Best of the Program ｜ 4⧸15⧸25
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Summary
It's tax day, the world is on fire, and Donald Trump has not some great approval ratings now from independents. What is he going to do? Well, let me first tell you some history about this been done before about 50 years ago.
Transcript
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Donald Trump has not some great approval ratings now from independents.
00:00:38.580
He was plus one. Now he's minus 29 on the economy with independents.
00:00:45.260
Well, let me first tell you, we'll give you some history about this been done before about 50 years ago.
00:00:49.980
We'll tell you about that and what he needs to do to turn the ship around.
00:00:53.880
He needs to turn the pressure up on Congress to do the rest.
00:00:57.580
And I explain also, Bezos sending my girlfriend up into space on the giant phallic ship with the women screaming all the way.
00:01:13.480
Out on the wind-rustled prairies that still exist in this country, between the veins and the arteries of American cities, towns, and even just some wild spots in the road, there still exists the men and women who have always made sure that America's supper was waiting for them on the table.
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There are farmers and our ranchers, and every day, through toil and sweat, they raise the cattle and the pigs and the chickens, all of the food that we have, so you don't have to, so I don't have to, so we can go to the grocery store and fill our baskets.
00:01:43.960
But every year, there are fewer and fewer of them.
00:01:49.080
Giant meat packing plants drive the small farms and the small ranches out of business.
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They source 100% of their meat from American farms and ranches.
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You're listening to the best of the Glenn Beck program.
00:03:32.480
Let me take you on a little ride through history here.
00:03:35.300
Through the smoky rooms of the 1970s, actually 1971, into what we're experiencing today in the last few weeks with the markets.
00:03:47.680
It is a story of money and power and an idea to pull something off rare, something audacious, to remake the global trade and financial system.
00:04:01.000
But we've done this once before because it's not a new story.
00:04:07.540
And we can't forget this one because this is how things went wrong.
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How everything in America is broken and maybe, just maybe, what we're doing now might fix it.
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Did you know that France sent warships over to New York?
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A little tugboat with like a pea shooter on it.
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I'm not sure, but French warships were in the harbor of New York demanding their gold back because of what Nixon did when he stepped to the microphone.
00:04:46.400
He said on April 15th, he announced what would be known later as the Nixon shock.
00:04:57.580
10% tariff on all imports and wage price control to tame inflation.
00:05:04.940
I think it was, I think that's an insane understatement.
00:05:08.300
What he did was he broke the Bretton Woods system, that grand agreement that happened right after World War II, tying our dollars to gold and the stability, all nations stability to gold and the U.S. dollar.
00:05:27.540
And with it, it was free to change the world and everybody along with it.
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Nixon said he wanted to save jobs and fix a $2 billion trade deficit.
00:05:39.380
What Nixon was doing was paying for war and the great society.
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You know, save American jobs, fix a trade deficit, make sure that we don't go into debt anymore.
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But what he did is unleash a storm that we're still weathering today.
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And I'm not saying that everything was perfect before 1971.
00:06:03.580
But I want you to look at the numbers and tell me, was this a good shift or a bad shift?
00:06:10.220
In 1971, the top 1%, they held about 8% of the nation's income.
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By 2010, the top 1% held 20% of the nation's income.
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Their wealth climbing from 16% to now 23% last year.
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The middle class, the heart of America, 61% of us in 1971, we had 61% of all of the income.
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By 2021, they're half the country, scraping by with only 42%.
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From 1979 to 2024, productivity, how much we make, jumped 81%.
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But the wages for the people who are making that barely budged.
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Now, the wages for the bottom 90% of our country, they didn't go up.
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The houses that cost three times your salary in 1971 now cost six times your salary today.
00:07:25.360
The debt has doubled from $0.60 per dollar to $1.20 by 2007.
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If you check the charts, everything, everything started to break when Nixon cut the gold cord.
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The M1 money supply, so you know that's the money, that's the cash everybody has that's liquid.
00:08:04.220
It's whatever you buy pizza with, that's the M1 supply, okay?
00:08:08.660
That's not I've got money in stock market or whatever.
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Financial wizards cooked up futures and options and everything else,
00:08:40.040
where all the things that keep busting, like 2008,
00:08:43.920
all of those things that are just these, you know, it's just alchemy.
