July 11, 2025 • 33 mins
See omnystudio.com/listener for privacy information.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:04):
It's that time time time time. There's Luck and Load
from Michael Varry Show is on the air. It's Charlie
from BlackBerry Smoke. I can feel a good one coming on.
(00:24):
It's the Michael Berry Show.
Speaker 2 (00:26):
In that build. It came out of the House and
the Senate Center, and then it's to be worked out
between the two, the reconciliation process it's called because they're
different bills, because there's a lot of haggling.
Speaker 1 (00:37):
It goes on behind the scenes.
Speaker 3 (00:40):
It was.
Speaker 2 (00:43):
At Trump's direction, and he still has control over the
Republicans in the House in the Senate, at least enough
control to get what he wants done, which is why
the day before July fourth, as we expect, did at
the last minute a bill was passed. Passing a bill
at the last minute also gives a congressman some cover
(01:07):
when they do that which their district doesn't want them
to do, because they say, well, it was the last minute,
we had to do it. I didn't want to do it.
If I'd had more time, I would have done this,
this or this. But that bill passing it was important
to Trump to get enough of what he wanted that
he understood by strategy. This is his second term not
(01:29):
his first, makes a big difference. He understood he needed
everything in what we used to call an omnibus bill.
You've got to get everything into one bill, because if
you start trying to get one thing here and one
thing there, you.
Speaker 1 (01:44):
Will get picked apart.
Speaker 2 (01:46):
So in order to get what Bob wants, you get
Bob to vote for something that Sam wants. And in
order to get Jane what she wants, she has to
vote for what Bob and Sam want, even though those
are two things she wouldn't otherwise vote for. That's how
you get a good deal. You have to give enough
people enough things. That's how they got Lisa Murkowski from
(02:07):
Alaska to vote for this, which they desperately needed, is
they gave her some goodies for Alaska at the last
minute to cut a.
Speaker 1 (02:15):
Deal, and of course she did.
Speaker 2 (02:17):
We haven't really talked about what's in it, but it's
going to have a huge impact on every single person
that files taxes, I mean, just the reality. The good
news is, I don't think it's going to be a
huge change for most people. There are some things funded
in the build, like ice at a level we've never seen,
(02:38):
more than I think all militaries except for two. But
I wanted to talk about how this affects you and
your businesses. So I have talked to my CPAs at
DeRose Partners throughout this process, and I've been tracking with
them various elements in there, not so much as it
affects me, but as it affects business owners and medium
(03:00):
sized business owners out there where this is going to
hit the most. I have asked Aaron McPhee with de
Rose Partners to join us, and he's our guest.
Speaker 1 (03:09):
Welcome, Hey Michael, how are you good?
Speaker 2 (03:13):
So, Aaron, my understanding is, and that's from a lot
of cursory reading. I did go to the Tax Foundation
this morning and look at their final kind of cut,
at this swipe, at this, and my understanding is, you
would say, to most middle income earners and small business
owners by and large, there's nothing dramatic in this bill.
Speaker 1 (03:37):
Can we start with that?
Speaker 4 (03:40):
Yeah, I'd agree. You know, a lot of this is
aimed at middle income. You know, it's extending a lot
of the things that happened in twenty seventeen that we
have been following for the last number of years, and
so not a whole lot of changes, a lot of
it's being extended and most time through twenty twenty nine.
Speaker 2 (04:00):
And that's important for people to understand because what many
did not I think what many did not realize is
the tax cuts that Trump put into place in twenty seventeen.
We're both very popular and very effective. They spurred an
economy that in January of twenty twenty we were really
seeing accelerated and on fire. Those tax cuts were set
(04:24):
to expire. So the big victory of the One Big
Beautiful Bill was to extend those tax cuts. That's hard
for people to get excited about, but realizing what you
were about to lose is and maybe I think Republicans
didn't do a good job of explaining that.
Speaker 3 (04:41):
Right.
Speaker 4 (04:41):
That is correct. You know, tax rates were about to
go back up. You know, the highest rate was a
thirty seven point six percent, so keeping it at thirty
five at.
Speaker 3 (04:52):
The top rate.
Speaker 4 (04:53):
Also, all the lower rates are staying where they are,
So that's going to have a big impact I think
on individuals versus what could have happened.
Speaker 2 (05:03):
Let's talk about some of those provisions and how you
expect to guide your business owner clients and high net
worth individual clients.
Speaker 1 (05:11):
Aaron McPhee is our guest.
Speaker 2 (05:14):
We start with the estate planning, and that's sort of
one of the things I read from folks who have
reviewed this that I respect, who are more tax scholars
and tax experts in talking to you folks, is that
the good news is this provides a degree of stability.
But when we talk about folks planning their estate and
what they're going to pass to their kids, talk a
(05:35):
little bit about the minor change in that.
Speaker 4 (05:40):
Yeah, So they essentially set the estate threshold, your lifetime
exemption that you get where it currently is, and they
indexed it to inflation, whereas it was set to revert
back to twenty seventeen thresholds. Of course, time value money
(06:00):
things are more expensive now, you know, it didn't make
sense to go back to that threshold. So they decided
to go ahead and bump it back to where it
was and keep it at a permanent level there.
Speaker 2 (06:12):
When you look, let me ask you a more open
ended question, and I guess we'll have to wait until no.
Speaker 1 (06:20):
I got time.
Speaker 2 (06:22):
If you're calling a business owner of a mid sized
business or a high net worth end of it, let's
start with a mid sized business and you say, here's
one thing in this bill that I think you're really
going to like, what would that be?
Speaker 4 (06:35):
I think the bonus appreciation going back to one hundred
percent is huge for business owners. That's probably the key
thing I would think that they'd be interested in because
it was set to be at forty percent for twenty
twenty five. So you spend a dollar today, you don't
get to deduct all of it in the year that
you spend the money. You have to spread it out
(06:56):
over a number of years, and so back that bonus
appreciation is key.
Speaker 2 (07:03):
I think it also should spur a lot of economic
activity because everybody's looking at the hero let right absolutely,
and that's the sort of thing that matters. We talk
a lot about the salt cap, the state and local
tax deduction, and that has a lot to do with
high tax states like California and low tax states like
(07:24):
Florida and Texas.
Speaker 1 (07:26):
Where does that end up.
Speaker 4 (07:29):
Yeah, So they have raised the cap up to forty
thousand dollars and it is index for inflation, and there
are caps and face downs for higher income individuals.
Speaker 3 (07:40):
So what that means is more.
Speaker 4 (07:42):
Texans are going to be able to deduct their full
property tax that they pay each year, which is a
big help, I think because most of the property taxes
were capped at the ten thousand dollars level, and so
now they've got a little bit more breathing room to
be able to take that deduction.
