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‘Phones ringing off the hook,’ Why private donors are powering the Trump Accounts · Cultural Wars | America Out Loud News

• 0:11
  You're listening to the Hidden Lightness on America Out Loud Talk Radio.
• 0:15
  I'm your host, Jimmy Hinton.
• 0:17
  The chairman of the White House National Economic Council, the NEC, said that wealthy Americans are calling the phone lines, burning the phone lines up, begging to give money to the Trump accounts.
• 0:35
  This is kind of interesting.
• 0:36
  And if this is true, I don't know.
• 0:40
  It's not been verified.
• 0:42
  This is coming from Kevin Hassett.
• 0:44
  He is the chairman of the uh NEC, the National Economic Council.
• 0:51
  But he claims that people are begging to give to the Trump accounts.
• 0:57
  This is after Michael Michael and Susan Dell donated over $6 billion to fund Trump accounts for people who were otherwise ineligible.
• 1:08
  And I did a show on that, and I predicted, I predicted that this was going to happen.
• 1:16
  I predicted that the Dells laid a precedent where other wealthy people were going to see not only the tax benefits in doing so, which by the way, I'm perfectly in favor of.
• 1:31
  I mean, if if uh people want to bark about that, well, the wealthy, they they need to pay their taxes.
• 1:36
  Well, there are other ways to distribute that money, other than giving it back to the government that's just gonna pee it out the window.
• 1:45
  You know, the government has not been known to be efficient with how they spend our hard-earned tax dollars.
• 1:53
  And it's always interesting to me.
• 1:55
  It's always fascinating to me that that's the top argument from people is that well, the wealthy people need to pay their taxes.
• 2:06
  Tax them more, more and more and more, make it hurt, bring the pain on them.
• 2:11
  Let them feel what it's like for us to pay taxes.
• 2:14
  Folks, I argue there's a much better way.
• 2:17
  There is a much better use of that money that wealthy people earn.
• 2:24
  Yeah, it just makes no sense to me that I mean, we see what the government does with our money.
• 2:30
  We see how big government has absolutely driven the nation into the ground in in some areas.
• 2:38
  They take our money and they they absolutely waste it.
• 2:42
  Look at what uh look at all the things that Doge uncovered.
• 2:45
  Places where our tax dollars were being spent.
• 2:49
  Uh, you know, in on like gender studies in Iran and you know, like all this weird bizarre stuff.
• 2:56
  Uh, they're using our tax money to fund this kind of stuff.
• 3:02
  You know, you hear about it all the time.
• 3:04
  It's like the we're gonna do a study on uh whether salmon react to uh you know water temperatures in um eastern Alaska or whatever, you know, like just really random bizarre studies, and they pump millions of millions of dollars into that.
• 3:24
  I had a friend who uh got paid really well, speaking of Alaska, he got paid really well to count fish.
• 3:34
  He lived on an island and was paid very well by the government to literally count fish.
• 3:45
  And he said, honestly, the job itself was the most boring job in the world.
• 3:51
  But he's like, it was pretty cool because they funded me to live on an island by myself and paid me really well to do it.
• 4:00
  So they they uh would bring supplies in by airplane, all paid for by our tax dollars.
• 4:10
  Yeah, they would bring supplies in, and he would make a list, and basically it's like a shopping list, and uh it wasn't just food, it was uh other supplies, things that he wanted, things that he needed, and they would fly it in like once a week or once every couple weeks or something like that.
• 4:31
  And it's these kinds of things that while it might be important to to study how fish migrate and things like that, you gotta look at how much money our government spends, and they they just they throw it out like it's nothing.
• 4:50
  Meanwhile, our our deficit is what, 38, almost 39 trillion dollars now.
• 4:57
  It's insane.
• 5:00
  So anyway, yeah, uh, you know, taxing the rich more and demanding that the wealthy pay their fair share, I'd rather them, quite frankly, not pay their taxes and fund things like this.
• 5:17
  You know, if if we're gonna quote unquote tax them, let them give them tax breaks.
• 5:24
  Now, I'm not saying don't pay taxes at all.
• 5:26
  That's not at all what I'm saying, because believe me, the wealthy still pay taxes.
• 5:31
  I don't care what people say, the wealthy are not exempt from paying taxes altogether.
• 5:39
  Now, do they find legal loopholes to where they pay a lot less taxes than probably you and I do?
• 5:46
  Absolutely.
• 5:48
  And so people translate that as well, they're keeping that money from for themselves.
• 5:53
  They're just greedy.
• 5:56
  And that's not the case.
• 5:57
  If you study wealthy people and what they do and how they invest, they use those loopholes to reinvest back into their businesses and hire more people.
• 6:09
  They literally are giving people income to support their families by taking advantage of the tax loopholes that are legal with an L, not with an IL.
• 6:22
  They're legal loopholes that were baked into the tax code so that businesses could reinvest back into their businesses or do things like this.
• 6:34
  They could do charitable giving.