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These financial wizards are like, I'm going to make gold.
00:09:00.440
Manufacturing jobs fell from 26% in 1970 to 8% by 2020.
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The trade deficit swelled to $13 billion by 1980.
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gold reserves shrinking against $14 billion in foreign dollars,
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The middle class started its long slide into where we are now.
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etched in the Congressional Budget Office numbers and Pew Research.
00:10:01.660
Now, here's Donald Trump staring down a trade deficit of $971 billion,
00:10:12.580
announcing tariffs 10% on everybody and 125% on China.
00:10:18.500
The market does what a market does when it's spooked.
00:10:31.480
When we're borrowing money, we sell treasuries.
00:10:34.160
That's like going to the bank and asking for a loan.
00:10:36.840
Depending on your credit, what is your interest rate?
00:10:40.360
If you have bad credit, the interest rate is higher.
00:10:49.780
And people are starting to say, let's get out of this.
00:10:56.600
They are dumping our T-bills, our treasury bills.
00:11:04.600
Consumers, people like you and me, bracing for higher prices.
00:11:08.540
University of Michigan survey says inflation fears are spiking.
00:11:21.460
What Nixon did was he took us off the gold standard so we could spend more money.
00:11:27.420
And to make us, this is what he promised the world, that he would make us consumers, not producers.
00:11:34.980
So we would consume what everybody else was producing.
00:11:45.440
But it cracked the system for, you know, the average person.
00:12:03.580
Tariffs might add another 1% to 2% to prices, maybe 3% to 5% on your Walmart card because everything from Walmart is coming from China.
00:12:12.240
The Peterson Institute, by the way, has run the numbers.
00:12:14.900
Higher yields could strain our $2 trillion deficit, make mortgage prices higher.
00:12:22.060
The retaliation from China is real, and China is not blinking, and neither are we.
00:12:27.680
Now, do we stumble into recession, stagflation like the 70s?
00:12:38.300
If Trump pulls this off, if we start setting things right, where we mean what we say and say what we mean, we get everything under control.
00:12:49.080
We're not just spending, and we have no real assets that we actually are sitting on.
00:12:55.140
If wages rise 1% to 2% like the IMF predicts, if supply chains come home, we could see something new.
00:13:04.480
Not a return to 1971, but a system where the middle class isn't crushed, where houses don't cost your soul, and where the top 1% don't control almost everything.
00:13:14.800
Even Bernie Sanders would agree with this, but no, no, no, no, he's not because he's busy at Coachella.
00:13:27.360
Nixon's shock showed good intentions can spark long fires.
00:13:36.700
This is a very big stakes game, but what has a higher cost is not trying to fix the system.
00:13:47.840
That's a slow bleed, and we're almost out of blood.
00:13:57.460
Imagine a world where our children's jobs actually pay enough, where America is not just buying, but it's building.
00:14:04.160
That's the gamble, and that is the next generation's new American dream.
00:14:23.560
Things are getting a little dangerous and tough.
00:14:32.520
This is why Trump earns the big money, even though he doesn't actually take a paycheck for any of this.
00:14:39.820
But we're playing the highest stakes of a game.
00:14:46.840
And I don't know how many people are really focusing on this, but this is the ball game.
00:14:51.960
China now says that they're going to cut us off on rare earth minerals.
00:15:14.440
We choose to go to the moon in this decade and do the other things.
00:15:18.920
Not because they are easy, but because they are hard.
00:15:22.540
Apparently even harder than saying decade, not decade.
00:15:28.200
So this was really important because it was a space race.
00:15:35.580
Whoever got to space first, got to the moon first, would change the world.
00:15:41.840
But there's a new race, and it is just as game-changing.
00:15:47.960
And that is the race for rare earth minerals, the tiny elements that power everything in our future.
00:15:55.160
Right now, China has just pulled a giant gun, and they're holding it to our head.
00:16:00.900
They are threatening to cut off all exports of rare earth minerals.
00:16:05.620
And if we don't act with a JFK kind of moonshot, we will lose the AI race.
00:16:16.520
We will lose every technological leap that is just over the horizon.
00:16:22.460
Rare earth minerals are not just elements in rocks in the ground.