Speaker 2 (07:58):
I want to come back with just one moment. I
want to come back to that issue and what that
looks like dollars and cents, and we'll create a brisk
hypothetical Aaron McPhee with Deroch Partners as our guests, more
on the one Big Beautiful tax Bill coming up on.
Speaker 1 (08:16):
The Michael Verie Show.
Speaker 2 (08:20):
Several years ago, I set about trying to create a
one stop shop for our listeners for financial services of
various types. But I wanted to get the right folks
with the right or competence, the right heart for it,
(08:40):
who were fans of the show, so they would understand
our values and they would understand the kind of people
we were sending them. And that meant somebody to handle
estate planning, meant someone to handle financial planning. Estate planning
we do Christine Weaver financial planning, Steve Old, my friend,
Martin Lopez and John and Andy McGee and credit card processing,
(09:02):
and I wanted all of that under one roof, and
I wanted someone who could handle the tax strategy, not
just a CPA, but could handle the CPA portion, but
a tax strategy. One of the things I've noted over
the years is that when I start asking questions off
air that I would never ask on air, you know
(09:26):
what's the plan when you sell? How strategic are you
in not only complying with tax laws but aggressively finding
ways to cut costs, to cut taxes, to look for
ways that tax laws will guide you to make more
money if you simply do something that would be very
(09:48):
natural to your business anyway. So Deroche Partners was the
partner we chose. Aaron McPhee is one of the partners there.
He is our guest, to be clear, the person who
did taxes for thirty years, my dear friend, Bob ful mcgauley.
He is a wonderful guy. Our business got bigger and
(10:09):
I wanted a partner who could handle that and who
could handle a lot of our clients. And he tends
to do more individual returns. So I still send people
if you just have a basic income tax return, I
still send them there. For our folks who run businesses
or who are high net worth individuals. Our partner for
(10:30):
that is to Roche Partners, that's their expertise. It would
be overkilled for them to handle the average plant worker.
I wouldn't tell you to do that, but we have
a lot of folks out there that run businesses that
are growing or that they're looking to sell, and to
partners is for that. I say all that just so
you you understand where I am in all this. Aaron
(10:51):
mcphe is our guest to Roach partners erin I'm just
going to read you a couple of headlines. When you
google small business owner and small business you know it's
it's it's one of those things like the middle class.
There are a lot of people who consider themselves a
small business owner, and they're way bigger than.
Speaker 1 (11:05):
A small business owner.
Speaker 2 (11:07):
The SBA makes loans to folks that aren't really a
small business owner. But how businesses and manufacturers will benefit
from OBB here's who stands to gain. Let me see,
Senate's Big Beautiful Bill is a disaster for small business.
One Big Beautiful Bill simplified permanent relief for small businesses.
When you are kind of passing judgment on the one
(11:28):
Big Beautiful Bill, as relates to small business owners. Let's
forget what it does to the deficit. Let's forget what
it does to everything else, even the individual tax payer.
Let's talk about the small business owner and does he
win or lose from this, and how.
Speaker 3 (11:46):
I think he wins.
Speaker 4 (11:47):
There's several key aspects in the bill that are very
promising for small business owners. A lot of these things
are phased out once you get into the larger revenue thresholds,
but some of the big ones is the qualified business
income pass through deduction. They increase that to twenty three
percent to kind of help level the playing field with
(12:11):
C corporations, which are using your big corporations. And they
also allowed for the immediate expensing of research and I
guess design costs, which you had to capitalize and spread
those costs over five years. You know, I think they
would want to I guess reward any I guess innovation
(12:34):
that's out there, and so by allowing this full expensing
whenever you incur the cost really helps that.
Speaker 3 (12:42):
I think.
Speaker 2 (12:45):
There is also a lot of reference to R and
D search and development.
Speaker 1 (12:51):
How does this affect that?
Speaker 4 (12:55):
So as part of the original twenty seventeen tax law,
in twenty twenty two companies that were doing research and
development had to capitalize or they had to basically not
deduct those costs, and they had to spread that cost
(13:15):
over five years. And so by changing this piece of
the bill, they were able to allow immediate deduction for
any costs that are incurred for research and development purposes,
and those have to be domestic research and development costs.
Any foreign R and D that's performed has to be
(13:37):
spread over fifteen years.
Speaker 1 (13:41):
Oh sorry, I had my Michael again.
Speaker 2 (13:43):
That's consistent with Trump's approach the tariffs and a lot
of these things are to encourage American manufacturing, to encourage
things on American soil, and that's now baked into into
the tax policy. Is there anything about the one big
Beautiful bill that you know tax policy tends to encourage
(14:04):
and discourage behaviors. Are there things you expect to see
start or stop as behaviors by businesses as a result
of this bill.
Speaker 4 (14:17):
I think one of the surprising things was the new
floor that's on charitable contributions for itemized.
Speaker 1 (14:23):
Yeah, doctor, I saw that.
Speaker 4 (14:25):
That's that was I think a revenue raisor that they
had to put in there to kind of balance things out.
So essentially, half a percent of your income is your threshold.
Once you get above that you can deduct your charity,
and anything below that carries forward. But I thought that
(14:46):
was kind of an interesting thing in there.
Speaker 2 (14:49):
I did too, and I was following the bill as
it was going through, and I was in d C.
So I was meeting with DC folks and we were
talking about what was in the bill and what's being
bad over and what may or may not pass and
what I didn't see coming. And to state that again, folks,
one half of one percent of your income, So if
(15:11):
you make one hundred thousand dollars, five hundred dollars would
be the floor. If you give less than that, correct
me if I'm wrong, Aaron. If you give less than that,
you cannot deduct your charitable contribution, right.
Speaker 3 (15:27):
That's correct.
Speaker 4 (15:27):
If you're an itemizer, there is an above the line
deduction for charity, which I think leases around two thousand dollars. So,
but yeah, anything on your itemized deductions, if you're below
that threshold, you can't deduct it and you have to
carry it forward to a future year.
Speaker 1 (15:44):
I want to talk about that in a moment, Aaron.
Speaker 2 (15:46):
I read on the itemizers that with this standard deduction,
they have reduced and I'm going to get the number wrong,
but I want to say from forty down to thirty
and now only ten percent of filers itemized.
Speaker 1 (16:02):
Does that sound right? People have really gotten away from that.
Speaker 4 (16:05):
Yeah, that definitely could be because the standard deduction is
so high, especially for married couples filing jointly.
Speaker 1 (16:14):
All right, hold with me for just a moment.