• 6:36
  So I'm all for freeing up tax money.
• 6:41
  You know, instead of being one of those raving lunatics, it's like tax the rich, you know, redistribution of wealth.
• 6:49
  When Obama was big on that, I just it was so cringeworthy because socialism does not work.
• 6:57
  It's never worked, it never will work.
• 6:59
  We're gonna see.
• 6:59
  I mean, we're about to see what's gonna happen in New York City.
• 7:04
  I mean, they have a full-blown socialist now as their mayor.
• 7:08
  We're gonna see just how wellism works.
• 7:14
  And uh, you can mark this episode and you can come back in in a few years, come back in two years and re-listen to this.
• 7:24
  And if New York City is way better off for all of the people, then I will I will eat my words.
• 7:33
  Socialism doesn't work.
• 7:36
  It's never worked, and it's not gonna start working just because we think it's gonna work.
• 7:44
  So, this whole idea of redistribution of wealth and make the wealthy pay their fair share, you force them by increasing their taxes to 50, 60%.
• 7:56
  I think it's just absolute insanity.
• 8:00
  And it doesn't work.
• 8:02
  And if you think the government's gonna redistribute the funds in a fair and efficient way, you're sadly mistaken.
• 8:12
  So that's why I am so attracted to this idea of the Trump accounts.
• 8:18
  And we'll talk about the pros and cons.
• 8:20
  I didn't really do that in a recent episode where I talked about it.
• 8:23
  I just kind of talked about the pros.
• 8:25
  But there are, I mean, there are legitimate pros and cons and concerns, and we'll talk about that because the alternative is to do baby bonds.
• 8:38
  And the Trump account is not set up as a baby bond.
• 8:43
  So there is a difference.
• 8:44
  There are there are key differences, and I'm more in favor of the Trump accounts.
• 8:51
  All right, but right now the point is, and I'll I'll explain why.
• 8:55
  I'll explain all of that.
• 8:56
  But right now, the important thing is that what the Dells did not only inspired other people to give, but it also made people want to give.
• 9:11
  And it's kind of a pilot program to say, okay, the private sector now, they they can help expand the Trump account, which is a government-sponsored account.
• 9:25
  And now individuals have the freedom and the ability to contribute and to expand that program, which I think is incredible because this is not being funded by tax dollars.
• 9:38
  And that's exactly my point.
• 9:41
  You know, the initial thousand dollars that are going into this, that's gonna be funded by taxpayer tax dollars, which I'm okay with.
• 9:48
  I perfectly.
• 9:49
  I I think that's fine.
• 9:52
  I think that's a far better idea.
• 9:54
  It's so much more efficient than social insecurity, which doesn't start until.
• 10:00
  You actually start a job.
• 10:03
  A lot of people aren't starting into the workforce until they're 16, 17, 18 years old.
• 10:09
  And so they're not paying into social insecurity until they have employment.
• 10:16
  And so they literally begin with nothing unless their parents give them money.
• 10:21
  They literally start life with absolutely nothing.
• 10:25
  They literally launch into adulthood with not a dime or a penny to their name.
• 10:31
  And I just don't think that's right.
• 10:33
  I think we're setting people up for failure.
• 10:38
  And, you know, a big part of this is up to the parents, and I'm okay with that too.
• 10:44
  Now I've talked about this very openly.
• 10:46
  We open custodial accounts, opened custodial accounts for our children for all of them.
• 10:55
  And we contribute to their funds.
• 11:01
  And our children contribute.
• 11:05
  And they get to pick their own investments.
• 11:09
  They get to do their own research.
• 11:11
  They get to watch it grow.
• 11:12
  They get to, they get to see when they lose money.
• 11:18
  All of that's transparent.
• 11:19
  They get to see all of it.
• 11:21
  And I think it's really important to set our kids up for success.
• 11:25
  And it's kind of like, you know, this whole concept goes back to what Robert Kiyosaki says.
• 11:30
  So in Rich Dad Poor Dad, he talks about how people who grow up in poor families tend to stay poor.
• 11:40
  And people who grow up in wealthy families not only tend to keep wealth, but they tend to grow wealth.
• 11:46
  They get richer.
• 11:47
  And so there's the old, the old adage, the rich get richer and the poor get poorer.
• 11:53
  And that's 100% true.
• 11:55
  That that's there's that's not a wrong statement.
• 11:58
  That is absolutely true.
• 12:02
  But Robert Kiyosaki talks about why that's true.
• 12:07
  And he said there's a difference in philosophy.
• 12:11
  So he talks about how growing up he had a poor dad and he had a rich dad.
• 12:17
  So his poor dad was his biological father who was very educated, had his, I think he had his doctorate or PhD or something like that.
• 12:26
  Uh, he was a professor, and he just kind of capped out, like he leveled off and made mediocre income at best.
• 12:36
  And his mentality was well, you gotta get an education or else you can't make money.
