You ever seen those videos of somebody running a long-distance race and most
people finished tired but ever seen those videos of people that are so
exhausted they they basically just you can see they're just about to pass out
from heat exhaustion and they're staggering they're not even
limping they're just staggering to get over the line and and everybody wants to
rush out there and help them but they know that if they do they'll disqualify
this poor guy and and just with his eyes rolling back in his head he manages to
stagger across this finish line and then collapse into the ground heaving breath?
You wonder if the guy's gonna survive. wWell we passed a tax bill and
that's exactly what it looked like it felt like. Hi everybody I'm Bill Whittle here
with Steve green and Scott Ott and this is your tax bill edition of the end of
2017 brought to you by the paying members at
BillWhittle.com bless their little hearts and those members will have some
more money to pay for other people to become members and you who may not be
paying will soon have the money to be able to pay for your own billwhittle.com
membership because tax cuts are coming your way for most of the American people.
Now, needless to say, the Left is very upset about this. Nancy Pelosi said it's
the worst thing to happen thing was Pelosi said is the worst thing to happen
since the Fugitive Slave bill and it is and other progressives have said that
it's the end of the American Republic that they're that they're basically
stealing America's future and we are but we're not stealing America's future and
it's not the worst thing to happen to America since the Fugitive Slave Law.
It's the worst thing to happen to Democrats since the Fugitive Slave Law
and it's also the worst thing to happen to Democrats as far as looting the
Treasury goes because if people start seeing more pay in their paychecks
they're gonna start thinking differently about all this. Steve let's start with
you. I have thought now for many years that things like Oh a triple the prices
of your health care and that would get people off of liberalism and and will do
all these other things independency and so on and so on and so on. In other words,
I thought that the stick of reality being administered to the rump of the
American people enthusiastically and over a long period of time would be
enough to change their mind about voting for these policies but it didn't and now
I'm big well if data got us got us this president got us a different kind of a
new start but my question for you is Steve, how do you think that the carrots
going to work? How do you think people are gonna feel for instance in 2017
you know the stock markets up 35% were it above 3% GDP jobs
unemployment's down to 4%. If Obama accomplished all of these in eight years
he would have been praised to the heaven, so what do you think about the idea that
a tax cut means an even more expanding economy, more jobs, better pay, how does
that feel to you in terms of the politics of the to the reelection
rather the midterm election campaign in 2018? It feels like winning. Obamacare is
still around well sort of but I'll get to that a minute. Obamacare is still
around because the press kept spreading these scare stories of 13 million people
they're going to lose their insurance if the evils Republicans take away their
Obamacare and that got enough wavering Republicans to go because you know
that's what they do and President Trump who I've admired in a lot of ways and
in this last year actually kind of sabotage the effort to repeal Obamacare
and I was I was that was my major disappointment in 2017. However there's
a huge difference there's a huge difference between being told that your
family is gonna save twenty five hundred dollars a year on insurance and then
find out that your premiums are doubling every year and fine and then being told
that the Republicans are gonna hike everybody's taxes and finding there's
more money in your paycheck every two weeks. That's a huge huge difference. In
one case the Democrat media complex lied to people about what Obamacare would do
to them or do for them however you want to phrase that. Now they're finding out
that or they will find out over the next few months that they've been lied to
again. They'll be lied to again about the effects of this tax bill. People are
gonna have more money and their paychecks and I think they're gonna love
this and the President Trump is a damn good salesman and I I think he's going
to capitalize this in ways that the GOP especially the GOP Senate failed to
during the during the the convoluted tiring double marathon way that this
bill became became law, so the difference is it's
be crystal clear and the advantage we have going into 2018 and I I've been
working under the assumption that the Republicans are gonna lose the house
in this next year. I I hope they don't but that's just been legislate like
there's no tomorrow because there might not be you know get it done. Yeah so I've
been working under that assumption I excuse me I wish they had been working
under that assumptions last year maybe they will in 2018 with this big win
to their bill but it we don't have to pull senators over the line to repeal
something. They've already done it. Now we get to feel the effects of it over this
next year and I think it's gonna feel pretty damn good. I think so too.
