The Ben Shapiro Show - Eat The Rich | The Ben Shapiro Show Ep. 894

00:00:00.000 Elizabeth Warren's wealth tax is a full-scale disaster, Bernie campaigns with AOC, and Democrats open up those public impeachment hearings.

00:00:07.000 I'm Ben Shapiro.

00:00:07.000 This is The Ben Shapiro Show.

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00:00:23.000 Well, I have a lot to get to today.

00:00:23.000 Okay.

00:00:25.000 We're going to be talking about the latest in impeachment, but I really do want to talk about this attack on billionaires.

00:00:30.000 Ooh, the evil billionaires.

00:00:31.000 We'll get to that in just one second.

00:00:33.000 First, if you're looking at the way that the left is attacking free market capitalism right now, if you're looking at the way that the left is attacking laissez-faire and your ability to keep your own wealth, and you're thinking, okay, if Elizabeth Warren becomes the president of the United States, God forbid, she's just going to start playing around with all the mechanisms that allow wealth to grow.

00:00:51.000 Maybe you're thinking, maybe I shouldn't invest in the U.S.

00:00:53.000 Maybe I should invest instead in something a little bit more solid, like gold.

00:00:53.000 dollar right now.

00:00:57.000 Well, a lot of other people are thinking the same thing.

00:00:58.000 Gold is right now sitting at its five-year high.

00:01:00.000 I've been telling you for years that gold is a safe haven against uncertainty and chaos in the markets.

00:01:04.000 Well, Democrats are certainly going to exacerbate all of that. 0.98

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00:01:15.000 Again, it makes sense for my portfolio.

00:01:16.000 You should be diversified at least a little.

00:01:18.000 I'm not talking liquidate all your assets and buy bars of gold.

00:01:21.000 I'm talking take some of your money, put it in precious metals.

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00:01:42.000 Okay, so...

00:01:46.000 The ramping up of attacks on wealth in this country, it's happening at an extraordinary rate.

00:01:53.000 And it starts off as these attacks on quote-unquote billionaires.

00:01:56.000 And then pretty soon the left realizes that there's not enough money with the billionaires to just attack the billionaires.

00:02:00.000 Then it turns into an attack on millionaires.

00:02:02.000 Then pretty soon it turns into an attack on people who make more than $500,000 a year.

00:02:06.000 Then pretty soon it turns into an attack on people who make more than $2,200,000 a year.

00:02:10.000 What you will see is that the bar for becoming rich in this country is going to continue to decline.

00:02:15.000 Obviously, if you're a billionaire, a millionaire, someone making half a million bucks a year, you're doing fine.

00:02:18.000 But, the fact is, that to support the kind of social spending that Democrats want, to support the kind of market regulations that Democrats want, tax rates don't just have to be high on wealthy people.

00:02:28.000 They have to be exorbitant on people who are middle class.

00:02:30.000 Which is why, if you go over to all the Scandinavian countries that the left loves to cite as socialist havens, even though they are capitalist countries with heavy social safety nets, if you go over to Norway, if you go over to Denmark, if you go over to any of the places that the left truly loves, massive middle class tax rates.

00:02:44.000 Hi, middle class tax rate.

00:02:45.000 Now, Bernie Sanders will tell you this.

00:02:47.000 Elizabeth Warren will not.

00:02:48.000 And Elizabeth Warren is getting away with lying about all of this by talking about her so-called wealth tax. 1.00

00:02:52.000 Well, she's just going to tax the people who are the billionaires. 1.00

00:02:55.000 It's going to be the billionaires tax.

00:02:57.000 People who are worth $50 million and more, those people are going to experience a wealth tax.

00:03:01.000 And if you look at the polls, this polls pretty well.

00:03:03.000 Why?

00:03:04.000 Well, because the natural human instinct is to say, well, those people have enough money.

00:03:08.000 What's the big deal if we just take all their money?

00:03:10.000 If we just take more and more of their... And it's not all their money.

00:03:13.000 It's 2% of their wealth every year.

00:03:15.000 Why is that a big deal? 0.94

00:03:16.000 Well, right now I want to explain to you why all of that is a big deal, and why this is a very stupid idea, why it's an unworkable idea, why it's a counterproductive idea, why it will actually hurt the economy for you. 0.90

00:03:25.000 Not just for billionaires, not just for people who are very wealthy, but for you. 0.55

00:03:29.000 Because the fact is that tax policy is intimately involved with the future growth of the United States economy.

00:03:35.000 Now, the left seems to think That you can just run into wealthy people's houses, steal all their stuff, and that this will, like, every year do it, and that this is not gonna have any impact on the American economy or the global economy, on investment rates, on tax avoidance.

00:03:49.000 They don't seem to understand the elasticity in markets, that when you change the incentive structure for people, their behavior also changes, that if you seize wealth from people, the way that they behave changes, the way they invest changes, and that has impacts that ripple out beyond whether Bill Gates can buy his 100th car.

00:04:06.000 And they seem to believe that you can just confiscate wealth and that wealthy people will act exactly the same, that it doesn't change the nature of the economy at all.

00:04:14.000 It's a fixed pie, so if we just grab more from the rich people, what's the big deal?

00:04:17.000 How does that affect anything?

00:04:18.000 Okay, well, let's go through the wealth tax and let's talk about Elizabeth Warren's proposal, which, by the way, it used to be 2% per year, the wealth tax.

00:04:25.000 But then when she made her Medicare for All proposal, she ramped that up to, I believe, 6% per year in wealth tax. 0.98

00:04:31.000 So first of all, let's distinguish a wealth tax from other kinds of tax.

00:04:35.000 An income tax is based on the amount of income you make.

00:04:37.000 I get a salary.

00:04:38.000 I make a certain amount of income.

00:04:40.000 I have a business.

00:04:40.000 I take a certain amount of income.

00:04:42.000 And now, I pay a certain amount of tax on that income.

00:04:45.000 There's graduated income tax rates.

00:04:47.000 Once you get to the top tax rates, you're paying something like 35% in top tax.

00:04:51.000 If you're in the state of California, you're paying 35% plus 12% is the top tax rate.

00:04:55.000 So you're paying a lot of money.

00:04:57.000 You're paying a lot of money.

00:04:58.000 And the talk of how people at the top of the income tax bracket are not paying a lot of money is just a lie, okay?

00:05:04.000 The idea that rich people are not paying their fair share is absolutely untrue.

00:05:07.000 Richard Epstein, who is a law professor over at University of Chicago, and he also writes for the Hoover Institute, he says the fraction of total taxes paid by the 90% of the population has shrunk over the last 35 years.

00:05:19.000 The bottom 90% of the population.

00:05:21.000 So you keep hearing that it's the middle class bearing the burden of taxes these days.

00:05:24.000 Absolutely false.

00:05:24.000 Complete lie.

00:05:25.000 90% of the population Their tax burden has shrunk over the past 35 years from about 50% of the total tax burden to about 35%.

00:05:32.000 That means 90% of the population is paying 35% of the total tax.

00:05:37.000 Currently, about 40% of all total taxes are paid by the top 1%.

00:05:40.000 So those 1%ers, those evil 1%ers, they are supporting 4 in 10 tax dollars. 1.00

00:05:43.000 4 in 10.

00:05:43.000 1%ers, they're supporting 4 in 10 tax dollars.

00:05:46.000 4 in 10.

00:05:47.000 Top 1%.

00:05:49.000 And you say, well, maybe they have all the income.

00:05:51.000 They don't, okay?

00:05:52.000 They're earning about 20% of the income.

00:05:55.000 So, they earn 20% of the income, the top 1%, and they pay 40% of the total tax burden.

00:06:00.000 If you pile on top of that a massive wealth tax, that's a pretty big deal.

00:06:04.000 Especially because when you're talking about taxing wealth, you are not talking about taxing income.

00:06:10.000 Okay, first of all, there's this lie that has to be debunked very quickly, which is that the people at the top are getting very wealthy and everybody else is getting poorer, and this is not true.

00:06:18.000 As Emmanuel Saez and Gabriel Zucman, who are Elizabeth Warren's basically official economists, and they're not very good at their jobs, point out, the yearly increase in wealth for the top 0.1% between 1980 and 2016 has averaged about 5.3%, but the general average in the United States is 2.5%, so everybody has been increasing, it's just the people at the very top have been increasing, then people lower down.

00:06:39.000 Okay, so the question becomes, why is that innately a horrible thing?

00:06:44.000 Just because somebody is doing better than you doesn't mean that you are doing poorly.

00:06:47.000 Stop looking over your shoulder at the guy who lives next door.

00:06:49.000 As I've said before, if you own the mansion next door to Bill Gates, there's a tremendous amount of income inequality between you and Bill Gates.

00:06:55.000 But you're still living a pretty good life.