00:16:28.940
Everything from high-tech weaponry that will defend our skies to the smartphones that are in your pocket
00:16:37.180
to the wind turbine eyesores that, you know, the left loves so much and mean nothing,
00:16:44.060
and the quantum computers that will redefine what is possible.
00:16:50.960
In 2024, we produced 45,000 metric tons of rare earth oxide concentrate from the U.S.,
00:17:02.720
Sounds great, but we only refined about 6,500 metric tons of usable material.
00:17:22.260
So we're close and yet so far away because 70% of what we need still comes from China,
00:17:31.780
And this month, they've halted all exports, saying it's in their national interest to stop.
00:17:55.240
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You're listening to the best of the Glenn Beck Program.
00:18:57.020
Well, my gosh, what a great moment for all of womankind yesterday.
00:19:31.840
Yeah, but if you see my rocket ship, it's made to look like one of my private parts.
00:19:47.420
Uh, so, uh, he, uh, disturbingly, uh, was at the launch of the giant phallic symbol yesterday.
00:20:01.140
And so he had, uh, women, some, just some great, great women.
00:20:20.960
And then, uh, and then you had Katy Perry and, uh, Gail King.
00:20:26.580
And I, uh, can we, can we focus on one little thing that bothered me from the coverage of this?
00:20:32.340
Other than the fact that it was covered at all?
00:20:42.640
It's an interesting Bezos impression you've got working here.
00:20:49.720
I mean, doesn't he look like he's just about out of control with all of the steroids that are raging through him?
00:20:59.420
It does feel like there's a, there's something.
00:21:01.520
I, I feel like it's one of those, like, not quite in GNC, but near GNC supplements.
00:21:08.860
Like, there's a GNC and then there's also a stand outside of it that's not related to GNC, but selling similar products that might not be legal.
00:21:25.780
The same place that my main squeeze gets all over plastic.
00:21:36.540
What did Katy Perry do on this flight to be considered crew?
00:21:51.220
But, like, when I'm on an American Airlines flight to Des Moines, am I on the crew?
00:22:03.220
So, I don't think, necessarily, the crew is the right way to say it's an all-female crew.
00:22:08.200
Do we have any of the audio of the, of the crew?
00:22:16.740
Just free-falling right there until those drugs came out.
00:22:21.460
Next would be the main parachutes that get pulled out.
00:22:30.760
It's a very soft, soft cannon despite the sporty perception.
00:22:34.720
Are they screaming out of terror or is they screaming out of, like, you know, rollercoaster-ish joy?
00:22:58.620
Now, his girlfriend said, everything is so nasty and so vitriolic nowadays.
00:23:09.800
I mean, if everybody could experience that peace that we had up there, the kindness and what it takes to do what we did, the very world would be a better place.
00:23:24.660
Uh-huh, Gail King said, I'm so proud of me right now for the courage.
00:23:37.640
But the best part was when we got back in our seats after Zero Gs, Katie sang, What a Wonderful World.
00:23:51.380
Because we'd been asking her to sing all the time, and she wouldn't, and she wouldn't, because everybody said, sing Roar, sing Fireworks, and she said, it's not about me.
00:24:02.740
I'd be praying for this thing to crash into a mountain on the way down.
00:24:06.080
If I was on that thing, I would be hoping for it to burn up in the atmosphere.
00:24:13.500
Yeah, we missed the part of her actually saying, I'm so proud of me right now because it took so much courage.
00:24:35.880
Now, I would say it is brave if we trusted those people to be the crew.
00:24:40.540
Well, then, yeah, it would be very brave to get on that thing.
00:24:55.880
So, I don't, I mean, I guess there's some bravery if they actually were responsible for anything,
00:25:09.340
I don't know if you heard it all over the moon.
00:25:11.680
You guys, I have to tell you, look at the moon.
00:25:39.420
It's like going, you know, I'm sure it's on an, it's like an amazing roller coaster.
00:25:42.760
But I don't know that necessarily we should have been hearing about it at all.
00:25:46.380
I think Katy Perry said it best when she said, and I quote,
00:26:00.040
These are not, like, these aren't even sentences.
00:26:16.780
What does it mean to model worthiness by taking a flight as a celebrity into a spaceship?
00:26:29.520
She had to work to become famous so she could get on that ship that nobody else can.
