Trump's Big Beautiful Bill: What it Means for American Expats and Global Investors

Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:00):
Today, we absolutely need totalk about Donald Trump's big,
beautiful spending Bill, becauseit absolutely does affect
expats, entrepreneurs,international investors, and
just about everybody else,whether they're an American,
currently living in the country,whether they're potentially an
immigrant.
Living in the US or even maybeexpats who are US citizens

(00:23):
trying to send themselves backmoney.
Welcome to Entrepreneur Expat.
I'm Amanda.
This is Justin.
And on this channel we talkabout international business.
We talk about current eventsthat affect expats, and boy is
this one that affects expats.
We also talk about, uh,international investments, doing
business, traveling the world,having global citizenship.

(00:44):
So if that's something thatyou're interested in, make sure
to subscribe and hit thenotification bell so you don't
miss a single video that we havecoming out on this channel.
We are on the other side of ourmove.
To Lake Chip Paul, Mexico.
So you're gonna be seeing a lotof content from us, uh, moving
forward.
cause we now have a set where wecan do it very easily.
We've got a couple differentsets, actually.
We've got one.
Right outside as well with thelake view where we published a

(01:06):
couple videos.
All of that to say we're tryingto get daily videos out because
there's so much going on betweenthe us, between Mexico,
investments all over the world,visas, immigration, the world is
a hot mess right now and we'retrying to keep up to keep
everybody.
Uh, informed.
And speaking of Mexico and LakeChapala, if you are interested

(01:27):
in relocating to or investing inMexico or other parts of Latin
America, we can help.
So, entrepreneurexpat.com/consult if you are,
uh, interested in that.
Part of what we help with is taxstrategy, uh, which we're all
definitely gonna need because,uh, this bill passed.
So, um, you wanna do yourdisclaimer first before I, I ask

(01:50):
you all the questions about youropinions.
Absolutely.
So obviously this, this is amedia bias disclaimer, but I'll,
I'll give you my, myperspective, uh, and my just
context and view of thingsbefore we get into the specific
facts and opinions.
So, I did not vote for Kamala.
I mean, we did not vote forKamala.
We did not vote for Trumpeither.

(02:11):
We did not vote for anyonebecause it was a.
Choice of what is the lesser oftwo evils, and we're not even
going to tell you what ouropinion is on who the lesser of
two evils was.
You guys can fight about that inthe comments.
Um, but needless to say, we'renot really fans of the US
political system in general, orthe leaders there now or the

(02:31):
ones in the past, uh, especiallythe last few decades here.
And, um, I am very much.
Fiscally conservative.
I would say I'm socially moreliberal.
Uh, overall I'm very libertarianand I, I think the government
should just stay out of our damnbusiness and leave us all the
hell alone.

(02:52):
Uh, I'm, I'm kind of with DougCasey on this one.
Uh, and perhaps Malay as well.
And the Rob Pauls.
And Rod, the Paul.
Um, I don't think that thegovernment should be nearly as
big as it should.
So when we see somebody.
Um, this is a little bit ofopinion being interjected here,
but when we see somebody,whether it's Trump or whether
it's a Democrat or whoever elseit is, it really doesn't matter

(03:13):
guys.
They're, they're all basicallythe same thing with different
labels.
They're not working for you.
I.
They're not.
But when we see anybody, whoeverit is that's, that's president
or a leader of the government inany capacity, uh, who claims
that they're gonna come in andcut off spending and try to fix
the deficit and do all theseother things, but then they have
a, a, a spending bill that, thatinvolves trillions more dollars

(03:38):
of spending.
When, when it's from money, weliterally do not have, you have
to kind of raise an eyebrow andbe like.
Okay.
There's some weird stuff goingon here and this is not
congruent and things are notadding up.
So to be clear, so there'scontext, right?
From a philosophical standpoint,you're more of a libertarian, so
you're like, government needs tostay outta people's lives.
Uh, I know you're very big ongovernment needs to stay out of

(04:00):
other countries and otherpeople's lives.
Mm-hmm.
Which is a part of this bill anda lot of what we've seen, uh, in
the last month.
And you, you tend to be fiscallyconservative.
Right.
Okay.
All right, so we have context,so everybody understands where
this is coming from.
So let's go through what's inthis bill.
First of all, this bill's athousand pages.
We did not read the entirething.

(04:21):
I don't think anybody read the,we do not recommend that you
attempt to either.
I don't know if you even can.
Can you read it?
I don't know if anyone inCongress read the entire thing.
Oh, of course not.
No, you're kidding me.
They, they got better stuff todo than actually read the bills
they passed.
So there's a lot going on here.
There's a lot of differentpoints to cover.
Including the increase inspending, what they're spending
on, what they're cutting, how itaffects Americans living in the

(04:44):
United States, how it affectsAmericans abroad taxes.
I mean, it just runs the gap.
I'm gonna dive right into one ofthe things that I found
definitely the most interestingabout the bill, which is the
cuts of, I believe it wasMedicare.
It was, it was, uh, definitelyhealthcare programs.
It was health, food assistance.
Yeah.
But it was Medicarespecifically.
I think that was one of the lineitems.
And they also cut a lot of the,this funding for food stamps.

(05:06):
So.
There's, there's a coupleinteresting things here.
First of all, I think that in a,in big part, we're definitely
dealing with a, a pretty bignanny state and a state that
wants to.
You know, maybe overcompensateand overtake care of people and
then create a dependence on thestate to receive certain things
like, you know, whether it'sfood stamps, whether it's
government assistance and somany other things.

(05:28):
Uh, with that being said, thisframework already exists.
People are already getting foodstamps and you can't just
discern.
With, with a, you know, a swipeof a pen or whatever.
These people should be gettinggovernment assistance.
These people are just, let'ssay, lazy and they should not be
getting government assistance.
Now, I'm not saying thateverybody getting government
assistance is lazy, butcertainly to Trump's point, I.

(05:50):
There is a lot of bloat in thesystem.
And if you compare that tosomewhere like Mexico, where
when they even had conversationsabout some types of social
programs that the US has had fordecades, everybody's like up in
arms and saying, uh, you know,this is turning into like a
socialist country.
Which you could argue that insome ways it is, we're guests
here in this country, so we'renot gonna give you our political

(06:11):
opinion.
On Mexico or their, theirgovernment or their leadership.
Uh, but just to give you somecontext there for how, like the
other countries view certainthings that the US has already
had for a while.
So with that being said, yes,there's bloat, yes, there's
excess spending, but to justwith the flick of a pen,
basically defund social securityor, sorry, uh, defund food
stamps, and especiallyhealthcare.

(06:32):
Things like healthcare like,like, uh, like Medicare and
things like that.
Uh, that is very bad.
Uh, especially when on the flipside of the bill or, or even the
flip side of what we've justbeen doing the last 12 months,
is there, there have beenbillions and billions I think at
this point.
Hundreds of billions of dollarsin the last couple years, going
to Ukraine, going to Israel.