• 12:42
  He spent all this money and built all this debt around education for a job that pays crap.
• 12:51
  And he had the mentality that if you're wealthy, uh, you know, you're most likely cheating the system, or people are helping you out on the side, or you know, it's not through hard work.
• 13:04
  It's like all this is given to you on a silver platter kind of thing.
• 13:08
  And people in the middle class are always gonna stay middle class, and that's okay.
• 13:13
  That's just that's kind of our fate, and we have to accept that.
• 13:17
  And the rich are always gonna try to keep us down.
• 13:21
  And uh wealthy people, his wealthy dad, who was not his biological father, he was a friend of the family, but he calls him his rich dad because this guy gave him all kinds of advice.
• 13:33
  He was very wealthy, and he taught Robert Kiyosaki that you look for opportunities.
• 13:44
  And the way that you build wealth is by not pretending to or not claiming to be a victim, and that in fact the world is not against you.
• 13:56
  In fact, the world is highly in favor of you.
• 14:01
  You just have to look for opportunity and even create opportunity.
• 14:06
  And he talked about how that mindset is something that is so deeply embedded into the DNA of both wealthy and poor families.
• 14:18
  So the poor families, their DNA, their whole DNA structure is that, well, people are people are always out to get us.
• 14:28
  Um we just accept that fate.
• 14:33
  That we're we're broke, we're always gonna be broke, and the only way that you can get ahead is either to get a really good education, or to have all this money just handed to you to win the lottery or uh, you know, to get an inheritance or things like that.
• 14:51
  So that's a poor person mentality.
• 14:54
  And therefore, they don't look for opportunity because they don't believe that opportunity exists for them.
• 15:01
  They believe the opportunity is only for wealthy people.
• 15:05
  And that's why you hear things like uh tax the rich.
• 15:10
  They need to be, they need to redistribute the wealth and give it to the poor people.
• 15:16
  Where Robert Kiyosaki says, no.
• 15:20
  You stop being a victim, and you go out and you look for opportunity, and if you don't see opportunity, you create opportunity.
• 15:29
  And Steve Harvey talks about this all the time.
• 15:32
  He said, you know, I he wrestled with the Lord for years.
• 15:37
  He was homeless for three years living in his car.
• 15:42
  He's been married, he's on his third wife.
• 15:45
  He had two failed marriages.
• 15:47
  He lost everything twice.
• 15:51
  Everything had to start it back, uh, I mean, right at ground zero.
• 15:56
  And so Steve Harvey talks about how, you know, I know what it's like to be poor.
• 16:02
  I know what it's like to have nothing.
• 16:06
  And so he's speaking from a place of experience.
• 16:09
  You don't have to remain poor forever.
• 16:13
  But it's hard.
• 16:14
  It's hard, hard, hard to dig your way out of that.
• 16:18
  And it's gonna be grueling, it's gonna be painful.
• 16:23
  You know, it it's you're gonna have to beg God to bless you.
• 16:29
  And God's gonna do it in his own timing.
• 16:34
  And so Steve Harvey adopted a wealthy mindset when he was poor, and he became extremely wealthy.
• 16:43
  So that's why I'm not a big fan of the baby bonds, and I'll talk about what they are and and and uh how they operate and those sorts of things, but um, this is incredible.
• 16:53
  Kevin Hassett says the phones are ringing off the hook at the White House.
• 16:58
  People are wanting to contribute to the Trump fund, the Trump accounts.
• 17:02
  This is good news.
• 17:04
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• 20:07
  NEC director Kevin Hassett says White House phones are ringing off the hook.
• 20:12
  People are ready, they're willing, they want to contribute to the Trump accounts.
• 20:17
  They saw what Michael and Susan Dell did.
• 20:20
  They contributed 6.2 billion dollars.
• 20:22
  It's one of the biggest philanthropy contributions ever.
• 20:28
  And what does the liberal media do?
• 20:31
  Well, I thought this was really ignorant.
• 20:35
  And it shows why Trump has disdain for them.
• 20:38
  I mean, honestly, he's not wrong in a lot of the things that he says.
• 20:43
  I think he's wrong in how he says it.
• 20:45
  He's very um just very, very offensive and uh name calls people, and it's just it's not very gentlemanly, but I think it just gets fed up at what the the media does.
• 21:02
  So the Dells give a massive amount of money $6.2 billion.
• 21:07
  And what's the liberal media do?
• 21:10
  Well, they take the most unflattering photo that they can possibly find of Susan Dell, and I'm talking like she's up on a stage and a camera's down at her ankles looking up, you know, at her face, and they just they find the most unflattering photos that they can, and they use that as their photo for for the news story.
• 21:36
  And I made the mistake of looking at some of the comments of these stories, and it just goes to show exactly the point that I'm trying to prove that people who are poor stay poor and they mock rich people, they make fun of them when they're doing something good that benefits them.
• 21:54
  That's the idiocy in this.
• 21:57
  It benefits everybody.
