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    Oct. 17, 2024

    MM#361--Taxes Have Consequences, pt 2 & 10 Reasons why Trumps Economy beats Harris Economy

    FAN MAIL--We would love YOUR feedback--Send us a Text Message

    Explore the transformative power of tax policy and its undeniable impact on economic growth. Many politicians, past and present, have misguidedly underestimated this crucial aspect of governance. As we reflect on historical examples, the successes of JFK and Reagan highlight how lower tax rates can indeed fuel economic expansion. Dive into the complexities of the Laffer Curve and discover why tax cuts are more than just policy— they’re a pathway to prosperity. For those eager to learn more, we recommend diving into the insightful works of Larry Kudlow and Art Laffer.

    Our book of the day is from the authors, Art Laffer and Stephen Moore, in "The Trump Economic Miracle."   They were economic advisors to Donald Trump and we can learn about Trump’s knack for making people feel valued and his ambition to emulate Reagan's economic success.

    Key Points from the Episode:

    • Through a critical lens, we analyze how Trump's economic policies compare to Biden's, particularly in areas like real take-home pay and inflation. 
    • With the election on the horizon, we explore why Trump's economic message resonates with a broad spectrum of voters, while Bidenomics faces increasing skepticism.
    • In a deep dive into energy policies and business climates, we compare the economic landscapes under both administrations. From the controversy of the Keystone XL pipeline cancellation to the pressures faced by small businesses, we weigh the impacts of Biden’s climate-centric agenda against Trump's deregulation efforts. We wrap up with a hopeful outlook, emphasizing the potential for economic recovery through strategic tax cuts and regulation reductions.
    • We also talk about the role of tax policy in fueling economic growth, guided by Art Laffer's insights in  "Taxes Have Consequences." 
    • Then we highlight 10 reasons by Trumps economic policies will outperform, out stimulate and outgrow Biden-Harris economic proposals plus we give two bonus reasons to further entrench how much better Trump's economic plan is above Harris's plan.  

    Join us in championing policies that prioritize financial prosperity for American families.

    Other resources:

    Lower Taxes, Higher Revenues (the Laffer Curve) by Prager University



    Want to leave a review? Click here, and if we earned a five-star review from you **high five and knuckle bumps**, we appreciate it greatly, thank you so much!

    Because we care what you think about what we think and our website, please email David@teammojoacademy.com

    Chapters

    00:07 - The Power of Tax Policy

    13:56 - Trump's Economic Comparisons With Biden

    27:18 - Comparing Trump's and Biden's Economic Policies

    33:48 - Biden's Economic Policies vs. Trump's

    46:40 - Economic Prosperity Through Tax Cuts

    Transcript
    WEBVTT

    00:00:07.612 --> 00:00:20.807
    Welcome to the Theory to Action podcast, where we examine the timeless treasures of wisdom from the great books in less time, to help you take action immediately and ultimately to create and lead a flourishing life.

    00:00:20.807 --> 00:00:24.850
    Now here's your host, david Kaiser.

    00:00:26.000 --> 00:00:53.933
    Hello, I am David and welcome back to another Mojo Minute and we're going to piggyback on our last Mojo Minute called Taxes have Consequences, because that episode was just a general overview of how the last decade of our economy went from Obama to Trump and now under Biden, and how, over the weekend, barack Obama never had a good economy.

    00:00:53.933 --> 00:01:03.930
    He's just out there spewing lie after lie and his economy was absolutely anemic.

    00:01:03.930 --> 00:01:05.772
    It was absolutely just pitiful.

    00:01:05.772 --> 00:01:09.808
    So for him to say it was otherwise is, like I said, just a blatant lie.

    00:01:09.808 --> 00:01:33.347
    He wasn't even close to having a good economy and for most of the reasons is because, frankly, democrats, almost all Democrats and, frankly, most Republicans have no understanding, zero understanding of how to grow the US economy and for sure they don't understand tax policy.

    00:01:33.347 --> 00:01:43.811
    And yes, that goes for you, bush 43, down there in Texas painting your cute little paintings, not saying a word while the country is hemorrhaging under this current president.

    00:01:43.811 --> 00:01:53.311
    And for Mitt Romney, our nominee in 2012, no idea, despite making a lot of money in business, has no idea how the economy works.

    00:01:53.311 --> 00:02:04.632
    And for Mike Pence, you had no idea, besides being our vice president for four years, no idea how the economy actually grew.

    00:02:04.632 --> 00:02:16.954
    Our vice president for four years, no idea how the economy actually grew, and over half of the US Senate and over three quarters of the GOP in the US House none of these people have a command of how to grow the economy.

    00:02:16.954 --> 00:02:18.175
    And how can I say that?

    00:02:18.175 --> 00:02:42.348
    Because, after watching politics for the last 35 years, I think it's only common sense to look back in history and ask several but very simple questions when did the economy, the US economy, grow really fast and what policies did we have in place to make it grow fast?

    00:02:42.348 --> 00:03:08.924
    If these brilliant men and women would just do that, instead of conducting all of these mental gymnastics of this, that this policy, that policy, this credit on this particular part of the economy, that credit on this, let's do all these mental gymnastics to try and create a tax policy that is overwhelmingly complicated, they would understand.

    00:03:08.924 --> 00:03:17.346
    It's quite simply what drives economic growth in this country is the number one reason is tax policy.

    00:03:17.346 --> 00:03:19.510
    It's 50% of the equation.

    00:03:19.510 --> 00:03:21.274
    And how do we know that?

    00:03:21.274 --> 00:03:22.264
    Because we have the data.

    00:03:22.264 --> 00:03:25.439
    We talked about it in our last episode.

    00:03:25.680 --> 00:03:31.885
    If you want to do your own research, I can heartily recommend many books to you on this topic, but just start with these three.

    00:03:31.885 --> 00:03:34.989
    Start with JFK and the Reagan Revolution.

    00:03:34.989 --> 00:03:41.473
    This will take you back to JFK, who asked the same very same questions.

    00:03:41.473 --> 00:03:50.373
    Very same questions when did the economy grow really fast and what policies did we have in place to make it grow fast?

    00:03:50.373 --> 00:03:57.663
    And yet he was asking these same questions back in the 1960s.

    00:03:57.663 --> 00:03:58.145
    Because why?

    00:03:58.145 --> 00:03:59.586
    Why was JFK asking them?

    00:03:59.586 --> 00:04:10.300
    Because he was taking over for a Republican president, dwight D Eisenhower, who didn't know how to grow the economy.

    00:04:10.300 --> 00:04:18.375
    But JFK answered those questions and executed a wonderful series of tax cuts that spurred the economy into the late 1960s, despite him being assassinated.