Scott I'd like to talk about the salesmanship aspect of this because as
always we're flying into a media headwind which gets more fierce every
day although more spears less effective. You hear things as we said that you know
this is a tax cut for the rich. I saw a breakdown that said that people in the
poorest bracket will only get a ten dollar tax cut while the richest people
might see 69 thousand dollars in tax breaks and I thought well if you're
paying you know four hundred dollars a year in income tax if any at all you're
gonna see less than if you're paying millions of dollars and so on so there's
this whole thing yeah but there was something there's one little thing about
this tax bill and how it was sold and and how it got through that had a very
Donald Trump feel to it in terms of his like it's almost like a personal touch
and that was when a number of large companies, I'm pretty sure GE was among
them and Boeing and so on, that they announced that because of the tax cut
all of their hundred thousand employees are going to get $1,000 bonus. Now that
sounded like Donald Trump to me because that was a tangible immediate pre
February pre May here it comes. We got the tax cuts, says Boeing, therefore
every one of the hundred thousand people and other companies as well big
companies, we are going to give them $1,000 bonus. Now it's my personal
feeling that the CEOs of these companies did not volunteer this. It's my kind of
feeling I don't know but it's my kind of feeling that Donald Trump basically made
some calls and said listen, if you gave every single person, you got 100
thousand people right, and you and we give them all $1,000 bonus that's that's
what ten million dollars? I'm gonna have to re-edit this. Did
you see these slack bovine like faces on Stephen Green and Scott Ott when you asked?
Just embarrassing it's so embarrassing. I can't believe I'm having to do this.
I'm more ashamed of this than I am of having voted for Walter Mondale. You've
got a hundred thousand employees times one thousand dollars equals one hundred
million dollars. That's a lot of money.
A thousand times a thousand is a million. One hundred thousand dollars. One hundred
million dollars. Okay so basically picking up where we left off before this
whole thing went off the rails because we can't do some decimal math
live. Here's I think what basically Donald Trump said. He said listen what
would it cost to give everybody in your company a thousand dollar bonus and
Boeing said why it cost us a hundred million dollars? Okay how much
money do you think you're gonna save if we get this tax bill through? Well we'll
save a lot more than that over seven eight years a lot more than that. Trump
said okay I'll get you the tax bill but you have to give us this in order to
show the American People that it's worth it.
Why thank you Scott. Well I think there may be something to that although I
can't testify. I mean there there are a couple things that come to mind here.
Number one is as a person who lives with most of the rest of the middle class in
this country I'm hearing all this talk now from the left saying but all a
thousand dollars isn't much. You know I remember when I was
in office if you if you tried to cut a nickel from the county budget then it
was going to be a disaster and then in the next breath they turn around and
they say well it's hardly anything so why bother cutting a nickel you know and
you'd be like okay. Well see on the left they they view reductions in
taxes and reductions in government spending as as expenses like those are
when government cuts taxes and cut spending somehow that's a negative for
you my friend and so you know I forget the phrase they use it is so Orwellian
that I can't even. Pay for tax cuts yeah you got to pay for tax got it done and
it's it's like that but it may not even be that phrase but it's that that guy
idea it's not just that you have to pay for tax cuts it's like whether the
government cuts spending or cuts taxes both of those is a negative for you.
Number two. A thousand dollars is not a thousand dollars. So let's say I get a
thousand dollars more. You know what a thousand dollars does for me? A thousand
dollars let's say I put that in my mutual fund okay. You know what a
thousand dollars does in a mutual fund of the stock market that's going up at
the rate that this stock market is doing? A thousand dollars is a lot more than a
thousand dollars there. Or let's say I take that money instead or maybe I do a
little bit of each but let's say I take that money and pay down credit cards. You
know what a thousand dollars does and paying down a credit card balance where
you're getting an extra fifty or eighty dollars a month on your credit
card build for interest alone or whatever? Great point. Or let's say I pay
down my mortgage a little bit early you know what an extra thousand dollar
payment does to your mortgage you're reducing by vast periods of time in the
long run if you got a 30-year or 20-year mortgage. So the the the time value of
money is not taken into account by these lunkheads who say a thousand
dollars doesn't mean much and then Bill you at a you know I think wisely pointed
out when they say well 80% of the benefit of the tax cuts is going to go
to the super wealthy well the super wealthy pay eighty percent of the taxes
so it's like. And its not just that. They've got they've got how can you expect a
person who who has a twenty thousand dollar a year income to get a $69,000
a tax break? Bill let me explain Democrat math to you. It's let's just go
back and explain to you percentages which you know we couldn't do
multiplication earlier but we know enough.