• 21:59
  Anybody who has a kid, it benefits them.
• 22:04
  And people are like, oh, yeah, she she looks trans.
• 22:08
  And they're like, yeah, these billionaires, they this is just a tax write-off for them.
• 22:14
  They don't care about your kids.
• 22:16
  Uh, they should just tax them, tax them.
• 22:19
  You know, why do we allow them to do this and give them tax breaks?
• 22:23
  You know, look at look at Susan Dell's eyebrows.
• 22:28
  Look at her hair.
• 22:29
  Look how manly she looks.
• 22:30
  Those are the kinds of comments coming from, and I can almost guarantee who it's coming from.
• 22:37
  It's it's a bunch of people who don't know how to succeed in life.
• 22:44
  I mean, no offense to them, but those are the kinds of comments from losers who don't know how to succeed in life.
• 22:53
  And they see anything that wealthy people do as a threat to them and a threat to society, and they can't just view it as a nice gesture.
• 23:07
  You know, like they didn't have to give this $6.2 billion.
• 23:12
  The Dells 100% did not need to do this.
• 23:17
  They could have found plenty of other areas to give it away.
• 23:21
  They could have found other nonprofit organizations, and they could have distributed uh those funds across different organizations and whatever, but they decided to help 25 million kids.
• 23:35
  And when you heard Michael Dell talk about why he wanted to do it, he said, I think that every kid deserves to be on a path of success.
• 23:44
  And this is the best way that we know how to be able to help put everybody on a path of success.
• 23:50
  I love that.
• 23:51
  I think it's fantastic, and I think he's just spot on.
• 23:56
  So I'm gonna talk about the um the baby bonds because this is a big idea, and Corey Booker was a big one several years ago.
• 24:05
  I think it was like 2012.
• 24:08
  Corey Booker, excuse me, wanted to start these baby bonds, and the idea behind the baby bonds is that it's government funded, it's uh you know, similar to the Trump account, it's a government-funded account, but typically local governments, either state or local governments are the ones that fund this.
• 24:32
  And unlike the Trump account that's just even across all accounts, everybody gets the same amount of money.
• 24:39
  Doesn't matter if you're rich, poor, anywhere in between.
• 24:44
  Um, although I think there is a cap.
• 24:47
  There is an income cap.
• 24:48
  I think that families make an over what is it, like over 150,000 household income or 200,000 or some something like that.
• 25:01
  I think anybody over that doesn't get them, but don't quote me on that.
• 25:06
  I just can't remember, and it's buried in these uh articles somewhere.
• 25:11
  But at any rate, that money doesn't fluctuate, it's a thousand dollars across the board for babies that are born uh, you know, in a certain time window, and then what Michael and Susan Dell gave the 6.25 billion dollars, that goes across an estimated 25 million kids, and it's the same amount of money.
• 25:36
  It's like 250 bucks or something like that per account, which I know people are gonna come back and they're like, oh, that they think they're helping people out with 250 bucks.
• 25:49
  Why don't they really uh help people out and just give all that money to poor families instead of giving it to rich and poor families, just give it to poor, and you know, so all the all the naysayers come out of the woodwork.
• 26:02
  Anytime that somebody does anything nice, you're gonna get that.
• 26:05
  So I'm sure the Dells know by now just how to ignore those kinds of people.
• 26:09
  It's not the first time they've ever been criticized.
• 26:13
  So I think it's incredible, but the baby bonds, the idea is that it's weighted in such a way that the poor families, the poorest families get the most amount of money.
• 26:28
  So the poorer you are, the more amount of money that you receive, up to something like $50,000 is the highest that I saw that was proposed.
• 26:44
  It is clearly a socialist and it claims to be a socialist program.
• 26:50
  And I think this is why Trump was not attracted to that aspect of it.
• 26:55
  There are things that I like about it, and that's that I do think that kids ought to be given money.
• 27:05
  There ought to be vehicles to where people can gift money to kids, and I am perfectly okay too with tax dollars doing that if it's evenly distributed, where everybody gets a fair shake, and when you start doing the sliding scale, like in the baby bonds, and the baby bonds are really restricted in how that money can be used.
• 27:33
  So, for example, you can't just take that money and and uh you know go out and spend it on Xbox, which that's okay, but it's really restricted, and it has to go, there's only a handful of things that it can be used for.
• 27:51
  It's like education, uh, a down payment on a house, and there are like a few other categories that you that you can do.
• 28:01
  All right, so that's the baby bond.
• 28:02
  The baby bond says we're gonna we're gonna help with this income gap.
• 28:10
  We have this really big, and it's growing.
• 28:13
  I've talked about this before.
• 28:14
  It's a growing income gap between the rich and the poor, and specifically the richest and the poorest.
• 28:24
  So there's that gap where there used to be a bridge called the middle class, and that bridge is getting thinner and thinner, and so people are getting extremely wealthy, or they're staying extremely poor, and there's not much middle ground anymore.
