October 9, 2025 • 9 mins
Jonathan Hoenig of CapitalistPig.com has a national look at business news including the IRS getting cut in half!
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
On the Legacy Retirement Group dot com phone line. Say
good morning to our capitalist pig, Jonathan Honig. Jonathan, A
lot of people tune in for our segment every Thursday
at about eight or nine minutes after eight o'clock in
the morning. Shout out to Charles in Dublin. Is a
huge fan of six tens, a huge fan of yours.
So you got a fan, you got, you got at
least one fan out there, Jonathan.
Speaker 2 (00:20):
Well, great to hear, Mike. And look, I'm they're a
fan when the market's at an all time high, right, yeah?
Speaker 3 (00:26):
Fan?
Speaker 2 (00:27):
And boy, I mean what a rally this has been, Pete.
How can people not take a look at those four
to one k bounces, Mike, I mean the s and
p the NASDAC at a new all time high yesterday, and.
Speaker 3 (00:39):
I'm sure you saw this goal. The price of gold.
Speaker 2 (00:41):
Now over four thousand dollars announce, just to give you
a comparison, two years ago, it was two thousand dollars announced.
So with its doubled in just two years time, and
whether it be stocks or gold, I mean we're seeing
so many prices continue to reach all time highs despite
the shutdown in Washington and almost make you feel like, gee,
maybe it's American business that powers the economy, not the
(01:04):
bureaucrats in DC.
Speaker 1 (01:05):
Interesting point, a lot of people saying that gold could
hit five thousand dollars an out, So it's I don't know,
is it time to go through grandma's old jewelry and
go get it melted down and is see what you
can get for it? Or is this is this physical gold, Jonathan?
Or is this like people just didn't at bag paper gold.
Speaker 2 (01:21):
This is the price of a spot gold itself, Mike.
And you know, gold now is outstripped equities this century.
So for the last twenty five years now, an investment
is gold has been done better than an investment in stocks,
and it's on pace for the best performance since the
nineteen seventies. You got to think of all the things
with the federal with President Richard Nixon and rates at
(01:43):
double digits. So you know, the trend is your friend.
And there's certainly not investment advice. But oftentimes what we
think of as being the all time high is just
and all time high. I mean, how many times on
Thursday mornings if we talked about the markets.
Speaker 3 (01:57):
That new all time high.
Speaker 2 (01:59):
It's kind of a nature of the trend. I think
the worrisome sign is that the trend is towards higher
prices for nearly everything. So the question about information is
still very much on the fence table, despite an indication
that rates.
Speaker 3 (02:12):
Are going to go even lower. You know that we
had the.
Speaker 2 (02:15):
Minutes, the so called minutes released yesterday, and a majority
of those set officials feel like the risk now is
towards unemployment. So they're looking to cut rates once again
a quarter point next time they meet.
Speaker 1 (02:27):
And then that will affect mortgage rates. And I'm seeing
that borrowers are headed back to risky er mortgage. What's
a risky mortgage, Jonathan, Well.
Speaker 2 (02:36):
Adjustable rate one one that doesn't lock in with some certainty.
And you know what's been this dichotomy, Mic, is although
the markets have done very well, you talk to everyday
Americans and you find that they're struggling. Their credit card
balances are at or near all time highs, and you know,
in something like buying a home, which is still extraordinarily
expensive historically, and people are struggling just to even if
(02:59):
they can get out for mom and dad to make
that down payment.
Speaker 1 (03:02):
So yeah, the.
Speaker 2 (03:03):
Adjustable rate mortgage, according to Sambass, is really coming back
in the fashion right now. It's got lower rates and
you know, more risk, but people can what people can afford.
Speaker 3 (03:14):
He's this psychotomy continues.
Speaker 1 (03:16):
He's Jonathan hooneg Capitalist pig dot com. If you have
a moment today and you want to maybe to check
in with Jonathan, you can reach them through his website
Capitalist pig dot com. You know, we talk a lot,
Jonathan about AI. We mentioned it a number of times
every week, and there's always some new development.
Speaker 2 (03:31):
You know.