00:06:56.000 I mean, you're living next door to Bill Gates.

00:06:58.000 I assume you're not living in a box, right?

00:06:59.000 You're probably living in a very nice house right next to Bill Gates.

00:07:02.000 Okay, so, the difference between a wealth tax and the income tax is that the income tax is measured by your income.

00:07:09.000 A wealth tax takes your entire asset base and then forces you to have that assessed every single year, and then they take 2% of your wealth base.

00:07:18.000 So, let's say that you are a business owner.

00:07:21.000 You're not somebody who is cashed out of your businesses and you just have stocks.

00:07:24.000 You're a business owner, okay?

00:07:26.000 In your business, it's an $80 million business, and you are the sole owner of that $80 million business.

00:07:31.000 Now, does that mean that you're making $80 million a year from that business?

00:07:35.000 No, it absolutely does not.

00:07:36.000 It absolutely does not, right?

00:07:38.000 Because the fact is that if you own a business, the vast majority of the money in your business is poured back into running the business.

00:07:43.000 But let's say that you own a business that is valued at $80 million.

00:07:46.000 How would you value that?

00:07:47.000 Well, maybe you value it by using a three times EBITDA.

00:07:50.000 Right?

00:07:51.000 Earnings before interest tax and interest in taxes.

00:07:54.000 Let's say that you value it that way.

00:07:54.000 Right?

00:07:57.000 And let's say that now that it is assessed at $80 million.

00:07:59.000 Well now, you're gonna have to pay presumably 2% of that amount.

00:08:03.000 So you're paying, let's see, $1.6 million.

00:08:06.000 $1.6 million to taxes.

00:08:08.000 That could be your entire profit margin on that business.

00:08:11.000 That you're paying.

00:08:11.000 Right?

00:08:12.000 Because again, you're valuing the wealth and then you are taxing the wealth.

00:08:16.000 That's very different from you have a certain amount of stock and the stock is publicly traded and we know how much that is worth and so we force you to liquidate some of that stock.

00:08:23.000 Even that is a bad idea.

00:08:25.000 Because again, you haven't sold the stock.

00:08:26.000 You haven't realized the gain.

00:08:27.000 You haven't realized the loss.

00:08:29.000 So imagine for a second that you have tons and tons of stock.

00:08:33.000 And let's say that it's 2008 and the stock market has just plummeted.

00:08:36.000 You haven't actually realized the value of the stock, right?

00:08:38.000 You've taken a hit, but you haven't actually sold, right?

00:08:40.000 Warren Buffett was once asked, how much money did you lose during the Great Recession?

00:08:44.000 And he said, I didn't lose any because I didn't sell my stock, right?

00:08:46.000 It's only a loss that is realized when you sell your stock.

00:08:48.000 But according to the wealth tax, every single year, Warren Buffett's stock would have to be valued, and then you would take a portion of that value and you would assess that as a tax.

00:08:57.000 Even though he has not actually sold the stock, right?

00:08:59.000 He's not actually realized any gain from the stock.

00:09:01.000 It's just sitting there.

00:09:02.000 But every single year they would take a percentage of that value.

00:09:05.000 Okay, how about your property?

00:09:06.000 Your property would be reassessed every single year.

00:09:09.000 And then, by what, Zillow?

00:09:11.000 And then, you would have to pay a percentage of what that property is worth, 2% per year.

00:09:15.000 Okay, the same thing would go true for all of your other stuff, right?

00:09:18.000 It'd be true for, let's say you own a painting.

00:09:20.000 Let's say you own the Mona Lisa and it's worth $50 million, or is it worth $100 million?

00:09:26.000 Because at the upper end of the art market, there's a tremendous amount of vagary in terms of what things are worth.

00:09:26.000 Who knows?

00:09:31.000 After all, there aren't that many buyers at the upper end of the market.

00:09:33.000 So it could be worth 50, it could be $100 million.

00:09:35.000 Well, that's a pretty significant difference in terms of what you're paying in tax.

00:09:39.000 The costs of compliance on this sort of thing are extraordinary.

00:09:42.000 This is why the estate tax, which, by the way, is immoral.

00:09:44.000 The estate tax is immoral.

00:09:46.000 The reason that it is immoral is because you paid taxes on this stuff your entire life, and just because you die and hand it to your kids, which was the purpose of you handing wealth, now the government pries open your safe and just takes your money.

00:09:55.000 They walk over your dead body to take your money so your kids can't have it, even though you've paid taxes on that income your entire life.

00:10:01.000 Elizabeth Warren is doing the same thing.

00:10:02.000 It's confiscatory, right?

00:10:03.000 You pay taxes on all of this income for your entire... You paid 35, 40% taxes, right?

00:10:09.000 I pay very high tax rates.

00:10:10.000 At a certain point, presumably, I won't be running this business anymore, right?

00:10:13.000 And then I'm gonna have to pay taxes again for the sin of what?

00:10:13.000 I'll retire.

00:10:16.000 Having run the business and paid taxes for years and years and years on end?

00:10:19.000 On a basic moral level, this is immoral. 1.00

00:10:21.000 But on an effective level, it's also stupid. 0.99

00:10:23.000 The reason that it's stupid is because you know how much it takes to actually Do the compliance with a liquidated wealth tax this way? 0.99

00:10:31.000 You have to have every value item that you have assessed every single year. 0.97

00:10:36.000 Now, in the case of the estate tax, maybe that makes sense.

00:10:40.000 At least then, the estate taxes are like up to 40%, so the government is making a bunch of money, so it makes sense to force you to do all that stuff.

00:10:46.000 But for a 2% total, as Warren is proposing, The amount of compliance that the IRS would have to check would probably cost more than the amount of money that they would get from the tax itself.

00:10:56.000 This is what Richard Epstein points out.

00:10:58.000 He says the administrative costs of imposing a 2% wealth tax on persons whose net worth is, say, $55 million would surely surpass the $100,000 the tax would generate.

00:11:07.000 Just imagine how much it will cost the IRS to process 75,000 tax returns that Saez and Zucman predict will be filed annually.

00:11:15.000 Also, as Epstein points out, when you are very wealthy, and then you don't take that money and you don't invest it, because why would you possibly invest it?

00:11:21.000 Because they're just going to assess you, and then they are going to take money away from you, so why wouldn't you just leave it in cash, presumably, or stock it in overseas assets, or move overseas altogether?

00:11:30.000 This would have an impact on GDP.

00:11:32.000 It would have an impact.

00:11:34.000 You're gonna force people to liquidate their businesses.

00:11:36.000 You're gonna force people to sell their businesses.

00:11:37.000 This happened in France.

00:11:39.000 Rich people were forced to sell their businesses because the profit margin they were making from the business was not enough to outstrip the actual tax that they were paying from the business.

00:11:46.000 So instead, they sell the business.

00:11:47.000 Or let's say that you have a stock.

00:11:48.000 Let's say that you're Jeff Bezos and you own a ton of Amazon stock.

00:11:51.000 And every year, you're gonna be forced to liquidate 2%, $2 billion worth of your stock, for example.

00:11:58.000 So you sell it on the open market because you have to liquidate it to pay the tax.

00:12:01.000 What do you think that does to the price of the stock?

00:12:03.000 You're now flooding the market with Amazon stock.

00:12:05.000 What do you think that does to the Amazon stock?

00:12:06.000 It sends it down.

00:12:07.000 You have now increased the supply without increasing the demand for the stock.

00:12:11.000 So what exactly are you doing?

00:12:13.000 You're lowering the price.

00:12:14.000 Well, it turns out Jeff Bezos isn't the only investor in Amazon, guys.

00:12:17.000 It turns out there are a lot of 401ks tied up in the stock market.

00:12:21.000 As Richard Epstein points out, a 1% decline in GDP of $200 billion could largely wipe out the supposed revenue gain of the wealth tax.

00:12:28.000 Most rich people do not idly count their wealth sitting under palm trees.

00:12:31.000 They continue to reinvest it in new projects that require both equity and debt capital.

00:12:35.000 When a wealth tax of $5 or $10 million comes due, it could require an entrepreneur to liquidate part of his business or to divert his assets from investment and business growth To the payment of taxes.

00:12:45.000 And guys, this isn't speculative.

00:12:46.000 I'm gonna give you real world examples in a second of how the wealth tax has actually been a giant fail before.

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00:14:18.000 Alrighty, so.

00:14:19.000 We've had some experience with the wealth tax.

00:14:21.000 The wealth tax has been tried before.

00:14:22.000 It was tried in France.

00:14:23.000 It was a giant fail.

00:14:24.000 David Andelman wrote for CNN, about 42,000 millionaires left France between 2000 and 2014.

00:14:31.000 According to the financial paper, less echoes.

