00:03:28.200or at least match the contribution of an employee.
00:03:31.520Likewise, we are seeing that more and more
00:03:34.280for Trump accounts, and that speeds it up
00:03:37.940because when you're talking about investing over time,
00:03:40.760the faster you invest and the more you invest early,
00:03:44.320the more it compounds and the bigger it gets.
00:03:47.320And so employer contributions are a huge accelerant.
00:03:50.740And then the second huge accelerant is charitable contributions, the ability to give directly into the Trump accounts of others.
00:03:57.720We're seeing both of them. And this roundtable was was multiple CEOs and business leaders discussing how they're doing exactly that.
00:04:05.560All right. I want to take a moment real quick and talk to you about something that's extremely important.
00:04:10.040Right now, somewhere in the world, there's a child waiting, not waiting for a birthday,
00:04:15.500not waiting for Christmas, but waiting for someone just like you to choose them.
00:04:21.080That's what Compassion International does every single day.
00:04:25.200They connect children living in poverty with someone who will know their name, who will
00:04:30.600pray for them, who will encourage them and help provide the food, the medical care, the
00:04:36.540education and the hope they need through a local church now this year compassion is expanding into
00:04:44.780four new countries malawi zambia cambodia and mirmar meaning thousands of children are being
00:04:52.860reached which is incredible for the very first time and i want you to join me for just 43 a month
00:05:00.500you can be the reason one child stops waiting sponsor a child today at compassion.com that's
00:05:09.580compassion.com i gotta tell you the the part of the trump accounts i think is also going to be
00:05:15.560the most successful aspect of it is you get to set up these accounts in your kid's name you get
00:05:20.840to be interactive it's not a piece of paper that comes in the mail with a quarterly statement or
00:05:24.800monthly statement your child can look at your phone and their account in real time and see
00:05:30.980what's happening and so now what's happening with my kids is they every day are wanting to know how
00:05:36.300much money they have I love this because now instead of them going and buying something the
00:05:40.860store the other day my seven-year-old George looked at me he's like dad I want to buy some
00:05:44.700more stock with my money I was like great how much money do you have he's like I got six dollars and
00:05:49.560$0.12. Now, I love that because he got $6. I don't know what he got it from. It was like $6.12. I'm
00:05:57.200like, buddy, I love this. Yes, we'll invest it for you this week. And there's a little bit of
00:06:01.540excitement and also competition. Like, what are you in? I'm in Ford. I'm in SpaceX. I'm in this.
00:06:07.100They love the ownership. And that's how you create a lifetime investment idea. And it's also teaching
00:06:13.900the value of a dollar. Hey, you can take a dollar now. It can be something else later. But if your
00:06:18.560kids get involved that means the parents get more involved which means you think about saving for
00:06:23.100your kids more that is the best part is i think technology with this it is watching a kid's eyes
00:06:28.980light up when they see an account with their name and their ownership it is is a total game changer
00:06:35.220i say it with excitement because i'm witnessing it firsthand but this is why people need to sign
00:06:40.040up for this if they haven't already look roughly half of americans don't own a single stock or a
00:06:45.860single bond. And I talked about creating a whole new generation of capitalists. This is designed
00:06:50.780so that kids see that and they see compound growth. They see that they have an investment,
00:06:55.620but then it grows and it grows upon itself and it grows upon itself. And one of the things that was
00:07:00.260really important designing the app is designing it so it doesn't just show the total amount you
00:07:05.700have in the S&P 500, but there are 500 stocks broken down in the S&P 500. So you can see
00:07:11.360how much how much you own of Apple, how much you own of General Motors, how much you own of Exxon
00:07:17.660Mobil, how much you own of McDonald's. And that investment makes it personal. You've got skin in
00:07:25.080the game. And that was something I pressed the Trump administration really vigorously on. They
00:07:30.060actually had a guy named Joe Jebbiaz, who's a buddy of mine. He's actually a Texan. He's from
00:07:34.840Austin. He is one of the founders of Airbnb. So he's been very, very successful in business. But
00:07:40.400Airbnb knows how to design an app that that is consumer friendly.
00:07:45.840And one of the things that was really important is that when kids log on to these accounts, they see all the individual stock holdings that they have.
00:07:54.720And they are right now. We also had at this roundtable.
00:07:59.340So we had Michael Dell. We had Brad Gerstner, who is the CEO of Altimeter Capital.
00:08:05.300And he's the one who came up with the idea for the Trump accounts. He's become a very close friend.
