Bannon's War Room - Episode 5058： The Execution Of Trump's Economic Revolution

00:00:00.000 So we're lowering that to 3,000. And we're also targeting the two counties here. And we're going to do enhanced surveillance. And from now on, anyone who wires money out from one of these money service businesses has to check a box saying whether they are on public assistance. And if you were on public assistance, we are going to start pushing that you cannot wire money out of the country.

00:00:25.880 Oh, gosh. And what if they lie and they don't tell us they're public assistance? Well, then... That's a crime, lying on a federal form. We're going to follow it up. And we are going to push that you can no longer do that. The American people, our generosity has been taken advantage of. Our generosity is funding al-Shabaab in Iranian interest, it could be. Well, the money... This is really bad. The money is supposed to go for alleged asylum seekers and their families and children. And if you were wiring the money out

00:00:55.860 of the country, one of two things must be true. You are getting too much money and your benefits should be cut. Or you are part of this conspiracy. Where did that money come from? We're going to find it out. That's what Treasury does. IRS has a group called Criminal Investigations.

00:01:11.860 President Trump is committed to restoring accountability to put Minnesota back on the right track. Under President Trump's leadership, the entire administration is focused on delivering results for the American people. Our citizens have a right to know that their tax dollars are not being diverted to fund acts of global terror or to fund luxury cars for fraudsters.

00:01:38.860 Democratic Governor Tim Walz has allowed welfare programs and fraud to spiral out of control. Billions of dollars intended for hungry children, housing for disabled seniors, and services for children with special needs were diverted to people who cheated the system, some of whom are not even American citizens. At Treasury, we are thoroughly investigating the fraud, including funds and fraud.

00:02:08.860 sent to Somalia through money service businesses, which provide financial services outside of a formal bank.

00:02:17.860 How was the war?

00:02:23.860 This is the primal scream of a dying regime.

00:02:30.660 And where do people like that go to share the big line?

00:02:37.660 Mega media.

00:02:39.660 I wish, in my soul, I wish that any of these people had a conscience.

00:02:40.660 Ask yourself, what is my task and what is my purpose?

00:02:44.660 If that answer is to save my country, this country will be saved.

00:02:49.660 War Room.

00:02:50.660 War Room.

00:02:51.660 Here's your host, Stephen K. Banff.

00:02:52.660 I must go to share the big line.

00:02:53.660 I must go to share the big line, MAGA media.

00:02:54.660 I wish in my soul, I wish that any of these people had a conscience.

00:02:58.660 Ask yourself, what is my task and what is my purpose?

00:03:02.660 If that answer is to save my country, this country will be saved.

00:03:09.660 War Room.

00:03:10.660 Here's your host, Stephen K. Banff.

00:03:13.660 saturday 10 january year of our lord 2026 uh we're going to get to in a moment

00:03:23.340 uh what is happening in minneapolis also grapevine texas this amazing uh conference we

00:03:30.680 had yesterday topped off by gert builders glenn beck uh and myself uh grant stinchfield and others

00:03:37.560 about uh the ismalization of texas we're going to get to all that in a moment and also talk

00:03:43.440 to you about the launch of war room texas on monday but first the secretary of treasury joins us

00:03:49.700 you know i talk about last night in my speech in grapevine the tale of three cities tehran

00:03:55.540 minneapolis and grapevine texas but uh scott with you mr secretary it's really two tales of one city

00:04:04.300 uh we had you there and we covered this wall to wall your your amazing speech i think to the

00:04:10.340 economic club to talk about the economy then you toured various factories you had round tables

00:04:15.440 you stayed there for two days you had the great laura ingram out there with you incredible interview

00:04:20.440 and laura showing enormous bravery uh you know dealing with that mob out there but can you just

00:04:27.580 give me your assessment and and right there at the end spontaneous combustion in a restaurant

00:04:34.240 where the good citizens of minneapolis i think are telling us hey this is the guy that's trump's guy

00:04:41.540 on the economy and we're kind of liking what we're seeing and i don't remember i think the first time

00:04:47.260 in the history of the republic maybe it happened to hamilton back at the beginning i don't remember

00:04:52.780 anybody in any audience or or just customers basic americans decent americans breaking out

00:04:59.340 in usa chants when a secretary treasury walks into a restaurant just tell us the the two tales of one

00:05:07.140 city because we saw following you one and then we had the posobics out there and julio and others

00:05:13.120 with these riots and then last night couldn't have gotten more dangerous a thousand antifa surrounded

00:05:19.220 the hilton broke into the hotel i mean really kind of potentially wanted to hold the ice agents hostage

00:05:24.360 your thoughts sir steve good morning good to be with you and look what we're seeing out here is

00:05:32.740 what's going on in larger america it's a tale it's a tale of two americas we've got people who gather for

00:05:38.400 college football every saturday go to church on sunday and then we got these protesters who have

00:05:44.240 nothing to do except attack ice agents whether it's in portland or minneapolis and i can tell you

00:05:50.440 there is this big silent majority big big silent majority when i was in maynard's restaurant on lake

00:05:57.880 wasetta the uh and or lake minnetonka and spontaneous combustion people started uh chanting usa and that

00:06:07.480 wasn't for scott besant the treasury secretary that is for the mega movement that is for the trump

00:06:13.120 presidency they love what's doing what's happening they see that the economy is getting better they see

00:06:19.320 that president trump has saved this country and they like his policies he secured the border he's made

00:06:26.180 free trade fair trade and now this year we are going to see the economic benefits and it is it couldn't

00:06:35.380 be different minnesota nice was taken advantage of my sense is that the people of minnesota having been

00:06:43.000 very generous are now feeling abused and used and they want answers

00:06:48.220 mr secretary i noticed in the time i've known you as a friend you've been a colleague and a contributor

00:06:55.420 here known you for years and then going to be treasury secretary running this huge hedge fund