Speaker 1 (03:31):
One of the big fears it's it's going to take
all of our jobs. AI pretty pretty much will be
all of our bosses pretty soon. But there is some
new research out there that says that AI not yet
replacing workers in this country.
Speaker 2 (03:43):
Yeah, CNN had the story that was the headline. AI,
according to researchers at Yale University isn't yet really replacing
human human beings when it comes to jobs. And you
keep in mind AI really kind of went mainstream back
in twenty twenty two, that's when Chat Sheep kind of
went public. So you know, they've studied this and what
(04:04):
interestingly is that a lot of the extra work They
say that AI creates mic is because you have to
have humans to check the work produced by the AI,
so you know, AI ironically it's I guess making things easier,
although it's certainly not perfect yet. And my t had
a study out recently. They said that ninety five percent
(04:25):
of companies that try AI aren't yet making any real
money from it. So it's something to keep them in
the back of our minds, especially since so many of
the companies that have done so well in the stock
market are directly tied to that AI trend.
Speaker 3 (04:38):
Interesting.
Speaker 1 (04:38):
Yeah, and then not only do you need humans to
check the work of AI, but people are now getting
pretty good at creating different prompts to get AI to
achieve the results you want. So, I mean, you can
be there are jobs available that just use AI, but
you still need that human touch there, no doubt. Talk
about Domino's Pizza. They've got a little bit of a
rebrand going on there. They're doing some differ diferent things
(05:00):
to try to get you to buy their pizza.
Speaker 2 (05:02):
Yeah, I mean, the really, even Dominos micah has to
stay fresh, especially in the Instagram age. They're giving themselves
a major makeover. New told touting new logo, brighter colors,
new employee uniforms, new pizza boxes, new signage, and for
the first time domino has been around for sixty five years,
they're actually releasing a jingle mimicking its name. It's gonna
(05:26):
be performed by country star Shabouzi. You don't want to
miss that, and it's the whole idea. Now, you really
got to stay relevant, and you know, there's been a
lot of competition in the pizza game. Domino Stock has
been an amazing performer over the last couple of years,
so basically they're just trying to stay relevant. Domino's changing
their look and changing their sounds for the first time
as well.
Speaker 1 (05:46):
Well, now you got me thinking about stuff cross pizza.
I don't know now now I'm hungry, Jonathan. Thanks, thanks
a lot.
Speaker 3 (05:53):
Uh.
Speaker 2 (05:53):
Well, that's been that's been a real success for them.
Speaker 3 (05:56):
Actually.
Speaker 2 (05:56):
You know, one of the reasons they're doing well against say,
Papa John, Pizza Hut, all these other competitors is that
suft crust and also deals. You know, people are looking
for deals and Domino's has still thought of as really
being the value oriented option in the arena. So they're
capitalizing on Americans just wanting to save a couple of bucks.
Speaker 1 (06:15):
Incredibly competitive space too, pizza. Absolutely, the IRS workforce has
been cut in half as the government shut down continues
into its second week.
Speaker 2 (06:24):
It has the workforce thirty four thousand employees. Pretty amazing
if Fox News had the story thirty four thousand employees
face furlough As you said, Mike, the government shutdown continuing.
Speaker 3 (06:36):
Now, of course they're all going to get paid. These
people will.
Speaker 2 (06:39):
All come back to work. But you know, does that
mean that we're furloughed from having due pay? Do I
just get the whole that's amazing is the IRS employees
seventy five thousand people, Mike.
Speaker 3 (06:53):
I mean that's you know, you think about the.
Speaker 2 (06:55):
Population of a city everyone. Does IRS really need to
be that? And do taxes need to be so difficult
that oftentimes we need to employ you know, complex software
or an accountant to figure it out. So, boy, I'd
love President Trump and our elected officials.
Speaker 3 (07:10):
To let's do something finally.
Speaker 2 (07:12):
I mean, twenty five years ago, Steve Forbes talked about
making taxes so easy you could do it on the
back of a postcard. Like, let's get back to that
mentality rather than a bureaucracy which needs almost eighty thousand.
Speaker 3 (07:23):
People just to operate. It's unbelievable.