(06:53):
Uh, and I'm also context.
I'm Jewish myself.
I, I support the Jews.
I'm, I'm a big fan of the Jews.
I think there's a lot ofcraziness going on in the Middle
East.
On both sides.
But the point is, it's not theproblem of the US to the point
where they're, they should becutting funding and literally

(07:14):
having people hungry, peoplehaving, uh, people being
homeless on their own streets,but then sending billions of
dollars to Israel and now tensor hundreds of billions of
dollars to collectively toUkraine.
Not to mention all these otherwars in Europe and the Middle
East and all these other placesthat we've been funding.
For decades.
Oh, and they increased militaryspending.
Yeah.
And that, that's one thing youcan, you can mention some of

(07:35):
the, some of the specific factson that.
That's one of, yeah, that's one.
But it's wild where you're likecutting funding to go to your
own people and then spendingeven more and more on foreign
wars like that and everythingelse we're seeing right now,
guys, we've said this before andI'm gonna harp on this point a
little bit.
I'm, I'm gonna gonna give youguys a little bit more snark
here, but I told you so, andthese are all very much late

(07:57):
stage empire vibes.
Come back and watch this 10years from now and tell me I was
wrong.
I hope, I hope to God that I'mwrong, but it's not looking
great based on the patterns.
Yeah, so they actually, um,let's see.
They increased.
Spending on the military, uh, toyour point, which is the United

(08:19):
States keeps taking our taxpayerdollars to fund other people's
wars.
And you as a libertarian arelike, stay out of other people's
wars.
And the argument that a lot ofthese guys make, these
politicians is they're, they'regonna say, well, you know, we're
funding, you know, all, allthese jobs at Boeing and
Raytheon, like all these defensecontractors.
Um.
But I don't think that weaponsproduction is, is a, is a

(08:42):
positive thing.
Like you look at the moral good,what moral good is there in just
sustaining these industries toproduce weapons, to go and kill
people and sell arms and sellarms, like, yeah, that's not a
positive force for good in theworld.
And again, it's not our damnbusiness.
Why are we giving all this, the,this money to foreign wars that

(09:03):
don't really affect us?
Feel free to tell me I'm wrong.
You know, I'd love to hear yourarguments against that.
Uh, and yes, there is somethingto be said for having, you know,
political influence in differentcountries and whatever, but the
way the United States has beendoing it a little, yeah, it's,
it's through intimidation.
It's through.
Bringing other countries andentire regions down, uh,

(09:25):
financially, economically, um,all to, to keep that dollar as
the reserve currency at theexpense of their own at the exp
expense, at, at the expense ofall those countries and their
economies and their regions, andat the expense of the US
taxpayers, because guys, none ofthis money exists.
Oh, well, let's get to that,right?
Yeah, because the other thingthat, this, we'll talk about
some, some quantitative,quantitative easing as well, but

(09:45):
none of this, none of this shitexists anyway.
Right.
That's the, that's the realproblem.
Even if, even if it was a goodmoral idea, and even if it did
somehow further our agenda in apositive way, which I don't
believe it does, the moneydoesn't exist, guys.
It's, it's being pulled outtathin air.
We're mortgaging our future tocome up with this money to pay
for these wars while, whilewe're also cutting spending for

(10:06):
things that we need.
It makes no sense.
I'm, it, it's mind blowing.
So one of the things that'scausing a lot of Americans to
leave the United States is stufflike that.
So, for example, if you're anexpat and you're able to take
care, uh, take advantage of uh,foreign credits and things like
that, then you reduce what thetax that you're paying into the
United States, which by the way,if you're a US citizen, you're

(10:26):
getting taxed no matter whereyou are and how you make your
money.
Um, well, you might also begetting taxed, let's say by
Mexico or by another countrythat you're deciding to move to,
depending on how you're set upfinancially.
That's why little interludehere.
If you haven't already gotten atax professional in multiple
countries to take a look at yoursituation, or you do need help
with the residency to be able tohave some of those tax benefits,

(10:48):
let's say, when buying orselling real estate or when
trying to run a company inanother country.
You wanna make sure you go toentrepreneur expat.com/consult
because we can help you.
We've got white glove services.
We work with a team of expertsaround the world who are legal
experts.
Obviously this is all ouropinion.
We're not licensed experts orlicensed accountants or anything
of that nature.

(11:08):
We're waxing philosophical rightnow.
Exactly.
But, um, go to entrepreneurexpat.com/consult and we can get
you set up with those servicesto make sure you are in a tax
advantageous situation whereveryou live, in whatever country
you are a citizen or residentof, especially if you're tired
of your tax money going to allthese wars.
Um, okay.
Yes.
So speaking of the quantitativeeasing and hyperinflation and,

(11:32):
and all that stuff, so the billwhich did pass, uh, last night
at the time that they'rerecording this, it is set to
increase the US debt by$3.3trillion over the next 10 years,
and the US government currentlyowes its lenders$36.2 trillion.
Why is this a problem?
Why is it a problem?
Yeah.
Well, back to my earlier pointof none of this money actually

(11:58):
exists.
So when the US government, forexample, will get into a, like a
just small, uh, macroeconomicslesson here, but when the US
government quote unquote printsmoney, it's not actually
printing money anymore.
Uh, for the most part they'rejust adjusting the ledgers.
Right?
The, the Fed is giving credit.
Uh, essentially like puttingmoney into this, the system

(12:21):
where these commercial banks arejust having their ledgers
adjusted essentially, right?
So the commercial banks havemoney that was created, printed
right out of thin air.
It doesn't actually exist.
It's just a line item that'sbeing added to their balance
sheets, essentially.
It's not real money.
What happens when you do that?
What, what happens when you justincrease the supply of

(12:42):
something?
I mean, again, just basicmacroeconomic principles.
You increase the supply ofsomething, the demand goes
lower.
It's worse with currency becausewhen you increase the supply and
currency, not only does thedemand for it go lower on a, on
a global market, but people seeless and less value in it
because there's so much more ofit.
And now you start to realizethat it costs more and more to

(13:04):
buy goods, goods and services.
So it's a tax that isn't evenlabeled as a tax, but it's
affecting people far more thanjust the average taxes.
Because guess what?
Your sal, your salary is stayingthe same.
But because of thesemacroeconomic trends, when money
is, is fed into the system outof nowhere, right from the Fed,

(13:25):
money is fed into the system andall of those goods and services
that you're purchasing aregetting more and more expensive.
So if you're trying to get by,let's say in California, God
forbid, on a$60,000 a yearsalary, right?
Which is still higher than the,than the national average.
You were like maybe barelymaking it six months ago and
now.

(13:45):
You're having to figure out howto ration food to, to feed a
family a four.
Like you don't have enough foodto feed your family because the
money that you made from thatsalary, the salary hasn't gone
up with the cost of living.
Right.
They're supposed to, but theydon't.
Right.
And even if they, you know, likein California, this is, we'll go
on a little bit of a rant herebecause it ties into this, but
you look at a lot of theseliberal policies like in

(14:06):
California where they increasethe minimum wage substantially.
Okay, great.
Fast food is$21 an hour minimumwage right?
Now, guess what happens?
People that can be.
Replaced or automated orreplaced with AI or whatever it
is they need to do.
Those people lose their jobs.
So yes, the few that are stillthere working at that place that
maybe have a higher skillset dohave their jobs and they have a

(14:28):
higher wage.
But now you've got four otherpeople that are now unemployed
because you've doubled themminimum wage over a few years.
That's something actually that'sbeen brought up by some
financial experts as well that Iknew back from my finance days,
uh, which is the fact that.
I believe there is, hold on, Iwanna make sure I have the
number right.
4.5 trillion in tax cuts.
And then the idea with the taxcuts, um, is that the, the

(14:54):
corporations will then, youknow, be able to hire more
people.
But does that really make sensein the age of ai?
And Microsoft announced thismorning that they're laying off
more thousands of people.
So if you decide, yeah, it waslike 3,900 people, I think they
just laid off something likethat, right?
So if, if you're getting thesebig, beautiful tax cuts and
you're still laying off peoplebig, beautiful tax cuts, um,

(15:16):
then does that logic actuallywork?
Does it make sense in the 21stcentury when you have AI and you
can still get rid of people andthen just have.
Machines do a lot of the work orai?
No, I, I think, and I, Iwould've said something per
perhaps different, even justfive years ago.

