Valuetainment - ＂Destroys Small Businesses＂ – Mamdani’s Socialist Wealth Tax Could BANKRUPT New York

00:00:00.000 Want to talk ETFs with the people behind them? Join me, Etienne Jean-Cabouchard, on the Upside

00:00:05.100 Ticker Talk. We dive into what's moving markets with timely analysis, trends, and answers to ETF

00:00:11.480 questions you've actually been thinking about. Hit play on the Upside Ticker Talk and elevate

00:00:16.480 your ETF investing IQ. I don't know if you saw the Mamdani clip, what he said over the weekend,

00:00:21.080 if you want to go to Mamdani's tweet. Mamdani, you know, warning to wealthy New Yorkers about 0.86

00:00:26.740 a fair share sparks firestorm you know how he went out there saying hey when it comes down to

00:00:32.160 real estate if you have a second home in new york city worth more than five million dollars check

00:00:37.040 your mailbox when you're back in five boroughs because you've got mail today we send notification

00:00:41.800 to property owners letting them know that a new uh pita tear tax is coming soon the best city in

00:00:48.180 the world deserves the best parks libraries and schools in the world that's the only possible when

00:00:53.260 we all pay our fair share again this is the language of socialist communist and i responded

00:00:58.320 and i said consequences of this policy more money leaves your state more jobs leave your state no

00:01:04.280 incentive for the wealthy to buy property in new york city property value drops more construction

00:01:09.540 workers lose job realtors lose income and then bernie sanders sends his tweet yesterday and

00:01:15.920 here's what bernie had to say elon musk's wealth in 2012 2 billion today 719 billion jeff bezos

00:01:23.240 So it's 18.4.

00:01:24.660 Today, $255 billion.

00:01:27.040 Can you go on his tweet before you read mine?

00:01:28.680 Yeah, right there.

00:01:29.780 Zuckerberg's net worth, $17.5.

00:01:31.560 Today, $212.

00:01:32.740 Federal minimum wage, $2009, $725.

00:01:36.420 Today, $725.

00:01:38.820 And so I responded to him and I said, hey, respectfully,

00:01:41.700 raising the minimum wage helps billionaires.

00:01:44.120 None of these companies pay minimum wage.

00:01:46.140 None of them do.

00:01:46.760 Matter of fact, it'll have 100% impact on small businesses

00:01:51.140 that cannot afford to pay, like Fortune 500 companies,

00:01:54.920 can 47% of workers work for small businesses.

00:01:58.240 Socialist policies destroy small businesses.

00:02:01.760 By the way, I looked into it.

00:02:03.700 Do you know how many people, Tom, in America make the 725?

00:02:08.120 What do you think the number is?

00:02:09.640 I actually was curious to know what that number was.

00:02:11.780 I don't think it's a very big number.

00:02:13.060 We have over 105 people that aren't even working right now.

00:02:16.420 105 million.

00:02:17.480 105 million not even working, and we've got 300 million in the U.S.,

00:02:20.420 So that leaves about $200 million.

00:02:23.260 This is just a swag spontaneously, but I would say maybe 10 million people make that.

00:02:28.720 Tom, 79,000 people only get paid $7.25 an hour.

00:02:33.300 Wow.

00:02:33.680 Because I know you go to In-N-Out Burger, they probably say $10.50,

00:02:37.240 but you have to go through training, you have to be a good person,

00:02:40.200 you have to do all these things.

00:02:40.900 Only $79,000.

00:02:43.920 If you look it up in Grok or ChadGBT, it'll say $6.50 or $8.50,

00:02:48.760 but they're talking about 1099 commission when people reported tips and all that stuff.

00:02:52.480 I'm asking hourly, only 79,000 people in America last year,

00:02:57.080 according to the business bureau, only 79,000 made $7.25 an hour.

00:03:02.460 I stand corrected.

00:03:03.380 I was trying to back into like the number of teenagers and things like that.

00:03:06.460 And the average age, guess what the average age is?

00:03:09.260 Guess what the average age is of somebody making $7.25 an hour?