00:26:35.980
Because she's super famous and because of her mediocre singing that she could get on a flight
00:26:40.940
owned by the guy who delivers all of our pet food?
00:26:44.620
Now, she went on to say, and this is where her worthiness comes in.
00:26:48.860
She says, I feel really connected to that strong, divine feminine right now.
00:26:55.040
In the ship that looked like a giant penis that a guy built?
00:27:13.820
I think they were all very worthy of that flight.
00:27:21.680
But I wouldn't come down going, I was so worthy.
00:27:33.880
That's why I was up, you know, when we were up in the air, I was going, ah!
00:28:02.900
I mean, it's like, you know, we're just shooting them into space.
00:28:11.240
Eventually, we'll just start picking celebrities to launch into the sun.
00:28:14.420
I guess, I, I don't, there's been tons of people who have done this.
00:28:17.740
This was like, sort of like, quote unquote space, right?
00:28:22.040
Like, it was like a really, I mean, I'm sure it was impressive.
00:28:26.880
But it's like, it's, it's just a big high flight.
00:28:30.520
Like, it's not, it wasn't like anything that hadn't been done before, right?
00:28:34.620
Like, it wasn't, there was no, I guess just the fact that they put a bunch of people
00:28:38.180
with vaginas on the flight, that was the big notable thing?
00:28:46.240
Because, because, because they, they don't represent mankind.
00:28:58.080
One big step for, one small step for women, one large step for womankind.
00:29:10.120
I just feel like this was just Jeff Bezos looking to hook up with a bunch of people.
00:29:15.640
And we were all like, let's watch it on the news.
00:29:18.840
I mean, he put a bunch of people that he wants to sleep with on a penis.
00:29:24.240
I mean, it's honestly, it is like a Austin Powers movie.
00:29:29.140
It really is like what you would see in Austin Powers.
00:29:46.520
You know, I mean, there's been questions about his personal life.
00:29:59.200
Obviously, it's not industry-leading technology.
00:30:03.160
It seems like it's like third or fourth place technology.
00:30:08.700
It seems like an expensive way, I got to say, to pick up women.
00:30:13.860
There's got to be something easier than sending them into space.
00:30:17.680
Bezos, I just figured these supplements could help with something.
00:30:28.600
That's not a cheap date that's happening right there.
00:30:32.000
You're paying in all kinds of cash for dating that way.
00:30:42.180
Bezos, as he's going to get his hot babe out of the capsule,
00:30:47.680
We love being able to share this experience with you,
00:31:03.120
I keep hearing he face-planted, which he sort of does,
00:31:07.300
but it was a slow descent to the earth with Bezos falling there.
00:31:14.080
It was like a fall onto the knee, onto the chest, onto the face,
00:31:18.460
and the hands don't really get there in time to stop it.
00:31:21.140
And that's kind of amazing, because he looks like he's in incredible shape.
00:31:25.840
I mean, considering, you know, all the time he seems to spend in the gym these days,
00:31:31.020
I mean, because when Biden fell off the bike, it reminded me of that.
00:31:36.880
We had full conversations in the time when it went from the bike standing up to the bike
00:31:51.720
Check out the full show podcast anywhere you download podcasts.
00:32:01.040
It's tax day, and our taxes are only going to get worse and worse and worse
00:32:06.280
if we don't control our spending and inflation.
00:32:18.820
The 2019 deficit, or let me see if I can find exactly what I was talking about.
00:32:33.300
$2.7 trillion inflation adjusted is $3.3 trillion today.
00:33:00.080
And what's fascinating is what's the cause of all of that?
00:33:07.500
I mean, Biden authorized about $4 to $5 trillion of new spending when he was in office.
00:33:16.680
Like, this was not a, this is not a, you know, remember Biden was brought in as like a return
00:33:22.120
And we're just going to, we're going to be sane people.
00:33:27.120
Remember, he was going against Bernie Sanders, right?
00:33:30.740
Well, then he was just like Bernie Sanders and did all the spending and really went
00:33:36.440
And I, you know, we brought this up before, but like, I just don't understand why Republicans
00:33:40.540
aren't looking at every single dime spent and saying, absolutely not.
00:33:46.180
This, these crazy bills that were passed, we can over, we can overcome them.
