first ten million dollars

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Speaker 1: for my one hundred and sixty million dollars sale was

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Speaker 1: tax free. My effective tax rate over the last ten

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Speaker 1: years has been seventeen percent. The average tax rate on

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Speaker 1: the wealthiest twenty five Americans is six percent. Corporate tax

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Speaker 1: rates are at their lowest points since nineteen thirty nine.

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Speaker 1: At the same time, taxes have gone up for the

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Speaker 1: super owners. Now the bottom fifty percent don't pay much

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Speaker 1: federal income tax, but they pay a lot of usage

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Speaker 1: and consumption taxes. But this misdirect talking about tax rates

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Speaker 1: misses the point. It's the tax code which has gone

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Speaker 1: from four hundred pages to four thousand, and that thirty

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Speaker 1: six hundred pages, quite frankly, is there to screw the

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Speaker 1: middle class and continue to transfer more money to.

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Speaker 2: The super wealthy.

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Speaker 1: The fastest growing demographic group in America is not seniors,

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Speaker 1: it's not latins, it's billionaires. We have five hundred billionaires

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Speaker 1: ten years ago. We now have twenty five hundred. So

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Speaker 1: if you want to cram more and more wealth into

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Speaker 1: a smaller group of people, we're on our way. And

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Speaker 1: the weird thing about America is that we support it

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Speaker 1: because our superpower is are optimism. The Achilles heel is

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Speaker 1: the ninety nine percent, The bottom ninety nine percent who

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Speaker 1: are getting screwed, don't mind these policies because they believe

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Speaker 1: at some point they're going to be in that way

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Speaker 1: one percent. But where are we We're in a country

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Speaker 1: that's had unprecedented prosperity, but similar to the way William

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Speaker 1: Gibson described the future, it has not been evenly distributed.

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Speaker 1: When forty percent of US household are struggling with some

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Speaker 1: sort of medical or dental debt, when a quarter twenty

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Speaker 1: percent of households with kids are food insecure, and yet

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Speaker 1: we have one man, Jensen Wong, and I like Jensen,

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Speaker 1: who is now worth more than Boeing. I mean something

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Speaker 1: is wrong here, and just let me go to the

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Speaker 1: psychology of happiness. I think a lot about happiness because

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Speaker 1: I struggle with a Joe. You effectively, once you get

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Speaker 1: above a certain level of wealth, you get no incremental happiness.

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Speaker 1: So why on earth would you not go back to

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Speaker 1: a tax policy of the sixties, seventies and eighties, orre

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Speaker 1: say above pick a big number, ten million, you actually

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Speaker 1: pay more than ten percent, maybe more than twenty percent,

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Speaker 1: maybe more than fifty percent, because the difference between thirty

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Speaker 1: thousand a year for a household and fifty thousand is

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Speaker 1: enormous to the well of that household. Low income kids

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Speaker 1: in long incomb households have higher resting blood pressure, but

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Speaker 1: the difference between making ten million a year and fifteen

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Speaker 1: million a year offers.

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Speaker 2: You no happiness.

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Speaker 1: But these individuals have weaponized government and we risk revolution.

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Speaker 1: Whether it's CEOs being murdered in the street, whether it's

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Speaker 1: a me too movement that had righteous components of it,

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Speaker 1: or black lives matter, what are these movements? They are

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Speaker 1: targeting the wealthy. We are in the midst of a

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Speaker 1: series of small revolutions to correct income inequality. And the

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Speaker 1: reason we put an insurrectionist in a rapist in office

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Speaker 1: is because, for the first time in our nation's history,

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Speaker 1: a thirty year old man or woman isn't doing as

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Speaker 1: well as his or his or her parents where at thirty.

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Speaker 1: Why Because the majority of households are having the oxygen

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Speaker 1: stucked out of the room, such as a small number

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Speaker 1: of individuals and a small number of companies can be

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Speaker 1: worth more than nation States. Income in equality is out

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Speaker 1: of control. Our tax policy has gone full oligarch.

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Speaker 2: This is the revolutionary moment we're in. They do not intend.

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Speaker 2: They do not intend to turn over this government to

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Speaker 2: President Trump. They do not. They'll be forced to, but

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Speaker 2: they do not intend. This is the primal scream of

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Speaker 2: a dying regime. Pray for our enemies because we're going

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Speaker 2: to medieval on these people. You've not got a free shot.

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Speaker 3: All these networks lying about the people, the people have

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Speaker 3: had a belly full of it.

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Speaker 2: I know you don't like hearing that. I know you

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Speaker 2: trying to do everything in the world to stop that,

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Speaker 2: but you're not going to stop it. It's going to happen.

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Speaker 2: And where do people like that go to share the

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Speaker 2: big line? Mega media?

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Speaker 3: I wish in my soul, I wish that any of

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Speaker 3: these people had a conscience. Ask yourself, what is my

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Speaker 3: task and what is my purpose? If that answer is

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Speaker 3: to save my country, this country will be saved.

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Speaker 2: War Room. Here's your host, Stephen k Back.