00:03:12.580 It's a young kid.

00:03:13.440 16?

00:03:13.780 19, I was going to say.

00:03:14.980 It's not 16 years old, but it's under 25.

00:03:16.860 A big chunk of it is under 25 years old that are making $7.25.

00:03:19.880 And guess what markets it's in?

00:03:22.100 Rural areas, Arkansas, you know, South Dakota.

00:03:26.160 You're not going to get no $7.25 in metropolitan cities. 0.79

00:03:29.860 Ain't nobody making $7.20 unless if they're like a waitress

00:03:33.020 and the way they get paid is that number plus tips. 0.90

00:03:36.520 And the waitress is a waiter.

00:03:37.440 They're like, yeah, I don't care about that.

00:03:39.060 But there's a video that's gone viral on X.

00:03:43.340 And I want you to see this clip, folks,

00:03:45.280 because it shows how open independents are to socialism

00:03:49.700 and how open Democrats are to socialism.

00:03:54.540 Watch this video here. Go for it.

00:03:57.660 Socialists winning Democratic primaries.

00:03:59.760 Look at that.

00:04:00.460 Candidates from the far left.

00:04:01.640 And look at this here.

00:04:02.780 Among Democrats, this is that Fox poll,

00:04:04.840 a majority have a favorable view of socialism.

00:04:07.920 Step outside the Democratic Party.

00:04:09.680 It's a totally different world.

00:04:11.180 Look at independence, socialism, deeply unpopular there.

00:04:14.580 So is that a vulnerability for Democrats that would keep them from capitalizing on Trump's

00:04:19.300 obvious weaknesses here? Look more specifically at the two chambers here. Senate side,

00:04:23.340 this, if you're a Democrat, this is the particularly tough one. They need a net

00:04:26.760 gain of four seats to get control of the Senate. Take a look at the map here. How would they get

00:04:31.600 four? Four is their target number. First thing, they can't lose ground. Georgia, New Hampshire,

00:04:37.140 Michigan, Democratic seats, big primary coming up in Michigan in a few weeks there. They could

00:04:41.620 have general election implications. Democrats have

00:04:43.640 to win those just to not lose ground.

00:04:46.220 Then the two Republican seats they

00:04:47.620 think they have the best shot at would be 0.98

00:04:49.420 Susan Collins in Maine. Democrats have a new candidate 0.95

00:04:51.460 there now. And in North Carolina where Democrats

00:04:53.780 have nominated the former governor

00:04:55.300 every season. Okay, so now

00:04:57.240 when you look at this, Tom posted something on

00:04:59.460 Twitter. I just sent it to you guys if

00:05:01.500 you want to pull it up. Look at the East Coast

00:05:03.620 voters and perceptions they have about

00:05:05.460 California. It's bad. Look at this number here.

00:05:08.100 2020 Democratic presidential

00:05:09.620 poll. Can you talk about this, Tom? Yeah, absolutely.

00:05:11.620 So I focused on Gavin Newsom because, remember, for a year, Gavin, Gavin, he's our guy.

00:05:17.820 He can't get over 25 percent, and that's the problem.

00:05:21.400 So there's the battle cry.

00:05:23.100 And now this is the Granite State poll.

00:05:25.800 This was done in New Hampshire.

00:05:27.900 Why was it done in New Hampshire?

00:05:29.600 It's bipartisan, and it was done to get us ready for the primary season.

00:05:34.040 This is not a Fox poll.

00:05:35.360 I know it says Fox News.

00:05:36.440 Fox is reporting on it.

00:05:37.340 But last week, we reported on another non-Fox poll, and this is Fox broadcasting a non-Fox poll.

00:05:44.380 The point is, these are both out there.

00:05:46.060 Take a look.

00:05:46.980 Now, picture, Vinny, picture the stage for the Democrat primary.

00:05:51.500 That's the poll.

00:05:52.720 These are all the people.

00:05:53.740 Pete says, I want to run all this.

00:05:55.580 Pete Buttigieg got some residual from last year.

00:05:58.640 But look at Gavin Newsom.