• 28:47
  And so one of the proposed ways that we that we fill that gap is by doing the baby bonds.
• 28:55
  It's a redistribution of wealth where we pump lots of tax dollars into the poor people, the poorest people, and that trickles off as you get older than you know, or sorry, wealthier and the wealthier people eventually get nothing.
• 29:15
  And I'm not a fan of that because it goes back to what Robert Kiyosaki talks about.
• 29:23
  You know, it's not about dollar amounts.
• 29:26
  Giving people a dollar amount isn't gonna pull them out of poverty, and I've seen this time and time again.
• 29:32
  I've seen it whenever we help people, we help poor people at the church who want to remain in poverty, and there's no other way to put that.
• 29:43
  In fact, they say, in not so many words, they say something to the effect of why would we get a job whenever we're living off of welfare?
• 29:57
  And they're not joking.
• 30:00
  And they're not being rude about it.
• 30:03
  That's just the life that they grew up with.
• 30:07
  It's called generational poverty.
• 30:10
  It's a learned form of poverty.
• 30:14
  Where you're born into poverty, and that's your that's your mindset.
• 30:18
  That's your mentality.
• 30:20
  Your mentality is that everybody's out to get you.
• 30:23
  People are out to screw you over.
• 30:24
  So the best way to uh to to prevent that to the best of your ability is to always be on offense.
• 30:33
  You be the first to strike.
• 30:36
  So you go in and you do what you got to do to survive.
• 30:40
  And that means you call churches, and it's not considered lying if it's self-defense, right?
• 30:48
  If you're fending for yourself, it's not really considered lying if you embellish your story.
• 30:54
  And so I would say probably somewhere in the ballpark of 85% of the phone calls that we get at churches, and that includes everybody.
• 31:02
  I think this is universal.
• 31:04
  I think this is across the board.
• 31:07
  I think about 85% of the calls that we receive, there are typically lies and quite a few lies mixed in with the truth.
• 31:17
  So the stories are usually embellished and details are embellished, and we end up getting ripped off.
• 31:25
  Um I've talked at length about this before.
• 31:29
  That's just it, you know.
• 31:30
  I'm not saying churches shouldn't contribute and give to the needs of people living in poverty.
• 31:36
  Uh, but this goes with the territory.
• 31:40
  Because people grow up in poor families and it's generational poverty, they've been taught from the time they were in infancy that the only way to get ahead is to lie.
• 31:53
  They don't call it lying.
• 31:54
  They call it um.
• 31:58
  I don't even know that they have a term for it, but it's basically telling your story.
• 32:01
  This is my story.
• 32:05
  And then you start writing down things, and I learned that it's really important when you're on the other end of the phone to write details down as they're saying them.
• 32:14
  You write them down because really quickly you find out that a lot of stuff contradicts.
• 32:21
  A lot of the information is contradicting.
• 32:24
  And that's because they don't think that you're writing this stuff down.
• 32:30
  And they think that they can get by by, you know, spinning a good web because they really have for a long time.
• 32:40
  And so I've learned to be pretty savvy and write the information down, and I call them on it and I question them.
• 32:47
  And I'm like, look, like if you really need help, I have no problem whatsoever.
• 32:53
  But you gotta lift some fingers yourself.
• 32:56
  You gotta have some skin in the game.
• 32:58
  So we don't just blindly give money out.
• 33:01
  Now, sometimes we do, but usually we require something of the other person.
• 33:07
  Uh, and that might even be just walking to the church building.
• 33:10
  You know, can you get a ride here and uh, you know, we'll help you out, but I'm not gonna just deliver it to your doorstep.
• 33:19
  And so that allows them to get a little bit of skin in the game and to uh, you know, show that they're actually willing to do something.
• 33:28
  So the baby bonds takes the exact opposite approach, and it says, well, people are poor because we have this radical divide.
• 33:38
  There's this income gap, and they were just born into poverty, and that's no fault of their own.
• 33:43
  And so the way that we pull them out of poverty is that we give them exorbitant amounts of money, and that'll help fill that gap, you know, the the income gap between the rich and the poor.
• 33:54
  We make the poor richer, and we equalize the playing field.
• 34:00
  We taxed the rich, we tax them more, we take more away from them, and we redistribute it back to the poorest of the poor.
• 34:12
  That is socialism, and that's why I'm not for it.
• 34:17
  I think there are some good things, there could be some good things about the baby bond system, but that's not what Trump wanted to set up.
• 34:25
  He intentionally didn't want the Trump accounts to be set up as a baby bond.
• 34:32
  So Senator Ted Cruz proposed a version of child savings accounts back in May that were called Invest America Accounts.
• 34:45
  So Quiry Booker, in his proposal, the government would pay uh the thousand dollars for newborns, though only those born between January 1st, 2025 and December 31st, 2028.
• 35:00
  The rest would have to come from family contributions or benefactors like philanthropists or corporations, which I happen to agree with.