    00:04:18.375 --> 00:04:29.696
    And it wasn't until another GOP president, richard Nixon, who certainly didn't know anything of what in the Sam hell he was doing with the economy or, frankly, for any policy.

    00:04:29.696 --> 00:04:36.692
    I mean, we got price controls, we got just crazy regulations across everything.

    00:04:36.692 --> 00:04:43.612
    He, along with LBJ, just brutally slowed and stopped our economy in the late 60s and early 70s.

    00:04:43.612 --> 00:04:47.750
    I mean it was like putting a governor on a race car.

    00:04:47.750 --> 00:04:52.350
    So both of those presidents were absolutely horrible for the economy.

    00:04:52.350 --> 00:04:59.649
    So this first book you can do your own research is JFK and the Reagan Revolution, written by the esteemed economic mind of Larry Kudlow.

    00:04:59.649 --> 00:05:09.910
    The second book I'm going to recommend to you is the one we covered in our last podcast Taxes have Consequences by Art Laffer.

    00:05:09.910 --> 00:05:18.992
    Let's grab real quick the main conclusion and thesis of that frankly superb book.

    00:05:18.992 --> 00:05:20.274
    Go on to the book.

    00:05:23.062 --> 00:05:30.747
    In our examination of the income tax history of the United States, we have reached several overarching conclusions.

    00:05:30.747 --> 00:05:36.021
    They each fit within the meaning of our title Taxes have Consequences.

    00:05:36.021 --> 00:05:48.923
    Keynesian, monetarist and progressive leftist economies have glided over the clear impacts that tax rates have on every segment of the economy.

    00:05:48.923 --> 00:06:05.752
    We find that the evidence indicates in case after case, over the last century and more, that higher tax rates at a federal and state level, including property and corporate income taxes and tariffs, harm the economy.

    00:06:05.752 --> 00:06:11.391
    The example of the Great Depression itself is one of the clearest illustrations of this very point.

    00:06:11.391 --> 00:06:23.365
    We find that the evidence indicates again, in case after case, that lower tax rates have resulted in economic growth, employment and a broadening of opportunity.

    00:06:23.365 --> 00:06:30.375
    And we find that stimulus spending in no way enhances the standard of living.

    00:06:30.375 --> 00:06:33.910
    History shows that the Laffer curve works.

    00:06:33.910 --> 00:06:53.574
    The standard of living, or the optimal tax rate, is closer to sub 20% than up near 70%, and government needs to seriously second guess itself when it begins to find tax rate increase arguments convincing.

    00:06:53.574 --> 00:06:58.732
    Amen, bang the gavel.

    00:06:58.732 --> 00:07:00.220
    The case is closed.

    00:07:00.740 --> 00:07:24.216
    This book is an incredible 100-year examination of tax policy, which, again, is the largest part of our economic equation for any country, not just ours and it's written by Art Laffer, the creator of the Incredible Laffer Curve you just heard about and one of the trope of guys who helped convince Ronald Reagan to look strongly at supply-side economics.

    00:07:24.216 --> 00:07:26.021
    Who helped convince Ronald Reagan to look strongly at supply-side economics.

    00:07:26.021 --> 00:07:34.172
    And, as an aside, there's a great Prager University five-minute video that was done on the Laffer Curve and I just discovered it.

    00:07:34.172 --> 00:07:37.115
    Just found it last night, so I'm going to put that in the show notes.

    00:07:37.115 --> 00:07:40.882
    It was created all the way back in 2014.

    00:07:40.882 --> 00:07:51.473
    Just does a great job in five minutes of explaining the Laffer Curve and why it works and why so many people just completely turn the other way because they're economic illiterates.

    00:07:51.473 --> 00:08:02.259
    But Laffer, jack Kemp, robert Bartley those guys were all part of a quartet of people to advise Reagan strongly on the policies coming out of the 1970s.

    00:08:02.839 --> 00:08:05.382
    And we know what happened on the policies coming out of the 1970s.

    00:08:05.382 --> 00:08:11.209
    And we know what happened Once Reagan passed his supply side tax cuts in 1982, that economy roared back to life.

    00:08:11.209 --> 00:08:15.413
    I mean, it was like a phoenix rising from the ashes.

    00:08:15.413 --> 00:08:23.908
    That economy jumped big time Four, five, 8% growth year over year for the rest of the decade.

    00:08:23.908 --> 00:08:30.954
    And it only took Bush 41, who could be a knucklehead on some things not to continue those economic policies.

    00:08:30.954 --> 00:08:34.323
    That was essentially handed to him on a silver platter.

    00:08:34.323 --> 00:08:37.250
    He had all the personnel to put them in place.

    00:08:37.250 --> 00:08:38.880
    He fired most of those people.

    00:08:38.880 --> 00:08:41.086
    He wanted his own people and what did they do?

    00:08:41.086 --> 00:08:41.969
    They screwed it all up.

    00:08:41.969 --> 00:08:49.068
    All he had to do was just continue those economic policies and he most certainly would have won his second term.

    00:08:49.068 --> 00:09:09.320
    In fact, if most presidents could steer the economy with above roughly about a 2.7, 2.8% growth rate, the American people are going to reward you with a second term because income is growing, they're feeling good, they have money in their pocket.

    00:09:09.860 --> 00:09:15.072
    The cultural issues don't determine most US presidencies.

    00:09:15.072 --> 00:09:20.966
    Over 50% is economic and we saw that with Bill Clinton.

    00:09:20.966 --> 00:09:28.025
    The guy was facing all kind of headwinds in his second term, going for a second term in 1996.

    00:09:28.025 --> 00:09:34.990
    And the smartest thing he could do was to keep the economy going well and he did just that.

    00:09:34.990 --> 00:09:39.864
    He worked with a GOP Congress that came in 1994 under Gingrich.

    00:09:39.864 --> 00:09:49.288
    They took on welfare reform both of them, so they both could have talking points in their reelection and we saw that from our past episode.

    00:09:49.288 --> 00:09:56.173
    Regulation reforms affect 25% of the economy equation and spending affects the other 25%.

    00:09:56.173 --> 00:10:06.115
    So even though Clinton didn't do a tax cut per se, he affected over 50% of the tax or the economic equation.

    00:10:06.115 --> 00:10:16.375
    Tax policy equates for 50% and 25% for regulation on the other side and another 25% on spending.

    00:10:16.375 --> 00:10:26.009
    So Clinton was smart to work with the GOP Congress to essentially get the economy humming again with those other two pillars and not on the tax side.

    00:10:27.600 --> 00:10:31.831
    And what happens when the economy sputters in 1995 and early 96?

    00:10:31.831 --> 00:10:38.232
    , like I said, clinton gets welfare reform done and signed and the economy comes back to life.