00:14:33.000 Many of them decamped to other countries like Belgium or Portugal, which boasts a flat tax of just 28% on income from interest in investment for expatriates and no wealth tax.

00:14:42.000 Eugenio Carrera, a French accountant, pointed out to me that an estimated 15,000 French expatriates have taken up residence in Portugal, many of them eager to flee the French tax system.

00:14:51.000 One French tax consultant, Eric Pinche, estimated that the wealth tax earned the government some $2.6 billion a year, but it cost more than $125 billion in capital flight every single year from 1998 to 2006.

00:15:03.000 Because if you're rich, you know what you can afford to do?

00:15:05.000 Move.

00:15:06.000 You can't.

00:15:07.000 Now, the way that Elizabeth Warren intends on stopping this is she intends on grabbing like 40% of your total wealth if you try to move. 1.00

00:15:14.000 Which, by the way, you're now creating an economic Berlin Wall.

00:15:17.000 We are actually going to confiscate your wealth if you leave.

00:15:19.000 That's how you know you're running a crappy economy is when you're saying to people, and if you try to leave, we're going to grab all your wealth.

00:15:25.000 That's pretty terrible stuff.

00:15:28.000 You know, like, this is the policy, generally, of dictatorships. 0.76

00:15:31.000 And when dictatorships try to confiscate everybody's wealth, and they're like, okay, and if you leave, we're gonna grab all your crap, and you're not gonna take any of it with you. 0.77

00:15:38.000 That's bad stuff. 0.95

00:15:39.000 That's bad.

00:15:39.000 By the way, if you think billionaires can't see this coming, you are wrong.

00:15:43.000 If Elizabeth Warren is elected, people will move the next day.

00:15:46.000 Not like a year from now, not two years from now.

00:15:48.000 They will all do it like now because they will figure the chances that Elizabeth Warren passes this sort of thing are not horrible.

00:15:54.000 Now, it is unconstitutional.

00:15:56.000 I mean, it is worth noting that the wealth tax is unconstitutional.

00:15:59.000 The 16th Amendment specifically allows the income tax, but the fact is that Article 1, Section 9 of the Constitution says that no capitation or other direct tax shall be laid unless in proportion to the census or enumeration herein before directed to be taken.

00:16:13.000 In other words, if 30% of the population lives in New York, 30% of the tax money is supposed to come from the state of New York under the original Constitution.

00:16:21.000 The income tax was an explicit exception, and that was passed in the 16th Amendment.

00:16:26.000 One of the worst Republicans move in history, by the way.

00:16:28.000 The 16th Amendment only passes because Republicans want tariffs.

00:16:31.000 So they traded to the Democrats.

00:16:34.000 We'll get tariffs and you get the income tax.

00:16:36.000 Oh, the worst.

00:16:37.000 I mean, just the worst deal since the trade of LeBron.

00:16:40.000 It's just it's just the worst deal ever.

00:16:42.000 Wow.

00:16:43.000 But here's the big problem, putting all of that aside.

00:16:46.000 You think that rich people aren't going to leave?

00:16:48.000 A study by the Organization for Economic Cooperation and Development found that past attempts to tax wealth quote, frequently failed to meet their redistributive goals and encountered significant administrative problems.

00:16:59.000 And again, the people who are most disadvantaged by this are actually not the people who own massive publicly traded companies like Zuckerberg or Gates or Bezos.

00:17:08.000 The people who really get screwed are the people who are the people who own active businesses that are not publicly traded.

00:17:13.000 Because then your business is assessed every single year, and you can't defray the costs through public ownership.

00:17:19.000 Meaning right now, Jeff Bezos doesn't pay all the bills.

00:17:21.000 The investors, the shareholders pay all the bills.

00:17:24.000 But if you are the sole owner of a large business, then you pay all the bills, you may not take a profit this year, you may take a loss this year, and you're still paying an exorbitant wealth tax on the quote-unquote value of the business.

00:17:35.000 So what is this really about?

00:17:37.000 It's very easy.

00:17:37.000 This is really about class warfare.

00:17:38.000 It's really about Elizabeth Warren playing this game where she pretends that the rich people are the villains in our society. 1.00

00:17:44.000 And it's disgusting.

00:17:45.000 I'm sorry.

00:17:45.000 It truly is.

00:17:46.000 Mark Cuban slammed Elizabeth Warren as well he should.

00:17:49.000 The owner of the Dallas Mavericks.

00:17:50.000 He had a whole tweetstorm about Elizabeth Warren.

00:17:52.000 He said, The reality for Elizabeth Warren is that this is as much to divert attention from her income and net worth as anything else.

00:17:57.000 Other than Steyer, she's the wealthiest of all the Democratic candidates.

00:18:00.000 By far.

00:18:00.000 It's amazing, by the way, that nobody's pointing this out.

00:18:02.000 How is it that we are now eight months into the Elizabeth Warren campaign, and nobody has pointed out that she's worth $12 million?

00:18:08.000 She is worth $12 million.

00:18:10.000 The rich people are ruining the earth.

00:18:12.000 Okay, the difference between some people worth $12 million is that they've created a bunch of jobs.

00:18:16.000 Elizabeth Warren has not created a job, so far as I'm aware, other than the job that she created at Harvard Law for herself by falsely claiming she was Native American, allegedly. 0.87

00:18:25.000 Cuban says, according to her filings, she made $900,000 last year, which means her family earns more than two times the amount needed to be a one percenter.

00:18:31.000 She paid 25.5% of that in taxes, which is less than the percentage I paid in taxes, 29.85%.

00:18:38.000 By the way, that's because Mark Cuban is making some money off of his capital income investment.

00:18:42.000 The fact is that I am, last I checked, I think last year I paid a 48% effective tax rate.

00:18:48.000 Mark Cuban says Forbes says her net worth is north of $12 million.

00:18:51.000 That's being rich. 0.98

00:18:52.000 Filthy rich. 0.87

00:18:53.000 I'm sure it's richer than she ever imagined she would be.

00:18:55.000 Good for her.

00:18:55.000 She earned it.

00:18:56.000 It puts her millions above the threshold for being part of the richest 1% by net worth in our country. 1.00

00:19:02.000 That is 100% right.

00:19:04.000 Okay, Mark Cuban is correct.

00:19:06.000 The fact that Elizabeth Warren is misdirecting to rich people are really bad? 0.99

00:19:09.000 Yeah, lady. 1.00

00:19:09.000 Why don't you take a look in the mirror? 1.00

00:19:12.000 Sure, I'm very old.

00:19:12.000 Sure, I may be out of touch.

00:19:13.000 I mean, that is arrogant.

00:19:14.000 My favorite thing is Bernie Sanders and AOC.

00:19:17.000 So Bernie Sanders is now campaigning with AOC.

00:19:19.000 He's like, sure, I'm very old.

00:19:21.000 Sure, I may be out of touch, but here is a hip young woman who knows how to dance. 1.00

00:19:24.000 And AOC's like, he's like a father figure.

00:19:27.000 I mean, it's really bizarre.

00:19:29.000 Like she actually did a video where she was like, I didn't know my own worth until I saw Bernie Sanders.

00:19:34.000 Really?

00:19:35.000 You didn't know your own- Really?

00:19:36.000 That guy?

00:19:37.000 Like the old socialist who's never accomplished anything and has been living off taxpayer bucks for his entire adult life?

00:19:42.000 You saw him and you're like, oh, now I feel a sense of self-worth.

00:19:45.000 Now, now I feel as though I am really, truly a valuable human- Okay, so, for an exercise in weird quasi-Freudian Bizarro world campaigning.

00:19:58.000 Here is Bernie Sanders campaigning alongside AOC with Bernie Sanders saying that Michael Bloomberg, right?

00:20:03.000 Michael Bloomberg declared last week.

00:20:05.000 Michael Bloomberg is very bad, by the way, according to the left.

00:20:07.000 Not because of stop and frisk, right?

00:20:08.000 There's some people at the New York Times who don't like him over stop and frisk.

00:20:10.000 But the real reason Michael Bloomberg is bad is because he's a billionaire.

00:20:13.000 And we know billionaires are very bad.

00:20:15.000 The New York Times is saying this today also.

00:20:17.000 The New York Times has an entire piece today From Michael Tomasky, I'll get to in a second, talking about how billionaires are the worst among us.

00:20:25.000 I don't know when they transformed into being the worst, right?

00:20:27.000 They were okay before, like they're the same person when they were making 50 grand living in the garage and putting together the business.

00:20:33.000 Now they're just real rich.

00:20:34.000 But apparently there's, I've always been looking for this from the left.

00:20:36.000 Where's the dollar threshold where you cross over from being a person who's striving to make it to being an evil wealthy person?

00:20:43.000 Where is that dollar threshold?

