The amount of money that flows out of the United States each year through remittances to third-world countries more than triples the amount of foreign aid that the government hands out each year. But how much is being sent at a 0% tax rate?
00:01:15.900So you've uncovered that IRS records that there's a minimum of $150 billion transferred outside of the United States each year through remittances or payments sent by immigrants in the United States to people, mostly relatives, but relatives and others outside the United States.
00:01:39.600But you say that number is actually much higher.
00:02:10.180And just so people understand that level of money, we're talking about $65 billion, Roger, being the total amount that the U.S. actually issues in foreign aid, meaning that the amount of money that is sent out of this country each year in remittances more than triples the amount of foreign aid that the government hands out each year.
00:02:30.120So we're not talking about a small figure.
00:02:32.840And this is money that's being sent outside of the United States at a 0% tax rate.
00:02:39.280Really unbelievable, Roger, that we don't tax this money being sent out at all.
00:02:44.800Now, you mentioned $150 billion, $300 billion.
00:02:48.780There's about $150 billion in remittances or money sent outside the country that we can track,
00:02:55.080that the IRS is supposedly, although we're told the tracking is very poor and that these transfers are really rarely audited by the IRS.
00:03:04.340We're told that $150 billion of it is accounted for and that at least 100% of that total is remitted each year without being tracked.
00:03:14.280So $150 billion of this, Roger, is completely untracked.
00:03:17.140$150 billion is totaling $300 billion, leaving our shores with zero to show for the American people.
00:03:23.140I see that many countries, including Mexico, create actually a significant amount of their own GDP through these monies transferred from the United States.
00:03:34.180What percentage of Mexico's gross domestic product is purely through these remittances from the United States?
00:03:40.900Well, Roger, a large percentage of the remittances that are sent from the United States end up in Mexico to the tune in 2023 of $63 to $67 billion.
00:03:54.180That's 4% to 5% of their entire GDP there.
00:03:57.960And you'll be interested to find, Roger, you go to many third world countries, whether it's Jamaica or other countries around the world,
00:04:06.940you'll find that large percentage of their economies are made up of people in the United States sending money back, again, at 0% tax.
00:04:16.320Considering that half of it is completely unaccounted for, Roger, you can see why people like the Mexican president are stepping up and saying it would be immoral to tax remittances
00:04:26.100because these countries are really making bank off of the people of the United States and our economy in an under-the-table foreign aid program.
00:04:41.820Now, are there plans to tax remittances in the upcoming Big Beautiful Bill?
00:04:48.600Well, Roger, there were plans to tax remittances pushed by the Trump administration in what I think was a fantastic move, a smart move.
00:04:58.040But I think the figure was far too low.
00:05:00.340The Trump administration in the original version of the Big Beautiful Bill argued that there should be a 5% tax on remittances.
00:05:09.320Now, I'm told that the GOP Senate has objected to this, and they have instead suggested a 3.5%, and that's the current figure that sits in the Big Beautiful Bill.
00:05:19.840But there is speculation, Roger, that it will be eliminated completely and that we will have a 0% tax on remittances stayed by rhino congressmen and people in the Senate that really don't stand for their own voters.
00:05:35.080You know, this is a betrayal of these senators, and I think, Roger, we have to highlight many of them are very wealthy individuals.
00:05:42.400$10 to $20 billion of the total $300 billion, Roger, ended up in tax havens like Switzerland and the Cayman Islands, places where wealthy individuals have been able to send out unlimited amounts of money at 0% tax.
00:05:57.080I think that's playing a role here in why these people don't want to tax remittances.
00:06:03.860So this is not just immigrants in this country, say, working as a domestic or a gardener, sending money to their relatives back in their country of origin.
00:06:14.200This is actually being used to move large amounts of money to avoid taxation.
00:06:19.320Absolutely. And I think that when we look at the you have to ask, why would people within the Senate, within the House, within, say, even the White House, why would they want to to lessen the amount of taxation?
00:06:34.800We research this for a piece, Roger. The average American pays 33 percent of their annual earnings in taxes.
