August 16, 2024 • 19 mins
Is it possible to rein in corporate greed and inflation without causing more harm than good? Join us for a thought-provoking discussion as we scrutinize Kamala Harris's economic plan and its ambitious measures to control corporate pricing, particularly in the grocery sector. We challenge the feasibility of proving price gouging and consider the broader implications of Harris's proposed tax credits and healthcare initiatives. By drawing parallels with the economic landscape during Jimmy Carter's administration, we highlight the potential pitfalls of government intervention and question the practicality of these initiatives.
We'll also take a closer look at the recent inflationary pressures, including the impact of the Russia-Ukraine war, supply chain disruptions, and government stimulus measures. The episode explores whether Harris's plans to aid renters and expand housing supply can genuinely alleviate the ongoing housing market challenges. Moreover, we discuss the unsettling trend of corporations passing the cost of fines onto consumers, leading to further price hikes. As we wrap up, we'll leave you pondering an eerie phenomenon: a mysterious fish off the coast of California that some consider an omen. Stay tuned for Monday's episode where we'll dive deeper into this intriguing topic.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:02):
What you just said is one of the most insanely
idiotic things I have ever heard.
At no point in your rambling,incoherent response were you
even close to anything thatcould be considered a rational
thought.
Everyone in this room is nowdumber for having listened to.
(00:22):
It is now dumber for havinglistened to it.
You don't know what that oughtis, mr Trash, I'd show you, but
I'm too old, I'm too tired, I'mtoo fucking blind.
If I were the man I was fiveyears ago.
Speaker 2 (00:41):
I'd take a flamethrower to this place, do
you understand?
Speaker 1 (00:49):
the words that are coming out of my mouth.
You want answers.
I think I'm entitled.
You want answers, I want thetruth.
Speaker 2 (00:57):
You can't handle the truth.
We've said it once, we've saidit a thousand times the truth
shall always be free.
This is Jim.
Let's get off my lawn.
I want to talk about the KamalaHarris economic plan.
We've said it once, we've saidit a thousand times the truth
shall always be free.
This is Tim.
Let's get off my lawn the MadRamblings of a Gen Xer.
I want to talk about the KamalaHarris economic plan.
I want to talk aboutgreedflation.
Greedflation has always been afavorite term of mine.
I remember back in the 70s thisis what everything was going on
(01:19):
with Jimmy Carter.
We're not going to go intohistory because a lot of people
don't even care about history.
A lot of people don't evenlearn about history.
A lot of people don't evenlearn about what happens with
the gas lines, with inflation,with stagflation, everything
that was under the carteradministration, and we're kind
of heading that way again.
And greedflation is basicallythose evil corporations.
Speaker 1 (01:41):
They are going out and squilling the little man.
Speaker 2 (01:48):
Yes, that's the Kamala Harris plan right now.
We're going to hear it todayand, I believe, in Raleigh,
north Carolina.
All of her wonderful ideas andone of her first and I think
it's the best idea she has, andof course, I'm being facetious
she wants to create a.
(02:09):
Okay, now, remember this thegovernment right now is in
control of Social Security,which is a hot mess.
They're in control of the mail,which is a failing organization
and a hot mess.
They're in control of Medicareand Medicaid, which are all hot
messes.
Anything that the governmenttakes over usually turns out to
(02:29):
be a harbinger of doom, andthat's kind of what we're
looking at, because on day one,her priority is going to be that
she is going to give theFederal Trade Commission and
state attorney generals theability to impose harsh
penalties on companies forsetting excessively high prices.
So we're going to go after thepeople that make our food.
(02:55):
We are going to go after thepeople that provide jobs.
We are going to go after thepeople that do everything for
this country to keep the economyrolling, because they are
corporate evil.
So we're going to go after allthese guys.
If you want to talk aboutMarxism this is 100% Marxism you
(03:15):
actually are going to go afterprivate corporations with the
federal government and say tothem you are charging too much.
How are you going to actuallyfulfill this claim?
How are you actually going toprove this claim?