00:20:44.000 Is it like when you make more than $100,000 a year and you get to $100,001 and then boom, Satan grabs you, and suddenly you are inhabited by the spirit of the demon, and suddenly you just hate everyone, you wanna fire everyone, you're a rapacious capitalist who pollutes the rivers. 0.99

00:20:58.000 It's a very stupid and puerile sense of what human nature is. 0.98

00:21:01.000 But in any case, here's Bernie Sanders blasting Michael Bloomberg, saying that it's arrogant for him to run. 0.99

00:21:05.000 You can't buy this election, Michael Bloomberg.

00:21:07.000 I love that Bernie Sanders says it's arrogant.

00:21:09.000 Okay, I'm just gonna point this out.

00:21:10.000 Bernie Sanders has not accomplished a thing, one, like zero things has he accomplished his entire life.

00:21:15.000 Anything.

00:21:15.000 He's not passed a single major bill.

00:21:17.000 He has not been behind a single major initiative that has passed in any way.

00:21:21.000 He's been wrong on nearly everything in his adult life.

00:21:24.000 When he wasn't campaigning shirtless in the USSR, he was backing the Venezuelans.

00:21:27.000 I mean, like, there is nothing Bernie Sanders has done that is worthy of praise, and yet he is a leading presidential candidate, and he's ripping on Michael Bloomberg?

00:21:35.000 Like, I ain't a Bloomberg fan, man.

00:21:36.000 The guy wanted to take away soda, and he had all these regulations about cigarettes, and he had all of this crazy big government nonsense.

00:21:44.000 But at least Bloomberg has achieved something in his life.

00:21:46.000 For Bernie Sanders to say, I should run the country on the basis of never having accomplished anything. 0.93

00:21:50.000 And he's like, Michael Bloomberg is a very arrogant man.

00:21:53.000 How dare he run just because he has money?

00:21:56.000 Well, Michael Bloomberg has actually done a thing or two.

00:22:00.000 You've done nothing except be old and rant at the moon.

00:22:04.000 Your entire career, and when he was 30, he was old, ranting at the moon.

00:22:08.000 Here's Bernie Sanders ripping into Michael Bloomberg with AOC at his side to provide him a hip, young cover, because she can dance. 1.00

00:22:14.000 Part of the reason why he's considering entering this race is because he doesn't think anyone can do the job that is currently in the field, not even you. 0.64

00:22:21.000 Not even me.

00:22:21.000 Well, you know, that is the arrogance of billionaires.

00:22:24.000 You see, when you're worth $50 billion, I guess, you don't have to have town meetings, you don't have to talk to ordinary people.

00:22:30.000 What you do is you take out, I guess, a couple of billion dollars and you buy the state of California.

00:22:36.000 But I happen to believe the American people are sick and tired of the power and arrogance of a billionaire class which increasingly controls not only the economic life of this country, but the political life of this country.

00:22:48.000 The power and arrogance of the billionaire class?

00:22:50.000 AOC has accomplished zero things in her life aside from getting elected to Congress in a pure blue district. 0.99

00:22:55.000 That is, Nancy Pelosi said, a bag of crap with a D on it could have gotten elected in that district. 0.98

00:22:59.000 Bernie Sanders has accomplished zero things in his life. 0.99

00:23:03.000 And he says, it's the powerful billionaires.

00:23:05.000 He wants to run a government that controls nearly every aspect of your life and taxes the living hell out of you.

00:23:10.000 But it's Bloomberg who's arrogant?

00:23:12.000 Now listen, I don't think that Bloomberg has a lack of ego.

00:23:14.000 But again, at least Bloomberg can make the case he's done a thing.

00:23:17.000 Like, a thing.

00:23:19.000 And yet, the idea that career government bureaucrat employees who've never accomplished anything, that these are the people who are not arrogant.

00:23:26.000 Oh, they've devoted their life to public service.

00:23:28.000 Bernie Sanders has devoted his life to living on the dole.

00:23:31.000 To living on the taxpayer dole in Vermont.

00:23:33.000 Real difficult life for you there, Bernie.

00:23:35.000 Thank you for accomplishing zero things and creating zero jobs.

00:23:37.000 But don't worry, he's gonna create, he says according to the Green New Deal, 20 million new jobs.

00:23:41.000 He's never created a job, but he's gonna create 20 million new ones.

00:23:44.000 How?

00:23:45.000 By confiscating wealth from the people who actually are responsible for having that wealth by creating jobs.

00:23:50.000 In a second, I'm gonna get deeper into the attack on billionaires.

00:23:53.000 And again, I don't think billionaires are an actual quote-unquote class of people because I don't class people by income.

00:23:58.000 I think there are good people and there are bad people.

00:24:00.000 Some are rich, some are poor.

00:24:01.000 I don't think that the amount of money in your wallet makes you a bad person or a good person.

00:24:04.000 I think there are some billionaires who are just complete terrible people and I think there are some billionaires who are wonderful people. 0.97

00:24:10.000 I think this idea to classify all billionaires as among the people who are trying to control our country and trying to ruin your life All of that is Robespierre garbage. 1.00

00:24:20.000 It's just French revolutionary, take them out in the street and behead them garbage. 1.00

00:24:23.000 It's nonsense. 1.00

00:24:24.000 It's just ridiculous. 0.93

00:24:25.000 But this is what the entire Democratic Party apparently is now going to buy into because it's very convenient to condemn all the people who actually hire a huge percentage of the people in this country. 0.73

00:24:33.000 In a second, you know, you keep saying, why are you defending billionaires?

00:24:35.000 What, what, what do you have in it?

00:24:37.000 Why are you defending billionaires?

00:24:38.000 The reason I'm defending billionaires is because the reason that a lot of billionaires are billionaires, not people who inherited wealth, the vast majority of people who are billionaires are people who are billionaires because they created businesses and hundreds of thousands if not millions of jobs.

00:24:50.000 I'll explain in just one second.

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00:25:00.000 There have been a bunch of new studies out recently showing that small kids interacting with screens really bad.

00:25:05.000 In my house, until you're two years of age, you don't get to interact with screens at all.

00:25:08.000 Even I, look, I'm a parent, and that means that sometimes the kids are just making trouble, and you sometimes feel like, okay, I gotta plop them down in front of a TV and let them watch True on Netflix for a second just to get a break.

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00:26:11.000 Okay, so. 0.95

00:26:13.000 There's the Bernie Sanders attack on billionaires and the Elizabeth Warren attack on billionaires is cynical and disgusting. 0.97

00:26:19.000 It really is disgusting. 0.97

00:26:19.000 It is. 0.97

00:26:20.000 Elizabeth Warren is worth $12 million.

00:26:20.000 I'm sorry.

00:26:21.000 And there she's like, these rich people, these rich people, they must be stopped.

00:26:25.000 And then you got Bernie Sanders, who is basically a giant welfare queen living off the government for the last 30. 1.00

00:26:32.000 What is he now?

00:26:32.000 He's 78 years old, living off the government for 50 years of his life.

00:26:36.000 And he's like, oh, well, you know.

00:26:38.000 We can't let any of these people who actually earn their wealth run anything.

00:26:41.000 They shouldn't run for office.

00:26:42.000 Only I should. 0.98

00:26:43.000 I've been useless my entire life. 0.99

00:26:45.000 So useless, I was kicked off a commune. 0.99

00:26:46.000 So you got Bernie ripping into billionaires. 0.96

00:26:48.000 And then you got Michael Tamasky over at New York Times saying, Bill Gates, I implore you to connect some dots.

00:26:54.000 He says, the billionaire class has begun unloading on Elizabeth Warren.

00:26:57.000 You see, it's a class now.

00:26:58.000 It's a class.

00:26:59.000 Now, just to recognize a fact, Bill Gates is basically a lifelong Democrat.

00:27:03.000 Warren Buffett is a lifelong Democrat.

00:27:06.000 A lot of these quote-unquote billionaire class members are lifelong Democrats, people who have given tons of money to left-leaning causes, but they're a class now.

00:27:13.000 You see?

00:27:14.000 This is pure Marxist speak, where you are judged by the basis of your income, by the basis of your wealth, not by what you think, or what you do, or how you vote, or any of that sort of stuff.

00:27:23.000 Like, George Soros is a billionaire. 0.99

00:27:25.000 George Soros gives a lot of money to exactly the kinds of people that Jamie Dimon doesn't like, so treating everybody as a class based on their income is really stupid. 0.98

00:27:32.000 In any case, this dumb columnist for the New York Times says, The billionaire class has begun unloading on Elizabeth Warren. 0.99

00:27:37.000 A few days ago, Jamie Dimon of JPMorgan Chase, at just $1.6 billion in net worth, a comparative piker, said Senator Warren vilifies successful people, which is true. 0.52

00:27:45.000 Then Bill Gates, $107 billion, in an onstage interview with the Times' Andrew Ross Sorkin, Mused about what his tax bill might be in a Warren presidency, and left the door open to voting for Trump should Democrats nominate Warren.