00:08:09.080And he and I have worked hand in hand the last two years to get this passed with Michael Dell, who Dell is is contributing and matching to the Dell, to the Trump accounts of their kids.
00:08:19.340And Michael and Susan are personally giving six and a quarter billion dollars.
00:08:23.780We had the CEOs of Bank of New York and Robinhood.
00:08:28.100And they're the two companies that are implementing this.
00:08:32.840So one of the things the CEO, Vlad Tenev, who's the CEO of Robin Hood, showed us is the new developments they're putting on for philanthropy.
00:08:40.300Look, most of us are not Michael Dell.
00:08:43.060We can't give six and a quarter billion dollars, but this is available for philanthropy if you want to give $100, if you want to give $500 or $1,000 or whatever you can give.
00:08:54.220And one of the fun things is for Trump accounts, it also doesn't have to be massive accounts.
00:09:00.160I mean, think about your kids' birthday parties, Ben, where you have Aunt Susie, who otherwise would have gotten your kids an ugly sweater, who instead can give your kids $100 into the Trump account or $50 into the Trump account.
00:09:16.220And that over time. Think about a bar mitzvah. Think about an eighth grade graduation or 12th grade graduation where you tell people, hey, here's the link to give to the Trump accounts.
00:09:26.320And you end up with with investments where the kids see. And by the way, just just like you described with your boys, the kids see as a practical matter.
00:09:35.460I have 20 bucks. I can go buy a pepperoni pizza and eat it and have nothing. Yep. Or I can invest
00:09:42.74020 bucks and see it grow and learning about the power of investing. That's going to be one of the
00:09:49.180most long lasting aspects of this. It's changed dynamics. Dinner the other night, it was really
00:09:53.900fun to watch my 10-year-old and his cousin, who's also 10, talk to my son's uncle. And they're like,
00:11:21.220in a real company and then they understand
00:11:23.380they start asking questions and that's
00:11:25.660how you change an entire generation. Well, and on the employer side, so we had Robert Isom,
00:11:30.780the CEO of American Airlines there, and American Airlines announced that they're going to match
00:11:34.840the contributions to Trump accounts for all their employees. And they have employees all
00:11:39.080over the country. They have 40,000 employees just in the state of Texas. And you look at
00:11:43.420those employees for those kids, I think this is going to become a ubiquitous employee benefit,
00:11:50.600Just like 401k accounts are now. And to give you a sense, why do I say the Trump accounts are the most consequential element of the working families tax cut?
00:12:00.380You know, in 1974 is when Congress passed Section 401k of ERISA.
00:12:06.300And I don't think anyone in Congress had any idea how fundamentally they were changing how Americans save for retirement.
00:12:13.620Today, Ben, there's more than $12 trillion invested in 401k accounts.
00:12:17.860It's a massive amount of cash. Trump accounts are 401ks for kids.
00:12:22.020They're going to be we're going to have trillions of dollars invested in Trump accounts and the employer contributions.
00:12:29.760Dell is doing it. American is doing it. Lots and lots of companies are doing so.
00:12:34.840But but then the second piece of it and I'm urging, you know, Cory Booker.
00:12:39.000This is also there's now bipartisan support for this.
00:12:41.420Cory Booker is a liberal Democrat from New Jersey. He and I together co-authored a letter
00:12:46.900to the CEO of every one of the Fortune 1000 companies, urging every one of them to contribute
00:12:51.900to the Trump accounts of the kids of their employees, to match, to help grow, because that
00:12:56.940accelerates the growth massively. But the second piece, the philanthropic piece. So Michael and
00:13:03.480Susan Dell's gift, what they're giving is $250 to every child under age 10 who lives in a zip code
00:13:11.580where the median income is $150,000 or less. And I wrote the statutes so you could adjust those
00:13:18.460dials and you can target your gifts. Brad Gerster, whose idea this was, Brad is giving money to every
00:13:25.520kid in the state of Indiana, which is where he's from, where he grew up, under the age of five,
00:13:30.540again, who lives in zip codes where the median income is $150,000 or less. Now, let me tell you
00:13:36.780another really cool element of the Trump accounts, which is at my urging, and I had to work very hard
00:13:43.580to get the Treasury Department to do this, Treasury has issued guidance that not only can you
00:13:50.600contribute money to the Trump accounts, and it's a charitable contribution, it's tax deductible.
00:13:55.300So not only can you can you contribute money to Trump accounts of kids, you can also contribute individual shares of stock.
00:14:04.040So one of the which is a game changer, it's a game changer.