Speaker 2 (16:15):
Aaron McPhee is our guest Droche Partner CPA Strategy.
Speaker 1 (16:18):
Start here.
Speaker 2 (16:19):
Our country is telling you today invest in clinics, ladies
and gentlemen. And this is the Michael Barry Show.
Speaker 1 (16:33):
Is a guest.
Speaker 2 (16:34):
He is a partner at Droch Partners, a tax strategy
firm which is sort of like CPA's on steroids or
businesses and high net worth individuals. Unlike the average person
who simply files a tax return, there are a lot
of implications to profitability. There are a lot of implications
(16:56):
to whether to hire people, how to classify those folks,
where to spend your money, when to spend your money,
to maximize the tax advantages or reduce the overall tax consequences,
and run your business wisely. And every business should do that.
You know, Donald Trump made that statement and Dave Chappelle.
(17:18):
One of my favorite Dave Chappelle bits is he said,
I knew Trump was going to win when Hillary Clinton
said Donald Trump hasn't been paying taxes and he is
there for evil. And he said, that's true. And you
wrote those laws and you chose not to change those
laws because all your rich friends wouldn't let you, So
(17:39):
you're disingenuous.
Speaker 1 (17:40):
And I think that was one of those moments.
Speaker 2 (17:41):
As Chappelle said, where people began to understand, you have
to be very wise about the law on the books,
and you need strategists behind you to help you do
that because you're not reading this boring language, I assure you.
Speaker 1 (17:55):
Aaron mcpheeeder Roast Partners, is.
Speaker 2 (17:57):
Our guests eron one of the things I read with
there's one hundred percent deduction for private school vouchers. And again,
it's unfair to ask you about this little little tedious stuff.
Is that something that's popped up on your screen.
Speaker 3 (18:14):
I haven't dug that far into the bill yet.
Speaker 1 (18:16):
Yeah, that happened to be a private don't worry.
Speaker 2 (18:19):
I also saw that the five twenty nine expenditure restrictions
have been loosened so that it's not just for your
kids education, but it's also things related to education, private tuition,
and things like that. That expands the use of that fund.
And I don't know if that's made it on your
(18:39):
it's not a small business advisory.
Speaker 3 (18:42):
Yeah, yeah, yeah.
Speaker 4 (18:43):
They've expanded the coverage to include K through twelve and
some post secondary expenses, and there are higher annual contribution limits.
Speaker 3 (18:54):
So that's definitely I think a benefit to.
Speaker 4 (19:00):
Parents trying to figure out how they're going to pay
for the high cost of education.
Speaker 2 (19:05):
Your value added in partner Partner's value added is that
what most people who run a business on a larger
scale are reading in the news is how does the
tax affect the average taxpayer? Because the reporters don't understand
(19:27):
the more sophisticated and complicated levels of what.
Speaker 1 (19:31):
The tax needs of your clients are.
Speaker 2 (19:33):
For those folks, what would you say, generally when they're
asking you, hey, how's that? How does this affect my
business or high net worth individuals, my estate, my family fund?
Speaker 1 (19:46):
What do you say to those people? What are the highlights?
Speaker 4 (19:51):
I tell them, you know, there's a lot of things
in this build that are beneficial especially for your business,
you know, with the most appreciate and thurn d expenditures
and other things. And there's also a new qualified small
business stock exclusion out there, so if you're a small
business owner c corporation, you can sell that at a
(20:15):
gain and not pay tax on the sale of that stock.
So there's a lot of really good things out there
for business owners, and so I just encourage them to
reach out to us as soon as they can. A
lot of times you'll have somebody that's running their business.
They're in the details of the day to day, and
then they come across this big transaction maybe they're going
(20:38):
to sell their business, and they go a certain bit
down the road and then they finally call us. But
you know, the sooner they can get us involved in
the transaction, you know, even if they're just thinking about it,
if they can call us and get us involved in that,
we can actually optimize the planning for them. So, you know,
(20:59):
the sooner we can get in there and help them,
you know, the more we can do. If you get
too far down the road, there's a lot of things
that are off the table as far as options.
Speaker 2 (21:09):
When folks come to you and it is too late
in the process for you to be able to help
the way you would want to. Are there a couple
of things that always pop up. You go, gosh, I
wish I'd been helping you five years or even two
years ago, that we could have done differently. The way
we structured your business, the way you fund this, or
where you fund or how much you fund.
Speaker 4 (21:33):
Yeah, i'd say, you know, with the growth of the business.
A lot of times it's from an estate perspective. You
want to have a lot of that appreciation pulled out
of your estate and in some sort of a planning vehicle,
like a trust or a family partnership or things like that,
so that when you do sell, you keep more of
(21:54):
the money that they make off the sale and don't
have to pay it to the US government.
Speaker 2 (22:02):
I read a lot of newsletters and bulletins and these
advisories and wellness and finance and a number of other things.
Speaker 1 (22:10):
And one of the things.
Speaker 2 (22:11):
That is constant throughout is the disposition of your estate
prior to the point that you retire or die, So
beginning to shed your assets and your estate earlier and
earlier to minimize the task consequences. And it's one of
those things that I don't think most people, the average person,
(22:33):
the average business owner, I don't think they think on
those terms. I think they rush to the finish line
of getting the business up and selling it and maximizing
the money. But you don't realize how much you lost
in the process by not beginning the shedding process earlier.
Speaker 4 (22:50):
Right, And you don't have to wait till you sell
to get rid of that extra value out.
Speaker 3 (22:57):
Of your estate.
Speaker 4 (22:58):
And you don't have to give up control either. There's
there's ways that we can structure things so that you
know you've made the planning and you've passed along a
lot of the value to your errors, but you still
retain control over the operations of the business. And that's
just one of the things that we can help out with.
Speaker 2 (23:19):
Leif Nixon, who's one of your partners who I work
with a lot. When I ask him for show prep,
he'll send me ideas and things. And I've asked him,
people don't want to be audited, and if you don't
want to be audited, what are some and he says, well,
the things that they're looking at hard is and top
(23:40):
tax Defenders, which is one of our show sponsors, which
you know This is all they do is dealing with
the IRS when people are under attack. Is there the
more ten ninety nines you have, they're going to look
hard at you and the number of people that you
have as ten to ninety nine that frankly should be
employees because now they're getting not getting their taxes. That's
where they're going to go after you, whether you're the
(24:02):
ten ninet nine employee or the employee or you see a.
Speaker 3 (24:04):
Lot of that.
Speaker 4 (24:07):
Yeah, we do, actually, and that's one of the key
points that the IRS tries to look for. You know,
every business has to submit W two's ten ninety nine s.