00:07:00.080 um i i want to go through what message did you tell the business leaders and and the companies

00:07:06.300 and you're a listener what feedback did you get from the business community of uh minneapolis and

00:07:12.920 the different entrepreneurs you went around and saw what what feedback did you get any mid-course

00:07:18.340 guidance any recommendations what are the folks at minnesota tell you

00:07:22.100 well folks folks out of minnesota the business people here we are in the great american industrial

00:07:30.220 heartland and it's the exact uh kind of businesses that president trump is trying to bring back there are

00:07:38.120 gigantic family-owned businesses here and tim tim waltz and almost a generation of democratic politicians

00:07:45.920 have taken advantage of the fact that these folks are not mobile that they their families have been

00:07:52.700 here maybe multi-generational maybe they they moved here in the 70s 80s 90s uh up until the early 2000s

00:08:02.380 minnesota was business friendly now it has the second highest corporate tax rate in america uh they are

00:08:08.540 feeling uh besieged and they think that the government isn't on their side i i was at a a very very large

00:08:17.340 home products factory uh factory called cambria and uh the owner there could not have been more

00:08:24.940 grateful for the tariffs and he said there's still more to do on trade that if we could bring his

00:08:31.220 southeast asian competitors into fair trade that he could have three to four more factories the size

00:08:37.980 of his to supply the u.s building industry but he says that whether it's chinese the indians the other

00:08:43.880 southeast asian competitors uh keep copying his products and trying to undercut him and president

00:08:49.940 trump has helped save his company and saved i believe it's 1800 jobs here so we're hearing the

00:08:56.660 same thing from everyone uh they love the one big beautiful bill the expensing 100 expensing provision

00:09:03.040 has made new investment possible i was at winnebago and i i i guess the uh they are very innovative

00:09:13.520 they are trying to design what what their customers want a lot of that has to do with batteries and

00:09:20.180 they've undertaken a big battery initiative uh research development center down in florida and they

00:09:26.900 would not have done it without the president's 100 percent immediate expensing uh that was in the

00:09:33.160 july 4th bill so we've just got to sit back the manufacturing renaissance is beginning i saw i did a round

00:09:42.700 table with community banks i saw the largest bank out here u.s bank corp and they they said contrary

00:09:48.800 to the new york times and even the wall street journal this morning that their clients uh all up and

00:09:55.520 down the economic chain are in excellent shape consumers are spending so this narrative that the job

00:10:01.680 market's tough and that people are pinched uh they've never seen it before if the consumer is spending

00:10:09.120 like this what is the the the wall street journal seems to are they looking at a different set of

00:10:16.760 numbers because they've been consistently i think negative on on everything that's happening i mean

00:10:22.500 i look at the math and i come to a very different conclusion they they look at i think the same math

00:10:27.560 that you and i look at they come to a different conclusion how do you how do you reconcile that

00:10:32.820 look steve that in any any data set uh is an average or you know median a central tendency

00:10:44.300 and there are there can be outliers in the data they just immediately gravitate you know to this

00:10:50.660 doomsday scenario because the wall street journal editorial board can't stand the president's policies

00:10:56.120 bunch of grumpy old men over there do not want to admit that they have been fantastically wrong

00:11:01.680 everything that they have stood for uh you know is crumbling that they created this terrible trade

00:11:10.340 situation i mean look look steve in october we had the best trade number the best the smallest trade

00:11:18.660 deficits since 2009 i've been in the investment business 35 40 years when i first started 1980s 1990s

00:11:27.740 trade used to contribute to gdp but then we got to these massive trade deficits and it was ross perot

00:11:35.220 said it was a giant sucking sound so everyone was oh my gosh what is it was unexpected that the gdp

00:11:42.160 was so strong in october it was strong because of exports and again what's not going reported

00:11:48.980 anywhere is that the trade deals that president trump has done and jameson greer has negotiated the

00:11:56.100 details in a magnificent way magnificent way is the headline is always the tariff the u.s has put a

00:12:03.260 15 tariff on europe 15 tariff on japan 18 19 20 on philippines indonesia vietnam the other side of that

00:12:13.420 ledger steve is why we saw that big gdp number because jameson is going in with a machete and with

00:12:20.660 president trump's backing and insistence our trading partners are taking down their high tariffs down

00:12:27.960 to zero they're removing the non-tariff trade barriers and the that's why we're seeing this

00:12:34.360 export flow pick up and nobody wants to talk about that the the other thing too is as i've said many

00:12:40.700 times that the trump economic oh go ahead no no no well just one thing when the trump economic the day

00:12:48.920 and i want you to read just they had exports up 30 percent imports down 30 percent smallest trade

00:12:56.980 deficit we've had in decades and the financial times of london and the wall street journal will

00:13:03.160 just not take that basic number and just address it also the tariffs there's been no uh there's been

00:13:10.120 no data at all the show there's been any price increases joe lavarney said your your guy over

00:13:15.940 treasury uh we're about to have a a disinflationary boom which is extraordinary i tell you scott hang

00:13:22.760 on for one second mr secretary we're gonna go to commercial break to pay a few bills here

00:13:27.800 the trump economic plan which is a combination of the supply side tax cut to bring manufacturing jobs

00:13:36.720 back to the united states coupled with his trade the reorganization of commercial relationships

00:13:44.020 globally from the post-war economic rules-based order which only ripped off workers and the american

00:13:51.700 citizens uh that now the tariffs as a forcing function remember either going to force you to

00:13:57.780 bring manufacturing jobs back here remember we had the secretary on i think about a month ago right

00:14:03.360 before i think the christmas holidays he was in south carolina uh of i believe a germans had put in 0.98

00:14:10.700 some advanced uh technology i think was in magnets right that's what that's what the tariff for and now you

00:14:18.040 see that exports are up 30 percent imports are down 30 percent there's no discernible inflation through