Remember when Biden came outabout a year ago and said we
have to go after the gasstations because they're gouging
(03:37):
the prices?
Well, no, majority of gasstations aren't price gouging.
Majority of gas stations makepennies on the dollars on gas,
because I know people that owngas stations.
All their money is usually madethrough convenience stores.
That's why the majority of gasstations you go into have a
convenience store, becausethat's where they make their
profits.
They are not making the profitson the fuel on the ground.
(03:59):
They charge based on what theyare charged to purchase the gas.
That's how that money, that'show that works, joe.
So you're going to have to provethat these people, these evil
corporations, are gouging theprices.
It's Marxism.
So you're going to give thecontrol to the federal
(04:22):
government to do this.
We're going to keep up.
We have a little chart here.
It's grocery profit margincompared to market averages and
I think, why am I even going totalk about the chart?
We're just going to leave thechart up here.
I don't know which side it's onbecause I haven't put the chart
up yet, but we're going to justleave the chart here so you can
see what's going on.
(04:45):
Does anyone remember that backin the Soviet Union days they
had price controls of groceries?
The government did.
Does anyone remember that?
I know that's crazy to think of, but does anyone remember that?
She's also talking aboutincluding a per child tax credit
up to $6,000 for families, atax credit for people without
children who work no-transcript,and a health care tax providing
(05:07):
$6,000 through the AffordableCare Act.
This is all great.
Who the fuck's going to pay forit?
Oh, there's probably going tobe some taxes on the
corporations and the rich.
That's what it's going to be.
That's what it's going to be.
That's what it's going to be.
Now.
I love it because the New YorkTimes came out with an article
(05:30):
and the New York Times is notwhat I refer to as a bastion of
hope for Republicans, it'susually a very liberal paper and
they even came out and saidHarris plans to ban grocery
price gouging.
What does the evidence say?
I love one egg farmer Becauseeggs shot up exponentially.
And this one egg farmer saidlisten, there are less eggs and
(05:53):
that's why the price.
Do you remember back in the daywhen the government killed all
those hens and chickens for birdand swine flu, even though a
lot of the farmers came out andsaid none of our chickens or
hens tested positive for avianflu, not swine flu Swine flu
would be chicken for avian fluEven though none of them tested
positive?
But they killed all the hensand chickens, but they killed
(06:13):
all the hens and chickens.
So when you do something likethat and you produce less of a
product, it is a glitch or it isan issue in the supply chain.
So what happens?
When you have less of something?
The demand goes up, the pricegoes up.
I know this seems like basiceconomics to some, but it's
(06:36):
evidently not.
And when you have world supplychain issues which most
economists are suggesting noware going to happen more
frequently and you're includingtrade wars, geopolitical
instability, climate change Ilove climate change Because
climate change in some regards,the climate changes every year.
Guys, I'm not a climate changedenier.
(06:58):
It changes every year.
Most scientists will tell youthat.
But there are areas where youhave droughts.
You have areas where theprecious resources that we need
to literally create theseproducts are in such high demand
and the cost of fuel, the costof manpower, the cost of
machinery to refine, to dig, toget these minerals, has shot up
(07:19):
exponentially as well.
And the fact that you have, like, two countries who control the
majority of these minerals inIndia and China.
Because we don't want to dothat, we don't, we.
And when it comes to mining,the United States over the last
30 years has now not.
Mining, of course, is not thecleanest operation, but over the
(07:39):
last 30 years the United Stateshas created an ability to mine
ore at a much more efficientlevel for the environment.
Places like China and Indiadon't do that.
So when we talk about ourcarbon footprint, we have
reduced our carbon footprint byquite a lot, while China and
India have increased theirsbecause they are building coal
(08:00):
plants weekly, monthly, toproduce energy, to refine these
products, to make money, and werefuse to do it here because we
are protecting the environment.
But the problem is this we'realso relying on our enemies in
China not India, but in China torefine the products and
manufacturers of the goods thatwe need.
We learned that during COVID,but again, we don't learn the
(08:23):
lessons of the past because wedon't want to talk about that.
