‘Rocket fuel for the economy’: Why Trump’s plan to raise tariffs and abolish income tax is brilliant



In Donald Trump’s bombshell interview on "The Joe Rogan Experience," the president-elect floated the idea of abolishing the income tax as well as raising tariffs.

While Glenn Beck has historically been against heavy tariffs, Trump may have won “The Glenn Beck Program” host over with his explanation.

“I’ve always been against tariffs; however, I might be wrong,” Glenn says. “Donald Trump is making a good case when he’s talking about getting rid of the income tax because tariffs will raise the prices of things, especially if he does it the way he’s talking about doing it.”

However, if Trump lowers the income tax simultaneously, the economy would boom.


“We could make up that deficit and become a very powerful nation again. Tell me I’m wrong,” Glenn challenges economic expert and Heritage Foundation visiting fellow Peter St Onge.

“That’s absolutely correct,” St Onge replies. “The vast majority of economists go after tariffs, they attack Trump over tariffs, and I think they are looking at the trees for the forest here.”

“If you replace a tariff, which is basically a sales tax, but it’s one that focuses on imported goods, if you replace that with either reducing or, in our dream scenario, abolishing the entire income tax, it is absolutely rocket fuel for the economy,” he explains, noting that Trump’s plan is reminiscent of the 1800s.

“That was before we had an income tax, was also before we had a Fed, and back then, the federal government had to live off tariffs,” St Onge says. “That was the greatest period not only of economic growth but of cultural achievement.”

“It was really the golden age of humanity, and the key there was that we did not have an income tax, we did not have a regulatory state, we did not have a Fed. So if Trump can take us back there, and all we have to do is like an 8% sales tax on Chinese stocks, that is the deal of the century,” he adds.

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Numbers don’t lie, but people do



The federal government will release a large amount of economic data this week, including “advance estimate[s] of Q3 GDP growth, non-farm payrolls, the unemployment rate, and JOLTS job openings,” plus “the ISM Manufacturing PMI, CB consumer confidence, the PCE inflation report, and personal spending and income figures,” as Trading Economics reports.

Much of this data will consist of estimates while the rest likely will be subject to the Biden administration’s economically negative revisions. Typically, positive economic numbers are released with fanfare and praise for Joe Biden and Kamala Harris only to be quietly revised downward into obviously bad news later.

The American people understand the reality of their own experiences.

By then, new numbers — also celebrated as evidence of Biden and Harris’ economic wisdom — shift attention from the disappointing revisions. These new figures are often presented as major improvements over the downwardly revised data, creating the impression of continuous economic growth. But comparing overly optimistic preliminary figures with grimly revised data skews the reality of the economy’s performance.

This game of three-card monte with economic data aims to deceive the public, and the legacy media is happy to play along. While some might plead ignorance, professional reporters and commentators have no excuse not to recognize the manipulation. Meanwhile, Americans face rising costs for groceries, clothing, gas, housing, utilities, and other essentials. Many also want to enjoy activities like dining out, going to the movies, attending concerts, and watching sports. For all of these, they now pay much higher prices than they did three years ago.

Joyful claims that inflation has slowed, while technically true over the past year, don't just lower prices to where they were before. Although many people have received pay raises, those raises are in devalued dollars and generally don’t cover the full impact of inflation since January 2021. Most pay increases fall short of keeping up with inflation both in nominal terms and after adjusting for purchasing power.

Income, sales, use, property, and various excise and service taxes all continue to rise as prices, incomes, and housing values increase in dollar terms, though not in real value. This makes Bidenflation an enormous, hidden tax increase at all levels of government, with prices largely holding at higher levels.

Meanwhile, the Biden-Harris administration’s massive government borrowing in 2021 and 2022, with Harris casting tie-breaking votes on major spending bills, along with the Republicans’ reluctance to push for cuts in 2023 and 2024 drove up inflation and prompted the Federal Reserve to slow the economy to curb dollar devaluation.

This economic tightening has hit most Americans hard as businesses turn to lower-wage immigrant labor, leading to net job losses for native-born American workers.