00:14:08.540One of the people at the roundtable was Gwen Shotwell.
00:14:10.820Now, Gwen is the president and chief operating officer of SpaceX.
00:14:15.380And obviously, SpaceX just had a massive IPO.
00:14:19.520Yep. And Gwen made an enormous amount of money.1.00
00:14:22.760and after that she announced that she was giving two million shares of spacex that's incredible
00:14:31.980to trump accounts and and in part because michael dell did kids under 10 she decided to give it to
00:14:36.880kids between the ages of 10 and 18 and and so two million kids are going to get a single share of
00:14:43.520spacex in their account and and that means they're now invested and they can see as spacex grows and
00:14:51.220succeeds and does better they're looking at that going wow that and by the way her gift was what
00:14:56.560was worth over over 300 million dollars so i mean it's you want to talk about real money
00:15:02.560300 million dollars giving away to two kids and i will tell you i'm in conversations with multiple
00:15:10.980founders and ceos who started incredibly successful companies and i'm going to tell you in the coming
00:15:16.980year, we are going to see literally billions of dollars, I believe, of shares of companies,
00:15:23.560big AI companies, big tech companies, given directly to kids. And that's a powerful thing.
00:15:29.900Here, I want you to listen to David Sachs. So David Sachs is an incredibly successful
00:15:33.880tech investor. He's the chairman of the president's committee on science and technology. So he's the
00:15:39.800AI czar and the crypto czar for President Trump. And David is a longtime friend of mine. He was at
00:15:46.000the roundtable with us. Listen to what David had to say about the Trump accounts.
00:15:50.140Thanks to Trump accounts, the next generation of Americans is going to have direct ownership
00:15:54.720in these AI companies. They're going to be participating as owners in the AI revolution.
00:16:01.220And I think Gwen Shotwell's gift, I think, is exactly the right template for this, where
00:16:06.620you've got two million kids who are now going to own a share of SpaceX AI, and they're going
00:16:10.780tracking that and now they have a vested interest in the success of ai and i hope that all the other
00:16:17.040ai companies will follow suit and make by the way i couldn't agree with him more he hopes they follow
00:16:23.280suit that suit that's the reason why you guys wrote it this way yep it also makes it easy if
00:16:27.720you talk to people that want to give money away their biggest concern is they're going to give a
00:16:32.220bunch of money away and then they're going to have this big thing that happens and then it doesn't
00:16:36.160really get implemented this is such a great way to encourage responsible giving because it's going
00:16:42.360to have an impact for these kids for a very long time and the future growth it's not going to be
00:16:47.300you know shelled out a bunch of bureaucrats and non-profits start getting their friends involved
00:16:51.740and we see things like that that happen this is a direct way to say i'm going to impact a child
00:16:57.160and it's something that's going to grow and help them as they get older if you if you're someone
00:17:02.500that's worked hard your whole life and you built something incredible like SpaceX, to see that
00:17:07.580continue to grow long after you're gone, that's a legacy. That's legacy building. That gets, I think,
00:17:13.320CEOs excited as well. Yeah. And there are several aspects of this. One, you know, one of the reasons
00:17:19.920Michael and Susan Dell got so excited. So Michael chairs the CEO council of Invest America that has
00:17:25.280been supporting the Trump accounts and has been a coalition behind it. And Michael and Susan are
00:17:30.520worth somewhere between $100 and $200 billion, depending on where the market is at any given
00:17:34.440day. But it's a massive amount of money. He's one of the 10 wealthiest people on planet Earth.
00:17:38.640And they both are quite responsible about their philanthropy. They intend to give away
00:17:43.920a huge portion of the wealth they've accumulated. And the problem is it's such a large amount of
00:17:50.940money that it's hard to give away. I mean, there are very few charities that can take a billion
00:17:56.780dollars like it's so much money that it crushes a charity if you give them that much money
00:18:00.700and and so they're trying to think very responsibly how do you give money away so it has a maximum
00:18:05.940impact and it can be used productively and i'll tell you what is so potent about the trump accounts
00:18:11.400it is infinitely scalable you can literally give there's no sum of money someone has that is too
00:18:17.900much to be able to give to trump accounts it has zero friction and zero transaction costs so if
00:18:23.840you give $100, $100 goes to the count, not $99, not $95, every penny of it. There's no
00:18:30.120administration. There's no overhead. There's no guy getting rich. So you're putting every bit of
00:18:36.000leverage to impact and in the impact of a child becoming an investor starting to accumulate
00:18:41.840that will grow and compound over time. And so let's take the six and a quarter billion dollars
00:18:53.540Now, that's a ton of money, but you know what?