00:33:56.700
It's going to go through Congress, which is, has these tax cuts.
00:33:58.920
And part of the trick, as you've mentioned before, is they say tax cuts, but what they
00:34:10.720
This is not what the American people voted for.
00:34:13.260
You know, Donald Trump said tax cuts and, and everybody interprets that as an actual cut to
00:34:20.080
the taxes I'm paying, not a, not an extension of the same tax I'm paying into the years
00:34:31.040
So these are the two things the right are talking about right now, apparently, which
00:34:34.340
is one, make Trump's previous tax rate, the ongoing tax rate permanent, which, again,
00:34:43.020
Would be better than raising it to the former rate, but it's not enough good enough with
00:34:48.360
You have to make, you have to attract people to start businesses and bring businesses here
00:34:54.480
by actually giving them the most competitive tax in the world.
00:35:01.340
And of course, obviously, when it comes down to prices, you have tariffs are a tax, right?
00:35:07.080
That's a little bit of pain, as Trump's talked about.
00:35:09.020
So you need to be able to alleviate the pain, not by making the current rate go on.
00:35:16.460
The other proposal by the right seems to be making the tax rates permanent from the Trump
00:35:21.960
tax rates, except for the highest bracket and returning those to the old rates.
00:35:27.600
If those are the two proposals, we're in serious trouble.
00:35:30.440
Part of the problem here, though, to be fair, is scoring this bill.
00:35:34.580
When they go, when it goes through this entire process, the reconciliation process, the reason
00:35:40.220
why you need that is because you don't have to get 60 votes in the Senate.
00:35:43.980
So you have to go through this reconciliation process to get this passed.
00:35:46.640
So you only need 50 votes, which the Republicans have.
00:35:49.260
The problem with that is it has to have, it has to be a situation that lowers the debt,
00:35:56.860
So that's the rule to only have to do with 50 votes.
00:36:01.640
Well, I mean, my only point here was going to be what they're saying, what the way this
00:36:08.400
gets scored, right, is that they say the keeping the rates permanent is a cost because if we
00:36:17.000
didn't change the law, the rates would go up and we get more money from taxes.
00:36:20.280
That's how that's scored, which to me is unfair and ridiculous.
00:36:22.720
But when you can dive into these programs that Biden has passed and authorized a bunch of
00:36:31.900
spending, much of which has not gone out the door yet, you can go in there, cut slash all
00:36:38.600
of that stuff and make all sorts of savings against those BS cost increase.
00:36:46.520
I mean, I feel like Jeff Bezos is like, I don't have sex with that idea.
00:36:57.960
So you got to say, okay, well, I can save you a lot of money.
00:37:02.100
How much was the, you know, inflation reduction act, which Biden is on record saying it had
00:37:08.880
nothing to do with inflation, had everything to do with global warming.
00:37:12.180
Well, the president doesn't believe in that nonsense.
00:37:18.220
The Republican senators don't believe in that nonsense.
00:37:25.760
And the way, again, these things get scored is if the money is expected to be spent and
00:37:32.720
you say now it will not be spent, that is a good improvement on your scoring.
00:37:38.140
Like it's going to help you get across the finish line and what they would say, pay for
00:37:44.240
I despise more than anything in the world, but pay for the tax cuts.
00:37:48.220
You have to be able to get that thing to score out appropriately.
00:37:51.580
Republicans are flirting with an idea, which I think is the sane idea in reality, which
00:37:56.120
is, hey, well, we're, this isn't costing us anything because we're just keeping the rates
00:38:03.340
And we don't know how that will work in the courts.
00:38:04.780
It seems like they're trying to do that and it would help them become more aggressive
00:38:12.920
The tariffs may help as well, by the way, with, with the scoring process, which is one
00:38:17.640
of the reasons it's been rumored that they're doing them.
00:38:21.540
I kind of hope it is because if it's just a scoring mechanism and maybe they go away,
00:38:28.520
But, you know, in theory, if this tariffs are bringing in a bunch of money, they could
00:38:32.600
say, well, if they put them in a bill, they could theoretically get the expected savings
00:38:39.560
from that, expected gains, excuse me, from that as far as revenue.
00:38:44.400
And that could, you could offset that with cuts.