00:06:00.200 When you go east, Gavin Newsom's numbers go down.

00:06:04.480 And the East Coast perception, perception polls of California, people talk about homelessness, fires, and all that fraud stuff.

00:06:16.460 That's as deep as they go.

00:06:18.100 But East Coast voters have those perceptions of California, and those are stuck like Velcro to Gavin Newsom.

00:06:24.500 When he goes east, his numbers go down.

00:06:26.540 And if you look at favorability ratings, he now is net favorable has gone down.

00:06:32.580 So forget about the polls.

00:06:33.740 The favorability has gone down because they measure that because if your favorability is down, the polls that follow you will usually be even more down.

00:06:44.100 And this is exactly what is happening to Gavin Newsom.

00:06:46.940 Meanwhile, somebody who also had something to say about June 14th, and he turned out to be right about that and the president and what he would be doing on June 14th, told us a year ago or more, said, hey, you know, you need to watch out.

00:07:03.560 It's not just that she's photogenic.

00:07:05.460 She carries a message, and she motivates the base.

00:07:08.480 Forget what you're saying about your feelings about her, and is she a policy wonk or not.

00:07:13.240 Patrick said she is an incredible candidate, and that's all you have to be.

00:07:19.100 You don't have to be a policy wonk.

00:07:20.740 You don't have to be Rand Paul.

00:07:22.100 You don't have to be Trey Gowdy.

00:07:23.520 You have to be a viable candidate that moves voters.

00:07:26.880 And a year ago, Pat talked about it.

00:07:28.480 And guess what, Pat?

00:07:29.280 Here you go.

00:07:30.880 Guess what?

00:07:32.100 Oh, maybe a VP candidate?

00:07:33.960 No, leading.

00:07:35.080 No, no, no, no. 1.00

00:07:35.800 She's a lead dog.

00:07:36.700 And the only difference between her and Bernie is she's not going to drop out.

00:07:40.000 She's not.

00:07:40.480 Bernie dropped out in 2016 and gave it to Hillary Clinton,

00:07:44.480 and she's going to be like, no way.

00:07:46.080 She doesn't fear anybody.

00:07:48.860 And she can prove her point to say, look what my guy is doing in my city,

00:07:52.760 and I helped him become famous, and his name is Mamdani.

00:07:56.420 Everybody is somebody's person, right?

00:07:58.540 Do you understand what I'm saying?

00:07:59.240 Like, who is Mamdani's person?

00:08:02.680 Mamdani is whose person? 0.78

00:08:04.660 AOC.

00:08:05.180 AOC.

00:08:05.820 Of course.

00:08:06.360 You can say whatever you want.

00:08:08.220 AOC helped Mamdani become, don't give me, not the talent, that's Mamdani,

00:08:12.620 but AOC built up his image into who he is today.

00:08:15.400 So she is becoming a power player.

00:08:17.660 The most important reason why everything I showed you, 0.61

00:08:20.340 the Mamdani clip of him taxing people, the Bernie Sanders, 0.97

00:08:24.720 and then the video of socialism,

00:08:26.160 Democrats are open to the idea of socialism.

00:08:29.160 Independents are not.

00:08:30.000 The question becomes, that'll benefit them in the primary.

00:08:33.040 I just don't know how it's going to benefit them in the general election

00:08:35.340 because they're going to need independence.

00:08:37.100 I don't think they're going to get them.

00:08:38.320 I just don't think they're going to get them.

00:08:39.840 I think that's going to be a problem.

00:08:40.980 Adam, your thoughts on this?

00:08:43.580 Well, you know, they famously said in the movie Wall Street, greed is good, right?

00:08:47.740 But everyone's a little bit greedy.

00:08:49.560 The capitalists are greedy because they want to earn and keep the money that they've made,

00:08:54.920 whereas the communists are greedy because they want to tax and seize and they

00:08:59.320 pretend that it's noble look at me we're gonna choose to do way better things with

00:09:03.560 you with your money but America if you want to look at America as a 30

00:09:08.120 trillion dollar economy who do you want actually leading the economy do you want

00:09:13.100 a capitalist who knows what he's doing is run businesses before cease with

00:09:16.320 executives that actually know how to budget and understand fiscal prudence or

00:09:20.480 Or do you want some slick, talking, smiling, wheeling and dealing person who's never run

00:09:25.640 a business in their life?