(15:37):
'cause I definitely believed itmore in a lot of those like
Republican tax policies and taxcuts and things like that.
But the tax cuts that are in thebill mostly are for those big
corporations.
Right.
And those big corporations.
It's not for small business,that's for sure.
Those big corporations alreadyhave tax.
Advantageous strategies wherethey're moving money around
multiple countries and multiplejurisdictions, and they're able
to save that money anyway,number one.

(16:00):
Number two, it's not benefitingsmall businesses.
It's not benefiting your mom andpop shop.
It's just keeping more money inthat, that top, like 1% or 1% of
the, 1% of those, of those, uh,those corporate shareholders.
And, and really the way that itlooks like to me is, is crony
capitalism.
I would look at this not thatdifferent than what.

(16:20):
For generations has been goingon in Russia, right?
Where, where you're friends withthe administration and you, you
can get your business orwhatever you want through and
have all the money to do it andeverything else.
Um, I'm not gonna commentextensively about that because
we probably will visit Russia atsome point in the, in the near
di future.
Um, but I mean, I have, I haveroots in, in Eastern Europe, in

(16:43):
Ukraine and in Russia, and.
And, um, you know, we, weunderstand how that works.
You're, you're buddies with thegovernment, you, you get a bunch
of cash, you can do pretty muchwhatever you want.
How is this really anydifferent?
How are these tax cuts for thesecorporations?
And then to your point of ai.
Yeah, now it's getting to thepoint and I, I'm not gonna go on
and say that there should be auniversal basic income or

(17:04):
anything like that.
I think that's a slippery slope.
And I think that that's also.
Nanny state, and that's overgovernment regulation there.
But if you look at that as oneextreme right versus just, Hey,
let's give these thesebusinesses tax cuts, and we can
just use AI to replace half ofthe workforce.
Like how does that actuallybenefit anybody?

(17:24):
At the end of the day, there'sgotta be some sort of balance.
There's gotta be some sort ofhappy medium.
I'm not an economist.
I don't know what that balanceis.
All I can tell you is I'm pissedbecause this does not help
anybody other than the friendsof the people at the top.
Well, let's keep going with whatelse is in this bill.
There's a lot, and we're gonnaget to investors and expats, but
we kind of gotta lay thegroundwork of what's actually in

(17:46):
here and what people areconcerned about.
So it says the legislation isalso gonna raise the debt
ceiling by$5 trillion.
So is this just made up?
Are they just like, Hey, we owethis much money and now we're
gonna make it.
So it's kind of like.
I'm gonna make up what my creditlimit is.
Yeah.
Is what it sounds like.
That's exactly what it's,because you know, we, we've got
some F fifteens and B twos and abig military and we can kind of

(18:08):
say whatever we want and we'llowe people as much as we want.
'cause we've got the, the faithof the US dollar, which isn't
really worth that much anymore.
Uh, and a big military to beable to back it up, right?
So now if you look at debtceiling, just, just
conceptually, that's all it is.
Is it, it's, it's, let's saythat you had a thousand dollars
credit line right on your, onyour, on your credit card,
right?
You've got a Wells Fargo creditcard.

(18:30):
Uh, it's a thousand bucks.
So you, you go and you have areally fun night in, uh.
Miami, your hometown, right?
Mm-hmm.
You go to Miami, you party itup.
Um, you can't really get muchout in Miami for it.
Let's say it's$10,000, so youcould probably buy like a bottle
or two at a, like a lower tierclub for 10 grand.
Let's say your credit limit,it's, it's 10 grand.

(18:53):
Okay?
It partying it up, you got likea bottle and a half, maybe the
other one you split with yourbuddies, so you got a bottle and
a half plus tips for the, thegirls bringing the bottles in
with all the flares and shit,right?
So 10,000 bucks.
You spend it all in one nightout in, in Brickle.
Okay.
What do you do?
Well, most, most people in, inthe real world, they would look

(19:14):
at their credit card bill.
They'd realize, wow, I got waytoo hammered last night.
I should not have spent$10,000.
This is gonna take me a reallylong time to pay off.
I better lower my spending,right?
Pay this thing off, and thenmaybe not have so many rages.
Okay?
The government does not follownormal rules.
And what happens is when theyget their$10,000 credit card

(19:36):
bill from that rager,'cause theywanted to send a a bunch of
bunker busters to God knows whatcountry in the Middle East.
They're like, oh, you know, our,our, and except now it's
trillion.
You know?
Let's say our limit was 10trillion.
You know what?
We're just gonna add another 2trillion on top of it.
So bank, why don't you, and it'snot a bank necessarily in this
case, it's the creditors, theforeign creditors they have and

(19:57):
right.
Um, in other countries andthings like that, right?
Yeah.
We'll talk about foreigninvestors, creditors, all that
in a second.
But, but they, they just go andsay, okay, you know what?
We're gonna raise our debtceiling and instead of lowering
our spending, which is whatTrump promised to do, by the
way, we're just gonna go andraise the amount of money that
we can spend without having it.
What do you think of that?

(20:18):
It doesn't make any sense.
No.
How could it, because it'd bevery painful to cut back the
spending, and a lot of people inthe government would lose their
jobs.
And whenever you have those,those three letter institutions,
you know, the FFTC and FAA andCIA and FCI and FCCI and yeah,
the FCCI don't, I don't think Ican sing Slim Shady here, or

(20:40):
we'll get a copyright strike,but I digress.
Um, all, all those, all thosethree letter institutions are,
they're basically like, uh, Ithink, I think Doug, Doug Casey
said it.
What, what is it?
A self.
So, did you say self lickingenvelope will have to No.
A self licking ice cream cone.
Ah, that's what it, yeah.
They're a self licking ice creamcone.

(21:01):
Because these institutions arethere and they don't, they don't
want to lose their existencebecause now you know, you're,
you're friends with this personand that boss and who they wanna
stay alive.
If you guys want a, a spiritualtake on this, this is a little
tangent, but if you want aspiritual take on this, check
out what reality trans surfingtalks about with pendulums.

(21:21):
A pendulum is this, thisenergetic structure that wants
to basically keep going, checkout reality trans surfing, if
you want to dive really deep on,on macro, how all these, these
powers and forces work.
But that's essentially what itis.
They don't, they don't want to,they don't want to be ruled out
of existence, so they just keepgetting bigger and bigger and
bigger.