We don't want to talk about thefact that Biden overheated the
economy with the economic rescueplan.
Where, with those $1,400payments to consumers.
The economic rescue plan where,with those $1,400 payments to
consumers.
So then you now have consumerswith money chasing smaller,
little amount of goods, lessamount of goods, which causes
(08:43):
wait for it inflation.
You are headed towards aMarxist country.
When you're sitting theresaying that you are going to
allow the federal government togo after corporations for their
greed, for their profits, forprice gouging, even though you
(09:04):
have no way to prove it.
You have no way to prove thatthey are doing this and the fact
that they could probably proveto you easier that they're not
doing it.
I remember when Biden was goingafter grocery stores.
Grocery stores are charging toomuch.
They are charging what theyneed to to survive because they
(09:25):
have overhead, they have power,they have employment, they have
health insurance, they havedelivery fees, they have all
these things, but it's going tobe a message for the swing
voters that there is the evilcorporation boogeyman that is
causing you all this pain.
Factories shut down in 2021.
(09:48):
We had supply chains issues.
We had a rapid increase ininflation 2021-2022.
Inflation went up even moreduring the start of the
Russia-Ukraine war and I love itbecause it was the Putin price
(10:09):
hikes.
No, it was the fact that we'rediverting resources and we get a
lot of grain from Ukraine.
But we don't want to talk aboutthose things Because again,
it's another supply chain issue.
Talk about those things Becauseagain, it's another supply
chain issue.
The consumer price indexclimbed to 2.9% through July and
the data this week showed thatinflation has dipped to 3% since
(10:30):
2021.
But that's the rate ofinflation.
That's not inflation.
Inflation on some goods areover 20-something percent.
Now, of course, companies areable to rake in the big profits
for a very simple reasonConsumer demand was very strong.
The Fed and congressionalefforts to boast the household
(10:52):
like I said, boast householdsduring the pandemic, with that
$1,400 payment, again helpedoverheat the economy.
You have people with moneychasing less goods, which causes
inflation.
And, like I said, when you havethese shortages and higher
(11:12):
costs of raw materials and itcosts more to make manufacture
something, the goods, the pricesof the goods or services has to
be passed on to someone.
And if you have to have theevil corporate boogeyman and
that's what most people aregoing to like, because it's
going to be the more simplisticoption for people.
(11:34):
It's going to be.
They can understand more thatit's everyone's fault, but yours
, it's everyone's fault but thefederal government's I'm trying
to find my notes here.
I'm also watching the stockmarket at the same time, because
(11:55):
the stock market's already down.
We had a good week after thathorrendous week.
The Kamala Harris plan also isgoing to help cash-strapped
renters by blocking data firmsfrom hiking lease rates, by
preventing Wall Street investorsfrom buying homes in bulk and
reselling them at a premium.
(12:15):
Yes, some people have done that, but that's not one of the
problems that is causing thehousing issue.
It's interest rates.
It's the fact that there's anissue in reference to getting
products to build homes.
I'll give you a good example.
We were going to move.
We were going to move toanother state a couple years
back and we actually were in theprocess of building the house
(12:40):
and we had a date that the housewas going to start being built
and they had a finish date, acompletion date, but that
completion date kept gettingpushed back because of the fact
that they couldn't get thelumber, they couldn't get the
supplies, they couldn't get theroofing materials.
Now, that house which a coupleyears back probably would have
(13:03):
cost like $300,000, was sellingfor $490,000.
And the builder had such anissue selling these homes.
Like I said, they were doingeverything they possibly could
in reference to helping withmortgage payments and helping
with closing costs that theywere just giving stuff away, but
the rate of the interest ratewas just so high nobody was
(13:23):
buying.
So, under this, harris will callfor the US to construct 3
million new housing units overthe next four years.
In order to facilitate that,she will call for new tax
incentives for builders toconstruct starter homes.
So they're going to give moretax incentives.
So, in other words, we aregiving out more money.
The federal government's givingout more money.
(13:43):
Our rate of debt right now isso insane we are going to go out
and give more money.