Speaker 1 (07:25):
I'm glad you brought that up. I went on a
bit of a rant the other day about the IRS,
and you know, it's so complicated with the tax code,
and do we need all these IRS agents. I mean,
imagine if we simplify the tax code to a flat
tax or a federal fair tax or something. And not
to get off on a tangent here, I mean you
could really simplify the tax code and not abolish the IRS,
(07:48):
but really reduce and just make this way simpler. It's
way more difficult than it needs to be, There's no
doubt absolutely.
Speaker 2 (07:55):
I mean they have you measuring what percentage of your
home you do your work in to calculate what deduction.
You know, did you mention business at at lunch? Well,
now it's it's complete and it's either.
Speaker 3 (08:06):
You're a fool or you're a crook.
Speaker 2 (08:07):
When comes to today's IRS, you know you're either an
idiot or you're absolutely a crook. So I'm with you, Michael,
as well the IRS and let people keep the money
that they are.
Speaker 3 (08:17):
Amen.
Speaker 1 (08:18):
Brother, Let's talk about Disney. We mentioned this a couple
of hours ago. They have raised prices at Walt Disney
World in Disneyland parks. It's remarkable how much it costs
to go to.
Speaker 2 (08:28):
Disney interestingly too, and you know, looking at some of
the WTVN online seeds, Mike, you know, people are really
passionate about Disney. They had great experiences, they are as children,
they're very conscious of Disney is a political force right now.
But look, just didn't come to dollars and cents. They're
raising prices across the board at the Orlando Park as
(08:49):
well as the park in Anaheim, and it's the most
popular ticket. The one day ticket has gone up eighteen dollars.
It's now two hundred and.
Speaker 3 (08:58):
Twenty four dollars for aults.
Speaker 2 (09:00):
That is up one hundred and twenty six percent over
the last decade. Fox Business had the story and pretty amazing.
I mean, to get the five day park hopper, we're
still talking about six hundred and fifty five dollars. Well,
now you got your wife and two kids, So boy,
I mean, Disney is it's maybe it's the happiest place
to honor, but it sure isn't the cheapest
On the Legacy Retirement Group dot com phone line. Say
good morning to our capitalist pig, Jonathan Honig. Jonathan, A
lot of people tune in for our segment every Thursday
at about eight or nine minutes after eight o'clock in
the morning. Shout out to Charles in Dublin. Is a
huge fan of six tens, a huge fan of yours.
So you got a fan, you got, you got at
least one fan out there, Jonathan.
Speaker 2 (00:20):
Well, great to hear, Mike. And look, I'm they're a
fan when the market's at an all time high, right, yeah?
Speaker 3 (00:26):
Fan?
Speaker 2 (00:27):
And boy, I mean what a rally this has been, Pete.
How can people not take a look at those four
to one k bounces, Mike, I mean the s and
p the NASDAC at a new all time high yesterday, and.
Speaker 3 (00:39):
I'm sure you saw this goal. The price of gold.
Speaker 2 (00:41):
Now over four thousand dollars announce, just to give you
a comparison, two years ago, it was two thousand dollars announced.
So with its doubled in just two years time, and
whether it be stocks or gold, I mean we're seeing
so many prices continue to reach all time highs despite
the shutdown in Washington and almost make you feel like, gee,
maybe it's American business that powers the economy, not the
(01:04):
bureaucrats in DC.
Speaker 1 (01:05):
Interesting point, a lot of people saying that gold could
hit five thousand dollars an out, So it's I don't know,
is it time to go through grandma's old jewelry and
go get it melted down and is see what you
can get for it? Or is this is this physical gold, Jonathan?
Or is this like people just didn't at bag paper gold.
Speaker 2 (01:21):
This is the price of a spot gold itself, Mike.
And you know, gold now is outstripped equities this century.
So for the last twenty five years now, an investment
is gold has been done better than an investment in stocks,
and it's on pace for the best performance since the
nineteen seventies. You got to think of all the things
with the federal with President Richard Nixon and rates at
(01:43):
double digits. So you know, the trend is your friend.