The IRIS gets a copy of that, and there's software
crunches the numbers and looks at things. If they see
a number that's out of whack compared to other businesses
(24:29):
of your size or in the same industry, then they're
going to pull that and they're going to take a
look at a closer.
Speaker 3 (24:37):
Look at that.
Speaker 2 (24:38):
It's interesting in the old days you talk about a
red flag that this or that was. I have friends
that they won't buy a private jet because that's the
red flag. But in the old days of red flag,
a human being had to catch it with AI today.
They send this thing through the system and they say,
our algorithm tells us that if you're doing this, this,
and this, you're likely cheating.
Speaker 3 (25:00):
Boy.
Speaker 1 (25:00):
They it is.
Speaker 2 (25:01):
Easy to flag you and narrow that down. Aaron McPhee
de Roche Partners, thank you for being with us, my man.
Speaker 3 (25:08):
You bet enjoyed it.
Speaker 1 (25:10):
Don't mess around with This is the Michael Barrishaw. I'm
Lacey Able.
Speaker 2 (25:21):
Who got rich off of being a candidate for public
office in Georgia even though she lost, and then she
got money from the government for this sort of non
profit entity things she had. There are accounts that it
(25:42):
is as much as over two billion dollars. This is crazy.
She served as this sort of black woman token candidate
for a state wide office. All the money in the
world poor in mostly by white liberals, and we're being
(26:04):
told constantly that this is we need, we need women
of color in leadership.
Speaker 1 (26:10):
In every single one of them.
Speaker 2 (26:14):
Is the combination between stupid, incompetent and a crook, and
you end up with some of these. Look at Karen
Bass and mayor of Los Angeles. She is that dangerous
combination between really dumb and really really corrupt. And you
(26:38):
see what happens as a result. You got the guy
in Chicago who could have thought that you could be
worse than beetlejuice, and he is, and the stuff he says,
I mean, it's it's crazy, Muriel Bowser. You get you
get these mayors in in Philly and in Atlanta and
(27:00):
and Baltimore and Detroit, Chicago and New York and LA
and New Orleans. And they are black now black women,
that's the big thing. And they can't stream together a
sentence and they're screeching all the time, just just loud
(27:27):
and disorganized, and it's it's like this game. You end up,
you know, they end up having a tragedy in their community,
and you end up finding out the fire chief is
some left handed lesbian missing her left foot, who dropped
out of high school too lord knows what, and has
(27:50):
never worn a fire department uniform. Oh but she's a
left handed lesbian first mayor to qualify under all of
this stuff. And you just see that cities are collapsing,
I mean absolutely collapsing. It's like somebody's going in and
(28:12):
cutting the rafters. I had a classmate in college named
Mark McKillop, and Mark was older than the rest of
us because he had been a New York firefighter I
think NYPDA, and he went into a fire and the
owner had clipped the rafters so that when the fire started,
(28:39):
the roof would collapse and he'd have one hundred percent loss.
There are various versions of lightning that this is referred
to as different groups of people depending on who somebody
doesn't like. But the point is insurance fraud through arson
is not so uncommon, and the firefighters didn't know when
(29:04):
they train the fire has been burning for this amount
of time, there should be this amount of time for
the roof before it collapses, and my buddy Mark McKillop
had no idea that the rafters had been cut to
maximize damage. So the roof falls on and breaks his back.
He uses the settlement he got from the NYPD as
(29:27):
pretty good. I mean, NYFD has a pretty good program
for all this, and so he's going to get whatever
it is, forty fifty thousand dollars for the rest of
his life. And he decides, well, it's a lot cheaper
down in Texas. I want to start anew I want
to go finish my college degree, and so he did,
came to City of Houston, went to the University of Houston,
(29:50):
and we had a really good newspaper there. I worked
there selling ads my first year of college. It's called
The Daily Cougar. I don't know if it's any good anymore,
but back then it was wonderful. And he was the
lead columnist. And I'm going to tell you something I
grew up. Some of you probably did as well. Uh
did you read a columnist?
Speaker 1 (30:09):
Growing up?
Speaker 2 (30:11):
I read Mike Royko and Stories of the Billy Goat
Tavern in Chicago, and I thought Mike Royko was a
start and finish. I would read Royko, I would read
William F. Buckley, I would read Deer Abbey, I would
read Anne Landers, Uh Lake Willbegun Days, Garrison Keeler. Anyway,
(30:41):
Mark McKillop was in this line of writers. I don't
know why he stopped writing. He was fantastic had I'd
be in peels of laughter every week when his column
would come out. It was like this professional superstar columnist,
but in the local, but in the in the community paper.
Speaker 1 (30:59):
Anyway.
Speaker 2 (31:00):
I brought all that up to tell the story about
damage was maximized, which is why he ends up breaking
his back despite his training of what we were doing there, Jim,
what was I talking about that I got off on
that maximized Oh oh, these elected officials. So these Stacey
(31:21):
Abrams type people, they just keep Lena Hidalgo's one of these.
They just keep putting them out there. And I get
emails every day for people who say, Michael, I just
can't believe this person said this.
Speaker 1 (31:37):
And it's aoc or ilhano Omara.
Speaker 2 (31:41):
I am more bothered by that statement than I am
the stupid statement that has upset the person. The people
who say, well, Texas got what they wanted, that Texas
got what they deserve. Those little white girls, the people
who say evil things like that, I hate that. But
(32:03):
I spend more sleepless time worrying about the emails I
get from people who say, how can they say that?
I just wonder when a family gets taken over by
(32:23):
the cartels and they're being executed one by one, how
far into the process someone says, they really don't seem
like they're really nice people. I don't think they're here
to help us clean the house up. I guess none
of us are doing our job. Maybe we screech too much.
(32:44):
Maybe it's chicken little. Maybe there's too much noise, maybe
people are numb to it. If I could just get
people to understand, you don't have an honest disagreement with
Stacy Abrams. You don't have an honest disagreement UH with
with h.
Speaker 1 (33:06):
Who is a Buddha gig.
Speaker 2 (33:10):
Or uh Barack Obama or Sheila Jackson Lee or that
Democrat in the office that you.
Speaker 1 (33:17):
Kind of halfway like. You don't have an honest disagreement
with this.
Speaker 2 (33:23):
They will have you believe that because that keeps you
coming back from more, that keeps you from firing them,
that keeps you from from boycotting them, that keeps you
from You're gonna have to understand these people are much
less things US has left.
Speaker 1 (33:38):
Thank you, I mean, good night,
It's that time time time time. There's Luck and Load
from Michael Varry Show is on the air. It's Charlie
from BlackBerry Smoke. I can feel a good one coming on.
