Valuetainment - November 06, 2025


＂Economy Will Go To HELL＂ - Trump FEARS Supreme Court Tariff Ruling Could WRECK U.S. Markets


Episode Stats


Length

13 minutes

Words per minute

183.66884

Word count

2,427

Sentence count

203

Harmful content

Misogyny

1

sentences flagged


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

Trump's tariffs are bringing in a ton of money, but is it enough to replace the income tax as the main source of funding for the federal government? We talk about that and more in this week's episode of the podcast.

Transcript

Transcript generated with Whisper (turbo).
Misogyny classifications generated with MilaNLProc/bert-base-uncased-ear-misogyny .
00:00:00.000 Are Trump's tariffs making money?
00:00:02.900 Check this out, folks, when you look at this chart, okay?
00:00:05.860 Are Trump's tariffs making money?
00:00:08.260 Besant gave a number of what he thinks he's going to be making, okay?
00:00:12.400 Besant says it could make us a trillion dollars.
00:00:15.460 It could make us a lot of money.
00:00:16.980 Rob, how much money have we made so far?
00:00:18.860 Do you have the number on how much money we made so far?
00:00:21.760 It says $142.2 billion more than this time last year.
00:00:26.400 $142 billion more than it made last year, and a growth of 174%.
00:00:39.180 But is it enough to replace the income tax as a main source of funding for the federal government,
00:00:43.640 as Trump administration officials argued?
00:00:46.560 Treasury Department data shows that it would be a massive stretch.
00:00:50.320 Tariff revenue has grown for months, and the latest showing that the U.S. has collected $223 billion.
00:00:57.120 It's pretty wild.
00:00:58.520 As of October 31st, $142 billion more than last year, but it's still short of the $2.4 trillion federal income tax brought in last year.
00:01:07.980 You can tell when you're reading this article, it's kind of like, yes, it did bring $142 billion more,
00:01:13.480 but there's no way you can get $2.4 trillion.
00:01:16.140 Tom, your thoughts on the story?
00:01:17.380 Oh, yeah, like you're comparing it to one full year of income tax.
00:01:21.020 It's like we're really, really proud that, you know, Brooklyn Bet David has reached three foot tall,
00:01:28.760 but that's still far short of Shaquille O'Neal's seven foot two.
00:01:32.720 It's like, what the hell?
00:01:34.860 Really?
00:01:35.480 He just got started.
00:01:36.760 This comparison, oh, it's far short of, look, I think you look at what it's brought in.
00:01:43.220 Number one, it brought in more, $142 billion more.
00:01:46.780 Number two, number two is that it is not showing up as five, six, seven, 10% inflation
00:01:55.760 with the inflation algebra that's tortured numbers anyway, which isn't really what it's supposed to be.
00:02:02.740 And so I look at it, and I'm like, this is a success, but they will take any opportunity,
00:02:09.060 and this is Politico, fun with charts with people that don't normally play with spreadsheets,
00:02:13.360 and it's very aggravating to me because this is good.
00:02:18.080 This is good because inflation didn't happen, yet world concessions to equalize the trade that we have have happened.
00:02:27.640 So why can't we look at that and say, wow, we're just getting warmed up.
00:02:31.880 Can we do more?
00:02:32.860 Yeah, but what people don't look at is that that's $142 billion that is less treasuries that have to be issued.
00:02:40.300 So the fact that you're issuing less treasuries means that you can actually,
00:02:44.960 you don't have to incent people to buy them with a higher interest rate.
00:02:48.180 It actually helps interest rates improve.
00:02:50.320 So while you can look at just the negatives, right, I'm with you 100%.
00:02:53.340 People just look at the negatives, right?
00:02:54.860 The negatives say, okay, well, you know, a third of it's being paid by the country that the goods are coming from.
00:03:01.320 Great, but the consumers here are bearing some of the burden, as are some of the distributing channels here.
00:03:08.260 So it's spread out.
00:03:10.040 However, if we didn't have that, we'd probably be looking at higher interest rates than we would have currently.