The dismal result of this miserable game of spend, tax, inflate, stealth-tax, kill jobs for native-born Americans, and repeat has been a decrease in wealth and real income for the great majority of Americans. “The bad news is that over the Biden presidency, earnings are still about 1.3% BELOW inflation,” Unleash Prosperityreports. “It provides further evidence that wage growth under Biden hasn’t kept up with inflation, resulting in a 1.3 percent loss in real earnings.”

The consumer price index has increased by 21% since January 2021.

This economic decline has unfolded even as government agencies have consistently claimed month after month that conditions are improving.

National elections will take place just days after the release of these fantastical figures, with voting already underway in most states. Politicians, reporters, analysts, and others in the media may either be misled by these numbers or pretend to believe them. But the American people understand the reality of their own experiences.

Warning: This financial law could destroy your investments



A law was introduced in the '90s that was sold as a way to shore up the financial system. Now, Glenn Beck warns, it could destroy your financial investments.

While the law claimed to help, in reality, it was a way to bail out big financial institutions by allowing them to use your investments as collateral in the event of a financial collapse.

States changed Article 8 of the Uniform Commercial Code, a state law passed in all 50 states. This change meant that investment intermediaries like Merrill Lynch or Fidelity hold your actual stock on behalf of you. The change means that you, the purchaser, don’t actually own your investments. The stock broker or the intermediary does.

Glenn says that it means, “hopefully, nothing.”

“However, if you believe the banking system is weak. If you believe that you could see a major shift with a catastrophic black swan, it could mean you lose everything,” he continues. “It takes the insane ‘you’ll own nothing’ promise to a whole new level.”

The change also allows for stock brokers and other intermediaries holding your investment to use them as collateral in their own financial agreements.

“The reason why this is so dangerous is if the intermediary goes bankrupt, the stock you think you own can be taken by another big financial institution who’s owed money by that bankrupt stock broker, and they’ll take your fund to cover it,” Glenn explains.

While the law could deliver a devastating blow to the average U.S. citizen, there are states fighting back.

“The first state is now fighting back on this, and it’s South Dakota,” Glenn says, but “more help is needed.”


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Ford plans to invest nearly $4 billion in the Midwest for next-generation vehicle manufacturing



Ford Motor Company will be investing $3.7 billion in the coming years as it commits to investing in its Midwestern manufacturing capabilities and prepares for the launch of the net-generation Ford Mustang and Ranger in North America.

Last Thursday the company announced the massive financial commitment along with pledging to generate 6,2000 new United Auto Worker (UAW) union jobs, Newsweek reported.

In addition to the massive jobs announcement, Ford revealed that its new line of electric vehicles will begin to be produced at its Ohio based facilities in the mid-2020s. Ford, the country’s largest employer of hourly autoworkers, also plans to expand its Ohio manufacturing site to accommodate these new developments.

The cost of the company’s Ohio expansion will be around $1.5 billion. Once expansion of the Ohio facility is complete, 1,800 UAW union jobs will be installed.

In addition, Ford is planning to spend $100 million in investments in Lima Engine and Sharonville Transmission plants which is estimated to create an additional 90 jobs.

The company also confirmed that the state of Michigan will continue to be the homebase for the Ford Mustang and Ranger as both models move into their next generation of production.

Ford’s Michigan assembly plant in the city of Wayne will continue to constructing the Ranger while the Mustang coupe will be manufactured at the company’s assembly plant in Flat Rock.

These Michigan based manufacturing hubs, in addition to Ford’s Route Electric Vehicle center in Dearborn, account for $2 billion of the company’s Midwest investment. These Michigan based initiatives are expected to create 3,200 jobs.

Ford is also expected to construct a new Ford Customer Service Division packaging facility in Monroe, Michigan that will cost $35 million and is expected to generate 600 UAW union jobs. This facility is expected to open in 2024.

In a press release, Michigan’s Democratic Governor Gretchen Whitmer said, “We are thrilled that Ford is advancing its long legacy in Michigan by investing $2 billion to create 3,200 good-paying UAW jobs.”

She continued, “I am proud that we came together to deliver economic development legislation that has helped us land huge projects creating thousands of jobs. With this announcement, Michigan has added nearly 25,000 auto jobs since I took office, and we continue to lead the future of mobility and electrification. Let's continue in this spirit of collaboration to keep growing our economy, creating jobs, and advancing the future of mobility and electrification.”