Now, of course, any of thesechanges that she wants to make
is going to requirecongressional approval and it's
really going to matter whocontrols both the House and the
Senate.
I love it because I love this.
This came from a fact sheet ofthe Harris plan.
(14:05):
As the supply of entry-heavyhomes expands, the Harris plan
would provide working familieswho have paid rent over time for
the next two years and arebuying their first home up to
$25,000 and downpay ourassistance with the more
generous support forfirst-generation homeowners.
Where are we getting this$25,000 from?
Does anyone know?
(14:27):
Bueller, bueller, where's this$25,000 coming from?
Oh, it's going to be more taxes.
She's also looking to expandthe $35 cap on insulin and
Medicare recipients.
Let me see what else.
She's also restoring theexpanded child care credits,
which first introduced duringthe COVID pandemic and a
(14:48):
longstanding goal of the Bidenadministration.
So we're going to extend those.
But what are we going to do withthe tax?
What are we going to do withthe Trump tax cuts?
Because you know they're goingto go after corporations.
We had one of the highest taxlevels for corporations in years
until Trump came in and then,amazingly, after you cut that,
inflation was almost nothing,you had jobs, you had an economy
(15:15):
that was rolling.
But you also put money back in.
I know we talk about the evilcorporations.
We talk about the evilcorporations, but we also don't
talk about the fact that he alsoput money back into your
paycheck, weekly money back intoyour paycheck, weekly.
So if those tax credits expire,like they're supposed to, in
(15:39):
2025, that couple hundreddollars, you see a week extra in
your check that you've probablyforgotten about over the last
three and a half, four or fiveyears, is going to go away.
And what are we going to doabout gas prices?
How are we going to keep stoprelying on on on Venezuela, on
(15:59):
OPEC, on Saudi Arabia and allthese other countries Cause we
were energy independent thatlast year on the Trump
administration?
So all these wonderful thingsthat she wants to do, all these,
all these Marxist ideas that wewant to go after these evil
corporations who only supply theservices and the goods and the
jobs and the money for people tolive.
(16:21):
We're going to go after all ofthem because they're evil.
Remember that they are evil.
If you want a Marxist,communist, socialist state, here
you go, and she's going to dothis within the first 100 days.
She can't prove price gouging,she can't prove any of this, but
she is going to allow thefederal and local governments to
go after corporations that theydeem are gouging prices.
(16:47):
This, this, this, this is, thisis, this is so, this is.
This is soviet union stuff.
It's greedflation.
This is soviet.
This is Soviet Union stuff.
It's greedflation.
This is Soviet, union-typestyle government, and we saw how
well it worked out for theSoviet Union.
We saw the fall and thecollapse of the Soviet Union.
We saw how well that worked outfor their economy for years.
(17:14):
Get smart people, look intothis.
Don't just say oh, say oh,we're gonna do.
All these great things, allthese wonderful things that she
wants to give, all thesegiveaways she wants to have,
comes with a price, comes with ahigher personal tax, comes with
a higher corporate tax, andshe'll say, well, we're not
going to tax anyone making under400,000, okay, but we also are
not going to go after peoplewith the IRS, even though we
(17:36):
hired 88,000 additional.
We're going to hire 88,000additional agents because
they're all going after themillionaires, even though there
are probably more IRS agentsthan there are millionaires in
this country.
But that's okay.
And where does it stop?
You are now being taxed onthings such as eBay, on the VEMU
payments.
You are now going to be taxedwhen you sell things on Etsy.
(18:00):
You're being taxed at now.
Before it was.
Now, it's only $600.
Before it was $20,000.
You're going to be taxed on allthat this year, guys, or we
forget about these things.
So who's to say that thegovernment's not going to be
taxed on all that this year,guys, or we forget about these
things.
So who's to say that thegovernment's not going to say
eBay, you're price gouging, wehave to fine you.
(18:21):
And when these corporationsreceive these fines, where do
you think they're going to passon the pricing to?
The price increases too.
Oh yes, the consumer.
I get more and more worriedevery day.
Price increases too.
Oh yes, the consumer.