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Speaker 3: Okay, it's Wednesday, eight January in the Ear of the Lord,

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Speaker 3: twenty twenty five. We got an awful lot to get

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Speaker 3: to today, but I got to start with kind of

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Speaker 3: here's one of the principal reasons the country is in

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Speaker 3: the shape of this because of those whiny bitches right

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Speaker 3: there in morning Joe led by the Big One or

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Speaker 3: Scott Galloway, And dude, when you're on this thing, don't

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Speaker 3: lay out your psychological problems.

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Speaker 2: You know, I struggle with happiness. I don't care what

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Speaker 2: you struggle with, bro.

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Speaker 3: You know the reason that the middle class has been

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Speaker 3: assault in, the working class have been destroyed. Galloway, you

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Speaker 3: you you look in the mirror and look at the

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Speaker 3: problem at you, you people in that whole morning, Joe,

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Speaker 3: That's that's the Washington consensus. What have you guys done

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Speaker 3: for you? You've been in charge most of the time.

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Speaker 3: You would charge you by the what what did you do?

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Speaker 3: What did you do? And you have the gall to

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Speaker 3: refer to President Trump as an insurrectionist and a rapist.

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Speaker 2: Screw you, dude.

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Speaker 3: I refer to the paper of record to back me up.

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Speaker 3: This is Saturday's a day. Excuse me, this is Monday's edition,

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Speaker 3: January sixth, the four year anniversary of Patriots Day. Right there,

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Speaker 3: that article by Jonathan Weisman of the New York Times

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Speaker 3: takes up how Democrats lost the working class vote right there,

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Speaker 3: and it lays out Robert Reich.

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Speaker 2: It goes in excruciating detail, Bro, of.

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Speaker 3: How you used to have a working class party, and

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Speaker 3: starting with Clinton, you abandoned the working class. You abandoned

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Speaker 3: the middle class, and you never say anything about it.

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Speaker 3: I understand you don't don't know anything about financial economics

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Speaker 3: because you're a marketing professor.

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Speaker 2: This is how desperate they are.

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Speaker 3: They got some clown marketing professor over at that struggles

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Speaker 3: with happiness.

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Speaker 2: I struggle with happits. I don't care.

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Speaker 3: Don't give me the psychology. I don't care about your

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Speaker 3: your problems. Take your problem somewhere else, your personal problems.

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Speaker 2: You know, I struggle with happiness too.

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Speaker 3: He's supposed to be empathetic, you know, Scott, he struggles

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Speaker 3: with happiness, but he's really worried about the working Bob.

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Speaker 3: You're not worried about anybody but your own self, the

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Speaker 3: credential class.

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Speaker 2: You're the problem, bro.

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Speaker 3: When the revolution comes, and it's coming unless you follow

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Speaker 3: the path of populist nationalism.

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Speaker 2: I said this over and over again.

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Speaker 3: You are one of the first guys are going to

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Speaker 3: get swept up in it because you, in the morning,

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Speaker 3: Joe Coreheartz, had every opportunity to change things and you didn't.

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Speaker 3: And now if you got bitch slapped the second time,

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Speaker 3: you're sitting there going, oh, they.

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Speaker 2: So look at this.

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Speaker 3: The Democratic Party is a strange man from working class voters.

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Speaker 3: First became clear with mister Trump's upset of Hillary Clinton

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Speaker 3: in twenty sixteen. What did you do in the interim,

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Speaker 3: And don't tell me Bernie Sanders, that's a pillow fight.

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Speaker 3: That's a pillow fight, Bernie say, is not serious. Every

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Speaker 3: time they start talking about minimum wage, it is not serious.

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Speaker 2: It says right here.

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Speaker 3: In the end, the Democratic Party didn't focus on economics.

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Speaker 3: They did some stuff, expanded the safety net, which is

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Speaker 3: just getting the government to pay for stuff and so the.

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Speaker 2: People who should pay for it.

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Speaker 3: But in the end, Hower they bet on foreign policy,

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Speaker 3: opening China to capitalism. The donor class of the Democratic

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Speaker 3: Party the greedy donor class.

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Speaker 2: And by the way, they're in the Republican Party. Two.

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Speaker 3: That's why you can't look at Republicans and Democrats. It

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Speaker 3: is populist nationalists versus globalists, elitists and Galloway, all you

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Speaker 3: are is an apologist for a system that cannot stand.

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Speaker 3: And you had every opportunity you in the morning, Joe Crowd,

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Speaker 3: you were in charge year after we beat Hillary Clinton.

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Speaker 2: That says it right here. Don't take it from me,

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Speaker 2: Go to Jonathan Weisman.

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Speaker 3: Can we put that up paper of record New York

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Speaker 3: Times front page story on January sixth, It's that like

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Speaker 3: they're hiding it, and he goes through Robert Reich, who

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Speaker 3: we're beating on all the time. Robert Reich's the guy

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Speaker 3: tell him, waving his hand and saying, hey, guys, hey,

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Speaker 3: look over here.