• 35:11
  I think that's okay.
• 35:12
  I think that's a good idea.
• 35:16
  The government fronts the thousand dollars, which we pay taxes.
• 35:20
  I'd much rather my tax dollars go to fund things like this, where we're actually helping kids to put one foot forward.
• 35:29
  I think it's a great idea.
• 35:33
  Um anyway, Secretary Scott Bessent said that the the Trump accounts are a backdoor for privatizing social security.
• 35:45
  Though he later clarified that the accounts were an additive benefit for future generations, which will supplement the sanctity of Social Security's guaranteed payments.
• 35:58
  Well, you know what I think about Social Security.
• 36:01
  It's basically uh gonna be toilet paper here in a few years.
• 36:08
  It's just it's bankrupt.
• 36:10
  It is absolutely utterly bankrupt.
• 36:13
  So the government can take their social security and uh stick it where the proverbial sun doesn't shine, and actually do something good.
• 36:23
  Actually, do something that requires something more than people just being taxed into oblivion, and that's what Social Security is.
• 36:31
  It's a terrible tax.
• 36:32
  I'm a self-employed, you know, ministers are considered self-employed for the purpose of Social Security and Medicare and all that crap.
• 36:40
  Uh, and so we pay the full.
• 36:43
  I say crap.
• 36:44
  It's I don't mean to be offensive here, but I just get so frustrated.
• 36:48
  It's such a waste of of money.
• 36:53
  The return on investment, the ROI is absolutely terrible when it comes to what we pay in to what we actually get out of it.
• 37:03
  And I just think it needs to be structured much better.
• 37:06
  I'm not even against it.
• 37:07
  I'm not against Social Security, but as it stands, the way that it's structured, it's just hurting a lot of Americans.
• 37:15
  And I'm tired of seeing people living in pain.
• 37:20
  And I think there are better solutions.
• 37:21
  I think there are better ways.
• 37:23
  And that's why I'm so attracted to the Trump accounts.
• 37:26
  And I know it's not the silver bullet, it's not the answer to every single problem.
• 37:31
  It comes with its own problems, but it's definitely a better solution.
• 37:36
  Well, we're coming up on another break already.
• 37:38
  All of our shows do go to podcasts the next day after the broadcasts heard on talk radio.
• 37:44
  You can find them on your favorite podcast app.
• 37:47
  Be sure to subscribe, rate the show, share it.
• 37:50
  And when we come back, we're gonna talk more about this idea that what the devils did, that kind of created this pilot program.
• 38:00
  And now other wealthy people are like, hey, I want to contribute to that.
• 38:04
  And I think that's a good thing.
• 38:06
  Check out AmericaOutloud.news.
• 38:09
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• 39:52
  So there is an influx of phone calls, allegedly, that are coming into the White House where people.
• 40:00
  People are begging to give towards the Trump accounts.
• 40:04
  Now, this is according to Kevin Hassett, and he is the White House National Economic Council chairman.
• 40:12
  And he said that people are begging.
• 40:13
  They're begging to give money and they want to help fund more into the Trump accounts.
• 40:18
  They want to keep keep expanding it.
• 40:21
  So the Dells, Michael and Susan Dell already expanded it to the tune of $6.2 billion, which I think is incredibly generous.
• 40:29
  I think it's kind, it's gracious.
• 40:32
  It's a good idea.
• 40:34
  It's a great pilot program.
• 40:38
  And there are other people now who would like to contribute.
• 40:43
  So I was talking about some of the key differences between the Trump accounts.
• 40:46
  The Trump account is basically a custodial IRA account, a custodial retirement account.
• 40:53
  And it comes with some of the same benefits as a traditional custodial IRA.
• 41:01
  It's a little bit different.
• 41:02
  It's not probably not as good of tax benefits, but it's still pretty decent.
• 41:09
  And people can, to my knowledge, the rules are not completed yet.
• 41:15
  They're still writing the official rules for how the Trump accounts are going to play out.
• 41:20
  But it sounds like you can do uh traditional, uh not traditional, but uh like a Roth IRA or a traditional, I guess, uh in a custodial account, and you can do the Trump account in addition to that.
• 41:36
  That's my understanding, though I could be wrong on that, but it sounds like you can maximize other tax accounts, and then you can add this one as a bonus account.
• 41:49
  I think it's great.
• 41:50
  I think it's incredible.
• 41:52
  And I've already mentioned I have custodial accounts for my children.
• 41:57
  And whenever the Dells contributed to this, it made one of my children eligible, and that's still up in the air.
• 42:07
  That could expand.
• 42:09
  That's why I'm excited.
• 42:11
  If this is true, that people are calling the White House wanting to expand the Trump accounts, wanting to give more money.
• 42:18
  That's good news for those of us who have any children under the age of 18.
• 42:23
  And so I'm hoping that this is absolutely true.
• 42:29
  I mean, I don't know why he would lie about this, but well, politicians have been known to lie in the past.