(21:41):
And something that may have beencreated to address one specific
type of thing, like this issuewith the environment or NATO is
a good example.
Okay, great.
You know, we've got the SovietUnion.
We have to ban forces totogether and make sure that the
Soviet Union can't, can't dosome dumb shit around the world
or whatever should have beenabolished in the nineties.
No, they were not.
They kept going.
They still exist.
Why?

(22:02):
Who knows?
And then now that's why we havethe Ukraine, Russia situation.
Mm-hmm.
Essentially is'cause NATO keptexpanding, expanding, expanding.
A lot of Americans, or at leasthalf of Americans don't know
that.
Uh, but unfortunately a lot ofAmericans don't know how their
policies are affecting everyoneelse in the world.
And I think expats start torealize how American policy not

(22:22):
just affects them no matterwhere they are in the world, but
also affects everybody else.
Geopolitics how the world ismoving.
Yeah.
And right now the world ismoving in a very chaotic way,
and just because you put alittle Ukraine flag or an
Israeli flag or whatever thehell the trend is at the moment
on your Facebook profile,doesn't mean you really know
what's going on in Ukraine.
I'm Ukrainian, and you would saywe have a long lineage of people

(22:44):
back to Ukraine and Russia.
And my family.
I've been to U I've spent monthsin Ukraine.
I also know how a lot about thepolitical systems there and
about what the US influence hasdone there.
So.
What the mainstream media tellsyou is going on.
You gotta follow the moneytrail, right?
You have to look at who'sactually funding those ideas

(23:04):
that are being put out there, orthis, this propaganda of, yeah,
I'm with Israel, I'm withUkraine, I'm with guys like,
like the, the sim, the.
Just because somebody's, youknow, parroting something over
and over again doesn't mean thatyou blatantly need to fall in
line like sheep and say, thisperson is saying this so that it
must be true.
Do your own research.
Look at the money trail.

(23:24):
Understand the pedaling andcorruption and political
influence that's going on.
It's, it's not exactly as simpleas it seems, but most of it is
either about power or money.
And power is definitely themost.
Dangerous of the two becausepeople get to a certain amount
of money and like you're good,but power, you can never have
enough power.

(23:45):
Right.
That's what I'll say on that.
So let's talk a little bit aboutwhat investors are saying,
because you brought up some goodpoints.
Right.
We recently did a video with,uh, one of the attorneys that we
work with.
So again, if you need help,either relocating to or
investing in Mexico or someother parts of Latin America,
entrepreneur expat.com/consult.
But we did an interview withMonica, uh, who is one of the
attorneys that we work withbecause Reuters recently came

(24:07):
out and said that, uh, globalinvestors are looking at Latin
America.
Uh, particularly Mexico, Brazil,and Argentina.
Mm-hmm.
Uh, as viable options for likesolid, steady growth
investments.
Maybe it's not like massiverapid growth, but it's steady
growth, uh, over time.
Argentina, they probably thinkthey can get some deals, uh, in

(24:27):
Argentina because um, they'renot involved.
Argentina's getting a lot moreexpensive.
It's getting a lot moreexpensive Last years.
Yeah, because.
Um, Malay is doing his thingover there.
Mm-hmm.
But, um, AFU first libertarianpresident to ever be elected,
ever in history.
Can we say Carra on YouTube?

(24:48):
I, I guess so.
Um, so.
To your point, right.
A lot of, uh, internationalinvestors are now eyeing Latin
America because Latin America isnot involved in all these global
conflicts.
Um, you know, you'll have thingslike us and Mexico have their
Brocas, they have their stuff,but like.
Mexico and Argentina and Brazil,and these countries are not out

(25:13):
funding Ukraine or they're notinvolved in the Israel Iran
thing.
Right.
Or you know, so a lot ofinvestors are now seeing what's
going on in terms of the warsand they're like, Hey, Latin
America might be a good option.
Would it be fair to say that alot of investors, global
investors, are also looking atthe amount of spending that not
just the United States, but alsoEurope.
Uh, has been doing and they'relike, whoa, wait a second.

(25:35):
You guys need to learn how tofreaking balance a budget.
Mm-hmm.
Uh, because now this iseventually going to be
unsustainable.
What are your thoughts on that?
Yeah, absolutely.
And you, you had some, uh, somestats there on what Mexico was
doing as well.
Yeah.
We'll get to it in a second.
They're spending, and we'regonna do another video
specifically about that.
Yeah.
So Mexico, just to give context,right.
And this just came out.
Uh, the same day that the bigbeautiful bill passed in the

(25:57):
United States, Mexico, and thisis from Mexico News Daily, which
is a very well known websitehere in Mexico that covers
everything that's going on here.
But while we have the, you know,big beautiful spending bill,
literally the same day Mexicoannounced that it's slashed its
budget deficit by about 8.5billion US dollars.
I bet that wasn't a coincidencetoo, that they just announced
this.
I don't know.
I bet that was strategic.

(26:18):
I'm not sure.
How much was it?
8.5 billion U-S-D-U-S-D.
They slashed their budget.
That's actually taking action.
Yeah.
And doing something, not justpretending what, what the US is
doing is a peacock, uh, puttingit no.
An ostrich putting its head inthe ground and, and just
pretending like the problemdoesn't exist.

(26:39):
Right.
And that you can't see it'causeit's head is in the ground and
then the US Yeah.
But, but what Mexico is doing inother countries like Argentina
are doing right now, Argentina,aina.
Yeah.
That are going more towardsthat.
Uh, especially Argentina, goingmore towards that libertarian
side and trying to reducegovernment spending instead of
increasing it to keep themselvesalive, is that they actually are

(27:00):
taking action, reducingspending.
That's how you fix your budget.
If you've got that, that$10,000credit card charge on your, on
your Wells Fargo card from, fromyour rager, you don't just go
and keep asking them for, uh, anextended limit or raising it
yourself.
Because you're the governmentand you have a God complex and
you think that you can spend asmuch as you freaking want, you

(27:21):
actually cut the spending.
We gotta call this video likeJustin an unhinged.
It is pretty This, this is thenew series name, but Oh, I'm so
mad.
Like, I'm so mad guys.
This is just, we're not eventhere.
It just makes my blood boilbecause this is my country.
You know what I mean?
It makes me upset, likegenuinely upset that this shit's
happening.
So to your point, Mexico'sbalancing their budget Mexico's

(27:44):
kind of weird because it haslike a leftist government that a
lot of people are concernedabout, but then it's doing, it's
balancing its budget, which is avery non leftist.
Thing me, Mexico's weird.
It's complicated.
It's not very black and whiteand straightforward, um, in a
lot of ways.
And then you have Argentina thatearlier this year, Malay
famously, you know, Argentinahad a budget surplus for the

(28:05):
first time in like decades.
Yep.
Yep.
Because they'd gone so far overthe edge of government spending.
Um, and the nanny state.
What are some of theconsequences of, you know, an
over bloated government at ananny state?
I know we were talking toanother team member, Heather,
um, who is one of our relocationconcierges, and she lives
outside of the United States.
We helped her do that, uh, withthis YouTube channel and, and

(28:25):
some stuff that, that we helpedher with.
And she was saying, you know,when you live outside of the
United States, you start torealize like how infantalized
American citizens are by theirgovernment.
Yeah, there's this whole idea,so, we'll, we'll talk about like
some of these agencies and whatthey're doing and the overreach.
So first of all, yes, you doneed some consumer protections.