And there's certainly not investment advice. But oftentimes what we
think of as being the all time high is just
and all time high. I mean, how many times on
Thursday mornings if we talked about the markets.
Speaker 3 (01:57):
That new all time high.
Speaker 2 (01:59):
It's kind of a nature of the trend. I think
the worrisome sign is that the trend is towards higher
prices for nearly everything. So the question about information is
still very much on the fence table, despite an indication
that rates.
Speaker 3 (02:12):
Are going to go even lower. You know that we
had the.
Speaker 2 (02:15):
Minutes, the so called minutes released yesterday, and a majority
of those set officials feel like the risk now is
towards unemployment. So they're looking to cut rates once again
a quarter point next time they meet.
Speaker 1 (02:27):
And then that will affect mortgage rates. And I'm seeing
that borrowers are headed back to risky er mortgage. What's
a risky mortgage, Jonathan, Well.
Speaker 2 (02:36):
Adjustable rate one one that doesn't lock in with some certainty.
And you know what's been this dichotomy, Mic, is although
the markets have done very well, you talk to everyday
Americans and you find that they're struggling. Their credit card
balances are at or near all time highs, and you know,
in something like buying a home, which is still extraordinarily
expensive historically, and people are struggling just to even if
(02:59):
they can get out for mom and dad to make
that down payment.
Speaker 1 (03:02):
So yeah, the.
Speaker 2 (03:03):
Adjustable rate mortgage, according to Sambass, is really coming back
in the fashion right now. It's got lower rates and
you know, more risk, but people can what people can afford.
Speaker 3 (03:14):
He's this psychotomy continues.
Speaker 1 (03:16):
He's Jonathan hooneg Capitalist pig dot com. If you have
a moment today and you want to maybe to check
in with Jonathan, you can reach them through his website
Capitalist pig dot com. You know, we talk a lot,
Jonathan about AI. We mentioned it a number of times
every week, and there's always some new development.
Speaker 2 (03:31):
You know.
Speaker 1 (03:31):
One of the big fears it's it's going to take
all of our jobs. AI pretty pretty much will be
all of our bosses pretty soon. But there is some
new research out there that says that AI not yet
replacing workers in this country.
Speaker 2 (03:43):
Yeah, CNN had the story that was the headline. AI,
according to researchers at Yale University isn't yet really replacing
human human beings when it comes to jobs. And you
keep in mind AI really kind of went mainstream back
in twenty twenty two, that's when Chat Sheep kind of
went public. So you know, they've studied this and what
(04:04):
interestingly is that a lot of the extra work They
say that AI creates mic is because you have to
have humans to check the work produced by the AI,
so you know, AI ironically it's I guess making things easier,
although it's certainly not perfect yet. And my t had
a study out recently. They said that ninety five percent
(04:25):
of companies that try AI aren't yet making any real
money from it. So it's something to keep them in
the back of our minds, especially since so many of
the companies that have done so well in the stock
market are directly tied to that AI trend.
Speaker 3 (04:38):
Interesting.
Speaker 1 (04:38):
Yeah, and then not only do you need humans to
check the work of AI, but people are now getting
pretty good at creating different prompts to get AI to
achieve the results you want. So, I mean, you can
be there are jobs available that just use AI, but
you still need that human touch there, no doubt. Talk
about Domino's Pizza. They've got a little bit of a
rebrand going on there. They're doing some differ diferent things
(05:00):
to try to get you to buy their pizza.
Speaker 2 (05:02):
Yeah, I mean, the really, even Dominos micah has to
stay fresh, especially in the Instagram age. They're giving themselves
a major makeover. New told touting new logo, brighter colors,
new employee uniforms, new pizza boxes, new signage, and for
the first time domino has been around for sixty five years,
they're actually releasing a jingle mimicking its name. It's gonna
(05:26):
be performed by country star Shabouzi. You don't want to
miss that, and it's the whole idea. Now, you really
got to stay relevant, and you know, there's been a
lot of competition in the pizza game. Domino Stock has
been an amazing performer over the last couple of years,
so basically they're just trying to stay relevant. Domino's changing
their look and changing their sounds for the first time
as well.