00:03:16.420 And when you say treasuries, that's us printing treasury bills that we sell around the world to get cash to pay our own bills.
00:03:23.420 And it's people such as who and who that are buying those.
00:03:26.260 Who's number one?
00:03:27.540 Well, you're seeing right now we're probably buying more of them domestically.
00:03:32.600 Yeah.
00:03:32.960 Because we don't.
00:03:34.000 But the number one international buyer typically last three years is Japan.
00:03:36.880 Japan, number one.
00:03:38.220 But they have really slowed down to almost neutral now as far as what's rolling off.
00:03:42.580 I want you to see this chart.
00:03:43.480 Rob, can you pull up this chart here?
00:03:44.700 Watch this.
00:03:45.300 The spike.
00:03:45.900 You don't need to understand tariffs or numbers to not understand this chart.
00:03:52.560 This chart tells you what's happened.
00:03:54.220 Not this one, Rob.
00:03:55.160 The tariff revenue.
00:03:57.080 That one right there.
00:03:57.860 You got it.
00:03:58.220 Look at that.
00:03:59.320 That's 2022.
00:04:00.620 Monthly, we're averaging around $10 billion of revenue coming in for the last few years.
00:04:06.040 Three years.
00:04:06.920 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 10, 8, 8, 8, 8, 9, 9, 9, 8, 8, 8.
00:04:11.760 Boom, 20, boom, 25, 27, 29, 30, 30, 30.
00:04:17.880 October's going to end up being $34, $32 to $34 billion in a single month.
00:04:24.940 That's nearly 4X-ing some months combined.
00:04:28.360 You take four months combined.
00:04:30.520 We did that in one month.
00:04:31.420 So the sustainability of that.
00:04:34.660 And then now there are some companies.
00:04:36.820 And, Tom, I'm going to come to you with this one as well.
00:04:38.300 Businesses press Supreme Court to strike down Donald Trump's emergency tariff power.
00:04:42.720 Rob, I think you do have a clip on this one from Financial Times.
00:04:47.620 Businesses, lawmakers, and former U.S. officials are pressing U.S. Supreme Court to rule against
00:04:51.900 Donald Trump's use of emergency tariff powers.
00:04:54.460 The head of the showpiece hearing this week, about 40 legal briefs have been filed by groups
00:04:59.900 ranging from U.S. Chamber of Commerce to former national security officials in opposition
00:05:04.580 to the signature policy of U.S. president, has relied on to wage his trade wars.
00:05:09.200 Go ahead, Rob.
00:05:10.120 This is Trump from 60 Minutes explaining the importance of tariffs.
00:05:13.760 Okay, go for it.
00:05:14.580 The economy, the signature part of your economic plan is tariffs.
00:05:19.220 The Supreme Court is going to hear arguments this week on whether you have the authority
00:05:24.020 to impose these sweeping tariffs without congressional approval.
00:05:28.240 The lower courts have ruled against you.
00:05:30.080 That's why it's in the Supreme Court right now.
00:05:31.540 Very close rulings, yeah.
00:05:32.600 What happens to your economic plan if the Supreme Court invalidates your tariffs?
00:05:38.460 I think our country will be immeasurably hurt.
00:05:41.900 I think our economy will go to hell.
00:05:44.820 Look, because of tariffs, we have the highest stock market we've ever had.
00:05:48.660 Because of tariffs, 401ks at the highest level that, and this is millions and millions of
00:05:53.340 people that we've ever had, 401ks.
00:05:55.660 I think it's the most important subject discussed by the Supreme Court in 100 years.
00:06:01.740 Okay, so, Tom, thoughts?
00:06:04.720 Businesses press Supreme Court.
00:06:06.420 I'd like to see some CEOs talking.
00:06:09.060 Right now we've got the U.S. Chamber of Commerce, reputable group, and you've got former national
00:06:14.660 security officials in opposition.
00:06:17.040 Go take a look at what happens when people that work in defense or national security go back to
00:06:22.180 private sector.
00:06:22.860 They end up on the boards of international, multinational companies, often lobbying against
00:06:28.020 us to help those companies profit wildly with trade deals that are tilted the other way.
00:06:33.860 I mean, let's be real about it.
00:06:36.960 Because those, through the miracle of cross-listing, sometimes those companies also are traded on our
00:06:44.660 stock market.