00:27:56.000 Which makes sense, because her wealth tax proposal is baptly baloney. 0.99

00:28:00.000 And then Michael Bloomberg, $52 billion, who had previously criticized Warren as anti-corporate, signaled his intention to jump into the race obviously out of concern at her eyes.

00:28:08.000 I'm not expert enough to judge the wisdom of Senator Warren's proposed wealth tax, Well then what are you writing about?

00:28:14.000 Like this entire thing is about her wealth tax.

00:28:16.000 Because I know there are questions about its constitutionality, and that several European nations tried a similar approach and found it unworkable, though four countries still have it.

00:28:23.000 I don't get why the candidates aren't simply proposing to increase marginal income tax rates on dollars earned above some very high figure.

00:28:29.000 That seems a lot more straightforward to me.

00:28:31.000 The reason, God, the ignorance, the stunning ignorance of New York Times columnists, the reason, not to justify Elizabeth Warren, the reason she's proposing a wealth tax is there isn't enough money at the upper end of the income bracket in terms of income earned every year to pay for her proposals. 1.00

00:28:45.000 The wealth tax is a confiscatory, nasty tax designed to pay for her garbage proposals that amount to $52 trillion in spending over the next 10 years. 1.00

00:28:53.000 That's why she's going for the wealth tax. 1.00

00:28:55.000 Hey, you can increase the marginal tax rate, it ain't gonna pay for this stuff.

00:28:58.000 It isn't.

00:29:00.000 But this guy says this column is not a brief for Ms.

00:29:01.000 Warren's wealth tax or for her candidacy.

00:29:03.000 I don't have a preferred candidate.

00:29:04.000 Instead, I want to make a simple plea to the country's billionaires.

00:29:07.000 Multi-billion dollar fortunes are often called excessive and decadent.

00:29:10.000 But here's something they're rarely called but ought to be.

00:29:12.000 Anti-democratic.

00:29:13.000 These fortunes will destroy our democracy.

00:29:15.000 So let me get this straight.

00:29:16.000 You earn a billion dollars because you have a bunch of consensual economic transactions with people, and that's anti-democratic.

00:29:22.000 What is democratic is for the government to come and seize the results of those voluntary transactions.

00:29:27.000 Jeff Bezos has not seized wealth from anyone.

00:29:30.000 You want the government to do that.

00:29:31.000 Who's more anti-democratic?

00:29:35.000 Bill Gates has not seized wealth from anyone.

00:29:38.000 In fact, he's provided jobs to hundreds of thousands of people, and indirectly to probably millions of people.

00:29:43.000 You want to seize the wealth he has earned on the basis of those voluntary economic transactions.

00:29:47.000 Who's more anti-democratic, you or Bill Gates?

00:29:51.000 This guy says, why is it anti-democratic?

00:29:52.000 Why would it matter to our democracy whether Jeff Bezos is worth $113 billion or $13 billion?

00:29:57.000 Because any democracy needs a robust and thriving middle class.

00:30:00.000 And we have spent the last 30 years or so transferring trillions of dollars from the middle class to the people at the very top.

00:30:05.000 And then he just quotes the favorite Elizabeth Warren economist, Gabriel Zucman, the 400 richest Americans now own more of the country's riches than 150 million adults in the bottom 60% of the wealth distribution.

00:30:15.000 The 400 share has tripled since the 1980s.

00:30:18.000 Well, what happened to the people at the bottom?

00:30:19.000 Are they all getting poorer?

00:30:20.000 No, it turns out that the middle class is getting richer too.

00:30:23.000 By statistics, the middle class has largely become upper middle class.

00:30:27.000 This notion that it's only people at the top who are living better, I love the sort of hazy, sepia-toned vision of the 1950s where every man was a king and every man was wealthy.

00:30:39.000 Well, first of all, you're leaving out a lot of black folks, okay?

00:30:41.000 If you're going to start with the 1950s and the economy of the 1950s, you should recognize there was a permanent underclass created by segregation in the South.

00:30:48.000 Then, and not having to do with the qualities of black people, having to do with the racism of white people in the 1950s South.

00:30:54.000 So, those two things are somewhat intertwined.

00:30:56.000 Also, you're going to have to point out one of the reasons that the American economy was a full employment economy in the 1950s is because the rest of the world was literally destroyed in World War II.

00:31:05.000 By the 1960s and 70s, when the rest of the world was catching up, American unemployment started to rise.

00:31:09.000 So, On a comparative level, that's true.

00:31:11.000 And then, look at the lives of people in the 1950s.

00:31:13.000 It's so funny to hear all of these people who are professors at Berkeley talk about how wonderful jobs were in the 1950s.

00:31:20.000 Really?

00:31:20.000 Would you like to go and rivet for 12 hours a day?

00:31:22.000 Is that your idea of a good time?

00:31:24.000 We talk about these office jobs.

00:31:25.000 Oh, you live in an air-conditioned office.

00:31:28.000 You might get sciatica from that chair.

00:31:30.000 You might get sciatica from it.

00:31:32.000 We have a 3.6% unemployment rate in this country, by the way, which is the lowest it has been.

00:31:35.000 It's a full employment economy.

00:31:37.000 We have more job openings than people who are seeking jobs at this point.

00:31:41.000 But your idea is that in the 1950s, you had a union job, and you used to go into the Ford factory and rivet all day.

00:31:47.000 That sound like a great job to you?

00:31:48.000 Yeah, it's because you've never done any riveting.

00:31:50.000 It's a really rough job.

00:31:51.000 It's a really, really hard job.

00:31:53.000 It is a back-breaking job.

00:31:55.000 And yet the idea is that the 50s were somehow better than they are now, than we are now economically.

00:32:00.000 Really, then why does everybody have an air conditioner?

00:32:02.000 Why does everybody have a TV?

00:32:03.000 Why does everybody have a car?

00:32:05.000 Why does everybody have a microwave?

00:32:06.000 I'm talking about people under the poverty line.

00:32:09.000 It's just a perverse view of how the American economy works.

00:32:13.000 But the idea is that people in the middle class are repulsed by great wealth.

00:32:18.000 Wealth has shifted to the top.

00:32:19.000 It has been taken away from the middle class. 0.87

00:32:20.000 There is no evidence this is true.

00:32:21.000 There is zero evidence that the wealth coming at the top is coming from the middle class.

00:32:26.000 Because that is not how economics works.

00:32:27.000 Do you believe that the rich... How did the rich people get the wealth from the middle class?

00:32:30.000 Explain it.

00:32:31.000 Really, explain how that transition happened.

00:32:32.000 Did they go to middle class families, put a gun in their face and say, turn over those bucks?

00:32:36.000 Is that what Bill Gates did?

00:32:37.000 Or did he offer a product a lot of middle class people bought and then used to make their lives better?

00:32:41.000 How many of the people?

00:32:42.000 This Dolt, I'm sure that he wrote this thing on some version of Microsoft Word.

00:32:48.000 So all of this is just a rip on billionaires.

00:32:50.000 But the fact is, billionaires are billionaires because they created voluntary economic transactions.

00:32:55.000 They did.

00:32:56.000 And when you rip on quote-unquote big companies in the United States, recognize that you are ripping on the companies that provide a plurality of employment in the United States.

00:33:04.000 According to the New York State Society of Certified Public Accountants, quoting the Wall Street Journal, 36.7, this is before 2008.

00:33:15.000 Using census data, the Wall Street Journal calculated that 36.2% of people worked at either a large company or a very large company.

00:33:23.000 Large would be at least 2,500 employees, very large would be 10,000 people or more.

00:33:27.000 Versus 38.9% of people who worked for small companies and 24.9% who worked for mid-sized companies.

00:33:34.000 Hey, even a mid-sized company is a pretty large company.

00:33:36.000 100 employees or more, so Daily Wire would classify probably as a mid-sized company.

00:33:40.000 Since 2014, the latest year for which there is census data, according to, again, the CPAs of New York, this is no longer the case.

00:33:47.000 At this point, 39.2% of Americans are employed at either a large or a very large company, while 26.5% worked at mid-sized companies, and 34.3% worked at small companies.

00:33:58.000 So that means consolidation, big companies, they're hiring you.

00:34:02.000 And you know who tends to own rich companies or big portions of rich companies?

00:34:06.000 Big companies?

00:34:07.000 Billionaires!

00:34:09.000 You know why?

00:34:09.000 Because the company's successful!