00:09:27.060 And they always say, well, working people, working people.

00:09:30.240 My comrades, we're all working people.

00:09:32.420 I don't want regular minimum wage working people running our economy.

00:09:36.920 Are you kidding me? 0.92

00:09:38.080 Next thing you know, they say, well, I want the, well, the next thing you know, the inmates

00:09:41.760 are going to be running the asylum or the prisoners are going to be running the prisons.

00:09:46.160 And then maybe let's have the kids run the schools.

00:09:48.540 To me, it's all far-fetched.

00:09:50.200 of the capitalists, the people that know how to build businesses, run the businesses and work all

00:09:55.000 you want, whether it's minimum wage. Hopefully you're better than that and you're proving in

00:09:58.960 your life and you work your way up. But the last thing we need are socialists and communists

00:10:03.620 running our American economy because we've seen a million different examples of why it failed.

00:10:09.460 So let's use smart. Well, Adam, you're saying that, but I want you to know, I want you to watch

00:10:13.460 this. You were there when we were to Jubilee. This video popped up on Wall Street bets.

00:10:17.360 I just want you to see the interaction of what they think.

00:10:20.020 Go ahead.

00:10:22.240 Can you survive?

00:10:23.180 Would you like to live off $7.25 an hour?

00:10:26.000 I used to work for $4.25 at Haagen-Dazs.

00:10:28.760 Right.

00:10:29.040 And that was a very different time.

00:10:30.460 Then I want to work at Burger King for $4.75.

00:10:32.180 And how much do you make now?

00:10:32.800 Then I want to, I make millions today.

00:10:35.220 Right, and that's why you like capitalism, because we're not all making that.

00:10:38.040 But the difference is, a millionaire is critiquing people in poverty and saying,

00:10:42.500 you should work harder, you should work, you know, you can be me.

00:10:45.380 We can't all be you.

00:10:46.280 My hope is that you believe you can change and improve, that you believe you can upgrade yourself.

00:10:52.140 That's my goal.

00:10:52.540 It's very, you know what, that's what rich people like you want to keep telling us.

00:10:56.020 You can be just like me.

00:10:57.420 Do you want to be like me?

00:10:58.580 If you work hard enough, you can be like me.

00:10:59.920 I'm not saying that.

00:11:00.200 It's not very realistic.

00:11:00.960 It's actually you wouldn't be able to be like me because you wouldn't work that hard.

00:11:03.600 You're talking down to people like us.

00:11:03.920 Would you work that hard?

00:11:05.040 You don't, I'm not going to tell you, I don't have to answer that.

00:11:07.100 Would you, if you don't choose to.

00:11:08.680 I don't have to measure my, like, I don't have to measure my work ethic to be worthy.

00:11:13.640 By the way, I don't have to measure my work ethic should be worthy.

00:11:17.100 Guys, millions of people agree with her.

00:11:19.920 Absolutely.

00:11:20.660 Millions of people think it's not their fault.

00:11:22.540 It's somebody else's fault.

00:11:24.020 And by the way, to me, it's also if you read the book Regime Change, one of the things in the book Regime Change, which is actually a very good book to read, it's already sold a half a million copies.

00:11:32.380 They talk about the one issue that Republicans are getting arrogant about and they cannot.

00:11:38.580 And that's affordability.

00:11:39.800 I'm going to keep saying this over and over again.

00:11:41.980 Find a way to eliminate taxes for anybody under the age of 30, no federal income tax until you turn 30 years old for you to have a house, have kids, do all of that.

00:11:51.460 I think I think they do need to pay attention to affordability.

00:11:54.200 So I think millions of people are sitting there saying Republicans don't care about me and they got to find a better messaging.

00:11:59.180 I do believe that. I think Rubio, J.D., whoever's going to be on the other side, has got to have a better argument for it.