00:14:24.660 the tariff numbers what's not to love this is the execution of the plan and this is why

00:14:31.160 the doom and gloomers at the wall street journal the financial times of london the business section of

00:14:36.120 the new york times bloomberg uh i'm just picking some random random examples short commercial break

00:14:44.500 we're going to return to the war room and the secretary treasury scott besant

00:14:49.320 on some basic math of the trump economic revolution next

00:14:54.460 do you owe back taxes or haven't filled in years now is the time to resolve your tax matters

00:15:04.680 when the national conversation around abolishing the income tax system the irs is fighting back

00:15:10.500 and proving it's here to stay by becoming more aggressive than ever before they're sending out

00:15:16.360 more collection notices filing more tax liens and collecting billions more than in recent years

00:15:22.440 if you owe the irs can garnish your wages levy your bank accounts seize your retirement even your home

00:15:29.280 if you owe or haven't filed it's not a question of the irs will act it's when the irs will act now

00:15:37.380 right now tax network usa is offering a completely free irs research and discovery call to show you

00:15:43.920 exactly where you stand and what they can stop before it's too late their powerful programs and

00:15:49.980 strategies can save you thousands or even eliminate your debt entirely if you qualify don't make a

00:15:55.900 costly mistake representing yourself or calling the irs on your own waives your rights and costs you

00:16:01.640 more money they are not on your side the irs is there to get as much money as possible not to help you

00:16:07.800 get protected the right way with tax network usa and start the process on settling your tax matters

00:16:15.160 once and for all beginning today call 800-958-1000 that's 1-800-958-1000 or visit taxnetworkusa.com

00:16:27.300 that's tnusa.com slash bannon for your free discovery call with tax network tnsusa.com slash bannon for your

00:16:37.780 free discovery call or call 1-800-958-1000 that's 1-800-958-1000 don't let the irs make the first move act

00:16:51.740 today

00:16:52.340 mr secretary you were you were uh on a roll there about what the uh what the trade policy has done

00:17:09.220 in combination i mean that's the two that's the pincer move you got the commercial relationships

00:17:13.140 the trade policies what what's blown me away is uh first off just the history of it then the first term

00:17:20.500 how difficult it was because these things are so complicated they're such scale and they've gone

00:17:25.800 through you know so many different uh operations and the government have to sign off on it i don't

00:17:31.200 think people quite appreciate the urgency you people had to actually start to get trade deals in place

00:17:37.660 in six months and actually start to see the benefit of normally these things take years it took years to

00:17:42.940 negotiate previous trade deals with korea and japan and others you guys are doing them in six seven eight

00:17:49.800 months and having them going to immediate impact and then monitoring it and you're seeing not just

00:17:55.420 capital markets respond but also corporations respond sir

00:17:59.740 steve president trump's economic agenda is a three-legged stool that i've talked about quite a

00:18:10.580 bit before so the first is trade we've talked about that uh trade trade deals are on track successful

00:18:16.560 percolating along uh tax tax policy another leg of the stool one big beautiful bill no one said it

00:18:23.800 could be done it was done by july 4th that with president trump's leadership and mike speaker johnson

00:18:30.660 leader thune uh pushing both bodies of congress to get that done so check and then three the

00:18:39.040 unheralded uh part or the third leg of the stool is deregulation and deregulation against all

00:18:47.920 parts of the economy because when i'm out here in minnesota these folks like making things like this

00:18:54.540 is a manufacturing hub they are great at it they innovate they they build and that's what they want

00:19:01.800 to do and with the deregulation i think one of the surprises for me coming into government was how hard

00:19:08.880 we had made it in the u.s to build things like like forget the unfair trade the epa had just chased

00:19:15.780 everyone out of the country the in terms of the manufacturing so yes it was cheaper to build in china

00:19:22.920 or india mexico but you just couldn't build here and president trump lee zeldin at the epa is knocking

00:19:30.900 down those barriers at treasury we have the cut back on unnecessary financial regulations we're going

00:19:38.520 to keep things safe and sound but oliver wyman estimates that our moves in deep financial deregulation

00:19:45.480 have the the increased the ability to for banks to lend by 2.5 trillion dollars to the u.s economy

00:19:54.600 and then energy deregulation in terms of what we're doing we've got to power this boom that we're seeing

00:20:02.280 in the economy steve right now if you take the atlanta fed gdp now and the inflation numbers we have

00:20:10.020 eight percent nominal growth eight percent nominal growth we're holding spending flat and we are

00:20:16.640 going to grow our way out of this debt problem the unheralded thing that happened last year was we'll

00:20:23.360 see where the final calendar year number settles but the u.s deficit for calendar year 2025 is going to be

00:20:32.420 between 250 billion and 500 billion lower so between approximately one percent of gdp and one and a half

00:20:40.760 percent of gdp and that's with high gdp numbers so the third quarter gdp that surprised everyone was

00:20:49.360 4.3 percent the private sector gdp was 4.7 or 4.8 percent we cut government spending so we had a

00:20:58.160 contraction in the government and the private sector boom is powering this thing it is the you

00:21:05.260 know it really is kicking in and i think 2026 is going to be even better because i'm also the irs

00:21:13.080 commissioner so i can see the tax refunds that are waiting to go out to americans we one of the things

00:21:19.000 i announced at the economic club of minneapolis was we're starting the tax filing season about the

00:21:24.320 earliest we've done in a decade january 26 and these refunds to working americans because of the

00:21:30.780 president's signature policies no tax and tips no tax and overtime no tax and social security

00:21:35.860 auto deductibility of american-made cars is going to result in over 100 billion maybe 150 billion of tax

00:21:43.600 refunds going to working americans in the first quarter americans will change their withholding

00:21:50.060 schedule and they will get an automatic bump in their take-home pay so i am very optimistic that

00:21:56.960 we're going to have substantial non-inflationary growth as joe lavornia says they have for 2026