00:34:12.000 We're gonna get more into this in just one second because the vilification of wealth in this country is insane, counterproductive, and stupid. 1.00

00:34:18.000 And by the way, it's a violation of the 10th commandment. 0.98

00:34:20.000 If you're just gonna go on a moral level, it's a violation of the 10th commandment that you shouldn't covet your neighbor's property for you to suggest that Bill Gates' wealth must be taken away from him on the basis that you don't like Bill Gates being wealthy.

00:34:30.000 That's you being a bad person.

00:34:32.000 It is, I'm sorry.

00:34:33.000 If it's about your jealousy level, it's you.

00:34:35.000 And I hear from people on the floor, if you could just take one billion away from Bill Gates and heal homelessness, wouldn't you do it?

00:34:41.000 First of all, you're assuming two things.

00:34:42.000 One, that if a homeless person breaks into Bill Gates' house and steals a billion dollars, that somehow that's morally acceptable, which it is not. 0.99

00:34:49.000 Two, that you can solve the homelessness problem by throwing money at it, which I think that Los Angeles, New York, and San Francisco have proved how stupid that idea is. 0.96

00:34:55.000 Okay, we'll get to more of this in just one second. 0.98

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00:36:06.000 Okay, in just a second, we're gonna get to more of the attack on success in this country, which is really what this is about.

00:36:12.000 We're gonna get to that in just a second.

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00:36:46.000 Okay, a few more stats for you, okay, with regard to billionaires, the evil, evil billionaires who are ruining your life and controlling democracy, supposedly.

00:36:59.000 First of all, I'm confused.

00:37:00.000 If billionaires are controlling our democracy, then why is Elizabeth Warren and Bernie Sanders, why are they doing well in these primaries? 0.69

00:37:05.000 Shouldn't it be like Michael Bloomberg doing amazing in the primaries?

00:37:08.000 Shouldn't Tom Steyer just be dominating the primaries?

00:37:10.000 I'm constantly confused by the idea that billionaires run our political system when in fact major unions outspend billionaires regularly.

00:37:20.000 When the fact is that billionaires are not the ones who are actually, like Donald Trump did not, there are plenty of billionaires who were given money in the 2016 election cycle in the primaries.

00:37:29.000 None of them gave money to Trump so far as I'm aware.

00:37:33.000 Money is not what's in control.

00:37:36.000 Your control of the media is basically what the test is at this point.

00:37:40.000 And media members who are benefiting, by the way, from billionaires like Carlos Slim owning the New York Times, and then cashing the check from Carlos Slim, it is definitely of benefit to them that a billionaire owns the New York Times.

00:37:50.000 In any case, There's this weird idea that billionaires don't actually create jobs.

00:37:54.000 They're just taking that money and sucking it away.

00:37:56.000 There's only one problem.

00:37:57.000 First of all, how you define billionaire is basically, in many cases, like Jeff Bezos, he doesn't have $100 billion in cash.

00:38:04.000 He has stock in Amazon.

00:38:06.000 And as he provides goods and services to people, that stock rises or falls.

00:38:09.000 That's why you'll see headlines like, Mark Zuckerberg lost a billion dollars in a day.

00:38:13.000 No, he didn't.

00:38:14.000 He didn't lose any money that day.

00:38:15.000 His stock prices went down.

00:38:17.000 If he sold that day, he'd lose the money.

00:38:19.000 He didn't lose any money because he didn't sell the stock.

00:38:21.000 Same thing with Jeff Bezos.

00:38:22.000 So just understand that when you're talking about somebody's wealth, when you're talking about somebody's wealth, you're talking about not just cash assets.

00:38:29.000 In any case, the idea that billionaires have not created jobs, that somehow they're the ones who are a problem, that Bernie Sanders or Elizabeth Warren, who have not created, so far as I'm aware, a single job in the history of their employment.

00:38:39.000 Not one.

00:38:41.000 Bernie Sanders' jobs have all been created by staff or by campaigns.

00:38:44.000 Hey, Elizabeth Warren, she had some aides paid for by Harvard Law School, maybe some teacher's assistants. 0.99

00:38:49.000 That's pretty much it.

00:38:52.000 But they know how to create jobs.

00:38:54.000 They are the great job creators.

00:38:55.000 You know, it's so funny.

00:38:56.000 Elizabeth Warren was one of the leaders in the, you didn't build that routine. 1.00

00:39:00.000 And she was the one who came up with that.

00:39:02.000 She and Deval Patrick, I think in Massachusetts.

00:39:03.000 I think she was the first one to use it and then Obama hijacked it.

00:39:05.000 That you didn't build that.

00:39:06.000 If you built something, it was created by the people who created roads.

00:39:10.000 Yes, because it was the road that made Amazon happen.

00:39:14.000 Yes, it is obvious that using public resources is one aspect of living in a large republic.

00:39:19.000 It is also true that you know what didn't create Amazon?

00:39:22.000 The road.

00:39:23.000 That would be necessary but not sufficient.

00:39:26.000 You're missing a large element called Amazon in that particular... It's so funny to me, people from the government telling you, you didn't build that.

00:39:32.000 You know who really didn't build that?

00:39:33.000 The members of the government.

00:39:34.000 They didn't.

00:39:35.000 They provided you with a necessary piece That, in all likelihood, you probably could have come up with, in coordination with others, would have been more expensive, in many cases.

00:39:44.000 But, the notion, the proper response to, you didn't build that, is, no, you didn't build that.

00:39:51.000 Elizabeth Warren has built nothing.

00:39:53.000 Nothing.

00:39:53.000 So far as I'm aware.

00:39:55.000 Bernie Sanders has built zero things.

00:39:56.000 Ever.

00:39:58.000 And yet we're being told, you didn't build that?

00:40:00.000 Who is you?

00:40:00.000 Who?

00:40:01.000 Because if this is a comparative thing, if you want to say, like, let's try and ballpark this thing.

00:40:06.000 If you're saying that it's roads and firefighters and police, and because those things exist, you can have a company in the United States?

00:40:14.000 And so you didn't build that?

00:40:15.000 Let's try to ballpark the percentage responsibility for building a business. 0.98

00:40:19.000 Yeah, you're right.

00:40:20.000 Without the road, without the police, without the firefighters, it'd be difficult to build a business.

00:40:23.000 Absolutely correct.

00:40:24.000 You know what percentage of building a business that represents?

00:40:27.000 I don't know, what do you think?

00:40:28.000 It sure ain't 60!

00:40:28.000 2%?

00:40:28.000 3%?

00:40:29.000 Not 100!

00:40:33.000 A rule of law is necessary, but not sufficient.

00:40:36.000 People have to create businesses off the top of that.

00:40:39.000 And so the idea that you're gonna be paying exorbitant levels of money to the government for roads, it's not going for roads.

00:40:45.000 We know it's not going for roads.

00:40:46.000 So stop pretending.

00:40:48.000 Even if you wanna make the case, you didn't build that and it was the roads and it was the police and the firefighters, fine.

00:40:52.000 You know what that would represent in terms of the tax rate?

00:40:54.000 Like nothing, like close to zero to pay for those things that supposedly contributed to you building the business.

00:41:00.000 I'll tell you what didn't build the business.

00:41:02.000 Welfare dollars, typically.

00:41:03.000 Social Security didn't build the business.

00:41:05.000 Medicare, Medicaid didn't build the business.

00:41:07.000 Now, you wanna make the case for those things?

00:41:09.000 Go ahead and make that case.

00:41:10.000 But don't make the case that you owe the money for Social Security, Medicare, and Medicaid because, quote-unquote, you didn't build that.

00:41:15.000 That's absolute... It's a complete non sequitur.

00:41:19.000 The two things have nothing to do with one another.

00:41:20.000 Okay, in any case...

00:41:22.000 How many jobs are quote-unquote billionaires in the United States creating?

00:41:24.000 According to Karen Blankfeld over at Forbes.com, the top 12 billionaires in America as of October 2016 had created a minimum of 2.3 million jobs.

00:41:34.000 The top 12.

00:41:34.000 That's a lot of jobs, guys.

00:41:36.000 A lot of jobs.

00:41:37.000 2.3 million.

00:41:37.000 And that is just direct jobs.

00:41:39.000 People who directly work for their companies.

00:41:42.000 If you know anything about economics, you also understand that they've created a lot more indirect jobs.

00:41:46.000 So for example, Bernie Marcus and Arthur Blank were fired from their jobs at a hardware store in 1978 and then they opened Home Depot.

00:41:55.000 Today, Home Depot has more than 385,000 workers in the United States, Canada, and Mexico.

00:42:00.000 But let's be real about this.

00:42:01.000 Home Depot provides a lot more jobs than that indirectly.

00:42:03.000 Because they provide all sorts of great products at great prices.

00:42:07.000 How many plumbers?