00:06:45.340 But it's amazing to me to see this.
00:06:48.020 I want to know if someone's willing to put their head up above the water and say, me,
00:06:53.020 this company, me.
00:06:54.560 No one's doing that.
00:06:56.040 These are groups of people.
00:06:57.880 And the Financial Times says, businesses, without naming a single CEO.
00:07:02.600 There's three businesses.
00:07:03.480 They're not large businesses either.
00:07:05.120 That's what it is.
00:07:05.920 So they say it, but it's three.
00:07:07.980 And what's being challenged is, does the president have the authority under this IEPA,
00:07:13.040 this emergency protection, under the fact that the president would have authority if
00:07:17.600 it's national security?
00:07:18.920 So when he first did it, it was because of fentanyl, which you could argue is national
00:07:22.780 security.
00:07:23.540 But now what they also have is the point that you made, the chips with China.
00:07:27.920 So that is also something that he's using tariffs to protect us from having to give this
00:07:34.300 technology to China by using leverage over NVIDIA.
00:07:37.720 So these are potentially arguments that should win with national security.
00:07:43.960 I believe that he has appointed three members of the Supreme Court.
00:07:48.700 And I believe that the Supreme Court does.
00:07:51.280 What is the number of the Supreme Court that is Republican?
00:07:55.180 We're 6-3 right now.
00:07:56.360 6-3, yes.
00:07:57.720 And Gorsha's Comey and Comey Barrett.
00:08:00.980 And then he also always can rely on Clarence.
00:08:06.080 So, yeah, it's 6-3 right now.
00:08:08.340 So I think there's a reasonable chance that this is upheld, that the tariffs are – it
00:08:12.160 would be awful to think about if we had to unwind them.
00:08:14.440 And then how much egg do we have on our face as a nation?
00:08:16.960 Yeah, and all of his leverage goes away, too.
00:08:18.660 I mean, there was a point – Rob, I sent you a chart.
00:08:21.820 There was a point in time where tariffs were 90 percent of the national revenue.
00:08:25.360 I love this chart here.
00:08:26.660 And, Pat, you made a great video that has, like, over a million views about how we could
00:08:31.560 replace the entire national income or the federal budget with a combination of tariffs
00:08:36.800 and claiming money that other countries owe us.
00:08:39.820 So, I mean, look at this.
00:08:40.580 Like, this shows everything with – look at what the big dips go down when we have wars.
00:08:44.920 You know, the first one, Civil War, then World War I, then World War II.
00:08:47.660 That's when percentage of tariffs as national revenue goes way down.
00:08:50.920 And today, like, since the 50s, it's went to, like, less than 1 percent.
00:08:55.200 But, you know, it could get up to a trillion dollars.
00:08:58.800 We're only at, like, 7 percent right now for an average of tariffs across the board.
00:09:02.420 So, like, with a combination of deals and rates, we get to a trillion dollars.
00:09:06.280 It's funny.
00:09:06.800 They're trying to take, like, a jab at this as if we're, like, not in a successful place
00:09:10.600 of $300 billion.
00:09:11.500 Like, you know, we send $300 billion to Ukraine.
00:09:13.700 So, it's a whole Ukraine payment.
00:09:15.500 But what would happen, think about it, if it is struck down, then the chart that you showed
00:09:19.580 with all that revenue, we'd have to give that back.
00:09:22.520 How do you even unwind that?
00:09:24.680 Well, couldn't the executive order that, saying it is a matter of national security
00:09:27.720 if they strike it down?
00:09:29.240 No, it's not a zero.
00:09:30.060 So, I'm saying, where does the money come from?
00:09:31.380 You'd have to issue treasuries. 0.91
00:09:32.920 Oh, for the tariff revenue.
00:09:34.320 Yes.
00:09:34.780 Right.
00:09:36.240 Yeah, yeah, yeah.
00:09:36.960 The money got spent.
00:09:38.180 Right.
00:09:39.060 No, I don't think they'll do that.
00:09:40.340 I don't think they would tie his hands behind his back like that.
00:09:43.920 Because that's what it would do.
00:09:44.720 Like, that's the leverage for everything.
00:09:45.940 It would be terrible.
00:09:46.600 You know what that's like?
00:09:47.520 That's like calling you and telling you, hey, we want you to be the CEO of Apple.