00:22:04.920 i notice the president is taking a pretty strong populist

00:22:11.560 drive in the last couple of weeks i mean he is a populist but going after

00:22:17.580 talk to me about it looks like the private equity uh guys no longer he's going to try to block them

00:22:22.580 from buying uh homes getting into the real estate market maybe i think condos and apartments maybe

00:22:28.320 also uh yesterday he said he's going to limit credit cards to 10 percent he had the oil companies

00:22:34.220 there but talk talk about venezuela but he's also hammering them jawboning them about full spectrum

00:22:39.380 energy dominance he wants he wants price of energy even to come down more talk to me about these things

00:22:44.380 that are happening right now that president trump's directly going after the affordability issue

00:22:48.620 uh yeah look he he wants corporate america to get on board with the american people

00:22:56.840 and think about what's happening in venezuela we'll see what happens in iran and um he he had mostly big

00:23:05.760 oil in but i i can tell you that i've been part of the talks uh private oil companies the wildcatters

00:23:12.900 and you know these are substantial individuals they are chomping at the bit to get in um and

00:23:18.920 ceo of exxon came out and said well we need to see substantial change in venezuela before we can

00:23:25.020 do much there is substantial change in venezuela and you've got to live in the future because what

00:23:31.300 will happen just like with fracking just like with fracking that the individuals come in they make

00:23:38.060 billions of dollars and then they sell on to the oil majors so i think this narrative that the big

00:23:44.820 oil won't be involved these wildcatters are big oil and then chevron who has been a fantastic partner

00:23:51.660 uh over the years in dealing with venezuela with the sanctions they've really managed a difficult

00:23:57.940 regime really well uh is going to do more so my my sense is that chevron will have the lead

00:24:04.320 there so and and then you know these other initiatives uh of course private equity should

00:24:10.720 not be buying single family homes they have a huge tax advantage over individual buyers and

00:24:17.240 everyone says well it's not that much of the market i've been in markets 30 or 40 years and markets are

00:24:23.180 made by the marginal buyer and many of the uh real estate markets that have seen the most inflation

00:24:31.660 whether it's atlanta phoenix a lot of those southeast markets and western markets are where private

00:24:38.760 equity is most prevalent so we're not going to make them divest we don't want to cause a dramatic

00:24:45.960 price decrease but we we want to make it fair for everyday americans and we don't want there to be a

00:24:53.800 tax arbitrage between corporate buyers and homeowners

00:24:57.100 by the way you're correct harold ham was saying hey let me in the country and i'll show you

00:25:04.040 i'll go find you some good old cheap old denisuela uh mr secretary uh about this debacle in in

00:25:11.640 minneapolis i think it's spread it's all over the country this thing about uh the fraud uh the the

00:25:17.420 scams really paying for the left but you know these immigrants or migrants whatever you want to call 1.00

00:25:21.820 them shouldn't be on the government dole but they are stealing like crazy shipping hundreds of millions

00:25:26.380 of dollars out uh i know the president you have talked about that a lot you're kind of the enforcer

00:25:31.260 can you give us your overview of what you at treasury are going to do sir

00:25:35.660 steve treasury's job is to follow the money and we've done it the for centuries and in the 20th

00:25:45.380 century and coming coming into the 21st century we've taken down the mafia we are in the process of

00:25:52.220 uh the dissecting and taking apart the mexican drug cartels following their money and now we are 0.84

00:26:00.780 taking uh a very bright light to these somali fraudsters and we will follow the money we will know how this 1.00

00:26:08.660 happened uh we will know where it went we will know that if al-shabaab uh was a recipient so um and we've

00:26:18.120 taken several measures uh one uh we are putting in a geographic targeting order for the hennepin and

00:26:26.200 ramsey counties minneapolis st paul's uh where that where these somalians live a lot of the money goes

00:26:31.640 out through what are called uh msbs money service businesses they get wire transferred out so what

00:26:37.960 we've done we are taking the suspicious activity threshold down from ten thousand to three thousand

00:26:44.120 dollars and steve the important thing now you have to check a box if you are wiring money out of the

00:26:49.800 country on whether you are on public assistance or not because if you are wiring money out of the

00:26:56.040 country and you're on public assistance one of two things must be true your benefits are too high

00:27:03.160 because the generous people of minnesota are giving you those benefits for you and your family

00:27:08.440 they are not giving them the to your uncle in mogadishu so either the benefits are too high or you are part

00:27:16.360 of this the nest of fraud and uh neither is a good look but we we are going to trace all these llc's 0.86

00:27:28.200 and where the money is someone put it very very well yesterday said that the care payments have become

00:27:37.880 a big business it is a cottage industry out here teaching people how to form llc's they're skimming 0.99

00:27:43.640 money at every point and make no mistake the democratic establishment best case they turned a blind eye the

00:27:54.040 medium case they enable it and worst case uh we are going to find that they are recipients

00:28:00.200 and steve minnesota is going to be the genesis for the protocols that we use nationwide

00:28:13.240 mr secretary where do they go on social media to keep up with you and your activity sir

00:28:20.120 they they can go on to my treasury x account and the at the secretary

00:28:27.000 uh u.s treasury and we we're going to be posting a lot of our findings on there

00:28:35.480 mr secretary thank you for kicking off the weekend by joining war appreciate you sir

00:28:40.280 fight on godspeed good good short break

00:28:43.320 this christmas give the gift of food security with an amazing deal from our close friends over

00:29:00.520 at my patron supply it's called the buy one gift to christmas special and you guys have got to check it

00:29:08.840 out all month long when you buy an emergency food kit you get two more food kits free to give us gifts

00:29:17.480 that's right get a four-week emergency food supply for yourself and they'll throw you two one-week food 0.66

00:29:24.920 kits absolutely free the one-week kits make perfect gifts for anyone on your list who's into preparedness

00:29:34.200 or anyone who needs a little nudge in that direction these days it just makes sense to have some food