I get more and more worriedevery day.
There's more and more signs ofthe pending doom in the
apocalypse.
We're going to talk about thaton Monday, especially that fish
(18:44):
that just popped up off thecoast of California, which is
also referred to as theharbinger of doom.
So stay tuned for that.
Enjoy your weekend and rememberthere's a truth to all of us
that you of Doom.
So stay tuned for that.
Enjoy your weekend and rememberthis is the truth.
It's always such a free.
This is Tim.
It's got my law in the madrealm.
He's a gen Xer and I'm out ofhere you.
What you just said is one of the most insanely
idiotic things I have ever heard.
At no point in your rambling,incoherent response were you
even close to anything thatcould be considered a rational
thought.
Everyone in this room is nowdumber for having listened to.
(00:22):
It is now dumber for havinglistened to it.
You don't know what that oughtis, mr Trash, I'd show you, but
I'm too old, I'm too tired, I'mtoo fucking blind.
If I were the man I was fiveyears ago.
Speaker 2 (00:41):
I'd take a flamethrower to this place, do
you understand?
Speaker 1 (00:49):
the words that are coming out of my mouth.
You want answers.
I think I'm entitled.
You want answers, I want thetruth.
Speaker 2 (00:57):
You can't handle the truth.
We've said it once, we've saidit a thousand times the truth
shall always be free.
This is Jim.
Let's get off my lawn.
I want to talk about the KamalaHarris economic plan.
We've said it once, we've saidit a thousand times the truth
shall always be free.
This is Tim.
Let's get off my lawn the MadRamblings of a Gen Xer.
I want to talk about the KamalaHarris economic plan.
I want to talk aboutgreedflation.
Greedflation has always been afavorite term of mine.
I remember back in the 70s thisis what everything was going on
(01:19):
with Jimmy Carter.
We're not going to go intohistory because a lot of people
don't even care about history.
A lot of people don't evenlearn about history.
A lot of people don't evenlearn about what happens with
the gas lines, with inflation,with stagflation, everything
that was under the carteradministration, and we're kind
of heading that way again.
And greedflation is basicallythose evil corporations.
Speaker 1 (01:41):
They are going out and squilling the little man.
Speaker 2 (01:48):
Yes, that's the Kamala Harris plan right now.
We're going to hear it todayand, I believe, in Raleigh,
north Carolina.
All of her wonderful ideas andone of her first and I think
it's the best idea she has, andof course, I'm being facetious
she wants to create a.
(02:09):
Okay, now, remember this thegovernment right now is in
control of Social Security,which is a hot mess.
They're in control of the mail,which is a failing organization
and a hot mess.
They're in control of Medicareand Medicaid, which are all hot
messes.
Anything that the governmenttakes over usually turns out to
(02:29):
be a harbinger of doom, andthat's kind of what we're
looking at, because on day one,her priority is going to be that
she is going to give theFederal Trade Commission and
state attorney generals theability to impose harsh
penalties on companies forsetting excessively high prices.
So we're going to go after thepeople that make our food.
(02:55):
We are going to go after thepeople that provide jobs.
We are going to go after thepeople that do everything for
this country to keep the economyrolling, because they are
corporate evil.
So we're going to go after allthese guys.
If you want to talk aboutMarxism this is 100% Marxism you
(03:15):
actually are going to go afterprivate corporations with the
federal government and say tothem you are charging too much.
How are you going to actuallyfulfill this claim?
How are you actually going toprove this claim?
Remember when Biden came outabout a year ago and said we
have to go after the gasstations because they're gouging
(03:37):
the prices?
Well, no, majority of gasstations aren't price gouging.
Majority of gas stations makepennies on the dollars on gas,
because I know people that owngas stations.
All their money is usually madethrough convenience stores.
That's why the majority of gasstations you go into have a
convenience store, becausethat's where they make their
profits.
They are not making the profitson the fuel on the ground.
(03:59):
They charge based on what theyare charged to purchase the gas.
That's how that money, that'show that works, joe.
So you're going to have to provethat these people, these evil
corporations, are gouging theprices.