    00:10:38.232 --> 00:10:47.523
    Frankly, just smart politics by that guy who had some smart people around him and said you got to keep the economy going no matter what's happening on the cultural side.

    00:10:47.523 --> 00:11:18.143
    So we have two books so far JFK and the Reagan Revolution and Taxes have Consequences which is essentially a 100-year romp through all of our tax history and it will pull the coverage back on why the economy is largely driven by Washington DC's mistakes and failures and sometimes how they get it right when they get government out of the way and allow the free market to explode.

    00:11:18.143 --> 00:11:27.693
    As such, they did in the 1920s, the 1980s and then for two years under Trump 17, 18, and 19.

    00:11:27.693 --> 00:11:33.083
    Roughly the end of 17, mostly 18 and 19.

    00:11:33.083 --> 00:11:36.890
    And why does that all work?

    00:11:36.890 --> 00:11:49.852
    Because the American people want to create, they want to innovate, they want to grow the economy it's the greatest economy ever in the history of the world to incur the greatest prosperity in the history the world's ever seen.

    00:11:51.500 --> 00:12:03.792
    So let me share with you why, even though I don't like Trump, I'm voting early for Trump, and if you're my friend, most likely you've heard all these reasons on why I don't like Trump.

    00:12:03.792 --> 00:12:05.230
    I don't need to rehash those.

    00:12:05.230 --> 00:12:11.136
    There are many, but there are two major, major reasons why I'm voting for him this time.

    00:12:11.136 --> 00:12:15.134
    And, in case you didn't know, I didn't vote for him in 2016.

    00:12:15.134 --> 00:12:21.908
    So, unlike many GOP voters who just went along to go along, I did not vote for him in 16.

    00:12:21.908 --> 00:12:31.812
    But I did vote for him in 2020, despite him not firing Anthony Fauci, which he should have done, and he should have been listening to Scott Atlas.

    00:12:31.812 --> 00:12:38.552
    But I am voting for Donald J Trump early this time, and let me share a story on why.

    00:12:39.225 --> 00:12:44.317
    Let's go to our book of the day and the scene is in early, I'm sorry.

    00:12:44.317 --> 00:13:07.298
    The scene is in late 2023 at Trump's Bedminster Golf Course in New Jersey, and there's two guys in the waiting room to see Trump Stephen Moore, well-known supply-sider, and Art Laffer, one of, again, reagan's economic aides and part of that Vaughn a Dream team of economic talent.

    00:13:07.298 --> 00:13:08.360
    Let's go to the book.

    00:13:08.360 --> 00:13:14.114
    So now we fast forward to the current campaign.

    00:13:14.114 --> 00:13:21.378
    When we met with Trump at his office in Bedminster, new Jersey, it was like we were starting right where we left off.

    00:13:21.378 --> 00:13:30.692
    They had met with as an aside, they had met with Trump back in 2015, when he was kicking off his 2016 campaign.

    00:13:30.692 --> 00:13:31.955
    Back to the book.

    00:13:31.955 --> 00:13:46.750
    We sat in the waiting room outside his office, overlooking the swimming pool in the first hole of the golf course and, in short, while Trump himself comes bounding out of his office with an enthusiastic smile.

    00:13:46.750 --> 00:13:56.428
    Usually, in this situation, an aide would usher visitors like us into the room to see the president, but it was quite flattering that he would come out and get us as an aside.

    00:13:56.528 --> 00:14:03.615
    One thing we have learned about Trump is that he has this special talent of making everyone he meets feel special and important.

    00:14:03.615 --> 00:14:16.681
    We've seen this firsthand so many times, whether it is a senator, a governor, a foreign dignitary, a cabinet secretary, a member of his country club, or even the waitress or a chauffeur or the grandmother at a Trump rally.

    00:14:16.681 --> 00:14:20.732
    He displays no arrogance in his personal relationships.

    00:14:20.732 --> 00:14:27.533
    He tries to learn something new from everyone he comes across and nearly everyone is beaming.

    00:14:27.533 --> 00:14:42.178
    After a meeting with Donald J Trump and here's our nugget of wisdom On this occasion Trump told us that he had asked us to come because he wanted, in effect, to put the band back together.

    00:14:44.525 --> 00:14:45.851
    Let's fast forward here.

    00:14:45.851 --> 00:14:55.038
    Just like eight years ago, we said we are in, and we are Art Laffer and Stephen Moore.

    00:14:55.038 --> 00:14:58.192
    Then Trump added make sure Larry's in too.

    00:14:58.192 --> 00:14:59.556
    That's Larry Kudlow.

    00:14:59.556 --> 00:15:01.275
    There's no doubt about that.

    00:15:01.275 --> 00:15:03.270
    Going back to the book, there's no doubt about that.

    00:15:03.270 --> 00:15:07.687
    Kudlow and Trump have a unique bond of trust and mutual admiration.

    00:15:07.687 --> 00:15:12.037
    So we signed on to be his economic advisors, his senior economic advisors.

    00:15:12.037 --> 00:15:19.166
    For the record, neither of us have ever been paid by Trump of the campaign in any of his three presidential runs.

    00:15:19.166 --> 00:15:21.695
    We have always served as volunteer consultants.

    00:15:22.826 --> 00:15:36.591
    One priority, we told the president, is that, early on in the discussion, what was needed to sharply compare and contrast the Trump and Biden presidencies on the economy See chapter two of this book for the full comparison.

    00:15:36.591 --> 00:15:42.936
    Trump has always had a fascination with Ronald Reagan, probably the most popular president in the past half century.

    00:15:42.936 --> 00:15:50.379
    He always peppers Laffer with question after question of the Gipper, as if to ask what would Reagan do?

    00:15:50.379 --> 00:15:59.495
    I put three stars out to the left because that tells me Trump is on the right track.

    00:15:59.495 --> 00:16:02.279
    Back to the book.

    00:16:02.345 --> 00:16:11.118
    We told Trump that the similarities between this election and that of the 80 election, when Reagan ran against the incumbent President, jimmy Carter, are very similar.

    00:16:11.118 --> 00:16:19.274
    Then as now, inflation was raging, america's foreign policy was a mess, illegal immigration was out of control and middle class incomes were falling.

    00:16:19.274 --> 00:16:25.217
    Gas prices were surging and it seemed to Americans that the economy and the country were headed off a cliff.

    00:16:25.217 --> 00:16:33.789
    We recited to Trump what Reagan had asked 100 million Americans watching the famous debate against Jimmy Carter in 1980.

    00:16:33.789 --> 00:16:36.274
    Are you better off than you were four years ago?

    00:16:36.274 --> 00:16:39.427
    Then as now, the answer is no.

    00:16:40.668 --> 00:16:49.120
    To buttress this point, we had come to the meeting armed with a chart book that we had put together with the help of our friend and Trump confidant, lee Rizzuto.