00:09:52.500 But you can't make any changes to the comp.
00:09:56.120 You can't make any changes to culture.
00:09:58.180 You can't make any changes to anything.
00:09:59.980 But we just want you to be a figurehead.
00:10:03.000 Can I do anything?
00:10:04.160 The board keeps shutting you down.
00:10:05.320 No, no, no, no.
00:10:08.240 Well, the stock, you know, shareholders voted me in.
00:10:12.120 But no, no, no.
00:10:14.240 Thank God it's 6-3 right now.
00:10:17.300 Because if it was the other way around, imagine you get to become president.
00:10:20.180 What we did learn during Biden's administration is that the single greatest thing that happened the last 60 years in politics is President Trump flipping three seats.
00:10:33.400 That's what we learned.
00:10:35.560 Look at that.
00:10:36.780 Look at Neil, Brett, and Amy.
00:10:38.640 All of them have what name next to it?
00:10:40.580 Trump, Trump, Trump.
00:10:43.120 17, 18, 20.
00:10:44.480 I don't think it's ever happened when you flip three seats.
00:10:46.500 In four years, too.
00:10:47.520 In four years.
00:10:48.200 And Obama flipped one in eight.
00:10:50.620 Yeah.
00:10:51.000 Think about that.
00:10:51.780 Rob, can you verify how many times Obama flipped?
00:10:54.100 I think Obama flipped two in eight, if I'm not mistaken.
00:10:56.480 One in first, one in second.
00:10:58.120 I don't know what the number was on one of them.
00:10:59.640 But I don't know what, it could be one in eight.
00:11:02.680 The single greatest thing happened, people don't realize if that number, those three don't flip, when Colorado decided to remove, it was two of them, right, Rob?
00:11:10.660 Yep.
00:11:10.980 Yeah.
00:11:11.280 When Colorado decided to remove President Trump on the ballot, if it was 6-3, even 5-4, this is a very different America we're living in today.
00:11:23.160 2026 is around the corner.
00:11:24.640 Craziness is going on.
00:11:25.700 For some of you guys that have big plans for 2026, I will remind you, whatever you do, do not go into 2026 without a business plan.
00:11:36.840 It'll be a big mistake you're making.
00:11:38.760 There are way too many moving parts.
00:11:40.700 You know, every year when we do the business planning workshop, I openly talk about what threats and events we're concerned about happen in the next year.
00:11:48.840 We openly share with you, here's what we're looking at, here's what we're seeing as possible enemy, and here's what we're seeing as an operator, the opportunities that exist for us.
00:11:57.740 And we openly share it with you.
00:11:59.580 We share with you how we're growing our YouTube channel and our media company, what our consulting firm is going.
00:12:04.720 We're sharing our strategies with you.
00:12:06.320 If you're somebody watching and saying, I'm sick and tired of playing small, I want to take my life and my business to the next level, the business planning workshop on December 12th is for you.
00:12:14.420 But number two, if you're somebody that's running a business and you are already a millionaire, we have a lot of people that watch this content, you're doing 10 million a year, 100 million a year, maybe you're doing a billionaire, you've got a couple thousand employees, but you've gotten to a point where you're bored and it's repetitive, and it's just kind of like you're doing the same thing over and over and over again.
00:12:31.580 This is a very, very good event to even wake you up as a leader of the company.
00:12:35.740 So quietly, you can kind of get on the business planning workshop.
00:12:38.620 It's not something that you have to be physically here from anywhere in the world.
00:12:41.840 So if you haven't yet registered yet, click on a link below, get registered, December 12th, let's spend an entire day together.
00:12:48.320 We go through a 200-page manual together, which everybody will get, or you can go to bpw.betdavidconsulting.com.
00:12:54.840 Again, bpw.betdavidconsulting.com.
00:12:58.700 Looking forward to seeing you guys there on December 12th.
00:13:01.420 If you enjoyed this video, you want to watch more videos like this, click here.
00:13:04.180 And if you want to watch the entire podcast, click here.
00:13:11.840 Thank you.