00:12:04.000 Adam, I think you want to say something. Yeah, I just I want to end with a little bit of optimism because I think as that poll shows,

00:12:10.560 I think the average American is way smarter than these highly educated victim mentality college kids.

00:12:17.640 So, yes, the DSA has infected the Democratic Party, and I hope they figure it out.

00:12:22.620 But that poll just showed that 70-plus percent of America want nothing to do with socialism, communism, none of that.

00:12:31.060 So playing the victim will not work out for you.

00:12:32.700 How many million-dollar earners do you think live in New York City?

00:12:35.560 How many Jews do you think live in New York City?

00:12:37.800 How many business owners do you think live in New York City?

00:12:40.560 How many billionaires do you think live in New York City? 0.72

00:12:42.820 A Democratic Socialist Islamist won the mayoral race. 0.98

00:12:47.400 Full drop. 0.98

00:12:48.160 Just letting you know.

00:12:50.300 Can I add to what you're saying to that?

00:12:51.800 And, P.B.D., one thing real quick.

00:12:54.340 You're absolutely right.

00:12:55.440 And that's why I never try to attack Momdani or even AOC all that much

00:12:59.440 because it's not them.

00:13:01.300 They're the poster child.

00:13:02.480 It's the people that are voting for them that we need to convince

00:13:05.060 you need to be smarter, you need to be better.

00:13:06.820 But there is a massive problem.

00:13:08.240 And just to let you know, do you know how many people own second homes in New York City valued over $5 million?

00:13:13.280 How many?

00:13:13.860 $13,000.

00:13:15.200 So his Pierre Deterre tax is going to seize $500 million a year from them. 0.61

00:13:20.800 And that's how cash gets handed straight to illegals.

00:13:23.400 And that's why, guys, this has been a brilliant Democrat ploy, Pat, for the four years under Biden. 0.78

00:13:30.100 Import all the illegals.

00:13:31.920 Fight tooth and nail anybody that even tries to stop or close the border. 0.99

00:13:36.740 Then the illegals come in here. 0.99

00:13:37.900 Now you make it legal for them to vote, and it's actually illegal to ask them for IDs, especially in California. 0.99

00:13:42.580 And then you promise them free stuff.

00:13:44.560 That is it, Adam. 1.00

00:13:45.580 And I do blame, by the way, all the, they're useful idiots, but they're very, very, they're aware of what they're doing. 1.00

00:13:51.340 The AOCs and the Mamdani's, those are the, he's the Trojan horse of this country, Adam. 1.00

00:13:56.320 And where's the biggest population? 1.00

00:13:57.700 You're in Israel.

00:13:59.060 The most Jewish people are where?

00:14:00.660 Where you're at. 0.99

00:14:01.480 Where's number two?

00:14:02.960 New York City.

00:14:03.820 New York City.

00:14:04.020 Okay?

00:14:04.540 He's not, he's not, he's making everybody with money leave.

00:14:07.520 And Pat, my question, I think I asked you this

00:14:09.160 What's going to happen with all the rich people leave?

00:14:11.960 Where's he going to get all this money from?

00:14:14.100 Where?

00:14:14.960 Where? 1.00

00:14:15.640 The middle class 0.99

00:14:16.540 All your taxes are going to go up 1.00

00:14:18.300 All your city services are going to get cut

00:14:20.220 Because there's not enough revenue and fees

00:14:21.740 All the fines are going to go up

00:14:23.300 Everything's going to happen

00:14:24.360 The businesses are going to leave

00:14:25.420 And that's what, he's going to bank

00:14:27.260 Bankrupt that city

00:14:29.200 And it's coming

00:14:30.000 And to act like, well, and Adam, I love your hope

00:14:32.640 The future does look bright

00:14:33.900 Because I think America and God's going to watch us

00:14:35.920 We have to do our part

00:14:36.940 but it's you're not you're not going to slow that down and he's right about the affordability if

00:14:40.960 those young people can't afford anything you know what they're going to do they're going to start

00:14:44.180 hearing the whispers oh what's that guy saying oh free stuff oh i like that oh alc's with him

00:14:49.560 i'm going to vote for them well you know i was decoding the emotional response and i was

00:14:53.880 looking at some things over the weekend and check this out the threading of a socialist message pat

00:15:00.080 you understand messaging i mean you teach on this check this out finney you have a right to be upset

00:15:05.940 Number one, it's not your fault.