    00:16:49.120 --> 00:16:55.504
    The chart book compared Trump and Biden on 30 different metrics on the economy.

    00:16:55.504 --> 00:17:02.506
    We walked him through the flip chart through the flip chart.

    00:17:02.506 --> 00:17:06.997
    On virtually every one of these kitchen table metrics and measurements of middle-class well-being, trump far outperformed Biden.

    00:17:06.997 --> 00:17:25.539
    This included everything from take-home pay to inflation, to gas prices, to mortgage interest rates, to 401k returns, to minority poverty rates, to grocery bills, to credit card debts, to domestic energy production, to stock market performance after adjusting for inflation, and on and on.

    00:17:26.305 --> 00:17:34.259
    This sharp book has gone viral and has become a hallmark of the economic case for Trump, in 30 pictures and graphs.

    00:17:34.259 --> 00:17:42.759
    So that again is an excerpt from the Trump Economic Miracle written by Art Laffer and Stephen Moore.

    00:17:42.759 --> 00:17:48.096
    Very short book, some 160 pages roughly.

    00:17:48.096 --> 00:18:03.625
    And again, this meeting took place before the campaign began and here we are some three weeks away from Election Day and Trump's economic message is coming through day.

    00:18:03.625 --> 00:18:11.441
    And Trump's economic message is coming through, in fact, breaking through to voters of all types African-Americans, hispanics, low-income voters, high-income voters.

    00:18:11.441 --> 00:18:14.028
    This economic message is coming through.

    00:18:14.028 --> 00:18:22.516
    And in fact, let's move to chapter two of this book, because they outlined 21 distinct reasons why Trump beats Biden on the economy.

    00:18:22.516 --> 00:18:26.833
    21 of them, holy smokes, and I'm just going to go through half of them.

    00:18:26.833 --> 00:18:28.376
    So let's just go through half.

    00:18:28.376 --> 00:18:33.915
    I'm going to pick out the best 10, I think, and we'll talk about them.

    00:18:34.537 --> 00:18:47.461
    Going back to the book, this chapter documents how Trumponomics has outperformed Bidenomics on nearly every single economic financial metric of side-by-side performance.

    00:18:47.461 --> 00:18:49.810
    The data is compelling.

    00:18:49.810 --> 00:18:59.634
    But there's another telling indicator Neither Joe Biden nor Kamala Harris, nor any other Democrat running for office is still using the term Bidenomics.

    00:18:59.634 --> 00:19:00.836
    Why is that?

    00:19:00.836 --> 00:19:16.255
    Because most Americans associate Bidenomics with failure, with higher prices for nearly everything, economic stress, a lower standard of living and a stack as high as the Washington Monument of Biden's unpaid bills.

    00:19:16.255 --> 00:19:30.471
    So let's start with the statistic that is most problematic for all of us and most especially for Biden and Harris Number one real take-home pay.

    00:19:30.832 --> 00:19:33.597
    Up under Trump and down under Biden.

    00:19:33.597 --> 00:19:39.037
    Throughout most of Biden's presidency, inflation has outpaced wages and salaries for most families.

    00:19:39.037 --> 00:19:42.487
    So how can the White House claim that worker pay is rising?

    00:19:42.487 --> 00:19:47.380
    Well, the Biden PR flacks are playing a numbers deception.

    00:19:47.380 --> 00:19:55.298
    The White House is touting the rise of nominal hourly earnings, ie wages, before inflation, since Biden took office.

    00:19:55.298 --> 00:20:10.766
    That part of the story is true, but just as ins, but just as in the 1970s with double digit inflation, nominal wages rose but families got financially crushed because prices were rising so much faster.

    00:20:10.766 --> 00:20:14.451
    Today prices have risen even faster.

    00:20:14.451 --> 00:20:17.634
    So those high incomes buy less.

    00:20:17.634 --> 00:20:26.749
    Average weekly earnings, after inflation, are down 4% under Biden, while they were up 10% under Trump.

    00:20:26.749 --> 00:20:34.667
    The average American worker in America is $2,100 poorer than Biden when he came into office.

    00:20:34.667 --> 00:20:46.838
    This is an affordability crisis that is crushing families financially and, as the saying goes, this is game set and match for the Trump economy over the Biden-Harris economy.

    00:20:51.230 --> 00:20:54.759
    Number two median family income much higher under Trump.

    00:20:54.759 --> 00:21:18.342
    Another way to measure how families are doing is calculated every year by the US Census Bureau, the gold standard of measuring how the economy is affecting the middle class Under Trump, even accounting for COVID let me repeat that, even accounting for COVID under Trump, the median family income rose by $5,800.

    00:21:18.342 --> 00:21:24.498
    That's the highest gain in real dollars than under any other president in history.

    00:21:24.498 --> 00:21:28.613
    Under Biden, the data fell that through.

    00:21:28.613 --> 00:21:36.017
    The data shows that through 2022, the most recent data available incomes fell by more than $2,000.

    00:21:36.017 --> 00:21:42.957
    This is an astonishing $8,000 per household difference in Trump's favor.

    00:21:42.957 --> 00:21:45.352
    Now there's a chart in the book.

    00:21:45.352 --> 00:21:47.713
    I'd urge you to get the book so you can see these charts.

    00:21:47.713 --> 00:22:11.375
    The chart also shows that Trump's lift in middle-income family earnings is higher than that of the other three most recent president the other three most presidents' records combined Bush, obama, trump and Biden Trump has the most highest earnings.

    00:22:13.767 --> 00:22:16.776
    Now the curse of Biden inflation is number three.

    00:22:16.776 --> 00:22:20.693
    Americans hate inflation.

    00:22:20.693 --> 00:22:28.473
    It's the main reason why Jimmy Carter lost in the landslide to Ronald Reagan in 1980, with Reagan winning 42 states.

    00:22:28.473 --> 00:22:37.570
    This does not bode well for Kamala Harris, since she's been the vice president, while the inflation rate has been getting higher than any time since Jimmy Carter was in office.

    00:22:37.570 --> 00:22:49.557
    While Trump was president, the inflation rate averaged just a bit over 2%, and the month he left office it had fallen to 1.5%, one of the lowest rates in 40 years.

    00:22:49.557 --> 00:22:56.538
    Biden has blatantly lied by saying that the inflation was 9% when he came into office.

    00:22:56.538 --> 00:23:06.185
    Not even close office, not even close.

    00:23:06.185 --> 00:23:08.571
    Biden pushed through a five trillion dollar tax and spend and borrow and print money economic program.

    00:23:08.571 --> 00:23:11.157
    Within 18 months, the inflation rate had zoomed all the way up to 9.1.