00:38:46.380
That would be a positive way that this might play out.
00:38:49.680
So let me just, let me explain something on how things work.
00:38:52.940
But, okay, when people say, you know, tax cuts, that's only for the rich.
00:39:05.020
Second of all, because the really, really, really, really, really, you think George Soros
00:39:17.780
He's living off of, off of his capital gains, which is what?
00:39:34.080
And if you don't like that, then you have to change the law and make capital gains over
00:39:47.560
Because the rich are all powerful and will call up every friend and every favor they have
00:40:00.140
It's affecting the people that might have a million dollars.
00:40:04.920
Now you think that's a lot, but if you're a businessman, that's about what it takes to
00:40:10.800
You've got to have the money to be able to open up the business, start the business and
00:40:18.340
Those are the people that are going to be hurt.
00:40:20.020
Those were the people that were hurt during COVID.
00:40:22.420
All of your local employers that were struggling to make ends meet might've had a business that
00:40:31.640
That means their business is doing about a million dollars.
00:40:34.360
And they're still living on the edge, even though they own a business and everything
00:40:43.180
If you cut their taxes, then they can hire more people and expand their business.
00:40:49.280
And if you cut their taxes along with the lower, you're going to have people that can
00:40:59.460
We just lose money because they're not paying their fair share.
00:41:02.280
No, you're expanding the base for every dollar that they are not spending going to the government.
00:41:10.520
They're probably going to spend it on their business to enhance their business, grow their
00:41:15.420
business, which means they will hire more people.
00:41:18.160
And those people now share the burden by paying taxes.
00:41:26.540
If you grow your way out of it, this is Donald Trump 101.
00:41:32.420
So why it's not happening, I don't know, but he knows all of this.
00:41:35.860
So you get more jobs, more tax revenue is collected.
00:41:41.100
When you spend less, you incur, just think of the United States as a, somebody coming into
00:41:48.220
a bank for a loan, you going into a car dealership to get a loan.
00:41:53.100
If your credit is 400, you're going to get a loan.
00:42:04.460
We are somebody that's walking into a car dealership with bad credit.
00:42:16.520
They don't believe we're going to get another job.
00:42:24.360
Well, we lose a lot of banks like China and Japan and Germany and everybody else that was
00:42:34.420
So we've lost our biggest bank because we don't look dependable.
00:42:39.800
So when you go in and you really reduce your spending, all of a sudden the world says, oh,
00:42:47.060
well, they're serious about fixing their problem.
00:42:49.420
If you do just one of these things, tariffs, cutting spending or taxes, it's not going to
00:42:57.800
But cutting spending is the only one that will make people go around the world, oh, looks
00:43:04.760
If we cut taxes, we cut spending, and then we cut regulation.
00:43:17.120
Because for everything that is set into regulation, that means every business, every person has
00:43:27.060
You have to have more people in between you and the thing you're trying to accomplish.
00:43:37.600
I got to spend money on attorneys to make sure I'm in compliance with everything.
00:43:42.300
The more attorneys I hire, the less regular people I hire.
00:43:46.280
And I don't know about you, but I think America has far too many attorneys.
00:43:55.340
They are there to say no so you don't get into trouble.
00:43:58.760
If you leave things up to an attorney, nothing's going to happen, because they just view the
00:44:07.900
The creators come in, and they need good attorneys.
00:44:12.020
But you don't want a buttload of attorneys, because now you're outnumbered, and they're going
00:44:18.080
And you're spending all of your money on attorneys.
00:44:34.820
That means I have an easier time to accomplish my goals as a small business person.
00:44:39.640
I can start this, because I don't need millions of dollars just to get through all the regulations,
00:44:46.680
all the hurdles that the government is going to do, as a small business person or a big
00:44:53.020
If I'm a country that has to deal with more regulations than any other country in the world,
00:45:00.540
You want to go ahead, wrestle through their regulations.
00:45:06.940
You have to cut that, then you cut the taxes on everybody, you cut your spending, and then
00:45:20.960
That's the package that Donald Trump was talking to us about.
00:45:26.960
It's now Congress's turn to go in and just return us to the spending of 2019.
00:45:48.820
Bank more encores when you switch to a Scotiabank banking package.
00:45:54.580
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