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September 19, 2024 12 mins
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Speaker 1 (00:02):
Channel Line says a sunny day to day high and
ninety over night clear in sixty four, Sunday Tomorrow high
of ninety over ninety, few clouds in sixty three, and
on Sunday it's or Saturday rather a sunny day high
of ninety three sixty three degrees. Right now, time for
a traffic upbeat.

Speaker 2 (00:18):
From the UC how Trimthic Center. The University of Cincinnati
Cancer Center is open, the most comprehensive blood cancer center
in the nation. The future of cancer care is here
called five one three five eighty five u c see.
Northbound seventy five continues to run close to an extra
twenty minutes between Burlington Pike and the Cut in the
Hill northbound fourth seventy one that the lay times dropped

(00:39):
under the fifteen minute mark from before Grand into the city.
Southbound seventy five continues slow through walkland. Chuck Ingram on
fifty five krc the talk station.

Speaker 1 (00:51):
A thirty here fifty five KRCD talk station, that little
bumber music saddens me because, in spite of the fact
that I'm pleased at Phil Kirpin from American Commitment on
the program, I heard media aviation expert Jay Radliffe is
not here because his father passed away. Again. Prayers to
Jay Ratliffe and his family. American Commitment dedicated to restoring
protecting American commitment to free markets, economic growth, constitutionally limited government,

(01:13):
property rights, and individual freedom. Amazing concepts those which are
fast eroding. It's led by Phil Kirpin, who is a
leading free market policy analyst and advocate in Washington. Before
his involvement with the American Commitment, he worked with a
group we were talking to earlier, Americans for Prosperity, was
there for more than five years. Also he was with
the Free Enterprise Fund, Club for Growth, among other things.

(01:34):
Welcome back to the fifty five Carese Morning Show, Phil Kirpin,
any my pleasure again. It's Americancommitment dot org for my listeners.
Want to strongly recommend that they check out your information there.
Let's talk about the interest rate. They did lower it
half a point yesterday. Since you deal so much with
the economy and matters economic related, what is your reaction

(01:59):
to it? Was it necessary to I know most people
are going to say great the interest rates lower, but
what impact do you think it's going to have? And
was it necessary to lower the rate.

Speaker 3 (02:11):
Well, I think that it was probably time. I probably
would have just done a twenty five.

Speaker 4 (02:18):
Basis point, not the fifty basis point.

Speaker 3 (02:20):
And they're forecasting two more cuts this year now they
sort of telegraphed and additional cuts next year. I mean,
the inflation outlook has improved pretty significantly, and there's.

Speaker 4 (02:31):
A lot of economic weakness and the fundamentals, and.

Speaker 3 (02:34):
So the case for cutting was pretty good right now.
The reason I think they may be being too aggressive though,
is there are still some mixed signals on inflation. In particular,
the gold price is very high in rising and I'm
very concerned about the lack of discipline on the fiscal
side of spending. That they're going to do another massive
onto the spending, though most likely later this year. They

(02:55):
can't seem to break their habit of doing that almost
every single year, and especially depending on the outcome of
the election. I mean, we've got Kamala Harris has endorsed
Biden budget that spends seven trillion dollars. I mean, if
something like the only thing that's rending that from happening
now is that you get a Republican House that's sort
of giving a little bit of gridlock that's flowing some
of those ambitions, but you know, we get democratic control

(03:18):
of everything, and they're also the races I'm spending.

Speaker 4 (03:20):
Again, Inflation is going to shoot back up.

Speaker 3 (03:21):
There'll be a lot like what happened in the seventies,
where you know, we had one episode that came down
and we had an even bigger episode, kind of back
to back, and so there are risks in both directions.
But I do think that some cut it was probably
time because the economy softening and we want to maintain
economic growth. We don't want to go into a recession,

(03:44):
and the inflation measures for the moment have been pretty
muted with the exception of that gold price. So I
would have cut a quarter point myself. I think they're cutting,
probably more aggressively than the data would dictate, because I
think they want to get a more of a short
term boosts the economy, because they probably favor the Democrats
because Trumpet said he would fire j.