    00:23:11.157 --> 00:23:15.710
    How can you screw that economy up that quickly?

    00:23:15.710 --> 00:23:19.535
    Was he trying to ruin the uS economy?

    00:23:19.535 --> 00:23:20.455
    I would say yes.

    00:23:20.455 --> 00:23:23.339
    Was he trying to emulate Jimmy Carter?

    00:23:23.339 --> 00:23:24.260
    I would say yes.

    00:23:24.260 --> 00:23:44.779
    Mercifully, the inflation rate had started to recede since the end of 2022, but the latest Bureau of Labor Statistics numbers indicate we are still seeing inflation rates close to 3 to 4 percent, which is nearly double the Federal Reserve's target of 2%.

    00:23:44.779 --> 00:24:00.056
    Number four, the fourth reason why Trump's economy beats Biden's economy and, for that matter, kamala Harris's economy Necessities of life are far more expensive under Biden-Harris.

    00:24:04.144 --> 00:24:05.188
    Of life are far more expensive under Biden-Harris.

    00:24:05.188 --> 00:24:07.653
    Most people think the inflation they face is a lot higher than the official 20% rise in prices.

    00:24:07.653 --> 00:24:08.055
    They're right.

    00:24:08.055 --> 00:24:22.967
    That is because the things that Americans have to pay for every week groceries, gas, rent or mortgage insurance, tuition payments, health care and drug costs have risen faster than the overall rate of inflation, and drug costs have risen faster than the overall rate of inflation.

    00:24:22.967 --> 00:24:25.829
    Even affordable fast food is now expensive.

    00:24:25.829 --> 00:24:37.740
    The CEO of McDonald's acknowledged that the price for a Big Mac meal is now more than $10, and the average cost of the menu item is 40% higher than that before the pandemic.

    00:24:37.740 --> 00:24:44.750
    The memorable $1 meal deals at McDonald's are now just that they're a memory.

    00:24:44.750 --> 00:24:48.238
    Now McDonald's advertises a $5 meal menu.

    00:24:50.925 --> 00:25:02.538
    In fact, just as an aside, taking a little break from quoting from the book, I was in Pittsburgh two weekends ago and no, just last weekend, I'm sorry Just last weekend.

    00:25:02.538 --> 00:25:11.196
    My vaunted Pittsburgh Steelers lost an elastic and play to the Dallas Cowboys on Sunday night football.

    00:25:11.196 --> 00:25:14.109
    So it was heartbreaking, it was soul crushing.

    00:25:14.109 --> 00:25:31.799
    But I got a quarter pounder with cheese value meal because I was not eating healthy and that quarter pounder with G's value meal was $4 difference from what I buy it at in Columbus Ohio.

    00:25:31.799 --> 00:25:37.765
    Granted Columbus Ohio different cost of living versus Western PA just south of Pittsburgh.

    00:25:37.765 --> 00:25:53.815
    But $4 difference is dramatic, speaks, anecdotally, just speaks to the amount of inflation that is happening across the country and how people are getting hammered by Biden's inflation.

    00:25:53.815 --> 00:26:01.778
    And all that money, all that money that was spent with the so-called Inflation Reduction Act none of that we have seen.

    00:26:01.778 --> 00:26:05.807
    Nothing has gotten better Infrastructure not better.

    00:26:05.807 --> 00:26:16.419
    All the money they spent upwards of $5 trillion in that first year right after Biden took office.

    00:26:16.419 --> 00:26:19.182
    All of that has just gone away.

    00:26:19.182 --> 00:26:26.878
    So our bang for our buck on that money because inflation has been dramatically reduced.

    00:26:26.878 --> 00:26:28.952
    If not, we are so underwater.

    00:26:28.952 --> 00:26:32.914
    So that's just an aside that I wanted to share with you.

    00:26:33.325 --> 00:26:43.059
    Let's go back to the book for more reasons why Trump's economy beats Biden, and especially Kamala Harris's economy, overwhelmingly.

    00:26:43.059 --> 00:26:53.509
    Our fifth reason why the Trump economy beats the Biden-Harris economy gas prices surged under Biden.

    00:26:53.509 --> 00:27:04.193
    Trump came in office promising a drill, baby drill strategy For the first time in more than 50 years, the US was producing more oil and gas than it was consuming.

    00:27:04.193 --> 00:27:09.580
    Prices fell and America became a oil and gas exporter.

    00:27:09.580 --> 00:27:17.848
    Trump struck a symbolic blow as well by withdrawing the US from the anti-American Paris Climate Treaty.

    00:27:18.630 --> 00:27:23.685
    Biden came into office declaring war on American energy, and he's winning.

    00:27:23.685 --> 00:27:28.308
    He promised to kill off the American oil, gas and coal industry.

    00:27:28.308 --> 00:27:39.337
    His first act in office was to kill the vital Keystone XL pipeline so that American oil and gas could be transported to American communities.

    00:27:39.337 --> 00:27:44.636
    This was the same president who said we needed to spend $100 trillion on infrastructure.

    00:27:44.636 --> 00:27:46.147
    That's what I was referencing.

    00:27:46.147 --> 00:27:50.798
    The gas price was $2.50 a gallon when Trump left office.

    00:27:50.798 --> 00:27:54.115
    Now in most markets it's $3.50 to $4.

    00:27:54.115 --> 00:27:57.634
    And California gas has been above $5 a gallon the whole time.

    00:27:57.634 --> 00:28:06.232
    Overall, energy prices rose 40% in the first 40 months of the Biden presidency.

    00:28:06.232 --> 00:28:10.518
    Just hemorrhaging on gas prices.

    00:28:10.518 --> 00:28:12.819
    We start drilling for oil and gas.

    00:28:12.819 --> 00:28:14.241
    Sorry, this is an aside.

    00:28:14.241 --> 00:28:17.628
    We start drilling for oil and gas.

    00:28:17.628 --> 00:28:20.375
    We start producing our own oil and gas again.

    00:28:20.375 --> 00:28:29.868
    That price is going to come dramatically down and that's going to help out the whole economy come dramatically down and that's going to help out the whole economy.

    00:28:29.868 --> 00:28:36.748
    Prices will start to drop, because the amount of gas to deliver those products all over the country is going to drop and prices will drop after that.

    00:28:38.892 --> 00:28:46.712
    Our sixth reason why the Trump economy beats the Biden-Harris economy national debt is headed towards $50 trillion.

    00:28:46.712 --> 00:28:51.431
    The national debt has risen rapidly under Republicans and Democrats.

    00:28:51.431 --> 00:28:56.188
    We hold both parties responsible for the sea of red ink in Washington.

    00:28:56.188 --> 00:29:05.974
    Trump was a big borrower, but no president perhaps ever has been as financially reckless as Joe Biden.