A lot of it being on TV because otherwise I could use my fingers and
toes. That's right you could do remember chisanbop? You could do it right on
the desktop with your fingers. So anyway that's that's I think that we don't even
see things the same way the left talks about it you know. Read the New York
Times listen to NPR for a day and you will discover that a tax cut is a
terrible thing and reductions in government spending are devastating. The
Democrats don't talk about it they don't say these things because they believe
them. They say these things because they want to keep the money for themselves to
spend it to buy more votes. That's not what they tell themselves. That's a true
true that's true but all of the liberal mouthpieces that we hear in society both
politicians and people in pop culture fabulously rich and for them it's true
not only is not only as a thousand dollars nothing but any kind of any kind
of boost to their income is essentially superfluous for most of these you know
opinion makers so these people these artists and musicians have 25 luxury
cars you know with... they're half a million dollars each. What the hell is a
$6,000 tax refund or tax break for them? Nothing they of course they have
nothing but contempt for it but for those of us out here in the real world
and those of us trying to run little businesses it's a significant enormous
deal and this is why I think that this thing was so important and why I think
that idea of Trump basically if it was Trump and I it's just got to be.
Announce to your employees that they are all going to get $1,000 bonus. Boom!
And Bill I was just gonna say on the messaging end of
this that's not enough though I mean I think that was smart and I've seen those
stories rolling out one after another but we've got to do we've got to learn
from the left and how you do the messaging. It's one thing to say GE or
some big company has given a thousand dollar bonus. Now we need to start
telling the stories of individual human beings couples you know and every single
one of them should be a person of color you know this should be like a all the
time yes accounts. Every day the White House should reveal another video
interviewing for you know two and a half minutes somebody and saying what's a go
to college yeah because they yeah that's right
exactly right that's exactly right that's a great great point. So look I've
maintained for a long time that payroll withholdings is the end of the
Republic because and I mean this sincerely because the federal government
is so powerful because it's got so much money and the reason it has so much
money is because your taxes never the money that the federal government takes
in taxes never touch your fingers. They never go into your bank account. You may
have a $600 a week salary but you get a four hundred and thirty dollar a week
paycheck and you always have. You don't miss the missing money because you never
touch it. If you had to write a check as business owners do four times a year for
five figures of tens of thousands of dollars in my case in taxes, if you had
to part with the money once it was in your bank account, there'd be riots in
this country, so for the first time in my memory anyway for quite a long time
we're gonna see the miracle of payroll withholding work against the Democrats.
People are gonna go and pick up their regular paychecks yeah and for the first
time in memory there's going to be more money there than there was before
so now we'll see whether the carrot has more of effect than the stick and as I
think of this for the first time ever just on the spot our entire society is
based on the carrot and failure societies like socialism is based on the
stick so who knows maybe a little extra cash in people's pockets will be enough
to break them out of this idea that somehow we're beholden to give other
people all of the product of the sweat of our brows and and and be fortunate to
keep a few shreds for ourselves. Maybe we'll get over that idea. So you you want
Donald Trump's carrot top or Nancy Pelosi's riding crop, you got a choice. I
am NOT gonna sleep for days. What has been seen
cannot be unseen.
I need some eye bleach. Oh! Sorry. We deeply apologize for this ladies and
gentlemen and we'll see if we can't get some kind of warning label on the
beginning of the show and to predict the more sensitive members of our audience.
I'm Bill Whittle here for Steve Green to Scott Ott. That's your Right Angle.
We'll see you next week.
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