Speaker 4 (04:05):
Powell. So that's my take.

Speaker 3 (04:07):
I would have cut, but not as much as they did.

Speaker 1 (04:10):
What's your reaction and probably low hanging fruit for you,
Phil Curvin, but your reaction to Kamala Harris's proposal to
tax unrealized capital gains. I think that would ultimately be
found to be unconstitutional. But what is your take? What
would the real what would the how would the market react,
and what impact would it have on the American economy
if she got what she wanted.

Speaker 3 (04:32):
Well, let's think about this, right If if all of
these big holders and they say, oh, it's only for
the one hundred millionaires or it's only for the billionaires.

Speaker 4 (04:43):
I think the proposal is it's over one.

Speaker 3 (04:45):
Hundred million a network something like that, and you say, oh, well,
it's only super rich. They want to say, oh, it's
only super rich, you don't need to worry about it.
But those are the people that hold massive amount of
shares and all the most successful companies in the country,
the founders, the early investors and so. And if you
tell them you've now got a huge tax building you
have to pay whether you sell your stock or not,

(05:06):
they either need to take out huge loans to not
sell their stocks and pay the tax are more likely.
What will happen is you'll have a selloff. And that
means everybody who's in all of these companies is going
to suffer the consequence of you know, that sell off
and they're gonna lose value. Also, I think it's completely unworkable.
And of course, you know, the other aspect of this
is every tax starts only on.

Speaker 4 (05:28):
The super wretch, and the income came in was only
on the.

Speaker 3 (05:31):
Super wretch, and then of course it starts to creep
down over time. And you know, so when people say,
oh my god, this is terrible, they're gonna end up
having basically a federal property tax on my house when
the value goes up. And then then you know, the
fact checkers say.

Speaker 4 (05:44):
Oh, no, no, no, this is only for super rich.

Speaker 3 (05:47):
I think the normal people that are worried about this,
they're smarter than the fact checkers telling them not to
worry about it, because if they get this in, they
will move it down the income chain over time.

Speaker 1 (05:56):
That's what we've happened without question. And I think oftentimes
people who are embrace this class warfare mentality, oh, they're
just the evil billionaires of the world. I think they
quite often forget who their employer is. It's those evil
rich people who make that much money are the ones
that create jobs and offer opportunities for folks and invest
that money that evil profit into businesses. And create even

(06:20):
more jobs. Without them, a lot of us wouldn't be working.

Speaker 3 (06:24):
Yeah, and just make our lives better in a lot
of ways. Like you know, especially you know you talk
about these tech billionaires. I mean, like you know why
the Google guys made billions of dollars because now you
can find literally any information you want in a second,
free of charge by going on their website. You know,
It's like, if we create an economic system where we
don't reward creating things.

Speaker 4 (06:45):
And venting things, making new things, making.

Speaker 3 (06:46):
People's lives better, we're going to get less of all
of that, and we're gonna have, you know, worse lives
as a result of that.

Speaker 1 (06:53):
Okay, before we part company, feel curbent American commitment. Energy
prices are gone through the roof. I know locally, Duke
Energy was seeking a rate hike. We've already experienced a
thirty percent increase over a year. It looks like it's
going to continue to go up. This is the direct
consequence of and I think the product of a sort
of a win for the left. I mean, you know,
I always go back to Barack Obama. The price of

(07:13):
gasoline will necessarily go up. That is not because of
market forces, that is because of legislation and regulation and
denying us access to an energy resource we need. This
is a high energy prices or a win for the left.
I mean, I can't look at it any other way.
Is there any solution to it? Can we go back
to when we didn't have such a heavily regulated, green

(07:35):
focused energy production.