    00:29:05.974 --> 00:29:10.604
    Listen to this.

    00:29:10.604 --> 00:29:17.653
    The government debt burden now stands at $34 trillion and is roughly up $6 trillion already since Biden came into office.

    00:29:17.653 --> 00:29:26.029
    This is roughly more money, adjusted for inflation, than we borrowed to fight and win World War II.

    00:29:27.652 --> 00:29:52.667
    If we take out the two COVID years of 2020 and 2021, when federal spending skyrocketed due to the catastrophe of shutting down businesses and schools, the average deficit was $750 billion a year under under Trump and 1.5 trillion under Biden.

    00:29:52.667 --> 00:29:58.755
    Now there's no crisis or emergency under Biden, except for the crisis he created himself.

    00:29:58.755 --> 00:30:02.018
    So why are we borrowing such huge sums?

    00:30:02.018 --> 00:30:04.060
    Even though the COVID crisis ended three years ago?

    00:30:04.060 --> 00:30:14.287
    That debt burden is expected to rise to $50 trillion in 10 years, even though the White House and Congress are pretending that they've cut the debt.

    00:30:14.287 --> 00:30:20.358
    Over just the last 12 months, federal borrowing has exceeded $2 trillion.

    00:30:20.358 --> 00:30:26.597
    That is not progress, even if Kamala admits that if she's elected.

    00:30:26.597 --> 00:30:35.740
    Not progress, even if Kamala admits that if she's elected, she's going to borrow somewhere close to $2 trillion a year for the next decade, consistent with the Biden baseline.

    00:30:35.740 --> 00:30:37.945
    That's unbelievably scary.

    00:30:37.945 --> 00:30:44.719
    And she doesn't even pretend to have a plan to even get near a balanced budget.

    00:30:44.719 --> 00:30:48.193
    To even get near a balanced budget.

    00:30:48.253 --> 00:30:50.219
    Seventh reason Trump's tax.

    00:30:50.219 --> 00:30:57.712
    Trump's economy beats the Harris economy, the Biden-Harris economy.

    00:30:57.712 --> 00:31:01.098
    Trump cut taxes and Biden and Kamala want to raise them.

    00:31:01.098 --> 00:31:12.720
    This is the most important part, because we just talked about how taxes are 50% of the tax equation, the economic equation on how to grow economy.

    00:31:12.720 --> 00:31:15.171
    Go back to the book.

    00:31:15.171 --> 00:31:33.117
    As we pointed out, the Trump tax cuts were one of the crown jewels of his agenda, from large corporations to small startup firms on Main Street, usa to spur economic activity and more jobs here at home for American workers.

    00:31:33.117 --> 00:31:41.195
    It's no accident that the unemployment rate fell so low that there was a shortage of workers in the wake of those tax cuts.

    00:31:41.195 --> 00:31:44.905
    Biden has promised to raise tax rates as an aside.

    00:31:44.905 --> 00:31:46.229
    Kamala Harris has promised to raise tax rates as an aside.

    00:31:46.229 --> 00:31:56.435
    Kamala Harris has promised to raise tax rates and not extend the Trump tax cuts that are due to expire in 2026.

    00:31:56.435 --> 00:31:59.472
    So it'd be a double taxation.

    00:31:59.472 --> 00:32:10.640
    Back to the book, biden's corporate tax plan would raise taxes higher than virtually any other country and far above the rate in China, russia and Europe.

    00:32:10.640 --> 00:32:13.433
    Kamala Harris has signed on to that same tax plan.

    00:32:13.433 --> 00:32:18.757
    The average family saved $2,000 a year on their taxes under the Trump tax plan.

    00:32:18.757 --> 00:32:27.138
    Those savings are going to go away if Biden-Harris keeps their promise to cancel the entire tax Trump tax plan.

    00:32:29.786 --> 00:32:39.117
    The eighth reason for Trump's economy over the Biden Harris economy the crushing financial burden of regulations.

    00:32:39.117 --> 00:32:45.136
    In 2016, while running for president, trump famously promised that he would repeal two regulations for every new regulation enacted.

    00:32:45.136 --> 00:32:49.450
    President Trump famously promised that he would repeal two regulations for every new regulation enacted.

    00:32:49.450 --> 00:32:57.608
    He ended up killing more than four regulations of economic significance for every new regulation enacted.

    00:32:57.608 --> 00:33:00.114
    This goes unreported, by the way.

    00:33:00.114 --> 00:33:03.067
    Not a lot of people cover this, especially the mainstream media.

    00:33:03.067 --> 00:33:08.519
    Next is the burden of Biden-Harris' regulations.

    00:33:08.519 --> 00:33:13.911
    Under this administration, the modus operandi seems to be if it moves, regulate it.

    00:33:13.911 --> 00:33:24.636
    Economist Casey Mulligan has found that Trump's deregulation initiatives save the average family $45,000 on a lifetime basis.

    00:33:24.636 --> 00:33:30.417
    Biden's regulatory spree has cost the average American $10,000.

    00:33:30.417 --> 00:33:36.458
    This is the hidden tax of the federal regulatory octopus.

    00:33:36.458 --> 00:33:47.741
    Moving to our ninth reason why the Trump tax or the Trump economic plan is far better than the Biden-Harris plan.

    00:33:48.803 --> 00:33:53.531
    Us oil production surged under Trump and it lags under Biden.

    00:33:53.531 --> 00:33:57.118
    Under Trump, america was energy independent.

    00:33:57.118 --> 00:34:06.328
    Under Biden's war on American energy and his climate change obsession, the price of oil has surged from $50 a barrel to roughly $80 a barrel.

    00:34:06.328 --> 00:34:11.934
    Adjusting for this higher price, the US has fallen well below the Trump baseline.

    00:34:11.934 --> 00:34:17.960
    We're losing about 3 million barrels a day, or almost 250 million a day in output.

    00:34:17.960 --> 00:34:41.976
    Ironically, the Biden administration wants to bring antitrust action against big oil executives for conspiring with OPEC to reduce supply and keep gas prices at the pump high.

    00:34:41.976 --> 00:34:47.385
    But there is no one on the planet who has conspired to reduce oil or gas output more brazenly than Biden himself.

    00:34:47.385 --> 00:34:52.875
    If restricting oil and gas supply is a crime, maybe he had better put himself and Kamala behind bars.

    00:34:52.875 --> 00:34:59.074
    This is from a man who, from the moment he came into office, declared he would bankrupt the oil and gas industry.

    00:34:59.074 --> 00:35:12.032
    The Biden administration has enacted some 200 actions to limit oil and gas production here at home as part of his climate change agenda and the quote great transition to zero fossil fuel production.