00:06:41.800So can you explain to me why, when we're talking about taxes on money that's sent out of our economy, this is money that's earned here in American jobs and then taken and sent directly out of our economy to the benefit of other countries?
00:06:56.000And we're not saying that that's immoral or that's wrong. We're saying it's wrong that we don't tax it at all.
00:07:02.360And I think it's only fair that we should tax these kind of remittances exactly like how we tax the American people.
00:07:09.100And there's arguments who say, oh, well, it's a double tax. Well, I just told you that half of it is unaccounted for, $150 billion worth.
00:07:17.380So, no. And not only that, but there's there's no IRS auditing of this. We talked about this with several people.
00:07:22.960And the audits on remittances are at best poor. I think we need to double down on monitoring the money that's being sent out, because who knows, it could be even higher than $300 billion.
00:07:33.880And we need to get serious about taxing and taxing highly, because it's my theory, Roger, that I don't think you would really have to have mass deportations if you ended the incentive for these people to come here, take money from our economy and send it back home.
00:07:50.360If you end that, I think you really end the incentive for immigration on hold without having to do a single thing other than change your policy.
00:07:56.780You certainly would remove some of the incentive. Look, I think there's a huge amount of disinformation regarding the big, beautiful bill.
00:08:04.860The most important thing for people to understand is that if the bill is not passed, the result will be a 68 percent across the board federal income tax increase on all Americans.
00:08:16.560No, not just the wealthy, but on all Americans. The Trump tax cuts of his first term, which are being extended in the big, beautiful bill beginning in January, are the largest tax cuts in American history.
00:08:30.600And leftists like Robert Reich, who was the secretary, I think he was the secretary of commerce in the Clinton administration.
00:08:39.700I went to high school with him. He was wrong then. He's wrong today.
00:08:42.980They continue to falsely insist that our deficits and our inflation is caused by tax reduction.
00:08:51.280Yet the lesson of history is the exact opposite.
00:08:54.100Every president, whether it is Donald Trump in his first term, whether it is Ronald Reagan, whether it was John F. Kennedy,
00:09:01.020who did an across the board federal income tax cut, experienced a spike in federal revenues caused by the increase in economic activity, our inflation and our thirty seven trillion dollar deficit is caused by spending too much, not by taxing working Americans too little.
00:09:24.860It is one of the great fallacies continues to be pushed by the far left.
00:09:30.460Now, when you add to it the fact that the big, beautiful bill also does away with the tax on tips, which is a which is a piece of policy genius thought up by Donald Trump himself after talking to a group of cocktail waitresses in Las Vegas when he was campaigning in the silver state.
00:09:48.140It also does away with the tax on Social Security, provides a tax credit for those who buy a car or a truck that was made in America.
00:10:00.660There's much good in the big, beautiful bill.
00:10:04.340There's a few things in there I don't like.
00:10:05.980This this this this portion that says that the states cannot regulate artificial intelligence for 10 years.
00:10:13.240I'd like to see that disappear in the Senate version of the bill or in conference if it passes both houses.
00:10:21.380I think AI is extraordinarily dangerous.
00:10:24.860You can go on true social right now or or X or even Instagram, Facebook.
00:10:31.540You'll see really incredible videos of me saying things that I never actually said.
00:10:38.940You can see videos of Joe Biden and Barack Obama and Donald Trump saying things that they never actually said.
00:10:47.380And without sophisticated AI detection software to the average person, they would actually believe what they see.
00:10:57.140So I think there does need to be some regulation of artificial intelligence.
00:11:04.060Well, Roger, artificial intelligence is being quickly becoming the issue of our time.
00:11:08.660And the issue is going to be that we're going to have a lot of jobs here that are going to be eliminated simply because they're going to be automated by AI.
00:11:17.260And I think we have to make the decision as a society.
00:11:20.480Do we prefer the comfort, the human experience over the advancement of, say, technology that we think might be detrimental to our success?
00:11:30.420We have to be able to adapt these technologies to work for humankind and not against it.
00:11:37.180I think that has a lot to do with the people in control of it.