00:29:41.000 stored away in case of emergencies and with this buy one gift to christmas deal you're not only getting

00:29:49.400 it yourself prepared you're also getting unique and meaningful christmas gifts for your friends

00:29:55.320 our family and they're free so head over to my patriot supply dot com slash bannon and grab yours

00:30:02.680 today this offer is only around for the holiday season so go to my patriot supply dot com slash bannon now

00:30:11.800 that's my patriot supply dot com slash bannon the buy one gift to christmas special do it today

00:30:20.920 war room here's your host stephen k bannon

00:30:27.960 okay we're going to get to texas momentarily in minneapolis tehran all of it but i want to

00:30:34.440 i got john gardner on here john it was a uh and you represent you've got this organization about

00:30:39.160 small manufacturing you're talking about a small manufacturing renaissance in this country

00:30:43.960 you've been part of the peter navarro let's say mindset on bringing manufacturing or rejuvenating

00:30:49.160 manufacturing in the united states it was a year ago tomorrow that you approached you had the great

00:30:55.480 idea of the external revenue service now the president has had that designated they're working

00:31:01.000 on it over at treasury and uh the president's talking about a trillion dollars coming in on

00:31:05.080 tariffs so you you think you've had a pretty good first year sir okay yeah i think we've had a great

00:31:10.680 year especially you know the business media casts a light that oh we rate we have 2.2 trillion dollars

00:31:18.200 paid in income tax and that's too much to replace however the thing that stands out to me is that 600

00:31:23.800 billion by 2022 numbers is what 90 percent of the lower uh income taxpayers pay in america imagine

00:31:31.160 replacing 90 percent of the income tax that americans pay how much that would help the working families

00:31:38.600 in the middle class and i'm with you steve i think you've called for hey taxes on millionaires are

00:31:42.840 okay but let's help the working class and uh the the people trying you know where an extra 500 bucks

00:31:48.680 a month really gets them a lot farther and we can replace 600 billion of that easily and you know

00:31:54.680 i want to remind the president here he posted this on truth uh last year uh where he said he was

00:32:00.680 creating the external revenue service on january 20th 2025 and that for far too long we have taxed our

00:32:07.160 great people using the internal revenue service and he's really trying to steer america back to the

00:32:14.360 original vision the founding fathers had the founding fathers never intended for the citizen to be an

00:32:19.880 indentured servant to the government and they proved this income tax was never a conversation with the

00:32:25.640 founding fathers ever uh the very first legislative act they passed was the tariff act and they passed on

00:32:32.360 july 4th which had a lot of meaning for the founding fathers independence day and that first

00:32:36.360 major piece of legislation said whereas it is necessary for the support of the government for

00:32:40.840 the discharge of the debts of the united states and encouragement and protection of manufacturers

00:32:44.920 that duties be laid on goods wares and merchandise imported so they never had a plan to punish the

00:32:51.560 the the citizen and garnish their wages and i want to ask the audience who may believe in you know uh be

00:32:58.440 anti-tariff um what is a truly more limited government what provides more personal liberty to the

00:33:04.920 citizen it's been pitched to the american people that when you go to the store and you can choose

00:33:09.560 from chicon products or products from india and you don't pay a tariff that's more personal liberty

00:33:15.400 and you have more freedom of choice but i say and president trump is going to say and prove that you have

00:33:21.640 more freedom of choice when you can choose hey i'm going to buy a foreign good and i choose to be taxed or

00:33:27.320 i'm going to buy an american-made good and choose not to be taxed and not pay income tax that is a truly more

00:33:33.480 limited government when we remove income tax on the citizen and we pay our bills with external

00:33:39.640 revenue and i you know you know what is more freedom of choice buying something and saying i

00:33:46.120 choose to be taxed or buying an american-made good and say i choose not to be taxed and not have income

00:33:51.640 tax and so that's why i believe external revenue and tariffs actually are more limited government and

00:33:57.800 they actually are more personal liberty for the citizen and on the note of personal liberty the 16th

00:34:01.800 amendment which created income tax has no boundaries on it the 18th amendment was passed uh prohibiting

00:34:10.360 alcohol or it would and we repealed it and the main reason we repealed the the prohibition on alcohol

00:34:16.760 was because personal liberty and i think it's time we start to look at putting some parameters on the

00:34:21.320 16th amendment and its intrusion in the citizen's life uh and and uh i think you know what fascinates me

00:34:28.840 the most steve is how did we get you know andrew breitbart said uh politics are downstream of

00:34:34.840 culture and how how did we get to the point in america where you know this is a 1919 ad uh from a

00:34:41.160 toy maker and he says for your country's sake buy american-made toys be a partner of uncle sam of all

00:34:47.000 american industries see that your money is helping american grow buying foreign toys won't do it that way

00:34:52.760 your money goes overseas and doesn't come back by insisting on american-made toys your money stays

00:34:58.280 here every bit of it to work for your own country and for you but now we're at the point in the

00:35:04.200 business culture that we have a toy maker suing the president and his administration because of

00:35:08.280 the tariffs and now it's in front of the supreme court where is the patriotic and moral fiber of

00:35:14.280 the business culture in our america and i believe it was eroded with this embrace of unilateral free

00:35:19.800 trade now i believe in free trade within the borders of our nation unilateral free trade and i

00:35:25.720 will i it means that no matter what another country does to us no matter how much they tariff us no

00:35:30.920 matter uh how much they steal our intellectual property we do nothing and this was advocated for

00:35:36.520 and and this is where the cultural disconnect and we need the next generation the turning points and the

00:35:41.400 prager use and all the the next generation to get this cultural shift away from tariffs are bad and

00:35:48.520 there let there be no doubt that milton freeman when he called for no tariffs he called for you

00:35:53.880 know no unilateral tariffs he says this is capitalism freedom page 88 i believe it would be far better