00:18:55.500If Michael and Susan decided—I don't know if they're going to, but they could decide—
00:18:59.140suppose they decided they wanted to 10x that.
00:19:02.360Well, instead of giving $250, they could give $2,500.
00:19:06.980Instead of $6.25 billion, that would be $62 billion.
00:19:10.880And yet it would be—there are enough kids that it could absorb that.
00:19:16.220And by the way, look, if you have other people giving and suddenly that $2,500 becomes $5,000 or $10,000, the math becomes amazing if suddenly kids, and we're talking millions of kids, low-income kids, have, say, $10,000 invested in the market at a young age.
00:19:33.180the compounding we're talking about these kids being able to accumulate millions of dollars
00:19:38.980that totally changes not just their perspective but but their entire future because look kids of
00:19:48.900wealthy people they learn to invest they learn to save but but but kids of of parents who are not
00:19:55.320in the market often don't understand they don't understand compound growth they don't have they're
00:19:59.940not taught a culture of saving and investing, this is going to change their whole worldview.
00:20:04.720And look, you're seeing it with your boys firsthand.
00:21:42.160And also, if it's opt-in, you end up having a skew where wealthier kids, kids from families that are more financially sophisticated are more likely to opt-in.
00:21:50.740and low-income kids whose parents are not invested in the market themselves are less likely to opt
00:21:56.520in and the entire point of this program is to help the kid of the single mom waiting tables
00:22:01.780and and so the auto enroll is massively important but you know why it's even more important
00:22:07.080why is that because with the charitable gifts you've got to have the account open to be a vessel
00:22:13.860to put michael dell can't put his six and a quarter billion dollars in unless you have 25
00:22:19.440million accounts that are open that can take it. Gwen Shotwell's two million shares can't go to
00:22:23.920kids unless those accounts are open. So you need to have the auto enroll. That's going to happen.0.63
00:22:28.800I believe it. It's going to happen this year. I talked to the head of the IRS today who is
00:22:34.800working to implement it right now. That's a huge deal. And by the way, I want you to listen to
00:22:40.920Brad Gerstner, who's this very successful venture capitalist whose idea this was and who he and I
00:22:46.280have worked hand in hand in fact brad michael dell and i at the round table they referred to
00:22:51.100the three of us as the three amigos and we literally have been on the phone non-stop
00:22:55.560talking to the president regularly talking to scott besant the treasury secretary talking to
00:23:00.420the head of the irs to get this implemented and get get it right give a listen to brad gerstner
00:23:04.860at the round table we did this week legislation championed by this senator and let me tell you
00:23:09.960I stomped around Capitol Hill for years.
00:23:13.460Everybody loved the idea, but it's amazing in Washington.
00:23:18.020Everybody loves the idea, but nobody can find their pen to actually begin drafting a piece of legislation.
00:23:24.100It takes an entrepreneurial warrior like this senator who says, I'm going to make this happen.
00:23:32.140And then Michael Dell, who, you know, through our partnership from day one, did the work, did the study, said this is if we could make this happen, it would change the country.
00:23:43.120And together, talking with the president, getting the president's entrepreneurial leadership.
00:23:48.100And, you know, when we saw President Trump, it would have been very easy for him to say, great idea.
00:27:16.320And it's what became the Trump accounts.
00:27:19.300And I said, wow, I'd be really interested in that.
00:27:21.800That sounds like the sort of policy I could get really excited about.
00:27:25.480And so Phil pulls out his cell phone and he puts together a text thread and he texts Brad and me and puts me on the thread and says, you two really need to talk.
00:27:34.460And the next week, Brad gets on a plane and flies to D.C. and sits down in my office and he just pitches the idea.
00:27:40.700He said, here's the idea, lays it out.
00:27:43.080And I listened to it and I said, this is fantastic.
00:28:09.380There's literally trillions of dollars that are not invested for our kids without that poker game.
00:28:14.320And and it is, I think, the legacy, the rewards from this for for our kids and their kids and their kids are just going to keep reverberating for a long time to come.
00:28:27.060Yeah, I'll say it again. Sign your kids up for this. Don't wait.
00:28:31.080There's money out there. It's free money. It is there for you right now.
00:28:35.280Get your Trump accounts open and do it with your kids. It's really, really educational and really, really fun.