Speaker 3 (07:40):
I sure hope so. And you know, the the amazing
thing about what the Democrats have done on energy is,
you know, like ninety percent of it was not done legislatively.
It was done through abusing regulatory towers of the various agencies.

Speaker 4 (07:51):
And that famous quote from Obama about how I'm going.

Speaker 3 (07:53):
To make your electricity prices necessarily skyrocket. He was talking
about his cap and trade legislation that he had proposed
to Congress, which passed the House barely even with a
huge Democrat majority, and then crashed and burn so hard
they never even voted on in the Senate. And if
our systems government were working the way it's supposed to,
they would said, oh, it didn't pass, I can't do it.
Instead he said, I have kind of phoned the EPA

(08:15):
is going to cap it instead.

Speaker 4 (08:16):
We're gonna do it.

Speaker 3 (08:16):
We're gonna have, you know, a million regulations to accomplish
all the same things, and Trump turns a lot of
those off, but Biden gets in, turns all of them
back on and then some We actually have regulatory costs
now in access of what we had under Obama, which
I thought he was there, gonna be the world champion forever.

Speaker 4 (08:31):
I didn't think his records could be beat and Biden
has beaten them.

Speaker 3 (08:34):
And of course now we've got this strange spectacle of
Kamala Harris claiming that she's gonna be totally different than
Biden and she's going to solve all our problems. But
she supports all the policies that have caused this situation,
particularly with respect to energy and the obsession with global
warming and the green energy stuff and anti oil and gas,
and you know, we are all seeing the consequence of

(08:58):
that in our electric bills. I'll add another part to
that also, which is the Democrats want to repeal the
Trump tax cuts, which means higher corporate taxes, which also
will directly mean higher utility builds because when we cut
the corporate tax, dot cut utility built.

Speaker 4 (09:12):
Because they did they passed those savings on. They actually
have to in most states.

Speaker 3 (09:16):
As a regulatory matter, pass those federal tax savings.

Speaker 1 (09:19):
On Oh, you have a choice, it is in November,
and its Phil Kirpin points out the better choice is
Donald Trump if you're concerned about your energy, build a
national debt and everything else. Although I got to point
out Phil, donald Trump wasn't exactly a deficit hawk.

Speaker 4 (09:33):
He's not great. I didn't look. I don't want to
lie here. He's not great.

Speaker 3 (09:36):
He's not great on spending, that's for sure. I think
he was very good on tax he was very good
on regulation, he was good on energy. He was very
bad on spending. But Democrats are even worse. So it's
not it's a problem. It is a problem. And I
don't know what to tell you other than we're going
to keep trying to make the case that we've got
to have some some spending restraints and some.

Speaker 4 (09:57):
Discipline on the on the budget.

Speaker 3 (09:59):
But you you know, if all they do every year
is do nothing all year and then in December pass
some gigantic monstrosity, it's very tough.

Speaker 4 (10:06):
To get to fight any of the specifics.

Speaker 3 (10:08):
And then I don't know they've been doing it every
year for how long that it's a mess. It's really
a disgrace because every time a new speaker comes in,
what does they say, Oh, regular order, we're gonna funk this,
We're going to fix the institution, and then what happens.

Speaker 1 (10:20):
Nothing changing, continuing resolutions and kicking the can down the
road is the order of business these days. Phil Carpenton.
Find them online. Check them out the website. It's Americancommitment
dot org. Fild's been great having you on the program.
Serve best of health, all right, you eight forty fifty
five krec de talk station. See there, I'm not the
only one who could be critical of Trump, Ernie. I'm

(10:42):
a half assed conservative apparently, and because I'm not completely
committed to the man who is Donald Trump, although I
am voting for him and I do support him. One
of the reasons I'm somewhat disappointed in his presidential term.
The deficit went up by massive amounts. Somebody's got to
put a lid on spending. Anyhow. It's twenty two three

(11:02):
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(11:24):
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(11:46):
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if you're suffering

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