00:35:59.400 for us to move to free trade unilaterally and he went on and on about no matter what another nation

00:36:04.920 does but he didn't calculate what is the true cost of unilateral free trade he didn't calculate the

00:36:10.840 cost of national security the cost of intellectual property theft with communist china which is the 0.98

00:36:16.520 greatest transfer of wealth in the history of civilization the cost of our uh uh you know

00:36:21.640 cities dying uh you know the meccas of of industry dying and having the societal cost of paying for

00:36:28.360 homeless people and paying for drug rehab clinics those were not factored in the the cost of supply

00:36:33.480 chain issues and so you know i i think that we need to change our definition of free trade and unilateral

00:36:40.200 free trade to america first free trade and america first capitalism in my book i define america

00:36:45.880 first capitalism as a production-based economy protected by a wall of tariffs accompanied by

00:36:53.240 free trade only within our borders and the last note because i don't want to go on too much is

00:36:58.040 you know free trade really erodes the freedoms that capitalism builds unilateral free trade does

00:37:03.480 so much so in fact that karl marx encouraged free trade in his 1848 speech on free trade karl marx said

00:37:11.080 the free trade system hastens the social revolution it is in this revolutionary sense alone gentlemen

00:37:16.600 that i vote in favor of free trade free trade breaks up old nationalities and pushes the antagonism

00:37:22.760 of the proletariat and the bourgeois to the extreme point is that is that not what's happening in america

00:37:27.080 today and under free trade the whole class of small manufacturers is ruined and thrown into the ranks of

00:37:32.920 the working class this is a direct quote from karl marx this is all happening in america today and

00:37:38.760 and and you know it's it's no one who cares about america should desire the ruin of the whole class

00:37:43.480 of small manufacturers so people who side with unilateral free trade or siding with capital karl

00:37:48.520 marx because he thought free trade would hasten the fall of capitalism so um i'm really excited to

00:37:54.600 see how president trump's steering us more in alignment with the founding fathers vision for america

00:37:59.320 and away from the economist dogma that has really how do we yeah nope go ahead real quickly because

00:38:08.120 we've got great you know we got 30 percent export growth 30 percent import drop the smallest trade

00:38:14.680 deficit we've had the big guys are on board how are we going to revolutionize for the small what i love

00:38:19.880 about you is your renaissance of american industry and manufacturing through i think people that have

00:38:27.240 factories with 50 employees or less manufacturers to the way the country used to be in these little job

00:38:32.440 shops how do we how do we rejuvenate that well the the numbers are 90 of uh uh american manufacturing

00:38:41.960 companies are 50 employees or less 75 or 20 employees or less and and and this is the one that always

00:38:47.640 gets me 48 of american manufacturers are five employees or less and that's really you know president

00:38:53.960 trump uh just kind of said no dividends and no ceo uh pay for the the big primes and and because he was

00:39:01.240 wants them to speed up their production and that's great i i i agree with that but where where their

00:39:07.720 snap where where their the bottleneck is in the supply chain is with the small manufacturers because

00:39:13.000 they're the tier two three and four suppliers that the big companies rely on the big companies a big

00:39:17.400 factory doesn't they don't make everything they don't make all the inputs that go into their stuff

00:39:21.240 and so you know secretary hegsteth was just out here touring the big factories in el segundo and around

00:39:27.320 and there doesn't seem to be a understanding of what the small manufacturers need and that they are

00:39:33.720 the true engine of uh production in america and uh you know what what we need is access to capital

00:39:41.160 you know the sba i'm sorry to say i i i don't like to say negative things but they really haven't done

00:39:46.840 much for the manufacturers they increase the line that you can get from five million to ten million which

00:39:51.480 a lot of guys that are five and twenty man shops don't need uh they waived fees if you're in a

00:39:56.200 certain nace code for borrowing big deal it's 10 20 grand amortized over 25 years and they have this

00:40:01.720 new loan the mark loan which basically just has manufacturing the title it's the same as a former

00:40:07.000 cap line loan and here's the biggest thing it needs lender adoption that's the biggest thing sba can do

00:40:12.600 everything they want but lenders need to adopt agree to lend with like this and first it needs to pass

00:40:18.840 congress so we're looking at a year or two out that's going to be three quarters of the way through

00:40:23.080 the administration we need to do something now to get capital to the smaller manufacturers and and

00:40:27.880 some of the um policies have you know we need to build refining capability here in america because

00:40:34.760 material prices are going through the roof for the manufacturer and i i know for a fact from a

00:40:39.800 lot of my guys there it's limiting hiring within industry um you know manufacturing employment's going

00:40:45.720 down uh manufacturing industry itself has been in contraction for the last 10 months i'm sad to say i think

00:40:52.040 a lot of i think president listen president trump is doing his job he's building he's getting us

00:40:56.920 cheap energy he's out there getting rare earth deals he's getting the the foundational building

00:41:02.040 blocks for a manufacturing economy in place he's only one guy he can only do so much the rest of the

00:41:07.960 administration needs to follow his mandate and really understand that if we want to get

00:41:11.800 manufacturing going it's the smaller guys but you know president trump is the man is do as a person is

00:41:17.480 doing his job he can't do anymore but i think there's a i mean how many voices in the administration

00:41:22.920 are for small manufacturers i mean you know how many of them have owned small manufacturing companies

00:41:28.600 not c-suite john deere guys then they don't listen uh you know i me and friends try to approach the

00:41:35.400 administration and there's there's one quote i don't want to sell out a friend but basically a friend

00:41:41.240 of mine who has a critical aspect of american manufacturing critical critical was told you

00:41:47.640 know loans from the government to his facility were communist so there again it's the free trade idea

00:41:52.760 the government shouldn't pick winners and losers when it comes to industry but it's okay to pick

00:41:56.440 winners and losers with farmers it's okay to give argentina 20 billion dollars it's okay to you