00:42:09.000 And handymen, and contractors, and construction workers, and real estate moguls have made their fortune based on the fact that they get to use materials that are brought to them by those 385,000 workers at Home Depot.

00:42:21.000 The economy is interconnected.

00:42:23.000 You hear the same complaint about like Mark Zuckerberg over at Facebook or Google, because there are only about 15,000 jobs at Facebook or 40,000 jobs at Google, right?

00:42:32.000 But how many businesses are reliant on Facebook or Google in order to do their business?

00:42:36.000 The entire media is reliant on Google.

00:42:38.000 That's tens of thousands of jobs.

00:42:40.000 The entire media, many practical businesses are reliant on Facebook to get out the word about their businesses.

00:42:45.000 These are value-added propositions.

00:42:48.000 So why are you angry at value-added propositions?

00:42:50.000 And then you're angry, again, you're gonna have to explain to me how Mark Zuckerberg seized his wealth from the middle class.

00:42:56.000 You're gonna have to explain to me how Jeff Bezos, who has made your life better in practically every way, because now we live in a magical world where you can hit a button and something arrives at your door in like two days, from anywhere on earth.

00:43:06.000 That's insane.

00:43:08.000 And then you're telling me he's the bad guy here?

00:43:09.000 Not Elizabeth Warren, who wants to confiscate his wealth? 1.00

00:43:11.000 And yours, by the way?

00:43:13.000 That Bernie Sanders isn't the bad guy? 0.63

00:43:15.000 A lifelong leech who's accomplished nothing?

00:43:18.000 That he's not the bad guy?

00:43:20.000 That Jeff Bezos is the bad guy?

00:43:22.000 Yeah, spare me.

00:43:23.000 Spare me.

00:43:25.000 This routine gets real old, real quick.

00:43:28.000 Okay, speaking of the media defending Elizabeth Warren, it is pretty incredible.

00:43:32.000 The media continue to defend Elizabeth Warren, no matter what.

00:43:35.000 And the way they're defending her is, of course, claiming, wait for it, wait for it, that any attacks on her are sexist. 0.91

00:43:39.000 If you point out that Elizabeth Warren is worth $12 million, that her policy proposals are garbage, that they don't hold together, that she's intellectually dishonest, that she has switched nearly every position she ever held, and that she has lied repeatedly about her past, it's because you're sexist. 0.94

00:43:51.000 If you point out that she campaigns on anger, and that she is divisive, and nasty, Then this is apparently a reflection of your sexism. 0.99

00:43:59.000 Because I would never say anything like divisive, nasty, combative crap proposals about somebody like Bernie Sanders. 0.99

00:44:04.000 Oh wait, I just did, because he is. 0.99

00:44:06.000 But apparently if you say it about Elizabeth Warren, you're a sexist, naturally.

00:44:09.000 So the New York Times, rushing to Elizabeth Warren's defense with all the chivalry required to defend a woman. 0.98

00:44:16.000 They have a piece today titled, Biden's Attacks on Warren Turned Personal, Drawing Some Complaints of Sexism.

00:44:21.000 Oh, you mean people are complaining?

00:44:22.000 That's news.

00:44:23.000 I love when, this is one of my favorite tricks of the media, is when they say, some complain of X. Right, who are these some?

00:44:30.000 Would they work for the Warren campaign, perhaps?

00:44:32.000 Or maybe, it's you.

00:44:34.000 Maybe it's you.

00:44:34.000 Maybe when you say some, it's you.

00:44:36.000 It's funny, Trump will sometimes do the same thing, right?

00:44:38.000 You'll hear President Trump say things like, People are saying.

00:44:41.000 People are saying.

00:44:42.000 And what he really means is I'm saying.

00:44:44.000 But people.

00:44:45.000 Who are these people?

00:44:45.000 People.

00:44:46.000 Right?

00:44:46.000 And the media do it.

00:44:47.000 They rip Trump for doing that, and then they do it a thousand times more. 0.81

00:44:50.000 They'll be like, some say Biden is a sexist.

00:44:53.000 Who are these some?

00:44:54.000 Probably the reporters at the New York Times, I would guess. 0.99

00:44:57.000 Because it's sexist to point out that Elizabeth Warren is a liar. 0.85

00:45:01.000 They say, Senator Elizabeth Warren is instructing voters on what to believe.

00:45:03.000 Her policy vision smacks of an academic exercise.

00:45:06.000 Her advocacy style is, quote, my way or the highway, and she has displayed an elitist attitude.

00:45:11.000 In ways overt and subtle, Joe Biden, his campaign and his allies have begun mounting personal attacks on the most formidable rival in the 2020 primary race, portraying her as embracing a rigid condescending approach that befits a former Harvard professor with an ambitious policy agenda.

00:45:25.000 It is a politically risky case to make against a leading female candidate Ooh! 1.00

00:45:30.000 Ooh, she's got a vagina. 1.00

00:45:32.000 That means you can't say that she has a rigid policy approach, even though she has a rigid policy approach and has suggested that all of her opponents are not sufficiently ambitious. 0.99

00:45:42.000 I mean, obviously this has to do with the fact that she's got a couple X chromosomes.

00:45:45.000 That's why Biden's doing this, clearly.

00:45:48.000 And then you've got the, and then you've got the Washington Post trying to pretend that Ayanna Pressley endorsing Elizabeth Warren is some sort of huge thing.

00:45:55.000 The Ringo star of the squad.

00:45:56.000 Ooh, Ayanna Pressley said a thing. 1.00

00:45:58.000 Ooh-hoo-hoo-hoo! 0.99

00:45:59.000 Wow.

00:45:59.000 That changes everything.

00:46:01.000 According to the Washington Post, last week, Elizabeth Warren picking up endorsement from a congressional rising star and a new group composed of black women and gender non-conforming people. 0.96

00:46:11.000 Wow, that has completely changed the race.

00:46:13.000 You mean that gender non-conforming women of color are endorsing Elizabeth Warren online?

00:46:19.000 Well, I don't think all of them.

00:46:20.000 I think mostly it's just like this small group, right?

00:46:21.000 And Ayanna Pressley is like a nobody except that she hangs out with the squad and kind of hangs onto their coattails. 1.00

00:46:26.000 Last I heard of Ayanna Pressley, she was suggesting that you have to think a certain way in order to be a proper Hispanic or a proper Muslim or a proper black person was last I checked with Ayanna Pressley.

00:46:35.000 But apparently it's a very, very big move.

00:46:36.000 The media grandstanding in favor of Elizabeth Warren is pretty astonishing.

00:46:40.000 Okay, I have to give you the very, very brief ImpeachmentGate 2019 update where I have been remiss today.

00:46:46.000 So that is because today, Begin the public hearings.

00:46:51.000 Public hearings.

00:46:52.000 And the media?

00:46:53.000 The media are already calling on themselves to make sure that they twist this exactly the way Democrats want to.

00:46:58.000 Margaret Sullivan, a media columnist for the Washington Post.

00:47:01.000 She has a piece today titled, Media Beware.

00:47:04.000 Impeachment hearings will be the trickiest test of covering Trump.

00:47:07.000 What she means by that is that you should never ever suggest that maybe Republicans have a point.

00:47:12.000 You gotta be very careful.

00:47:13.000 Don't say Democrats say this and Republicans say this.

00:47:16.000 Say Democrats say this and Republicans lie.

00:47:18.000 That's Margaret Sullivan's point. 0.64

00:47:19.000 She says...

00:47:21.000 The national media's shortcomings have been all too obvious in recent years as Donald Trump has gleefully thrown the norms of traditional journalism into a tizzy.

00:47:28.000 They've trafficked in false equivalents, allowed President Trump to play assignment editor, gotten mired in pointless punditry.

00:47:34.000 Granted, it's been a mixed record.

00:47:35.000 Journalists have done a lot right.

00:47:36.000 They've pointed out lies, dug out what's really happening, skillfully explained and analyzed.

00:47:40.000 But on Wednesday, as televised impeachment hearings begin in the House of Representatives, journalists need to be on their game.

00:47:46.000 The stakes don't get much higher when it comes to fulfilling their core mission, informing citizens of what they really need to know.

00:47:51.000 And what they really need to know is that Trump needs to be impeached.

00:47:54.000 So stop trying to present both sides.

00:47:56.000 Stop trying to say, on the one hand and on the other hand, stop trying to be objective.

00:47:59.000 Instead, just say what you want. 1.00

00:48:01.000 Trump's a liar, and he committed a crime, and he should be impeached. 0.99

00:48:04.000 That's how the media are going to cover this thing. 0.98

00:48:07.000 By the way, there is something delicious about the fact that even as the media insists that Democrats have a foolproof case against President Trump, members of the Democratic Party are saying that Hunter Biden certainly, certainly should not be called.