(00:24):
It's the Michael Berry Show.
Speaker 2 (00:26):
In that build. It came out of the House and
the Senate Center, and then it's to be worked out
between the two, the reconciliation process it's called because they're
different bills, because there's a lot of haggling.
Speaker 1 (00:37):
It goes on behind the scenes.
Speaker 3 (00:40):
It was.
Speaker 2 (00:43):
At Trump's direction, and he still has control over the
Republicans in the House in the Senate, at least enough
control to get what he wants done, which is why
the day before July fourth, as we expect, did at
the last minute a bill was passed. Passing a bill
at the last minute also gives a congressman some cover
(01:07):
when they do that which their district doesn't want them
to do, because they say, well, it was the last minute,
we had to do it. I didn't want to do it.
If I'd had more time, I would have done this,
this or this. But that bill passing it was important
to Trump to get enough of what he wanted that
he understood by strategy. This is his second term not
(01:29):
his first, makes a big difference. He understood he needed
everything in what we used to call an omnibus bill.
You've got to get everything into one bill, because if
you start trying to get one thing here and one
thing there, you.
Speaker 1 (01:44):
Will get picked apart.
Speaker 2 (01:46):
So in order to get what Bob wants, you get
Bob to vote for something that Sam wants. And in
order to get Jane what she wants, she has to
vote for what Bob and Sam want, even though those
are two things she wouldn't otherwise vote for. That's how
you get a good deal. You have to give enough
people enough things. That's how they got Lisa Murkowski from
(02:07):
Alaska to vote for this, which they desperately needed, is
they gave her some goodies for Alaska at the last
minute to cut a.
Speaker 1 (02:15):
Deal, and of course she did.
Speaker 2 (02:17):
We haven't really talked about what's in it, but it's
going to have a huge impact on every single person
that files taxes, I mean, just the reality. The good
news is, I don't think it's going to be a
huge change for most people. There are some things funded
in the build, like ice at a level we've never seen,
(02:38):
more than I think all militaries except for two. But
I wanted to talk about how this affects you and
your businesses. So I have talked to my CPAs at
DeRose Partners throughout this process, and I've been tracking with
them various elements in there, not so much as it
affects me, but as it affects business owners and medium
(03:00):
sized business owners out there where this is going to
hit the most. I have asked Aaron McPhee with de
Rose Partners to join us, and he's our guest.
Speaker 1 (03:09):
Welcome, Hey Michael, how are you good?
Speaker 2 (03:13):
So, Aaron, my understanding is, and that's from a lot
of cursory reading. I did go to the Tax Foundation
this morning and look at their final kind of cut,
at this swipe, at this, and my understanding is, you
would say, to most middle income earners and small business
owners by and large, there's nothing dramatic in this bill.
Speaker 1 (03:37):
Can we start with that?
Speaker 4 (03:40):
Yeah, I'd agree. You know, a lot of this is
aimed at middle income. You know, it's extending a lot
of the things that happened in twenty seventeen that we
have been following for the last number of years, and
so not a whole lot of changes, a lot of
it's being extended and most time through twenty twenty nine.
Speaker 2 (04:00):
And that's important for people to understand because what many
did not I think what many did not realize is
the tax cuts that Trump put into place in twenty seventeen.
We're both very popular and very effective. They spurred an
economy that in January of twenty twenty we were really
seeing accelerated and on fire. Those tax cuts were set
(04:24):
to expire. So the big victory of the One Big
Beautiful Bill was to extend those tax cuts. That's hard
for people to get excited about, but realizing what you
were about to lose is and maybe I think Republicans
didn't do a good job of explaining that.
Speaker 3 (04:41):
Right.
Speaker 4 (04:41):
That is correct. You know, tax rates were about to
go back up. You know, the highest rate was a
thirty seven point six percent, so keeping it at thirty
five at.
Speaker 3 (04:52):
The top rate.
Speaker 4 (04:53):
Also, all the lower rates are staying where they are,
So that's going to have a big impact I think
on individuals versus what could have happened.
Speaker 2 (05:03):
Let's talk about some of those provisions and how you
expect to guide your business owner clients and high net
worth individual clients.
Speaker 1 (05:11):
Aaron McPhee is our guest.
Speaker 2 (05:14):
We start with the estate planning, and that's sort of
one of the things I read from folks who have
reviewed this that I respect, who are more tax scholars
and tax experts in talking to you folks, is that
the good news is this provides a degree of stability.
But when we talk about folks planning their estate and
what they're going to pass to their kids, talk a
(05:35):
little bit about the minor change in that.
Speaker 4 (05:40):
Yeah, So they essentially set the estate threshold, your lifetime
exemption that you get where it currently is, and they
indexed it to inflation, whereas it was set to revert
back to twenty seventeen thresholds. Of course, time value money
(06:00):
things are more expensive now, you know, it didn't make
sense to go back to that threshold. So they decided
to go ahead and bump it back to where it
was and keep it at a permanent level there.
Speaker 2 (06:12):
When you look, let me ask you a more open
ended question, and I guess we'll have to wait until no.
Speaker 1 (06:20):
I got time.
Speaker 2 (06:22):
If you're calling a business owner of a mid sized
business or a high net worth end of it, let's
start with a mid sized business and you say, here's
one thing in this bill that I think you're really
going to like, what would that be?
Speaker 4 (06:35):
I think the bonus appreciation going back to one hundred
percent is huge for business owners. That's probably the key
thing I would think that they'd be interested in because
it was set to be at forty percent for twenty
twenty five. So you spend a dollar today, you don't
get to deduct all of it in the year that
you spend the money. You have to spread it out
(06:56):
over a number of years, and so back that bonus
appreciation is key.
Speaker 2 (07:03):
I think it also should spur a lot of economic
activity because everybody's looking at the hero let right absolutely,
and that's the sort of thing that matters. We talk
a lot about the salt cap, the state and local
tax deduction, and that has a lot to do with
high tax states like California and low tax states like
(07:24):
Florida and Texas.
Speaker 1 (07:26):
Where does that end up.
Speaker 4 (07:29):
Yeah, So they have raised the cap up to forty
thousand dollars and it is index for inflation, and there
are caps and face downs for higher income individuals.
Speaker 3 (07:40):
So what that means is more.
Speaker 4 (07:42):
Texans are going to be able to deduct their full
property tax that they pay each year, which is a
big help, I think because most of the property taxes
were capped at the ten thousand dollars level, and so
now they've got a little bit more breathing room to
be able to take that deduction.