• 42:36
  Um, so Kevin Hassett, again, he's the director of the National Economic Council.
• 42:42
  And he says that wealthy Americans are stepping up their interest in contributing to the Trump accounts.
• 42:48
  So this is really good news.
• 42:53
  And I think that the Trump accounts really can set people up, whether you're living in poverty or whether you're middle class or whatever.
• 43:04
  I think it can set you up to live a really good life.
• 43:09
  But it has to be up to the parents.
• 43:11
  The parents have to 100% have to have skin in the game.
• 43:19
  And this is where it's going to be challenging.
• 43:21
  And that's why I think the baby bonds are a preferred type of account for people, though I'm not one of them.
• 43:32
  Uh, I don't like the idea because to me, it just it's it's way too socialist.
• 43:39
  Where you give poor people tons of money, and the money is based not on merit, but based on your income level.
• 43:49
  And it is a redistribution of wealth.
• 43:52
  I just, I don't, I don't like socialism.
• 43:56
  I don't like what it stands for.
• 43:58
  I don't like the end result.
• 44:01
  And I happen to agree with Robert Kiyosaki that it's a mindset.
• 44:10
  And to be fair, I I mean, I've seen arguments both pro and con baby bonds.
• 44:16
  And uh, in fact, here is an article.
• 44:19
  Let's see if I can find who wrote this.
• 44:22
  It's it's a really good article.
• 44:24
  Uh, and this was written February of this year.
• 44:27
  So this is AmericanProgress.org.
• 44:30
  And the title of the article is Baby Bonds, a worthwhile step to reduce the racial wealth gap.
• 44:38
  And it lays out uh in a very good way, very detailed way, how there's a wealth gap, not just between classes, but among racial groups.
• 44:49
  And so Asians are at the top of the top of the wealth uh building economic group, and then white non-Hispanics are about half, make about half of what Asians do.
• 45:05
  Uh, other or multiple races make significantly less.
• 45:12
  And at the very bottom are black African American non-Hispanic.
• 45:18
  They're in the very dead last category.
• 45:22
  And so this article is laying out the argument that it's because of your race that you wind up in either really a really good financial position or not.
• 45:36
  And I think that it goes back to what Robert Kiyosaki says, and I'm going to keep going back to him because I just really, really agree with what he talks about.
• 45:46
  It's a mindset.
• 45:48
  And that's not to say that there aren't uh, you know, racial contributions to that.
• 45:56
  I'm not making that argument, but what keeps people in poverty is the mindset that, well, we'll never get out of it.
• 46:04
  This is this is what we're destined to be poor.
• 46:07
  We're always going to be poor.
• 46:09
  And I know because I've seen people live this way.
• 46:12
  I've seen it over and over and over.
• 46:14
  I've lost count of the number of times, and it's very predictable.
• 46:18
  It gets to the point where it's so predictable that you know how people are going to respond when you ask them certain questions.
• 46:26
  And we help a lot of people.
• 46:29
  Uh, we literally just over the weekend we helped another homeless person that we've been helping for a while, and you know, got him, him and his family off of the streets.
• 46:39
  It's very, very cold right now.
• 46:41
  And I don't like seeing people trying to survive.
• 46:46
  When it's this cold, the survivability rate drops dramatically.
• 46:51
  I don't like to see people out there trying to just survive when it's single digits at night.
• 46:59
  So, you know, our church happily helped.
• 47:02
  I shot off an email uh to our benevolence committee.
• 47:05
  Within minutes, I had a response back.
• 47:09
  This is approved, do what you gotta do.
• 47:12
  You know, so I'm all for helping people.
• 47:16
  But the other part of that is that if we just give money and say, well, it's because they're black that they're poor, therefore we give we give them an exorbitant amount of money.
• 47:31
  And uh white people get less, Asian people get far less, or none at all.
• 47:39
  I just I don't think it's a good idea.
• 47:43
  And I think the way that we help pull people out of poverty is we give opportunities.
• 47:47
  You create the vehicle to provide opportunity, but then you got to combine that with education.
• 47:54
  Because that's the that's one of the arguments about the Trump accounts is that, well, even though they're set up and there's a thousand dollars across the board, you know, there are going to be people who they just they don't take advantage of that because they can't.
• 48:09
  They're too poor, they won't be able to contribute while families in the middle class.
• 48:16
  They're they're gonna max out those accounts.
• 48:19
  They're gonna max them out at the $5,000 contribution limit per year.
• 48:24
  And so the middle class are gonna get extremely wealthy, and the poor people will only have the thousand dollars that the government puts in, and their families will never contribute another penny.
• 48:38
  And so they're gonna remain poor.
• 48:39
  So that's a valid argument.
• 48:44
  And there is a lot of truth to that.
• 48:46
  And so, what do we do?
• 48:48
  I think that we need to start educating people.
• 48:51
  We need to teach people living in poverty, and that's one of the things that I'm really proud that our congregation takes pride in helping to educate people and to help them create a budget and to connect them to people who can help them create budgets.