00:28:39.800the new red bull dragon berry and tropic berry energizers now at mcdonald's made with freeze
00:28:47.320dried fruit and an electric burst of flavor the all-new red bull energizers now at mcdonald's
00:28:55.080this product may not be right for you high in caffeine details at mcdonald's.ca and
00:28:58.480participating canadian restaurants excluding quebec why should you listen to armstrong and
00:29:02.800getty on demand we're not boring a lot of news is boring and tedious and depressing and makes you
00:29:08.000angry you don't want to live your life like that but you do want to be informed can you be informed
00:29:13.840without being all of those other things we think so jack armstrong and joe getty the armstrong and
00:29:19.340getty show we try to bring you the truth and help you figure out this crazy modern world if you
00:29:24.120shoot at us and we deflect it it doesn't really count and that just doesn't make any sense you
00:29:29.380gotta make a rule don't shoot at the united states or if you prefer iran blah blah blah
00:30:54.080He's trying to pretend that he's somehow middle of the road.
00:30:57.160This is a guy who says God is non-binary. This is a guy who says there are six genders, whatever the hell those six are.
00:31:04.960But this week, there's a video that was unearthed where a few years back, James Tallarico was on a Zoom call with a bunch of Sierra Club activists.
00:31:15.300I want you to listen to what Tallarico said. This is in his own words, him speaking to radical left wing activists just a few years ago in 2020.
00:31:23.640The multifaceted threat of a climate crisis, an economic crisis, and a social justice crisis,
00:31:32.840I think that kind of New Deal effort would be the only approach to start to address all three in a thoughtful and meaningful way.
00:31:43.860The second question, communities of color receive the most harm from the impacts of climate change
00:31:49.980and yet received the least government support to deal with it.
00:31:54.520Tell us about one of the committees you are on or hope to be on
00:31:58.640and the most important actions that committee could take to fight for climate justice
00:32:03.680and mitigate the impacts of climate change for all Texans.
00:32:07.740Yeah, and I'm so thankful that you asked this question
00:32:11.080and also thankful that young activists have really drawn the link between climate change
00:32:16.520and white supremacy and capitalism in our country.
00:32:19.320And I think only in the ways that all three of those oppressive systems work together, are we going to be able to begin the process of dismantling them?
00:32:27.820Dismantling that word. If you didn't hear it, he just talked about dismantling what makes this country this country.
00:32:34.300Well, what he specifically said is he said, capitalism, climate change and white supremacy are all linked together. They are all three systems of oppression. And he wants to dismantle all three.
00:32:50.840Now, again, you mentioned he'd be a great Senate candidate in California. Sadly, that that is probably the case. But he ain't a great candidate in Texas because there are very few Texans who want to dismantle capitalism. That's in his own words. That's not me speaking for him. That's what he's saying he wants to do.
00:33:08.840And by the way, in that same conversation, he said the oil and gas industry is going to go away.
00:33:17.180And he says that Texas's leadership of the oil and gas industry, he said, is like, quote, being a leader in cassette tapes in the 1980s.
00:33:30.960So he wants oil and gas to go away, which would destroy millions of jobs in the state of Texas.0.59
00:33:37.040And by the way, would massively benefit communist China. And Tallarico has also voted to allow communist China to buy hundreds of thousands of acres of Texas land, including land next to military bases in Texas.
00:33:51.480so he wants to end oil and gas in texas and dismantle capitalism well listen comrade tallarico
00:34:01.040i get in in the woke circles you run in where when you say uh god is non-binary people clap
00:34:09.200and go oh yes oh yes so nice remember tallarico is the also the guy who who declared his campaign
00:34:15.400was going to be vegan because meat is destroying the world. This is a woke radical, and the media
00:34:23.660is deeply invested in making sure you don't know that. So this portion of the podcast, look, I'm
00:34:30.300going to ask everyone, share this podcast, but especially the video. Watch Tallarico in his
00:34:35.740own words, and he thinks he's just talking to left-wing radicals. So on the campaign trail
00:34:41.880today, he's not admitting he wants to dismantle capitalism. That's just what he tells the radicals,
00:34:47.740the DSA nuts who elected Mondami, who are supporting El Saeed. That is James Tallarico's
00:34:53.540base. And it's why he's going to lose this Senate race in Texas, because we don't want a nutcase
00:34:59.220who wants to dismantle capitalism. We want capitalism to grow. We want free enterprise.
00:35:04.200And we want every American to be an investor invested in capitalism, invested in the future
00:35:08.960of our country. Amen. Don't forget to share
00:35:11.000the podcast. We do it Monday, Wednesday, Friday
00:35:12.860and the Senate and I will see you back here on