(28:46):
Uh, Mexico even has a decentamount of consumer protections.
You have proco.
I, I I would say that Mexicomight even be slightly
under-regulated.
I mean, there are definitelythings they can improve.
'cause there's a, there'sdefinitely a lot of scams here
in real estate.
Uh, it's, it's a little bitmore.
I, I would say wild, wild west,not to the extent that people
see in movies or that theaverage American maybe thinks or

(29:07):
what the news says.
Mm-hmm.
But there, there might be aslight lack of regulation here
now for where Mexico is at andit's, it's growth and its cycle
as a country.
I think that that probably makessense.
And eventually they are, infact, they are adding some more
regulation around real estate,around a lot of other things,
which I think to an extent isgood.
So you need some regulation toprotect consumers, to, to

(29:29):
protect, uh, to cover your asslegally.
And Mexico has some of thosethings, but again, it's, it's
not quite there.
I'd say maybe it's at like 70 or80%.
The US on the other hand, isjust so overblown with
everything.
Here's an example I had, andI'll even speak from personal
experience.
Uh, my dad was a, was a mortgagebroker for many, many years, and

(29:51):
he was about to land.
One deal that would've, I mean,definitely we, we were not in
the best situation economically,right?
With after the, the crash of2008 and all that, he was about
to land a massive deal.
Uh, that was like a, like a$10million loan or something of
that nature, right.
For this like massivedevelopment.
I think it was a, in northernCalifornia somewhere.
And they, they halted the entirething because of one butterfly.

(30:15):
That they found flat flapping.
It swings at, I now I'm makingthis up.
Um, one butterfly halted theentire project.
We probably, I think, I think wewould've as a, you know, as a
family, like my dad's companyprobably would've made like a
hundred thousand dollars or moreon the loan.
I mean, it was, it was massive.
Or maybe even, maybe even morethan that.
It was, it was a very big dealand there were a lot of other
offshoots and things that couldhave happened, uh, after, so

(30:36):
that halted.
Tens of millions of dollars of,of investment and potentially
hundreds and hundreds ofmillions of dollars of economic
opportunity and growth in thatregion.
That was a, like anundercapitalized region as well,
because of one butterfly.
Yeah.
I, I would also look atsomething like.
EVs, right?
All these electric vehicles thatthey're producing, by the way,

(30:58):
at a cost to every singleAmerican taxpayer, because every
single one of these electriccars that you're getting a
10,000 or$15,000 discount on,that's subsidized by the
government.
Guess where that comes from?
Like male says El Elita, thestate does not produce.
The state.
Only takes, right?
So where does that money comefrom to subsidize things that,

(31:19):
that perhaps move forward, sometype of environmental policy.
That people on paper think is areally good idea.
And it makes you have the, thesenice like ooey gooey feelings
and whatever, like you're savingthis butterfly or you're making
the air better or what.
And in some cases you are, insome cases there, at the end of
the day, there ends up beingabsolutely zero net positive
benefit to certain things that,and that's just environmental.

(31:41):
Uh, then you look at regulationfor things like, I'll, I'll use,
uh, communications as an examplewithout, without naming names,
but there's a lot of regulationsironically, right.
America is all about freedom andliberty and everything else.
There's way more freedom here inMexico than there is in the US
in every way possible.
Yeah.
We'll have to do another videoon that case.
That's gonna be a, that's gonnabe another video.

(32:03):
Yeah.
But there's so much restrictionon what you can say, what you
can do.
I'll use an extreme example fromthe UK and I, I, I'm afraid that
the US is, is heading a littlebit in this direction, but in
the UK you can be arrested andcharged.
Get this, if you post somethingon social media.
That makes somebody feeloffended.

(32:25):
That's a real law.
Yeah.
In the uk Well, in Canada, wesaw people getting their bank
accounts shut down because theyOh yeah.
Because they disagreedpolitically.
Because they disagreedpolitically.
So, and we don't know, and Idon't know if this will happen
with Trump.
I don't know if this will happenwith the Democrat.
There's, there's extremes onboth sides, but even Trump as an
example, and I don't, I'm notanti-Trump.
I'm not anti really anybody.

(32:46):
I'm, I'm pro free.
Speech for everybody and, andless regulation.
Right.
You're pro of the governmentstaying outta your life, right?
Yeah.
But just because people aretalking about this, like you
look at what Trump's doing.
Okay.
Elon said something you don'tlike, you threatened to deport
him and take away the contractsand take away all your
government contracts.
First of all, I don't know if apresident can legally do that,

(33:09):
single handedly on either ofthose counts.
I'm sure he has influence and hecould, he could affect that if
he, if he wanted to, if therewere grounds to do it.
But like, come on.
What kind of example are yousetting by saying, you know, or
how he reached out to CandaceOwens because he didn't like
what Candace Owens was sayingabout Israel or about the French
president, president's wife or,or, or whatever.

(33:29):
I don't care.
I don't care if who your wife isor what she does, or what her
past was, or what her, hersexual orientation is.
I don't give a shit like, but,but to use your political
influence as a leader.
To go and basically threatendeportation or jail to people
that disagree with you.
I mean, I'm sorry guys, butthat's the exact same thing that

(33:50):
Trump was fighting against himbecause I do believe that they
o, that that Democratsoverreached their bounds in
trying to prosecute Trump forall of those different crimes
that if he was anybody otherthan Trump and their competitor,
none of that stuff would've beenprosecuted at all.
So it makes no sense.
It shouldn't have happened toTrump.
I mean he just got off and hedid way worse stuff than Trump's
ever done.
Absolutely.

(34:11):
But it shouldn't have happenedto Trump.
And Trump shouldn't be doingexactly the same thing.
I mean it's weird.
It's like the, a lot of thetime, you know, the victims of
of trauma or the victims of acertain thing are gonna go and
like perpetuate that thing.
So it's almost what's happeningto an extent.
So what would you say toAmerican people and investors?
We're still talking in theUnited States.
We're gonna get to expats in asecond.
Right.
And'cause there's definitelystuff that affects expats as

(34:34):
well.
Um, you know, what would you sayto them?
Because to me, what it's lookinglike is like, okay, and, you
know, we didn't vote for eitherof these people.
We think we're looking at a latestage empire here,
unfortunately.
And we're also into globaldiversification and an
international lifestyle so that,you know, we're not affected as
much by what any one or twocountries are gonna do.