00:15:09.160 I will get revenge.

00:15:10.500 That is the three threads of the socialist message.

00:15:13.860 Whether they're talking about a bus.

00:15:15.160 Very effective.

00:15:15.640 Very effective.

00:15:16.440 It's the emotional response.

00:15:17.760 Very effective.

00:15:18.260 Hey, you have a right to be upset.

00:15:19.920 Stop, stop, stop.

00:15:20.660 Listen to me.

00:15:21.200 You have a right to be upset.

00:15:22.880 It's not your fault. 0.98

00:15:24.040 I will hurt them and get revenge.

00:15:25.760 Now, along the way, you may promise to make the subways free or make the buses free and things like that. 0.96

00:15:30.800 Yeah.

00:15:30.980 But the threading of the socialist message is the movement of the mob.

00:15:35.340 It's going to work with a percent.

00:15:37.160 By the way, the biggest thing that's disappointing,

00:15:40.300 it said 52% of Democrats are open to socialism.

00:15:44.560 Wednesday, July 29th, those of you guys that are going to the vault,

00:15:48.640 the networking event that happened here for CEOs and founders,

00:15:52.140 you'll get a tour from Tom or myself that will show you the entire operation.

00:15:56.100 And in executives, you'll get a tour of the people who are bot executives.

00:16:00.580 Our executives will give you a tour.

00:16:01.860 And then Platinum and General, you'll get a chance to network for two hours.

00:16:05.020 I'm getting so many messages, can I come, can I come, get a ticket, go to the vault,

00:16:08.660 commit to it, it'll be people that are going to the vault to network from now,

00:16:11.880 so before they go to the event, they already have a relationship established with each other,

00:16:15.500 and if you don't remember what happened last year, I want to show you how this went last year,

00:16:19.020 it's a 30-second clip of what last year's networking event going into the vault conference

00:16:23.440 five weeks away looked like, go for it.

00:16:26.400 Recently, our company's softball team lost the big game by one run.

00:16:30.240 Then Dale tried to console us with the quote, winning isn't everything.

00:16:34.880 Well, Dale and I are very different.

00:16:38.540 I get early payout from Bet365.

00:16:40.440 If my team goes up big, I get paid out instantly, even if they blow the lead later.

00:16:45.280 Sound familiar, Dale?

00:16:47.080 Thanks, Bet365.

00:16:48.700 Must be 19 or older, Ontario only.

00:16:50.240 Please play responsibly.

00:16:51.060 If you have questions or concerns about your gambling or the gambling of someone close to you,

00:16:53.560 please go to connexontario.ca and see supply.

00:17:04.200 All right, there you go.

00:17:27.300 Again, last chance if you want to be at the networking event,

00:17:30.460 go to Vault 2020.

00:17:31.620 There's so many of you that are watching the same path.

00:17:33.640 I'm going to go.

00:17:34.400 Well, then come in already, vault2026.com, come to the networking event,

00:17:39.460 and let's spend a few days together and go into Las Vegas,

00:17:42.880 picking up new strategies, network, all this other stuff, relationships,

00:17:46.380 take your business and your life to the next level.

00:17:48.760 If you enjoy this video, you want to watch more videos like this, click here.

00:17:51.360 And if you want to watch the entire podcast, click here.

00:17:54.140 We'll be right back.

00:18:24.140 Ontario only. Please play responsibly. Concerned about your gambling or that of someone close to

00:18:25.940 you? Call 1-866-531-2600 or visit connexontario.ca.

Valuetainment - July 29, 2026

＂Destroys Small Businesses＂ – Mamdani’s Socialist Wealth Tax Could BANKRUPT New York

Episode Stats

Transcript