00:48:18.000 The reason Republicans want to call Hunter Biden is they want to point out that Trump had legit questions about Hunter Biden and Burisma, and he got AOC out front saying, I'm all for transparency, but why should Hunter Biden be called?

00:48:26.000 He's a nice man.

00:48:27.000 Why?

00:48:28.000 I don't think he's an appropriate witness.

00:48:30.000 And not only that, but I think that the reason they're calling for these witnesses, these new witnesses, is because they want to make a spectacle and a circus out of this entire proceeding.

00:48:41.000 They want to distract the American people.

00:48:43.000 These witnesses that they are calling are politically motivated.

00:48:49.000 Republicans are turning this into a partisan issue, and I'll tell you, if a Democrat did what Donald Trump did, I would be calling for that Democrat's impeachment as well.

00:48:58.000 Oh, really would you?

00:48:59.000 Really would you?

00:49:00.000 Hmm.

00:49:01.000 I remember her loudly calling for Barack Obama's impeachment when the IRS started targeting conservatives.

00:49:06.000 My favorite thing is that Bernie Sanders is just spacing out there.

00:49:06.000 I remember that.

00:49:08.000 He's just like thinking, maybe if I think about Putin, this interview will be over soon.

00:49:13.000 Alrighty, time for a thing I like and then a thing I hate.

00:49:15.000 So things that I like over the weekend.

00:49:17.000 You know, if you want to have some, if you want to have a good deal of enjoyment, check out the work of Paul Johnson.

00:49:22.000 I'm a big Paul Johnson fan.

00:49:23.000 He's the historian, British historian, and he has a really fun book called Humorists about various sort of humorous figures in British and American history.

00:49:33.000 And it's really kind of a kick.

00:49:35.000 It's a bunch of short bios of people ranging from Hogarth to Benjamin Franklin to the Marx Brothers.

00:49:40.000 It's not necessarily the names that you would think of, these sort of highfalutin names, but it is a lot of fun.

00:49:45.000 There's some good one-liners that you'll be able to quote to your friends.

00:49:48.000 It's kind of a kick.

00:49:49.000 So check it out.

00:49:49.000 Humorous by Paul Johnson.

00:49:51.000 As I say, I'm on a bit of a Paul Johnson kick right now.

00:49:53.000 I've been going through a lot of his work.

00:49:54.000 So this is just the latest in a series.

00:49:56.000 Humorous by Paul Johnson.

00:49:58.000 Go check that out.

00:49:58.000 Okay, time for a quick thing that I hate.

00:50:04.000 Well, the New York Times is on it.

00:50:06.000 It's on it.

00:50:06.000 Apparently, there's a library.

00:50:09.000 There's a library in Idaho.

00:50:12.000 And it turns out somebody at the library in Idaho is hiding the anti-Trump books.

00:50:15.000 And the New York Times is on it.

00:50:16.000 This is a national story.

00:50:17.000 It's in their national section.

00:50:19.000 Right, a library in Idaho.

00:50:21.000 Some rando is switching the books around.

00:50:24.000 This, it must be covered by the New York Times.

00:50:25.000 Now, let me be real about this.

00:50:27.000 I've had, I've written, what, eight, nine books.

00:50:29.000 I can't even remember at this point, because I've ghostwritten so many too.

00:50:33.000 I've written a lot of books.

00:50:34.000 I can't tell you the number of times I will go in a bookstore and somebody has hidden my book behind another book.

00:50:39.000 It happens a lot.

00:50:40.000 It is a real thing.

00:50:41.000 It happens at bookstores on a routine basis.

00:50:43.000 It happens at libraries on a routine basis.

00:50:45.000 Never has this been a national story.

00:50:46.000 But apparently, it's a national story now because someone is hiding books in Idaho.

00:50:52.000 Hmm, let's get Encyclopedia Brown on the case, gang!

00:50:54.000 Who's hiding the books in Idaho?

00:50:57.000 According to the New York Times, from her office next to the public computer terminals, Bette Amann finds herself peering through a window to watch patrons moving through the Cure d'Alene Library's non-fiction stacks.

00:51:07.000 Someone has been hiding books lately.

00:51:10.000 Specifically, those that explore politics through a progressive lens or criticize President Trump.

00:51:15.000 They wind up misfiled in out-of-the-way corners where readers will not be able to find them.

00:51:20.000 Amann says, The Mystery Book Relocator actually left a note.

00:51:24.000 It's an actual Encyclopedia Brown case.

00:51:28.000 Maybe it'll turn out to be like a villain from Scooby-Doo. 0.99

00:51:30.000 I wouldn't have got away with it if it weren't for those darn kids! 0.97

00:51:34.000 In any case, the Mystery Book Relocator says, I'm the ghost of the library, so I'm going to continue hiding these books in the most obscure places I can find to keep this propaganda out of the hands of young minds. 0.98

00:51:45.000 Your liberal angst gives me great pleasure.

00:51:49.000 For decades, Cure D'Alene has navigated a delicate political landscape in northern Idaho, a conservative corner of the country where some have sought refuge from political and social changes elsewhere.

00:51:58.000 The incidents over the past year, including a missing book that was discovered only this week!

00:52:02.000 We're not the first time books have mysteriously disappeared.

00:52:05.000 30 years ago, the library lost so many books on human rights to theft, they had to be placed in a locked cabinet.

00:52:10.000 The latest works to be targeted cover a wide range of topics from gun control and women's suffrage to LGBTQ issues and how people of color fare in the criminal justice system.

00:52:17.000 About half the books specifically deal with President Trump.

00:52:21.000 Well, none of the books appear to have been stolen.

00:52:23.000 Some have been hidden in ways that make it nearly impossible to find them when patrons wanted to check them out.

00:52:28.000 They've been discovered inexplicably filed in the wrong sections, hidden behind a row of Stuart Woods novels or shelved with the spine facing inward.

00:52:35.000 Woo-hoo-hoo-hoo! 1.00

00:52:36.000 Okay, so, is this a stupid- Like, don't do this. 1.00

00:52:39.000 Don't hide books at the library, you idiots. 1.00

00:52:41.000 Like, don't do that. 1.00

00:52:42.000 It's a bad thing to do.

00:52:43.000 Don't do it.

00:52:43.000 Also, is this a national news story?

00:52:48.000 I'm amused to find that the New York Times, which has a city filled with bookstores where people hide conservative books.

00:52:54.000 I mean, this is a routine complaint I get from fellow conservative authors.

00:52:57.000 They've never, ever... Like, you want to do a full-scale investigation?

00:53:00.000 How about this?

00:53:00.000 They should do an investigation into which books actually get placed at the front tables of Barnes & Noble.

00:53:04.000 Like, that actually would be an interesting one, right?

00:53:06.000 Because that actually makes a lot more difference than where a book gets filed in Idaho.

00:53:10.000 Bookstores across the nation, those front-facing tables, some publishers will pay a super-fee to get their books up front.

00:53:16.000 But very often, it is editorial judgment of the people managing the bookstores that decides which books are placed where.

00:53:22.000 And nearly universally, those books are books that represent the left.

00:53:25.000 I mean, this is just a thing.

00:53:26.000 It's been true for a very long time.

00:53:28.000 I look forward to the New York Times reporting on this when they are done finishing the case of who moved?

00:53:33.000 Who moved the Al Franken book?

00:53:35.000 Who did it?

00:53:37.000 New York Times, really solid work there.

00:53:39.000 The journalism we've all been waiting for.

00:53:40.000 All right, we'll be back here later today with two additional hours of content.

00:53:43.000 Otherwise, we'll see you here tomorrow.

00:53:44.000 I'm Ben Shapiro, this is The Ben Shapiro Show.

00:53:50.000 The Ben Shapiro Show is produced by Robert Sterling.

00:53:53.000 Directed by Mike Joyner.

00:53:54.000 Executive Producer, Jeremy Boring.

00:53:56.000 Senior Producer, Jonathan Hay.

00:53:58.000 Our Supervising Producer is Mathis Glover.

00:54:00.000 And our Technical Producer is Austin Stevens.

00:54:03.000 Assistant Director, Paweł Wajdowski.

00:54:05.000 Edited by Adam Sajewicz.

00:54:07.000 Audio is Mixed by Mike Koromina.

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00:54:12.000 The Ben Shapiro Show is a Daily Wire production.

00:54:14.000 Copyright Daily Wire 2019.

00:54:16.000 Hey everybody, it's Andrew Klavan, host of The Andrew Klavan Show.

00:54:19.000 You know, some people are depressed because the American Republic is collapsing, the end of days is approaching, and the moon has turned to blood.

00:54:25.000 But on The Andrew Klavan Show, that's where the fun just gets started.

The Ben Shapiro Show - November 11, 2019

Eat The Rich | The Ben Shapiro Show Ep. 894

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