(34:54):
I mean, last night we weretalking about, you know, what
might be the next place that wego to?
Maybe we spend six months here,six months over there so that
we're not.
Uh, under the thumb, you know,of one or two governments
because governments are alwaysgonna be politicking no matter
what.
Yeah.
I mean, that's just what theydo.
We're not here, by the way guys,we're not here saying, Hey,
we're in Mexico now.
We can help you relocate toMexico and you should come here

(35:17):
no matter what, because Mexico'slike the perfect country, the
perfect government.
We're not saying that at all.
In fact, there's a lot of thingswrong with Mexico.
Just like there's a lot ofthings wrong with any country in
the world to Amanda's point.
But you want to be able todiversify.
You want to have a plan B.
You want to have a residency andanother passport if you can.
You want to have bank accountsdiversified across different

(35:38):
countries, across differentjurisdictions, because guess
what?
You post one thing wrong on theinternet and you get in the, the
political crosshairs of somepolitician who wants to wipe you
off the, the, the internet andnot have you do business, they,
they can shut you downcompletely overnight.
Now your family's not eating orlike it's bad.
Or what we saw earlier this weekthat the United States
government has a bone to pickwith the Mexican government

(36:00):
sanctioned like three or fourMexican banks, and now you have
a lot of foreigners who can'ttransfer money who got caught in
the crossfires.
Yep.
And they did nothing wrong.
And they did nothing wrong.
They just got in the crossfireof the drama.
Um, so, you know, we're bigproponents of, you know,
diversifying yourself as much asyou can so you don't get caught
in the crossfires.
'cause there's always gonna bedrama, uh, unfortunately at the
end of the day.
But would you basically saylike, to those who voted for

(36:22):
Trump,'cause this is what wewere afraid of, uh, when it came
to Trump and ultimately we werelike, yeah, we're, we are gonna
check outta this one.
Um, was that, you know.
You know, it's not like Trump'snot known to like say one thing
and do another.
Right.
And it looks like that's what'sgoing on.
Yeah.
And I think most of it ispolitical rhetoric.
Yeah.
But I don't actually disagreenecessarily with all of the

(36:46):
economic things that Trump hasdone.
I think he's done some positivethings.
I think he's done some not sopositive things.
So if, if you take away thepolicy aside, because I think
he's got some good policies.
I think many presidents in thelast decade have had several
good policies, Republican andDemocrat you give credit words
to, right?
Sure, absolutely.
But if you take the policiesaside and you look at the, the

(37:06):
person as, as a figurehead, as aleader, right?
That actually matters.
What he says matters because itaffects people.
It affects what, what peoplearound the world think about
him.
It affects what his own peoplethink about him.
It affects what.
Uh, even perhaps leaders ofcompanies think about him, what
investors think about the usYeah.

(37:27):
Right.
What, what other internationalleaders would wanna do business
with us or not wanna do businesswith us because of how he's
representing the country.
And it also sets, so wheneveryou say anything, let, let's,
I'll, I'll take January, uh,January 6th as an example.
And I think there's a lot of,there's a lot of very, very.

(37:48):
Raw things that happened therethat affected the people who
were involved with that.
And I don't think that a lot ofthat, that, that prosecution was
just, but just, just taking itas a, as a concept right now
when we talk about rhetoric andwhen we talk about, um, you
know, taking people to action,right?
That could have also gotten wayworse too.

(38:08):
I think that like the damagethere, for example, was
relatively minimal compared to,like, you look at the riots, uh,
like a lot of the riots thathave happened across the
country.
But when a political leader goesand says things to incite either
violence or movement or actionor, or breaking and entering or
whatever it is that they weredoing, right, you have to be
responsible for what you'resaying now.
I'm not, I'm not pointing thefinger just at Trump.

(38:30):
You look at a lot of the, theDemocrats in Congress who have
literally take said things like,take to the streets and go and
cause damage.
They've said things like that,uh, that's significantly worse.
So speaking of that, butrhetoric matters.
Yeah.
I was watching an interview, uh,and this is related to the bill
and also the chaos that's beenhappening in the United States
recently.
'cause what you're talking aboutis chaos, right?

(38:50):
You have, you know, theprotests, the riots January 6th,
I mean, it's been chaos for thelast five years.
Basically of civil unrest in theUnited States even.
Well, what I'm talking about ischaos and, and, and setting an
example.
Yeah.
Because just like the averageperson, and I, I can I, I would
include myself in this group.
Uh, the average, let's say malehas not had necessarily a very
good father example in theirlives to be able to, to be able

(39:15):
to structure themselves aroundright.
And that, that leads to thatchaos.
But it's, it's the leadership,just like that happens in a, in
a micro level.
In a macro level, if you don'thave a strong leader.
We're getting a little bit offtopic here, but if you don't
have a strong leader to actuallyhold a nation together and say
things that move them towardsunity and not towards chaos and

(39:36):
violence.
Yeah.
Right.
That's a problem.
And again, it happened withBiden too.
It happened on both sides.
I would argue that in some waysit happened with Biden.
Maybe even worse, especially induring his term, when Trump lost
that election and when insteadof bringing the people together
like Biden could have done, hesplit them apart more.
Well, that's something, right?
Both of them did that.

(39:56):
That's a huge problem in theUnited States right now is
political polarization.
That is something a lot ofexpats say that they are over
and done with, uh, in terms ofwhy they want to be.
Families have broken up over,over, you know, you believe in,
in the, you're a Democrat, I'm aRepublican.
Like it's literally, it's, it'sworse than.
I think at at scale then a lotof what happened in during the
Civil War.

(40:17):
Yeah.
When you were taking sides, whenliterally.
Families were like, or likebeing split up because one, one
person believes in a certainpolitical ideology and the other
person believes in a different,it's wild, and it's all caused
by the state and the media.
So Ron Paul, we were watching aninterview with Ron Paul because
he's a libertarian.
He is not for this big beautifulbill.
He had kind of a stark warning.

(40:38):
He said, look, on the one hand,I'm feeling very optimistic.
'cause I think Americans arewaking up to like, this is all a
farce.
Yeah.
The optimism wasn't about thebill at all.
Right.
This is a farce.
Right.
The bill is a farce.
The fact that the governmentworks for you is a farce.
Like it's all a farce.
Yeah.
And Americans are waking up tothat.
But he did also have a warningthat he thinks there's gonna be
more chaos.
Oh, absolutely.

(40:59):
There has to be.
Um, worst case scenario.
This is a death by a thousandpaper cuts thing where this, the
debt ceiling just keeps going upand we keep spending more and
more and then we f we're feelinglike little pains over time with
a catastrophic boom of like, ohshit.
Now we're actually out of money.

(41:19):
And perhaps, I don't know ifwe're gonna get invaded by
another country'cause we owethem so much money or I don't
know.
Or if it implode.
Yeah, it implodes and thecountry splits up into different
pieces.
Yeah.
That's like worst case scenario.
Best case scenario is like youjust kind of rip the bandaid off
now and you say, you know what?
Like, like, uh, uh, I, I believeit was, yeah, it was Ron Paul
that was talking about this,like, you can, you can, uh, rip

(41:39):
that bandaid off now and thencut the spending.
Don't raise the debt ceiling andjust let some of these
organizations that don't need toexist anymore fold and cut some
of the spending on unnecessarythings.
Mm-hmm.
Right.
Then yes, people will suffer inthe short term, but long term
it's gonna start to make thingsbetter eventually over decades.
This is not an easy fix, guys.
No.
This is not an easy fix becauseit's the, you know, lips putting

(42:00):
lipstick on a pig.
Yeah, right.
It's still, it's still a pig.
We just keep putting more andmore lipstick on and pretending
like everything is just fine anddandy, and then we indulge
ourselves in these foreign warsbecause it makes the country
feel powerful.
And maybe there's a little bitof bravado in there to say, oh,
you know, look, we're, we'rethis huge empire, but we're not
a fraction of the empire that wewere before.
Yeah.