It's Marxism.
So you're going to give thecontrol to the federal
(04:22):
government to do this.
We're going to keep up.
We have a little chart here.
It's grocery profit margincompared to market averages and
I think, why am I even going totalk about the chart?
We're just going to leave thechart up here.
I don't know which side it's onbecause I haven't put the chart
up yet, but we're going to justleave the chart here so you can
see what's going on.
(04:45):
Does anyone remember that backin the Soviet Union days they
had price controls of groceries?
The government did.
Does anyone remember that?
I know that's crazy to think of, but does anyone remember that?
She's also talking aboutincluding a per child tax credit
up to $6,000 for families, atax credit for people without
children who work no-transcript,and a health care tax providing
(05:07):
$6,000 through the AffordableCare Act.
This is all great.
Who the fuck's going to pay forit?
Oh, there's probably going tobe some taxes on the
corporations and the rich.
That's what it's going to be.
That's what it's going to be.
That's what it's going to be.
Now.
I love it because the New YorkTimes came out with an article
(05:30):
and the New York Times is notwhat I refer to as a bastion of
hope for Republicans, it'susually a very liberal paper and
they even came out and saidHarris plans to ban grocery
price gouging.
What does the evidence say?
I love one egg farmer Becauseeggs shot up exponentially.
And this one egg farmer saidlisten, there are less eggs and
(05:53):
that's why the price.
Do you remember back in the daywhen the government killed all
those hens and chickens for birdand swine flu, even though a
lot of the farmers came out andsaid none of our chickens or
hens tested positive for avianflu, not swine flu Swine flu
would be chicken for avian fluEven though none of them tested
positive?
But they killed all the hensand chickens, but they killed
(06:13):
all the hens and chickens.
So when you do something likethat and you produce less of a
product, it is a glitch or it isan issue in the supply chain.
So what happens?
When you have less of something?
The demand goes up, the pricegoes up.
I know this seems like basiceconomics to some, but it's
(06:36):
evidently not.
And when you have world supplychain issues which most
economists are suggesting noware going to happen more
frequently and you're includingtrade wars, geopolitical
instability, climate change Ilove climate change Because
climate change in some regards,the climate changes every year.
Guys, I'm not a climate changedenier.
(06:58):
It changes every year.
Most scientists will tell youthat.
But there are areas where youhave droughts.
You have areas where theprecious resources that we need
to literally create theseproducts are in such high demand
and the cost of fuel, the costof manpower, the cost of
machinery to refine, to dig, toget these minerals, has shot up
(07:19):
exponentially as well.
And the fact that you have, like, two countries who control the
majority of these minerals inIndia and China.
Because we don't want to dothat, we don't, we.
And when it comes to mining,the United States over the last
30 years has now not.
Mining, of course, is not thecleanest operation, but over the
(07:39):
last 30 years the United Stateshas created an ability to mine
ore at a much more efficientlevel for the environment.
Places like China and Indiadon't do that.
So when we talk about ourcarbon footprint, we have
reduced our carbon footprint byquite a lot, while China and
India have increased theirsbecause they are building coal
(08:00):
plants weekly, monthly, toproduce energy, to refine these
products, to make money, and werefuse to do it here because we
are protecting the environment.
But the problem is this we'realso relying on our enemies in
China not India, but in China torefine the products and
manufacturers of the goods thatwe need.
We learned that during COVID,but again, we don't learn the
(08:23):
lessons of the past because wedon't want to talk about that.
We don't want to talk about thefact that Biden overheated the
economy with the economic rescueplan.
Where, with those $1,400payments to consumers.
The economic rescue plan where,with those $1,400 payments to
consumers.
So then you now have consumerswith money chasing smaller,
little amount of goods, lessamount of goods, which causes
(08:43):
wait for it inflation.
You are headed towards aMarxist country.
When you're sitting theresaying that you are going to
allow the federal government togo after corporations for their
greed, for their profits, forprice gouging, even though you
(09:04):
have no way to prove it.