    00:35:12.032 --> 00:35:20.054
    Remember, one of Biden's first actions as president was to kill the Keystone XL oil pipeline.

    00:35:20.996 --> 00:35:50.789
    A report from Unleash Prosperity that's a group funded, or that's a group promoted and founded by Stephen Moore, one of the authors of this book A report from Unleash Prosperity finds that although oil production has risen the last two years to about 13 million barrels daily, could be, and should be, producing between 2 to 3 million more barrels per day.

    00:35:50.789 --> 00:36:02.699
    If we had simply stuck with Trump's pro-oil and gas strategy, the energy experts had predicted that we would be at least at 16 million barrels of domestic production per day.

    00:36:02.699 --> 00:36:11.572
    That Biden war on American oil and gas has cost American motorists and overall the American economy dearly.

    00:36:11.572 --> 00:36:22.079
    Over the past three and a half years, our domestic production would have been 2.5 billion barrels higher if Biden had simply left the industry alone.

    00:36:22.079 --> 00:36:24.974
    That's what so many people don't understand.

    00:36:24.974 --> 00:36:30.570
    If he would have just left the industry alone, he could have had energy prices down.

    00:36:30.570 --> 00:36:39.538
    But he's on this green, radical green energy diatribe that he's killing the oil and gas industry.

    00:36:41.686 --> 00:36:53.221
    Now going back to the book, what's doubly maddening is that Biden has played into the hands of the Iranians, the Russians and the Saudis, as if he were intentionally conspiring to make them money.

    00:36:53.221 --> 00:37:00.697
    Foreign dictators are enriched when we restrict our domestic supply because this raises the world price.

    00:37:00.697 --> 00:37:15.177
    By undermining shale activity in the United States, we hand OPEC more monopoly pricing power Because we're no longer able to quickly respond to their production cuts with our own production increases.

    00:37:15.177 --> 00:37:18.974
    Trump, by contrast, had brought OPEC to its knees.

    00:37:18.974 --> 00:37:26.077
    Kamala opposes drilling as well, and she clearly has the support of Putin and Iran.

    00:37:26.077 --> 00:37:33.307
    Well, and she clearly has the support of Putin and Iran.

    00:37:33.327 --> 00:37:56.530
    Our 10th reason why the Trump economy was much better than Biden-Harris Biden-Harris' war on small businesses America's $33 million, america's 33 million small businesses prospered under Trump, but since Biden has come into office, the NFIB Small Business Optimism Index that's the National Federation of Independent Businesses could hardly be more depressing.

    00:37:56.530 --> 00:37:58.335
    Check this out.

    00:37:58.335 --> 00:38:13.858
    It finds that men and women who run small businesses hire more than half of American workers, and in this index, they are in a more than half or in a somber mood.

    00:38:13.858 --> 00:38:21.579
    The survey finds that small business confidence reached its lowest point in 12 years in April of 2024.

    00:38:21.579 --> 00:38:31.592
    Amazingly, small company CEOs are more fearful of the future today than even during the COVID pandemic, when most businesses were shuttered.

    00:38:31.592 --> 00:38:36.989
    The index has fallen for most of the entire Biden presidency.

    00:38:37.050 --> 00:38:41.849
    The confidence numbers have gotten worse year over year under Biden as he's been in office.

    00:38:41.849 --> 00:38:43.311
    And here are the numbers.

    00:38:43.311 --> 00:38:47.077
    Notice that as soon as Trump was elected and here are the numbers.

    00:38:47.077 --> 00:38:49.938
    Notice that as soon as Trump was elected, the small business optimism index soared.

    00:38:49.938 --> 00:38:55.141
    And the minute Biden was elected, small businesses went into a four-year funk.

    00:38:55.141 --> 00:39:00.661
    This chart is absolutely staggering.

    00:39:01.161 --> 00:39:05.202
    Another reason why you should get this book Just real quick.

    00:39:05.202 --> 00:39:07.623
    Here's the confidence numbers for the past four years.

    00:39:07.623 --> 00:39:10.231
    I'll just read them out, because you can't see this chart.

    00:39:10.231 --> 00:39:18.409
    March 2020, small business optimum index was 102.

    00:39:18.409 --> 00:39:20.952
    That's under Trump.

    00:39:20.952 --> 00:39:24.916
    March of 2021, it drops to 98.2.

    00:39:24.916 --> 00:39:28.481
    March of 2022, drops to 93.2.

    00:39:28.481 --> 00:39:35.469
    March of 2023, three years in the Biden presidency 90.1.

    00:39:35.469 --> 00:39:50.713
    And just this past March, march of 2024, after three years of Biden just hammering our economy into the ground, it's at a meager 88.5.

    00:39:50.713 --> 00:39:55.213
    Just brutal.

    00:39:57.166 --> 00:40:05.340
    So we've covered 10 reasons why the Trump economy is going to beat the Harris Biden-Harris economy.

    00:40:05.340 --> 00:40:06.608
    Let's do one more.

    00:40:06.608 --> 00:40:07.974
    In fact, let's do two more.

    00:40:07.974 --> 00:40:19.135
    Two more bonuses for you Border insecurity, one of the bonus reasons why the Trump economy is going to beat the Biden-Harris economy.

    00:40:19.135 --> 00:40:23.710
    Immigration is a positive force for the American economy, but it has to go through legal channels.

    00:40:23.710 --> 00:40:28.807
    Trump ran for office promising to build the wall and stop illegal immigration.

    00:40:28.807 --> 00:40:38.273
    He succeeded in slowing the flow, but under Biden, illegal immigration has been some four times higher than under Trump.

    00:40:38.273 --> 00:40:41.666
    Worse, the person in charge of the border was Kamala Harris.

    00:40:41.666 --> 00:40:45.692
    She has presided over the greatest border disaster in American history.

    00:40:45.692 --> 00:40:51.420
    Again, she presided over the greatest border disaster in American history.

    00:40:51.420 --> 00:40:57.418
    Scary to think of what happens if she is in charge of our nation's entire national security.

    00:40:57.418 --> 00:41:10.360
    And our final bonus reason why the Trump economy is going to beat the Biden-Harris economy all day, every day.

    00:41:11.286 --> 00:41:14.215
    Trump is the president for the middle class.

    00:41:14.215 --> 00:41:18.655
    Kamala is now running around saying she wants to build out the middle class.

    00:41:18.655 --> 00:41:24.144
    That sounds like a familiar theme because it's exactly what Obama and Biden promised.

    00:41:24.144 --> 00:41:42.715
    But as the charts above show and this is another reason to get the book they offer compelling official government data that Trump beats Biden in delivering for the working class Americans, and that's why Trump's economic message is breaking through.

    00:41:42.715 --> 00:41:47.465
    Breaking through.