Speaker 2 (07:58):
I want to come back with just one moment. I
want to come back to that issue and what that
looks like dollars and cents, and we'll create a brisk
hypothetical Aaron McPhee with Deroch Partners as our guests, more
on the one Big Beautiful tax Bill coming up on.
Speaker 1 (08:16):
The Michael Verie Show.
Speaker 2 (08:20):
Several years ago, I set about trying to create a
one stop shop for our listeners for financial services of
various types. But I wanted to get the right folks
with the right or competence, the right heart for it,
(08:40):
who were fans of the show, so they would understand
our values and they would understand the kind of people
we were sending them. And that meant somebody to handle
estate planning, meant someone to handle financial planning. Estate planning
we do Christine Weaver financial planning, Steve Old, my friend,
Martin Lopez and John and Andy McGee and credit card processing,
(09:02):
and I wanted all of that under one roof, and
I wanted someone who could handle the tax strategy, not
just a CPA, but could handle the CPA portion, but
a tax strategy. One of the things I've noted over
the years is that when I start asking questions off
air that I would never ask on air, you know
(09:26):
what's the plan when you sell? How strategic are you
in not only complying with tax laws but aggressively finding
ways to cut costs, to cut taxes, to look for
ways that tax laws will guide you to make more
money if you simply do something that would be very
(09:48):
natural to your business anyway. So Deroche Partners was the
partner we chose. Aaron McPhee is one of the partners there.
He is our guest, to be clear, the person who
did taxes for thirty years, my dear friend, Bob ful mcgauley.
He is a wonderful guy. Our business got bigger and
(10:09):
I wanted a partner who could handle that and who
could handle a lot of our clients. And he tends
to do more individual returns. So I still send people
if you just have a basic income tax return, I
still send them there. For our folks who run businesses
or who are high net worth individuals. Our partner for
(10:30):
that is to Roche Partners, that's their expertise. It would
be overkilled for them to handle the average plant worker.
I wouldn't tell you to do that, but we have
a lot of folks out there that run businesses that
are growing or that they're looking to sell, and to
partners is for that. I say all that just so
you you understand where I am in all this. Aaron
(10:51):
mcphe is our guest to Roach partners erin I'm just
going to read you a couple of headlines. When you
google small business owner and small business you know it's
it's it's one of those things like the middle class.
There are a lot of people who consider themselves a
small business owner, and they're way bigger than.
Speaker 1 (11:05):
A small business owner.
Speaker 2 (11:07):
The SBA makes loans to folks that aren't really a
small business owner. But how businesses and manufacturers will benefit
from OBB here's who stands to gain. Let me see,
Senate's Big Beautiful Bill is a disaster for small business.
One Big Beautiful Bill simplified permanent relief for small businesses.
When you are kind of passing judgment on the one
(11:28):
Big Beautiful Bill, as relates to small business owners. Let's
forget what it does to the deficit. Let's forget what
it does to everything else, even the individual tax payer.
Let's talk about the small business owner and does he
win or lose from this, and how.
Speaker 3 (11:46):
I think he wins.
Speaker 4 (11:47):
There's several key aspects in the bill that are very
promising for small business owners. A lot of these things
are phased out once you get into the larger revenue thresholds,
but some of the big ones is the qualified business
income pass through deduction. They increase that to twenty three
percent to kind of help level the playing field with
(12:11):
C corporations, which are using your big corporations. And they
also allowed for the immediate expensing of research and I
guess design costs, which you had to capitalize and spread
those costs over five years. You know, I think they
would want to I guess reward any I guess innovation
(12:34):
that's out there, and so by allowing this full expensing
whenever you incur the cost really helps that.
Speaker 3 (12:42):
I think.
Speaker 2 (12:45):
There is also a lot of reference to R and
D search and development.
Speaker 1 (12:51):
How does this affect that?
Speaker 4 (12:55):
So as part of the original twenty seventeen tax law,
in twenty twenty two companies that were doing research and
development had to capitalize or they had to basically not
deduct those costs, and they had to spread that cost
(13:15):
over five years. And so by changing this piece of
the bill, they were able to allow immediate deduction for
any costs that are incurred for research and development purposes,
and those have to be domestic research and development costs.
Any foreign R and D that's performed has to be
(13:37):
spread over fifteen years.
Speaker 1 (13:41):
Oh sorry, I had my Michael again.
Speaker 2 (13:43):
That's consistent with Trump's approach the tariffs and a lot
of these things are to encourage American manufacturing, to encourage
things on American soil, and that's now baked into into
the tax policy. Is there anything about the one big
Beautiful bill that you know tax policy tends to encourage
(14:04):
and discourage behaviors. Are there things you expect to see
start or stop as behaviors by businesses as a result
of this bill.
Speaker 4 (14:17):
I think one of the surprising things was the new
floor that's on charitable contributions for itemized.
Speaker 1 (14:23):
Yeah, doctor, I saw that.
Speaker 4 (14:25):
That's that was I think a revenue raisor that they
had to put in there to kind of balance things out.
So essentially, half a percent of your income is your threshold.
Once you get above that you can deduct your charity,
and anything below that carries forward. But I thought that
(14:46):
was kind of an interesting thing in there.
Speaker 2 (14:49):
I did too, and I was following the bill as
it was going through, and I was in d C.
So I was meeting with DC folks and we were
talking about what was in the bill and what's being
bad over and what may or may not pass and
what I didn't see coming. And to state that again, folks,
one half of one percent of your income, So if
(15:11):
you make one hundred thousand dollars, five hundred dollars would
be the floor. If you give less than that, correct
me if I'm wrong, Aaron. If you give less than that,
you cannot deduct your charitable contribution, right.
Speaker 3 (15:27):
That's correct.
Speaker 4 (15:27):
If you're an itemizer, there is an above the line
deduction for charity, which I think leases around two thousand dollars. So,
but yeah, anything on your itemized deductions, if you're below
that threshold, you can't deduct it and you have to
carry it forward to a future year.
Speaker 1 (15:44):
I want to talk about that in a moment, Aaron.
Speaker 2 (15:46):
I read on the itemizers that with this standard deduction,
they have reduced and I'm going to get the number wrong,
but I want to say from forty down to thirty
and now only ten percent of filers itemized.
Speaker 1 (16:02):
Does that sound right? People have really gotten away from that.
Speaker 4 (16:05):
Yeah, that definitely could be because the standard deduction is
so high, especially for married couples filing jointly.
Speaker 1 (16:14):
All right, hold with me for just a moment.
Speaker 2 (16:15):
Aaron McPhee is our guest Droche Partner CPA Strategy.
Speaker 1 (16:18):
Start here.
Speaker 2 (16:19):
Our country is telling you today invest in clinics, ladies
and gentlemen. And this is the Michael Barry Show.