You have no way to prove thatthey are doing this and the fact
that they could probably proveto you easier that they're not
doing it.
I remember when Biden was goingafter grocery stores.
Grocery stores are charging toomuch.
They are charging what theyneed to to survive because they
(09:25):
have overhead, they have power,they have employment, they have
health insurance, they havedelivery fees, they have all
these things, but it's going tobe a message for the swing
voters that there is the evilcorporation boogeyman that is
causing you all this pain.
Factories shut down in 2021.
(09:48):
We had supply chains issues.
We had a rapid increase ininflation 2021-2022.
Inflation went up even moreduring the start of the
Russia-Ukraine war and I love itbecause it was the Putin price
(10:09):
hikes.
No, it was the fact that we'rediverting resources and we get a
lot of grain from Ukraine.
But we don't want to talk aboutthose things Because again,
it's another supply chain issue.
Talk about those things Becauseagain, it's another supply
chain issue.
The consumer price indexclimbed to 2.9% through July and
the data this week showed thatinflation has dipped to 3% since
(10:30):
2021.
But that's the rate ofinflation.
That's not inflation.
Inflation on some goods areover 20-something percent.
Now, of course, companies areable to rake in the big profits
for a very simple reasonConsumer demand was very strong.
The Fed and congressionalefforts to boast the household
(10:52):
like I said, boast householdsduring the pandemic, with that
$1,400 payment, again helpedoverheat the economy.
You have people with moneychasing less goods, which causes
inflation.
And, like I said, when you havethese shortages and higher
(11:12):
costs of raw materials and itcosts more to make manufacture
something, the goods, the pricesof the goods or services has to
be passed on to someone.
And if you have to have theevil corporate boogeyman and
that's what most people aregoing to like, because it's
going to be the more simplisticoption for people.
(11:34):
It's going to be.
They can understand more thatit's everyone's fault, but yours
, it's everyone's fault but thefederal government's I'm trying
to find my notes here.
I'm also watching the stockmarket at the same time, because
(11:55):
the stock market's already down.
We had a good week after thathorrendous week.
The Kamala Harris plan also isgoing to help cash-strapped
renters by blocking data firmsfrom hiking lease rates, by
preventing Wall Street investorsfrom buying homes in bulk and
reselling them at a premium.
(12:15):
Yes, some people have done that, but that's not one of the
problems that is causing thehousing issue.
It's interest rates.
It's the fact that there's anissue in reference to getting
products to build homes.
I'll give you a good example.
We were going to move.
We were going to move toanother state a couple years
back and we actually were in theprocess of building the house
(12:40):
and we had a date that the housewas going to start being built
and they had a finish date, acompletion date, but that
completion date kept gettingpushed back because of the fact
that they couldn't get thelumber, they couldn't get the
supplies, they couldn't get theroofing materials.
Now, that house which a coupleyears back probably would have
(13:03):
cost like $300,000, was sellingfor $490,000.
And the builder had such anissue selling these homes.
Like I said, they were doingeverything they possibly could
in reference to helping withmortgage payments and helping
with closing costs that theywere just giving stuff away, but
the rate of the interest ratewas just so high nobody was
(13:23):
buying.
So, under this, harris will callfor the US to construct 3
million new housing units overthe next four years.
In order to facilitate that,she will call for new tax
incentives for builders toconstruct starter homes.
So they're going to give moretax incentives.
So, in other words, we aregiving out more money.
The federal government's givingout more money.
(13:43):
Our rate of debt right now isso insane we are going to go out
and give more money.
Now, of course, any of thesechanges that she wants to make
is going to requirecongressional approval and it's
really going to matter whocontrols both the House and the
Senate.
I love it because I love this.
This came from a fact sheet ofthe Harris plan.
(14:05):
As the supply of entry-heavyhomes expands, the Harris plan
would provide working familieswho have paid rent over time for
the next two years and arebuying their first home up to
$25,000 and downpay ourassistance with the more
generous support forfirst-generation homeowners.
Where are we getting this$25,000 from?
Does anyone know?
(14:27):
Bueller, bueller, where's this$25,000 coming from?