    00:41:47.465 --> 00:41:53.117
    This explains why virtually every poll from every pollster shows Trump with 10 to 30 percentage point lead in the question who is better able to handle the economy.

    00:41:53.117 --> 00:42:01.485
    All the above indicators are harsh economic and pocketbook realities that Americans see and feel every day.

    00:42:01.485 --> 00:42:04.887
    They are almost all pointing in the direction of decline under Biden.

    00:42:04.887 --> 00:42:06.367
    They are almost all pointing in the direction of decline under Biden.

    00:42:06.387 --> 00:42:10.610
    One of the few areas where Biden has a strong record is on job creation.

    00:42:10.610 --> 00:42:12.692
    But even that is a deception.

    00:42:12.692 --> 00:42:21.476
    Under Biden, a much larger percentage of the jobs are part-time and one of the leading areas of employment growth has been in government and health care.

    00:42:21.476 --> 00:42:33.023
    Over the last 18 months, the US has created more government healthcare job than the total for manufacturing, construction, mining, warehousing, drilling and transportation combined.

    00:42:33.023 --> 00:42:37.836
    That's horrific.

    00:42:37.836 --> 00:42:52.552
    What's scary is that Democrats and Kamala don't seem to have any solution to these problems, or even acknowledgement that they created them.

    00:42:52.572 --> 00:42:56.101
    Kamala blames greedy corporations or Putin or Trump or Republicans in Congress or even climate change.

    00:42:56.101 --> 00:43:11.016
    Kamala Harris is a Malthusian pessimist, which is the worst possible type of person who wants to provide leadership on American greatness and to give Americans confidence that we will have a more bountiful future.

    00:43:11.016 --> 00:43:21.376
    Not long ago, kamala was asked why the economy is in trouble, with home sales dropping to a 14-year low and mortgage applications to a 27-year low.

    00:43:21.376 --> 00:43:26.315
    Here was her bumbling answer.

    00:43:26.315 --> 00:43:31.855
    Here was her bumbling answer Young leaders suffer from climate anxiety.

    00:43:31.855 --> 00:43:34.039
    What is climate anxiety?

    00:43:34.039 --> 00:43:56.083
    It is their fear about whether they should have children, whether they should ever think about buying a home for fear it might be wiped out because of extreme weather occurrences.

    00:43:56.083 --> 00:43:56.465
    How rich is this?

    00:43:56.465 --> 00:44:10.077
    So Kamala and the entire left-wing movement scare the bejesus out of our children with nonstop end-of-the-world indoctrination rhetoric on climate change and they wonder why millennials and Generation Xers are so paralyzed with fear that they won't invest in the future.

    00:44:10.077 --> 00:44:21.099
    So there you have it Ten reasons why the Biden-Harris economy loses to Trump overwhelmingly, plus two bonus reasons.

    00:44:22.686 --> 00:44:30.277
    And just to wrap all this up, I have given you three books if you want to understand how to get the economy growing again.

    00:44:30.277 --> 00:44:40.686
    Just three books JFK and the Reagan Revolution by Larry Kudlow, taxes have Consequences by Art Laffer, and the Trump Economic Miracle by Stephen Moore and Art Laffer.

    00:44:40.686 --> 00:44:54.333
    These three simple books will help to outline and get you up to speed on how the economy prospers and how it grows in the great United States of America.

    00:44:54.333 --> 00:45:01.675
    So in today's Mojo Minute, kamala Harris has no idea how to get the economy going again.

    00:45:01.675 --> 00:45:07.918
    She has demonstrated that over and over in her word salads on every issue, especially on economic issues.

    00:45:08.719 --> 00:45:17.143
    Zero idea, just like Barack Obama didn't, and we suffered under 2% growth rates for his eight long years.

    00:45:17.143 --> 00:45:24.934
    And we have also suffered under Joe Biden, who might just be the worst president in all of American history.

    00:45:24.934 --> 00:45:26.559
    I mean, this guy has been devastating for everything.

    00:45:26.559 --> 00:45:34.746
    Foreign and domestic policies have all been horrible, joe's gunning for James Buchanan's position as the worst president of all time.

    00:45:34.746 --> 00:45:39.777
    They both have had the same initials, so maybe, maybe, there's something to that.

    00:45:39.777 --> 00:45:47.018
    They both have almost crippled the United States economy and the United States as a whole.

    00:45:48.126 --> 00:45:54.692
    Now, one person who does know how to get the economy going and he has a record of doing it is Donald J Trump.

    00:45:54.692 --> 00:45:59.536
    And because, as we know, taxes have consequences.

    00:45:59.536 --> 00:46:05.056
    Donald Trump has over 21 reasons why his economic plan will scorch Kamala's plan.

    00:46:05.056 --> 00:46:15.056
    I've given you just 10 plus 2 bonuses, and we're going to get the economy moving again, just like he did back in 2017.

    00:46:15.056 --> 00:46:20.014
    And let's be honest, this is not a Donald J Trump idea.

    00:46:20.014 --> 00:46:28.255
    These are ideas that have grown over the course of the last 100 years and smart people who have been studying how to get the economy growing again.

    00:46:29.126 --> 00:46:39.769
    Donald Trump is just merely surrounding himself with smart economic people who actually know what is going on that economic team of Stephen Moore, art Laffer and the great Larry Kudlow.

    00:46:39.769 --> 00:46:53.652
    They're going to advise Trump on tax cuts needed to help jumpstart the economy again and, followed by those tax cuts, they're going to have cuts and regulation and we will be on our way to prosperity again.

    00:46:53.652 --> 00:46:59.418
    Let's hope they get Trump to actually slow down and reverse spending.

    00:46:59.418 --> 00:47:02.152
    Let's pray for that to happen.

    00:47:02.152 --> 00:47:06.195
    If we do, this economy will come roaring back.

    00:47:06.195 --> 00:47:13.202
    Let's just pray, folks.

    00:47:13.202 --> 00:47:19.650
    Let's pray, and for all that, as always, let's keep fighting the good fight, because I sense the cavalry is coming.

    00:47:19.650 --> 00:47:26.893
    Much needed economic prosperity is around the corner for everyone with the election of Donald Trump and his much-needed economic team.

    00:47:26.893 --> 00:47:31.813
    Again, let's pray and, as always, let's keep fighting the good fight.

    00:47:35.666 --> 00:47:36.911
    Thank you for joining us.

    00:47:36.911 --> 00:47:40.295
    We hope you enjoyed this Theory to Action podcast.

    00:47:40.295 --> 00:47:49.489
    Be sure to check out our show page at TeamMojoAcademycom, where we have everything we discussed in this podcast, as well as other great resources.

    00:47:49.489 --> 00:47:53.318
    Until next time, keep getting your mojo on.
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