(42:21):
Yeah.
And if you look at, uh, whyEmpire Spell in the past, like
big empires, Roman Empire,British Empire, the United
States is unfortunately giving alot of late stage empire, uh,
vibes and signs.
Uh, right now.
So let's get to how this billaffects expats specifically
because there seems to be, um,some confusion, uh, because part

(42:42):
of what the bill proposed wasthat there was going to be a
3.5% remittance tax.
So I suppose the idea there isthat.
Uh, it's non-commercialtransfers of money from, let's
say someone in the United Statesto a family member in another
country.
The idea is that it's gonna curbillegal immigration.
I don't exactly know how thatcurbs illegal immigration, um,

(43:04):
but the, it seems like expatsare kind of caught in the
crossfire.
So again, it's that being caughtin the crossfire thing.
It always happens whenever thegovernment, that we creates more
and more policies.
Yeah, it, it affects the peoplethat they're trying to affect,
but then by a much wider margin,it affects everybody else as
well.
Yeah.
And that's a problem.
So basically what it says hereis there's a little bit of
confusion as to whether or notexpats are gonna have to pay

(43:27):
that tax.
Because, for example, if we'resending ourselves money from an
American bank account and thenwe're sending it to the Mexican
bank account to pay bills here,that's not a remittance.
'cause you just sent money toyourself.
So first of all, I'll, I'll saythis for our viewers.
Guys, if you're worried aboutthree and a half percent tax on
the money that you send toyourself in another country,

(43:49):
first of all, the on on, on oneside of that, it's a very small
price to pay when you'reprobably paying 75% or 50% less
in living expenses every monthfor your rent and your groceries
and everything else.
On the other side of thatthough.
When you compare that three anda half percent to just look at
the change in the peso in thelast six months where it's gone
down from like 21 almost to now,it's at about 18.

(44:12):
It might even go down to 1615.
Who knows right before it,before it stabilizes again.
Uh, that's 20, 30, 40% of adifference.
Yeah, right up and down overover years.
So 3.5% is not that much.
First and foremost, if you'renot setting up structures like a
corporation in the US andforeign hundred income

(44:32):
exclusion.
Obviously we're not taxaccountants here, but these are
things we do work with them.
We do work with them, so you,you wanna make sure you schedule
thatconsult@entrepreneurexpat.com
slash consult because thosethings could save you 5, 10, 15,
20% in your taxes betweendifferent countries.
So start with those big thingsand don't worry about those,
these little things that may ormay not even affect you.

(44:54):
Now in terms of if it'll affectexpats, technically it shouldn't
because if you send money toyourself through Wise or World
Remit or Remitly or one of thoseservices, it's not really a
remittance because you'resending it to yourself.
But again, how are they gonna acrossfire caught in the
crossfires, how are they gonnadifferentiate if you're sending
it to a family member or you'resending it to yourself?
Uh, if you know you're, you'vegot a different bank account in
a foreign country than the one.

(45:15):
That you're sending it from, whoreally knows.
But what we do know is just likethe FBAR reporting requirements
and the FCA reportingrequirements and those things
causing foreign, which by theway, Obama instituted those, A
lot of people that Exactly.
That wasn't even Trump, Obamainstituted those.
Yeah.
Those reporting requirements,just like those, it's gonna be
another burden of, uh, paperworkon expats living overseas.

(45:37):
Yeah, maybe partly'cause thegovernment is trying to
discourage that.
They want you to come back tothe US.
Yeah, no thanks.
I'm good.
Yeah, so to your point, right,they were saying that, you know,
this is meant to targetimmigrants sending money back
home.
It's somehow supposed to stopillegal immigration.
I'm not sure.
What the logic is behind that,on how that's going to stop it.
But perhaps if you are, um, anAmerican and you work for an

(46:01):
American company overseas, andit's going to affect you as
well.
There, there's, there's like alot of gray area in terms of
what it affects.
Then you see this other part ofit, and that's what happens when
a bill is a thousand pages longand no one knows what's in it.
It's, it goes back to thosedefinitions of like, what are we
actually doing here?
Uh, because now they're saying,okay, well you just have to
prove that you're a US citizenand then use this transferring
thing and then it's not gonnaaffect you.

(46:22):
Or maybe it will affect you, butthen you're gonna get it as a
tax refund if you are a UScitizen and you filed your
return and you, um, so then it'sa way for you to, the government
to basically strong arm you intofollowing their, their tax
compliance requirements.
Which you should do anyway,obviously, but it's another,

(46:42):
it's another thing that thegovernment is doing to try to
manage you, even though you havenothing to do with the US
anymore.
It blows my mind.
I mean, it does.
Yeah.
So again, caught the where I'm,where I'm like, do we really
wanna keep our US citizenship?
Ah.
So what would your response be?
Obviously we don't have answersto this yet.
This bill just passed.
We do not know exactly how it'sgoing to affect expats.

(47:04):
There seems to be a lot of grayarea and confusion around this
in terms of what's going tohappen.
Also, is it going to affectexpats with their own
businesses?
'cause it says it might affectexpats.
Who are, who, for example, havebeen sent to another country by
an American company and you havea job and you're a foreign
worker, so on and so forth.
Yep.
But if you have your ownbusiness, does it affect you?
We don't know.
We have no freaking idea.

(47:25):
Yeah.
Uh, and that's why we gotta workwith accountants and things like
that and do tax planning.
But what would be your advice?
Because you saw this thing comeout yesterday and you were
already like, okay, time tostart diversifying even more
like we did step one, which isMexico.
You know, time to us for us toreally start figuring out this
whole diversification play andhow we're gonna do it and what

(47:45):
it's gonna look like for us.
Absolutely.
So ideally you want to not justhave another residency in
another country, but alsopotentially a second passport.
That's what we're workingtowards in the next two to three
years.
We should both have.
Our Mexican passports based onthe Traje trajectory that we're
in.
I would not, let's say, give upa US passport in exchange for a
Mexican passport, but perhaps ifI had two or three other

(48:05):
passports besides the Mexicanone, maybe that's a
consideration or that's apossibility.
Or depending on what your incomecurrently is, what sort of
assets you have.
If you're in crypto, if you'reworking with certain
technologies that the governmentdoes not like you using
overseas, whatever, that wouldbe even a consideration to say,
well, maybe if I have thispassport portfolio, I don't
necessarily need to keep the USone.
Right.

(48:25):
Yeah.
So there, there are certainthings like that, that the more
regulations the government putson people, the more requirements
they put on people, even eitherstaying in the US or in more
extreme circumstances, evensomebody that's not in the US
anymore, but that still happens.
To have a US passport might say,you know what?
Screw it.
Like I'm done.
And a lot of, a lot of peoplethat we know, like nomad,

(48:46):
capitalist, uh, a lot of otherpeople have renounced.
Um, actually, uh, Eduardo, Ithink it was Eduardo Srin,
right?
The second employee or thirdemployee at Facebook, he
renounces US citizen, uh,citizenship.
Those are some famous cases.
Um, there are actually a lot of,a lot of people, and I know that
there's a lot of, a lot ofpeople living that, that are
like even celebrities livingoverseas now.