Speaker 1 (16:33):
Is a guest.
Speaker 2 (16:34):
He is a partner at Droch Partners, a tax strategy
firm which is sort of like CPA's on steroids or
businesses and high net worth individuals. Unlike the average person
who simply files a tax return, there are a lot
of implications to profitability. There are a lot of implications
(16:56):
to whether to hire people, how to classify those folks,
where to spend your money, when to spend your money,
to maximize the tax advantages or reduce the overall tax consequences,
and run your business wisely. And every business should do that.
You know, Donald Trump made that statement and Dave Chappelle.
(17:18):
One of my favorite Dave Chappelle bits is he said,
I knew Trump was going to win when Hillary Clinton
said Donald Trump hasn't been paying taxes and he is
there for evil. And he said, that's true. And you
wrote those laws and you chose not to change those
laws because all your rich friends wouldn't let you, So
(17:39):
you're disingenuous.
Speaker 1 (17:40):
And I think that was one of those moments.
Speaker 2 (17:41):
As Chappelle said, where people began to understand, you have
to be very wise about the law on the books,
and you need strategists behind you to help you do
that because you're not reading this boring language, I assure you.
Speaker 1 (17:55):
Aaron mcpheeeder Roast Partners, is.
Speaker 2 (17:57):
Our guests eron one of the things I read with
there's one hundred percent deduction for private school vouchers. And again,
it's unfair to ask you about this little little tedious stuff.
Is that something that's popped up on your screen.
Speaker 3 (18:14):
I haven't dug that far into the bill yet.
Speaker 1 (18:16):
Yeah, that happened to be a private don't worry.
Speaker 2 (18:19):
I also saw that the five twenty nine expenditure restrictions
have been loosened so that it's not just for your
kids education, but it's also things related to education, private tuition,
and things like that. That expands the use of that fund.
And I don't know if that's made it on your
(18:39):
it's not a small business advisory.
Speaker 3 (18:42):
Yeah, yeah, yeah.
Speaker 4 (18:43):
They've expanded the coverage to include K through twelve and
some post secondary expenses, and there are higher annual contribution limits.
Speaker 3 (18:54):
So that's definitely I think a benefit to.
Speaker 4 (19:00):
Parents trying to figure out how they're going to pay
for the high cost of education.
Speaker 2 (19:05):
Your value added in partner Partner's value added is that
what most people who run a business on a larger
scale are reading in the news is how does the
tax affect the average taxpayer? Because the reporters don't understand
(19:27):
the more sophisticated and complicated levels of what.
Speaker 1 (19:31):
The tax needs of your clients are.
Speaker 2 (19:33):
For those folks, what would you say, generally when they're
asking you, hey, how's that? How does this affect my
business or high net worth individuals, my estate, my family fund?
Speaker 1 (19:46):
What do you say to those people? What are the highlights?
Speaker 4 (19:51):
I tell them, you know, there's a lot of things
in this build that are beneficial especially for your business,
you know, with the most appreciate and thurn d expenditures
and other things. And there's also a new qualified small
business stock exclusion out there, so if you're a small
business owner c corporation, you can sell that at a
(20:15):
gain and not pay tax on the sale of that stock.
So there's a lot of really good things out there
for business owners, and so I just encourage them to
reach out to us as soon as they can. A
lot of times you'll have somebody that's running their business.
They're in the details of the day to day, and
then they come across this big transaction maybe they're going
(20:38):
to sell their business, and they go a certain bit
down the road and then they finally call us. But
you know, the sooner they can get us involved in
the transaction, you know, even if they're just thinking about it,
if they can call us and get us involved in that,
we can actually optimize the planning for them. So, you know,
(20:59):
the sooner we can get in there and help them,
you know, the more we can do. If you get
too far down the road, there's a lot of things
that are off the table as far as options.
Speaker 2 (21:09):
When folks come to you and it is too late
in the process for you to be able to help
the way you would want to. Are there a couple
of things that always pop up. You go, gosh, I
wish I'd been helping you five years or even two
years ago, that we could have done differently. The way
we structured your business, the way you fund this, or
where you fund or how much you fund.
Speaker 4 (21:33):
Yeah, i'd say, you know, with the growth of the business.
A lot of times it's from an estate perspective. You
want to have a lot of that appreciation pulled out
of your estate and in some sort of a planning vehicle,
like a trust or a family partnership or things like that,
so that when you do sell, you keep more of
(21:54):
the money that they make off the sale and don't
have to pay it to the US government.
Speaker 2 (22:02):
I read a lot of newsletters and bulletins and these
advisories and wellness and finance and a number of other things.
Speaker 1 (22:10):
And one of the things.
Speaker 2 (22:11):
That is constant throughout is the disposition of your estate
prior to the point that you retire or die, So
beginning to shed your assets and your estate earlier and
earlier to minimize the task consequences. And it's one of
those things that I don't think most people, the average person,
(22:33):
the average business owner, I don't think they think on
those terms. I think they rush to the finish line
of getting the business up and selling it and maximizing
the money. But you don't realize how much you lost
in the process by not beginning the shedding process earlier.
Speaker 4 (22:50):
Right, And you don't have to wait till you sell
to get rid of that extra value out.
Speaker 3 (22:57):
Of your estate.
Speaker 4 (22:58):
And you don't have to give up control either. There's
there's ways that we can structure things so that you
know you've made the planning and you've passed along a
lot of the value to your errors, but you still
retain control over the operations of the business. And that's
just one of the things that we can help out with.
Speaker 2 (23:19):
Leif Nixon, who's one of your partners who I work
with a lot. When I ask him for show prep,
he'll send me ideas and things. And I've asked him,
people don't want to be audited, and if you don't
want to be audited, what are some and he says, well,
the things that they're looking at hard is and top
(23:40):
tax Defenders, which is one of our show sponsors, which
you know This is all they do is dealing with
the IRS when people are under attack. Is there the
more ten ninety nines you have, they're going to look
hard at you and the number of people that you
have as ten to ninety nine that frankly should be
employees because now they're getting not getting their taxes. That's
where they're going to go after you, whether you're the
(24:02):
ten ninet nine employee or the employee or you see a.
Speaker 3 (24:04):
Lot of that.
Speaker 4 (24:07):
Yeah, we do, actually, and that's one of the key
points that the IRS tries to look for. You know,
every business has to submit W two's ten ninety nine s.
The IRIS gets a copy of that, and there's software
crunches the numbers and looks at things. If they see
a number that's out of whack compared to other businesses
(24:29):
of your size or in the same industry, then they're
going to pull that and they're going to take a
look at a closer.