Speaker 1 (05:46):
Well, now you got me thinking about stuff cross pizza.
I don't know now now I'm hungry, Jonathan. Thanks, thanks
a lot.
Speaker 3 (05:53):
Uh.
Speaker 2 (05:53):
Well, that's been that's been a real success for them.
Speaker 3 (05:56):
Actually.
Speaker 2 (05:56):
You know, one of the reasons they're doing well against say,
Papa John, Pizza Hut, all these other competitors is that
suft crust and also deals. You know, people are looking
for deals and Domino's has still thought of as really
being the value oriented option in the arena. So they're
capitalizing on Americans just wanting to save a couple of bucks.
Speaker 1 (06:15):
Incredibly competitive space too, pizza. Absolutely, the IRS workforce has
been cut in half as the government shut down continues
into its second week.
Speaker 2 (06:24):
It has the workforce thirty four thousand employees. Pretty amazing
if Fox News had the story thirty four thousand employees
face furlough As you said, Mike, the government shutdown continuing.
Speaker 3 (06:36):
Now, of course they're all going to get paid. These
people will.
Speaker 2 (06:39):
All come back to work. But you know, does that
mean that we're furloughed from having due pay? Do I
just get the whole that's amazing is the IRS employees
seventy five thousand people, Mike.
Speaker 3 (06:53):
I mean that's you know, you think about the.
Speaker 2 (06:55):
Population of a city everyone. Does IRS really need to
be that? And do taxes need to be so difficult
that oftentimes we need to employ you know, complex software
or an accountant to figure it out. So, boy, I'd
love President Trump and our elected officials.
Speaker 3 (07:10):
To let's do something finally.
Speaker 2 (07:12):
I mean, twenty five years ago, Steve Forbes talked about
making taxes so easy you could do it on the
back of a postcard. Like, let's get back to that
mentality rather than a bureaucracy which needs almost eighty thousand.
Speaker 3 (07:23):
People just to operate. It's unbelievable.
Speaker 1 (07:25):
I'm glad you brought that up. I went on a
bit of a rant the other day about the IRS,
and you know, it's so complicated with the tax code,
and do we need all these IRS agents. I mean,
imagine if we simplify the tax code to a flat
tax or a federal fair tax or something. And not
to get off on a tangent here, I mean you
could really simplify the tax code and not abolish the IRS,
(07:48):
but really reduce and just make this way simpler. It's
way more difficult than it needs to be, There's no
doubt absolutely.
Speaker 2 (07:55):
I mean they have you measuring what percentage of your
home you do your work in to calculate what deduction.
You know, did you mention business at at lunch? Well,
now it's it's complete and it's either.
Speaker 3 (08:06):
You're a fool or you're a crook.
Speaker 2 (08:07):
When comes to today's IRS, you know you're either an
idiot or you're absolutely a crook. So I'm with you, Michael,
as well the IRS and let people keep the money
that they are.
Speaker 3 (08:17):
Amen.
Speaker 1 (08:18):
Brother, Let's talk about Disney. We mentioned this a couple
of hours ago. They have raised prices at Walt Disney
World in Disneyland parks. It's remarkable how much it costs
to go to.
Speaker 2 (08:28):
Disney interestingly too, and you know, looking at some of
the WTVN online seeds, Mike, you know, people are really
passionate about Disney. They had great experiences, they are as children,
they're very conscious of Disney is a political force right now.
But look, just didn't come to dollars and cents. They're
raising prices across the board at the Orlando Park as
(08:49):
well as the park in Anaheim, and it's the most
popular ticket. The one day ticket has gone up eighteen dollars.
It's now two hundred and.
Speaker 3 (08:58):
Twenty four dollars for aults.
Speaker 2 (09:00):
That is up one hundred and twenty six percent over
the last decade. Fox Business had the story and pretty amazing.
I mean, to get the five day park hopper, we're
still talking about six hundred and fifty five dollars. Well,
now you got your wife and two kids, So boy,
I mean, Disney is it's maybe it's the happiest place
to honor, but it sure isn't the cheapest
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