(49:07):
Um, Britney Spears, I think justmoved to Mexico.
Moved to Mexico recently toMexico.
Um.
So with more and more of theseregulations, it becomes harder
to do business, harder to manageyour personal finances.
Uh, you you just want to say,you know what, I, I'm done.
Like, what am I getting for allthe taxes that I paid to the US

(49:27):
government?
What am I actually getting forall of these reporting
requirements?
I mean, even for us, likecollectively, it's literally
thou, it's probably two or$3,000a year that we pay in accounting
and bookkeeping fees, if notmore.
We're, we have like really gooddeals with people'cause we work
with them.
We bring them business like it'sthousands.
The average, uh, business ownerthat, that's, you know, maybe a

(49:48):
sole, uh, owner, corporateowner, that, that is, uh,
especially if they're livingoverseas.
They have a business in the us,they're making money from
clients in the US or around theworld.
They might be spending three to$5,000 or up to 10, maybe even
$15,000 a year.
For a small business for like acouple hundred thousand dollars
a year business just to meet thereporting requirements of the US

(50:10):
government.
Yeah, it's ludicrous.
Yeah, it makes no sense.
So I guess final question wasn'twhat's the lesson here?
Because wasn't Trump supposed tobe like the pro business guy?
Isn't this being, uh, flanked asa pro business bill because of
all the tech?
Well, if your Walmart or yourMicrosoft, or if you're Nike
maybe, or your Tesla, dependingon the day, right?

(50:31):
So what's the lesson that, thatwe can learn from this?
You think the lesson is stoplooking to your political
leaders.
Like they're like, they're thenext coming of Jesus, right.
I mean, literally like, I don't,it's the same with Trump or with
Obama or with Kamala.
Guys.
Don't believe the shit they tellyou on tv.

(50:53):
They're not in in it for you.
And that's in any country.
Yeah.
Yeah.
Yeah.
If, even if, let's say thatyou're, you know, you're,
you're, you're poor and youelect a populist president,
perhaps, arguably that would bewho we have here in Mexico now,
right?
Well, that's, Trump is apopulist.
Trump is a yes.

(51:13):
Well, okay, but let, let me, letme, let me use an extremely
example populist.
Let's look at the President, forexample, of Columbia now.
Yeah, right.
Uh uh, at Petro Petro, he waselected because.
People were, were, you know,basically like rising up and
saying, oh, we, we want all themoney from the rich people.
It should all come to us withouthaving to do any work.
So when you're poor and whenyou're lazy, you want somebody

(51:35):
who's gonna give you somethingfor nothing.
And guess what?
A lot of those people are, aregetting their wishes fulfilled
temporarily.
But then what happens?
Soviet Russia, Cuba, Venezuela.
Yeah.
North Korea.
Yeah.
That's not quite in the samerange, but very similar.

(51:55):
Right.
What happens is they give you alittle taste of what you want or
you don't get it all.
Like with Trump, I don't, Idon't know if anything pro
business has really happened.
It's just been a lot ofrhetoric, unfortunately.
Yeah.
Which frustrates me.
Um, but even if you do get likea little, a little sample of
what you thought that you wantedand this, this is where maybe

(52:17):
we'll end.
Democracy is not perfect.
No, democracy is far fromperfect and in the US we don't
have a democracy.
We have a a, an electiverepublic, right, a democratic
republic where we're electingleaders.
The problem is.

(52:39):
The, the people that you cancontrol very easily make up the,
the, the majority of people.
Mm-hmm.
Right.
So what happens is they can beinfluenced very easily with
money.
Yeah.
Or in the case of Trump, becauseif you look at the numbers, I
mean, Kamala spent way more thanTrump and her campaigns and all
the, the right, all the, all thecelebrities she paid and all

(52:59):
this other stuff.
Or you have this like sort ofpendulum swing so far in one
direction.
That people are so sick of likethe force feeding of lies and
control and overregulation and,and political correctness that
it swings so far in the otherdirection where you elect
someone like on the right sideof, of populism, right?

(53:20):
Mm-hmm.
The right, like right sideversus left on, on the spectrum.
And now you have somebody whosupposedly is going to, to work
and help those people.
So what happens is when, whensomebody does come into power
like that, like in that, even inthat far right of the spectrum,
popula side of things andpromises all of these different

(53:40):
things to the masses.
It doesn't actually mean thatthey're gonna go and do those
things.
Right, right.
Because Trump, it's because ofthe environment.
Right.
That was there in the countrythat allowed somebody like Trump
to get elected.
Yeah.
And that's the real issue.
The issue is not Trump.
Trump is gonna do whatever Trumpdoes, however he does it.
We have no control or power overthat.
But the issue isn't Trump, it'sthe political climate that

(54:03):
created that vacuum.
For somebody like that to stepinto power.
Right.
Right.
And then Trump was voted in as apopulist, but it seems like he's
just doing the will of theestablishment, right.
Based on what's what happens.
Yeah.
That's what happens in a, in ademocratic republic.
Yeah.
It's not really a democraticcountry.
And if it were, by the way, allthe decisions would be be made

(54:24):
by actual populists.
And then unfortunately, likethere's, there's something to be
said about capitalism and, andwealth and people that can
actually produce getting money.
Otherwise, what happens is youturn into basically a communist.
State.
Yeah.
Because there's a power vacuum.
Yeah.
And somebody without wealth orpower also does not know how to

(54:44):
create wealth or power.
So somebody worse comes andswoops in and takes the power
and then tries to pretend togive everybody what they want.
And it doesn't actually happen.
And there's no like goodscenario.
And capitalism isn't perfect, ademocracy is not perfect.
But what's really going on rightnow is that the US has gotten
way too comfortable being thenumber one kid on the block.

(55:09):
Bossing other countries aroundan empire building and spending
money they don't have, andthey've gotta do some shit to
turn this ship around andthey've gotta do it soon because
it's only getting worse nomatter who's in office.
It sounds like what people needto start learning how to do is

(55:30):
to become more of what's calleda sovereign individual.
Yeah.
And that's what we help peopledo.
Yeah.
If you wanna figure out how todiversify, how to have multiple
passports, how to think like wedo, and and not be at the mercy
of one government and have to goand bitch on social media
because this leader who youvoted for or didn't vote for is
doing something that you don'tlike, make sure you go and

(55:52):
schedule a consultation with usor our
team@entrepreneurexpat.com slashconsult because we can help you
do exactly that.
All right.
Well, thank you for sharing yourunhinged thoughts.
I think I'm gonna put, uh, youknow, big, beautiful Bill
unhinged thoughts as the title.
I like it.
It was definitely veryinsightful.
I know a lot of you have beenasking us for content about
what's been going on with thebill and what's been going on

(56:13):
with, you know, almost gettinginto World War III and our
expats going to be taxed, so wehope that this.
Answered a lot of thosequestions and possibly gave you
something to think about.
So thank you so much for beinghere.
Like, and subscribe, share itout and we'll catch you on the
next one.
And let us know in the commentswhat you thought about this
video and what your opinion ison these different topics.
We'd love to hear from you andengage with you.

(56:35):
And, uh, as always, like andsubscribe and don't forget to
book your consult if you'reserious about moving abroad and
diversifying.
Bye for now.

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