Speaker 3 (24:37):
Look at that.
Speaker 2 (24:38):
It's interesting in the old days you talk about a
red flag that this or that was. I have friends
that they won't buy a private jet because that's the
red flag. But in the old days of red flag,
a human being had to catch it with AI today.
They send this thing through the system and they say,
our algorithm tells us that if you're doing this, this,
and this, you're likely cheating.
Speaker 3 (25:00):
Boy.
Speaker 1 (25:00):
They it is.
Speaker 2 (25:01):
Easy to flag you and narrow that down. Aaron McPhee
de Roche Partners, thank you for being with us, my man.
Speaker 3 (25:08):
You bet enjoyed it.
Speaker 1 (25:10):
Don't mess around with This is the Michael Barrishaw. I'm
Lacey Able.
Speaker 2 (25:21):
Who got rich off of being a candidate for public
office in Georgia even though she lost, and then she
got money from the government for this sort of non
profit entity things she had. There are accounts that it
(25:42):
is as much as over two billion dollars. This is crazy.
She served as this sort of black woman token candidate
for a state wide office. All the money in the
world poor in mostly by white liberals, and we're being
(26:04):
told constantly that this is we need, we need women
of color in leadership.
Speaker 1 (26:10):
In every single one of them.
Speaker 2 (26:14):
Is the combination between stupid, incompetent and a crook, and
you end up with some of these. Look at Karen
Bass and mayor of Los Angeles. She is that dangerous
combination between really dumb and really really corrupt. And you
(26:38):
see what happens as a result. You got the guy
in Chicago who could have thought that you could be
worse than beetlejuice, and he is, and the stuff he says,
I mean, it's it's crazy, Muriel Bowser. You get you
get these mayors in in Philly and in Atlanta and
(27:00):
and Baltimore and Detroit, Chicago and New York and LA
and New Orleans. And they are black now black women,
that's the big thing. And they can't stream together a
sentence and they're screeching all the time, just just loud
(27:27):
and disorganized, and it's it's like this game. You end up,
you know, they end up having a tragedy in their community,
and you end up finding out the fire chief is
some left handed lesbian missing her left foot, who dropped
out of high school too lord knows what, and has
(27:50):
never worn a fire department uniform. Oh but she's a
left handed lesbian first mayor to qualify under all of
this stuff. And you just see that cities are collapsing,
I mean absolutely collapsing. It's like somebody's going in and
(28:12):
cutting the rafters. I had a classmate in college named
Mark McKillop, and Mark was older than the rest of
us because he had been a New York firefighter I
think NYPDA, and he went into a fire and the
owner had clipped the rafters so that when the fire started,
(28:39):
the roof would collapse and he'd have one hundred percent loss.
There are various versions of lightning that this is referred
to as different groups of people depending on who somebody
doesn't like. But the point is insurance fraud through arson
is not so uncommon, and the firefighters didn't know when
(29:04):
they train the fire has been burning for this amount
of time, there should be this amount of time for
the roof before it collapses, and my buddy Mark McKillop
had no idea that the rafters had been cut to
maximize damage. So the roof falls on and breaks his back.
He uses the settlement he got from the NYPD as
(29:27):
pretty good. I mean, NYFD has a pretty good program
for all this, and so he's going to get whatever
it is, forty fifty thousand dollars for the rest of
his life. And he decides, well, it's a lot cheaper
down in Texas. I want to start anew I want
to go finish my college degree, and so he did,
came to City of Houston, went to the University of Houston,
(29:50):
and we had a really good newspaper there. I worked
there selling ads my first year of college. It's called
The Daily Cougar. I don't know if it's any good anymore,
but back then it was wonderful. And he was the
lead columnist. And I'm going to tell you something I
grew up. Some of you probably did as well. Uh
did you read a columnist?
Speaker 1 (30:09):
Growing up?
Speaker 2 (30:11):
I read Mike Royko and Stories of the Billy Goat
Tavern in Chicago, and I thought Mike Royko was a
start and finish. I would read Royko, I would read
William F. Buckley, I would read Deer Abbey, I would
read Anne Landers, Uh Lake Willbegun Days, Garrison Keeler. Anyway,
(30:41):
Mark McKillop was in this line of writers. I don't
know why he stopped writing. He was fantastic had I'd
be in peels of laughter every week when his column
would come out. It was like this professional superstar columnist,
but in the local, but in the in the community paper.
Speaker 1 (30:59):
Anyway.
Speaker 2 (31:00):
I brought all that up to tell the story about
damage was maximized, which is why he ends up breaking
his back despite his training of what we were doing there, Jim,
what was I talking about that I got off on
that maximized Oh oh, these elected officials. So these Stacey
(31:21):
Abrams type people, they just keep Lena Hidalgo's one of these.
They just keep putting them out there. And I get
emails every day for people who say, Michael, I just
can't believe this person said this.
Speaker 1 (31:37):
And it's aoc or ilhano Omara.
Speaker 2 (31:41):
I am more bothered by that statement than I am
the stupid statement that has upset the person. The people
who say, well, Texas got what they wanted, that Texas
got what they deserve. Those little white girls, the people
who say evil things like that, I hate that. But
(32:03):
I spend more sleepless time worrying about the emails I
get from people who say, how can they say that?
I just wonder when a family gets taken over by
(32:23):
the cartels and they're being executed one by one, how
far into the process someone says, they really don't seem
like they're really nice people. I don't think they're here
to help us clean the house up. I guess none
of us are doing our job. Maybe we screech too much.
(32:44):
Maybe it's chicken little. Maybe there's too much noise, maybe
people are numb to it. If I could just get
people to understand, you don't have an honest disagreement with
Stacy Abrams. You don't have an honest disagreement UH with
with h.
Speaker 1 (33:06):
Who is a Buddha gig.
Speaker 2 (33:10):
Or uh Barack Obama or Sheila Jackson Lee or that
Democrat in the office that you.
Speaker 1 (33:17):
Kind of halfway like. You don't have an honest disagreement
with this.
Speaker 2 (33:23):
They will have you believe that because that keeps you
coming back from more, that keeps you from firing them,
that keeps you from from boycotting them, that keeps you
from You're gonna have to understand these people are much
less things US has left.
Speaker 1 (33:38):
Thank you, I mean, good night,
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
Las Culturistas with Matt Rogers and Bowen Yang
Ding dong! Join your culture consultants, Matt Rogers and Bowen Yang, on an unforgettable journey into the beating heart of CULTURE. Alongside sizzling special guests, they GET INTO the hottest pop-culture moments of the day and the formative cultural experiences that turned them into Culturistas. Produced by the Big Money Players Network and iHeartRadio.