00:42:01.640 know give other countries foreign aid but hey we gotta we gotta be careful when uh when we're

00:42:07.080 helping manufacturers because we don't want to look like communists which most of the countries

00:42:11.400 subsidize their manufacturing industry so uh i don't know if that answers your question c but you

00:42:16.040 know we really need the administration to start listening to us and some of the things that john

00:42:21.560 john where can people go and get more information on um on everything you're talking about people

00:42:26.200 were quite a website topic particularly the rejuvenation of small manufacturing where they go

00:42:31.160 uh john gardner author.com and on x getter and instagram john gardner v o h and uh my new website

00:42:40.760 thank you brother appreciate you thank you steve thanks for having me on it's john gardner what

00:42:46.120 hold on where's what's the new website i want people to go to it and check it out john gardner author.com

00:42:51.480 thank you brother appreciate you great work the rejuvenation the next phase is the rejuvenation of

00:42:59.960 small manufacturing like john said what is it uh 90 percent of manufacturers in this country are under

00:43:08.680 50 employees just absolutely incredible birch gold a lot of turbulence uh gold near an all-time high

00:43:14.520 silver near an all-time high it ain't the price it's the process of how it got there particularly

00:43:19.240 over the last couple of years you need to understand the centrality of the dollar as

00:43:26.120 the prime reserve currency in your in your life so check it out birchgold.com promo code

00:43:32.440 abandoned the end of the dollar empire it gives you direct access to philip patrick and the team

00:43:38.680 make sure you go talk to philip patrick the team they can tell you all the different ways you can get

00:43:42.760 into gold physical gold with i don't know iras 401ks all of it most importantly they will

00:43:49.000 teach you why gold has been a hedge against times of financial turbulence for thousands of years

00:43:56.440 why is gold gold they'll teach you trust the process short commercial break we're gonna turn

00:44:03.720 in the world going to texas next uh amazing amazing event yesterday got a bunch of texans here to talk

00:44:11.480 about it next imagine having the world's most connected financial insider feeding you vital

00:44:25.960 information the kind of information only a handful of people have access to and that could create a

00:44:33.000 fortune for those who know what to do with it that's exactly what you get when you join our frequent

00:44:39.640 guest and contributor jim records in his elite research service strategic intelligence inside

00:44:47.640 strategic intelligence you'll hear directly from jim and receive critical updates on major financial and

00:44:53.480 political events before they hit the mainstream news he'll put you in front of the story and tell you

00:44:59.880 exactly what moves to make for your best chance to profit as a proud american you do not want to be

00:45:06.600 caught off guard sign up for strategic intelligence right now at your our exclusive website that's

00:45:12.760 rickardswarroom.com rickardswarroom.com you go there you get strategic intelligence based upon predictive

00:45:21.560 analytics do it today right now rickardswarroom.com war room here's your host steven k van

00:45:30.600 brian harrison joyce so brian we had this event we're going to play clips at the top there i want to

00:45:40.200 thank real america's voice patreon mobile everybody that put this on uh from grant stinchfield to

00:45:45.640 everybody uh americans a freedom american freedom alliance karen but you know there's a primary on the

00:45:53.000 third there's this uh proposition on the ballot ban sharia law uh from texas however i thought sharia law was

00:46:01.240 already banned and i thought the muslim brotherhood and care have already been designated as terrorist

00:46:06.440 organizations so what's the hubbub bub well you got it half right you know the governor governor abbott

00:46:14.360 very correctly did designate uh care and the muslim brotherhood as terror organizations that's the 1.00

00:46:19.960 correct thing to do i'm grateful he did did it absolutely um as to the uh the i i you would be

00:46:27.000 forgiven for thinking that texas has banned sharia law because there has been no shortage of gaslighting

00:46:32.280 coming out of the austin establishment uniparty for a long time putting out public proclamations that

00:46:38.120 texas has banned sharia law the only problem with this is that uh i'm in the legislature i i know the

00:46:45.000 laws we have and that we vote on and um yeah there is no such law that has been voted on

00:46:50.360 really at all and in fact it gets worse you know people talk about this this sharia compound down

00:46:54.840 here that's going up this epic city um and they they bragged that we passed a law to ban epic city

00:46:59.880 you know the problem with that though steve in the law to quote ban epic city there was an exception

00:47:06.280 put into the law to exempt epic city so yeah so the problem is we've got a bunch of performative

00:47:13.640 theater going on down here in the run-up to the primary and texans don't want rhetoric they want

00:47:18.760 results so if we're going to designate care and muslim brotherhood as as terror organizations which

00:47:22.680 they should be let's let's have some investigations where are the arrests if we're going to say that

00:47:27.960 the position of the texas government is that we have banned sharia law the most important thing

00:47:32.280 people might take away from this interview is that texas hasn't banned sharia law but we could and so

00:47:37.240 i actually think the texas legislature because the texas people demand actions not just rhetoric uh we

00:47:42.520 should start doing things right now we should do uh oversight we should have legislative hearings

00:47:47.560 to help educate the the texans who may not understand the truth that we haven't banned sharia

00:47:52.040 law and the threat from sharia law so we should have legislative hearings and we should start doing

00:47:56.120 it right now we shouldn't wait a couple years texans deserve action and they deserve it now

00:48:03.720 let's go back to this this this speaks to a larger problem and i want to pull the camera back just for

00:48:10.600 a second because it's the same thing the frustration the mega base on with capitol hill what i call the

00:48:15.480 duma right it's not a congress anymore it's the duma it's politics as performance art yeah it's to do

00:48:22.120 this is all it's all performance art and then it it only doesn't change it actually gets worse because

00:48:29.080 the theater kids have put up the performance and people say hey that's been taken care of they

00:48:32.920 talked about that we did that you let's get on to a new problem sir no that's exactly right i mean

00:48:38.840 they do the absolute bare minimum that they think they have to do to get away with it because the