Oh, it's going to be more taxes.
She's also looking to expandthe $35 cap on insulin and
Medicare recipients.
Let me see what else.
She's also restoring theexpanded child care credits,
which first introduced duringthe COVID pandemic and a
(14:48):
longstanding goal of the Bidenadministration.
So we're going to extend those.
But what are we going to do withthe tax?
What are we going to do withthe Trump tax cuts?
Because you know they're goingto go after corporations.
We had one of the highest taxlevels for corporations in years
until Trump came in and then,amazingly, after you cut that,
inflation was almost nothing,you had jobs, you had an economy
(15:15):
that was rolling.
But you also put money back in.
I know we talk about the evilcorporations.
We talk about the evilcorporations, but we also don't
talk about the fact that he alsoput money back into your
paycheck, weekly money back intoyour paycheck, weekly.
So if those tax credits expire,like they're supposed to, in
(15:39):
2025, that couple hundreddollars, you see a week extra in
your check that you've probablyforgotten about over the last
three and a half, four or fiveyears, is going to go away.
And what are we going to doabout gas prices?
How are we going to keep stoprelying on on on Venezuela, on
(15:59):
OPEC, on Saudi Arabia and allthese other countries Cause we
were energy independent thatlast year on the Trump
administration?
So all these wonderful thingsthat she wants to do, all these,
all these Marxist ideas that wewant to go after these evil
corporations who only supply theservices and the goods and the
jobs and the money for people tolive.
(16:21):
We're going to go after all ofthem because they're evil.
Remember that they are evil.
If you want a Marxist,communist, socialist state, here
you go, and she's going to dothis within the first 100 days.
She can't prove price gouging,she can't prove any of this, but
she is going to allow thefederal and local governments to
go after corporations that theydeem are gouging prices.
(16:47):
This, this, this, this is, thisis, this is so, this is.
This is soviet union stuff.
It's greedflation.
This is soviet.
This is Soviet Union stuff.
It's greedflation.
This is Soviet, union-typestyle government, and we saw how
well it worked out for theSoviet Union.
We saw the fall and thecollapse of the Soviet Union.
We saw how well that worked outfor their economy for years.
(17:14):
Get smart people, look intothis.
Don't just say oh, say oh,we're gonna do.
All these great things, allthese wonderful things that she
wants to give, all thesegiveaways she wants to have,
comes with a price, comes with ahigher personal tax, comes with
a higher corporate tax, andshe'll say, well, we're not
going to tax anyone making under400,000, okay, but we also are
not going to go after peoplewith the IRS, even though we
(17:36):
hired 88,000 additional.
We're going to hire 88,000additional agents because
they're all going after themillionaires, even though there
are probably more IRS agentsthan there are millionaires in
this country.
But that's okay.
And where does it stop?
You are now being taxed onthings such as eBay, on the VEMU
payments.
You are now going to be taxedwhen you sell things on Etsy.
(18:00):
You're being taxed at now.
Before it was.
Now, it's only $600.
Before it was $20,000.
You're going to be taxed on allthat this year, guys, or we
forget about these things.
So who's to say that thegovernment's not going to be
taxed on all that this year,guys, or we forget about these
things.
So who's to say that thegovernment's not going to say
eBay, you're price gouging, wehave to fine you.
(18:21):
And when these corporationsreceive these fines, where do
you think they're going to passon the pricing to?
The price increases too.
Oh yes, the consumer.
I get more and more worriedevery day.
Price increases too.
Oh yes, the consumer.
I get more and more worriedevery day.
There's more and more signs ofthe pending doom in the
apocalypse.
We're going to talk about thaton Monday, especially that fish
(18:44):
that just popped up off thecoast of California, which is
also referred to as theharbinger of doom.
So stay tuned for that.
Enjoy your weekend and rememberthere's a truth to all of us
that you of Doom.
So stay tuned for that.
Enjoy your weekend and rememberthis is the truth.
It's always such a free.
This is Tim.
It's got my law in the madrealm.
He's a gen Xer and I'm out ofhere you.
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