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Speaker 2: You're not paying attention.

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Speaker 3: Mister Reike's message was largely unheeded for thirty years. Thirty years,

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Speaker 3: thirty years, and you have the gall played again. I

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Speaker 3: got to hear him say, I gotta hear him called

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Speaker 3: Trump and insurrection. But calling Trump and insurrection, he's calling

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Speaker 3: you in insurrections. Dude, we're the freaking solution. Okay, you're

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Speaker 3: the problem, you gutless, whiny little bitch. Play this thing again.

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Speaker 3: We can't play it. It's not cut, thank you very much.

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Speaker 3: So I want to tell you to cut it. Let's

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Speaker 3: cut it. Come on, guys, get on the fricking pro Okay,

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Speaker 3: we're going to play that in a second, because I

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Speaker 3: got to hear again.

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Speaker 2: I got here. Okay, don't yell on them, let's just

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Speaker 2: play it.

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Speaker 3: I gotta hear again from Scott Galloway's own voice, calling

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Speaker 3: you insurrectionists and calling President Trump a rapists. The only

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Speaker 3: people that have done anything to help the working class.

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Speaker 3: Galloway look back at twenty nineteen, working class wages rising

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Speaker 3: ahead of middle class wages, the wages for non college

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Speaker 3: graduates rising higher than college graduates, for blue collar workers

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Speaker 3: rising higher than white collar workers. Yes, that's because of

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Speaker 3: Trump's It was not perfect, right, I did not.

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Speaker 2: It was a bunch of battles in there. I did

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Speaker 2: not win.

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Speaker 3: That's okay. Directionally it was good. It's going to get

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Speaker 3: better because we actually did something. What did you do

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Speaker 3: when Biden was there? All these massive programges, jacked up inflation,

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Speaker 3: crust working Glas, this is why they turf dread office.

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Speaker 3: You're coming here, whine and morning Joe. There are going

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Speaker 3: to sit around with knitted brows. They got the knitted brows,

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Speaker 3: and they're gonna sit there and they're gonna think great thoughts,

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Speaker 3: the great thoughts together.

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Speaker 2: Here's the great thought.

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Speaker 3: The kid the gun down, the guy in cold blood,

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Speaker 3: shinte him in a back like a coward at point

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Speaker 3: blank range. When they start coming, they ain't coming for us.

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Speaker 3: They understand President Trump's trying to do something. They're coming

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Speaker 3: for you. That's where you're so afraid. You got a

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Speaker 3: problem with you know, I'm struggling with happiness, Joe. I'm

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Speaker 3: struggling with happiness. Dude, take your personal problems and take

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Speaker 3: him out of the room. Man, we don't care. I

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Speaker 3: don't care if you're unhappy. I hope you're miserable. I

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Speaker 3: hope you're miserable every day. I hope you get more miserable.

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Speaker 3: The marketing professor. This is how desperate they are. They

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Speaker 3: hold this guy up as some great thinker, he thinks

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Speaker 3: great thoughts. And then you throw that in there about

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Speaker 3: President Trump. A man you tried in prison or try

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Speaker 3: to do it again on Friday. A man you tried

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Speaker 3: to in prison that came back is the only guy.

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Speaker 3: And to talk to people. Talk to the voters. Don't

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Speaker 3: listen to me yelling into a microphone.

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Speaker 2: Listen to them.

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Speaker 3: They think Trump's got their backs. African Americans, Hispanics, inner

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Speaker 3: city folks. Look at what happened in the Bronx. Look

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Speaker 3: at look at this massive outturning for President Trump.

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Speaker 2: Look at it? What was that cost for? Because they

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Speaker 2: know it's not perfect, it's not perfect.

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Speaker 3: But I got to tell you, I tell President Trump,

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Speaker 3: you got to sue this guy right now. You want

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Speaker 3: to get unhappy, Hey, bro, we can get we can

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Speaker 3: get real. We can get you real. Unhappy. It's unacceptable

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Speaker 3: for a punk like you, who is part of the problem.

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Speaker 3: Remember this, you're part of the problem. In fact, I

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Speaker 3: would actually say you are the problem. The problem is

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Speaker 3: the Washington consensus that has allowed the wealthy in this

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Speaker 3: country to ransack this country and send all the jobs

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Speaker 3: over to over to China. Uh for the slave labor

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Speaker 3: of La Baijing. It's not that you made China any better.

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Speaker 3: It's not that you gave a damn about the Chinese people.

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Speaker 3: You were comfortable them being enslaved for higher profits. You

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Speaker 3: people are despicable, and you wallow there and you're you're you're,

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Speaker 3: oh my gosh, what are we going to do? Read

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Speaker 3: the Times. Don't take it from me. Read the paper.

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Speaker 2: You read that where they called you out for thirty

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Speaker 2: years has been longer than that.

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Speaker 3: Of turning your back on your countrymen, of turning your

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Speaker 3: back on the citizens of this nation.

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Speaker 2: And you, how dare you call Trump an insurrectionist?

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Speaker 3: Short break back In a moment, American