00:11:40.440People in big tech, Roger, they took your voice away.
00:11:43.160They've taken a lot of people's voices away.
00:11:44.820And I just don't happen to believe that a lot of them are suddenly good guys because they contributed to a certain political campaign or another.
00:11:52.980I think that these people are malicious in a lot of ways.
00:11:55.900And there has to be interference from the government as far as artificial intelligence is concerned because the technology is so dangerous and poises such a threat to our way of life.
00:12:07.120It could destroy the United States if not handled correctly.
00:12:44.440Every single day, somebody on X or on True Social points out to me yet another Roger Stone who pops up on those sites, who designs their page to look exactly like mine.
00:12:59.260And as I said on the show, I was in a restaurant one night and a guy came up to me and said, hey, Stone, where's that crypto I bought from you on Facebook?
00:13:25.200He showed me the messages between himself and somebody posing as Roger Stone on Facebook.
00:13:32.020And I told him, look, you're out of luck, my friend.
00:13:34.340I didn't sell you anything and I don't owe you anything.
00:13:37.300When my lawyers contact Facebook or Meta, when they contact even X or Instagram, they're very slow to respond.
00:13:46.540And then even when they do order the offenders to take down the faux Roger Stones, they pop up three days later with a slightly different iteration on my name.
00:13:57.600So instead of being Roger J. Stone Jr., which is what I am on X, I'm now suddenly Roger J.J. Stone Jr., to give you an example.
00:14:06.960So always be aware, look for the validated profile if you're following me on social media.
00:14:14.760I think social media is a great thing, but it cannot substitute for real life.
00:14:21.360It cannot substitute for spending time outdoors, spending time with your family, reading a book, the human experience.
00:14:29.980I think some people go into the world of social media and the Internet and they just never come out the other side.
00:14:37.500They begin to believe it is real life in itself.
00:16:26.700We're talking to Troy Smith, a media entrepreneur.
00:16:30.100He is the editor and publisher of Slingshot News.
00:16:34.940And we just talked about his stunning report that indicates that almost $300 billion is shipped out of the country by immigrants living here to other countries, to individuals and institutions in other countries.
00:16:51.120Yet there's no benefit to the American people.
00:17:15.520And we appreciate your breaking it here in the Stone Zone.
00:17:19.080So the real question, we've only got about two and a half minutes, but the real question on the table, of course, is what will President Trump decide?
00:17:27.520I've already said that I will support his decision regardless of what it is.
00:19:20.920So I think from the United States perspective, in order for I and millions of other Americans to be supportive of some kind of support for Israel, I think we need to see the Israelis take legitimate action to end their allegiance with the Chinese, the people funding the missiles flying into their country.
00:19:39.160And that would be a much more serious argument that I think a lot more people would listen to.
00:19:43.840Yeah, I still don't believe some of the more draconian voices like Steve Bannon and others who say that will be the end of the Trump presidency, will be the end of his legacy.
00:19:54.200I think that would be true if he got us mired down in a long-term foreign war where our interests are not clear.
00:20:02.460Our interests are abundantly clear here.
00:20:06.380And the president is way too smart for that.
00:20:28.680He has information that neither you nor I have, Troy, or the American people.
00:20:34.500I was encouraged to hear that he was going to do a televised address.
00:20:38.480But now I see that they have not scheduled a specific time for that.
00:20:43.320But when he does, when he makes his decision, I have every confidence that he will go before the American people and explain exactly why we are doing what we're doing.
00:20:53.740He said 15 times during the campaign and multiple times since he was elected president that Iran cannot be and will not be allowed to have a nuclear bomb.
00:21:05.740Donald Trump is a man who believes, says what he means and means what he says.
00:21:10.700Thanks for joining us today in the Stone Zone.
00:21:13.060Until tomorrow, God bless you and Godspeed.
00:21:16.180Thanks for listening to the Stone Zone with Roger Stone.
00:21:20.400You can hear the Stone Zone with Roger Stone weeknights at 8 on 77 WABC.
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00:21:44.440See you next time for a new episode so you never have to wonder.