00:48:43.640 only thing they care about most elected officials is their next re-election they don't care about

00:48:48.360 the voters they forget about the voters the second they get elected and the problem both in the u.s

00:48:52.920 congress by large and the texas legislature which by the way still lets the radical leftist

00:48:58.200 marxist progressive democrats completely control the texas house of representatives they still elect our

00:49:03.560 speaker the democrats um what they do is they they've turned their backs on the people they're

00:49:08.760 supposed to work for to embrace popularity complacency and comfort in the swamp and so

00:49:14.760 they pass you know a bill that might have a good title or headline but the reality is the substance of

00:49:20.520 the bill either doesn't do what it's supposed to do or it actually undermines the objective goal

00:49:26.040 here and the reality is that the elected establishment in the texas government for far too long has been

00:49:31.320 telling the voters they're going to stand up to the radical leftist but they've actually been

00:49:34.840 empowering them and texans have been lulled into a sense of complacency by many elected republicans

00:49:39.880 assuring them that the problem is solved and mailers are going out all across the state of texas right

00:49:43.720 now misinforming people saying we have banned sharia law and the gaslighting has got to stop and the

00:49:50.520 only way we've been able to deliver real conservative victories you and the posse know this better than

00:49:54.440 anybody is when we hold the establishment's feet to the fire congress has made itself largely

00:49:59.560 irrelevant and the texas legislature has made itself largely irrelevant in the sense that we're

00:50:04.360 not doing real oversight for example we're still funding the lowest hanging fruit here we should

00:50:09.080 stop funding radical violent islamist organizations that have ties to terror

00:50:14.360 affiliated organizations that advocate the overthrow of the united states and unfortunately

00:50:18.840 we have tens of millions of dollars at least likely going to these to these organizations and

00:50:24.280 we should stop doing things like that we need we need less theater more action more results because

00:50:29.880 the stakes couldn't couldn't be had the videos you're seeing coming out of what happened in london

00:50:33.560 with the results of unchecked mass migration that could absolutely happen here in texas and the

00:50:38.920 austin swamp they're trying to silence my voice and trying to take me out in seven weeks and

00:50:42.680 trying to take out anybody who demands accountability and is able to go directly to the american people

00:50:48.600 and the people of texas like the posse like you do steve and demand results not just rhetoric and

00:50:55.080 that's why we got to start doing more legislative oversight legislative hearings let's go let's have

00:50:58.840 special sessions there's no need to wait till next year to start debating something that maybe we'll

00:51:02.440 do in two years let's get action on sharia law in 2026 texans do not need to be forced to wait

00:51:08.920 two more years and quite frankly texas nor america can afford you know

00:51:11.720 are you notifying the speaker i mean how do we get the oversight the special session will come

00:51:17.560 later but how do you get the or how you get the oversight immediately so you can have hearings that

00:51:21.240 are public and the folks in texas can see what people actually say when they're there in in front

00:51:26.520 of you guys that's a great question so yes i will be formally uh submitting a request to the speaker

00:51:31.480 and most of the time people do this very quietly uh you know under the radar i don't intend to be

00:51:36.120 quiet about this uh i intend to be very public that both the texas house where i serve but also

00:51:41.080 the texas senate could do this too the texas legislature must get its head out of the sand 0.99

00:51:47.800 and right now in the next couple months we need to start having very public televised public

00:51:54.520 legislative oversight hearings on the threat posed from radical jihadists on the threat from the

00:52:01.320 massive expansion of sharia law and possible sharia compounds and no-go zones in the state of texas

00:52:09.720 so there's no reason that they should not do it and i'll tell you right now steve uh i look forward

00:52:14.040 to talking to you about this as we go forward because the only way that's going to happen

00:52:17.320 and i'm going to be as loud about this as i possibly can as an elected member of the texas

00:52:20.920 legislature but the only way we're going to do this is the same way we knocked off the president of texas

00:52:25.240 a&m ended the biggest dei program stopped illegals from registering vehicles it's if the grassroots

00:52:30.600 freedom-loving patriots and the posse melt the phone lines of the establishment under the corrupt pink 0.90

00:52:36.280 dome in austin in demand action but you know what steve we've had a lot of successes just in the

00:52:40.680 last uh several months and there's no reason we uh we can't have some optimism that we can have some

00:52:45.320 success here but the reality is we have to the future western civilizations on the line as you say

00:52:50.040 all the time as goes texas so goes america as goes america so goes the world texas is on the front line

00:52:56.280 in the battle for the future and the next generation we yeah

00:52:59.560 20 seconds your uh your social media feed where do people go uh please go uh at brian

00:53:07.000 e harrison on x at brian e harrison please like follow share at brian e harrison and then the

00:53:12.760 swamp is trying to take me out in the primary so go to vote brian harrison.com and help out there

00:53:16.840 vote brian harrison.com always great to be with you steven and a great event last night by the way great job

00:53:23.800 thank you sir

00:53:24.440 holidays are here and while the rest of the world follows the script written by big pharma real

00:53:33.400 americans are taking control of their own health you do not need permission from a corporate medical

00:53:39.800 machine to care for yourself that is where all family pharmacy comes in it is simple go to all

00:53:46.520 family pharmacy.com slash bannon that is one word all family pharmacy.com place your order online

00:53:54.600 and a licensed physician reviews it once approved your medication is shipped directly to your home

00:54:02.280 whether it's ivermectin antibiotics or your everyday medications they have you covered everything is

00:54:09.480 handled quickly privately and securely this holiday season don't let big pharma or the government

00:54:16.840 tell you how to stay healthy visit allfamilypharmacy.com slash bannon and save 10 percent with code bannon10

00:54:26.600 take control of your health stay independent stay free and stay healthy

Bannon's War Room - January 10, 2026

Episode 5058： The Execution Of Trump's Economic Revolution

Episode Stats

Summary

Transcript