• 49:08
  I think it's really, really important.
• 49:12
  How to connect them to good or better jobs.
• 49:17
  A lot of times you have transportation issues.
• 49:19
  It's not that people aren't willing to work, it's that they just don't have the transportation.
• 49:24
  Well, there are ways that we can help connect people to transportation so that they can get better jobs.
• 49:32
  Uh, helping with skill stats, helping people put resumes together.
• 49:39
  A lot of people don't have a clue how to put a resume together, but they're willing to work.
• 49:45
  You know, we've got to be willing to think outside of the box, and this one size fits all, you know, just uh doing the baby bonds and give them more money to poor people, the poorer you are, or uh, you know, whatever racial group you belong to.
• 50:00
  To we're just going to give you more money.
• 50:02
  I just don't think that's the way to go because I know from what the research says and from experience that it's a mindset.
• 50:14
  You have to change the mindset to begin to pull people out of poverty.
• 50:20
  And we should all want that.
• 50:22
  We all should strive to help our neighbors, our brothers and sisters to get out of poverty.
• 50:28
  It's tough.
• 50:29
  It is a tough, tough life to live in extreme poverty.
• 50:34
  It's hard.
• 50:38
  And I just think there are vehicles out there to be able to drive people towards wealth building and to change their mindset.
• 50:47
  I think churches can do a lot more and should be doing a lot more.
• 50:54
  And that's again why I fall back on this idea that when we think the government's going to come in and save the day, and it's as simple as just raising taxes and giving more money to poor people.
• 51:06
  That's not, it's not going to work.
• 51:10
  That's not even putting a band-aid on a gaping wound.
• 51:15
  And I know I've seen it.
• 51:16
  I just I could tell so many of these stories.
• 51:20
  I just was talking to a family, and they were like, all right.
• 51:24
  So this family lost their home to a fire, lost everything.
• 51:31
  And they were given money.
• 51:33
  People did like a like an impromptu fundraiser.
• 51:38
  Wasn't a ton of money, but it was, you know, a few hundred dollars.
• 51:42
  That money was spent on a, as in one pair of shoes.
• 51:51
  Hundreds of dollars was spent on a pair of shoes.
• 51:58
  To where family members of this family lost our that lost a home are saying, hey, don't give them money because they're just going to blow it all.
• 52:08
  They're going to spend every last penny on frivolous things, and they'll do that before they feed their kids.
• 52:17
  And that's what you have to understand.
• 52:18
  When you've been doing this for a long time, when you've been working with people who are living in poverty, you realize that it's not that they're selfish.
• 52:26
  It's not that they're bad people.
• 52:27
  It's just that they that they've been stuck in this cycle where they've just not been taught.
• 52:33
  They just don't get it.
• 52:34
  They don't understand the basics of money.
• 52:39
  And how that's a really, really bad decision.
• 52:42
  Because in their mind, they're thinking, well, I need a pair of shoes.
• 52:45
  I need a good pair of shoes.
• 52:48
  And they're not thinking I could find a similar pair of shoes for about six dollars at a thrift store that are slightly used.
• 53:01
  And I could take this money and I could I could buy diapers, I could buy food, I could buy formula.
• 53:07
  You know, I could buy the essentials.
• 53:10
  So we really need to do a better job at educating people.
• 53:14
  In addition to starting these funds, we we can't stop at that.
• 53:19
  Right?
• 53:20
  The Trump accounts, we can't stop with just the Trump accounts.
• 53:26
  We've got to be willing to invest time into people.
• 53:30
  Time and effort and energy.
• 53:33
  We've got to equip them.
• 53:36
  We've got to help people and show them what it looks like.
• 53:39
  A lot of people don't even know what compound interest is.
• 53:41
  You know, you talk to them about compound interest, and they're like, what are you talking about?
• 53:46
  We need to be willing to educate people.
• 53:50
  And trust me, I know it sounds cruel.
• 53:53
  I know it sounds awful, and it sounds heartless, but the baby bond program will not work.
• 54:01
  It's just not going to work.
• 54:05
  Are there some who will take advantage of it and as they turn into adults will be like, oh my goodness.
• 54:15
  I have a hundred thousand dollars here, and I'm not going to waste a penny of that.
• 54:23
  I'm going to use that to get an education, to better myself, to put a down payment on a house or whatever.
• 54:29
  Yeah, there are definitely people who would do that.
• 54:32
  But it's going to be the minority.
• 54:34
  It's not going to be the majority of people.
• 54:37
  Because Robert Kiyosaki is 100% right.
• 54:39
  It's a mindset.
• 54:41
  And we have to change the mindset.
• 54:43
  We have to shape people and teach people and educate people.
• 54:49
  And talk about discipline, financial discipline.
• 54:55
  Uh not settling for a job where you're making minimum wage.
• 55:01
  If you have the ability to be able to develop a skill, uh, we've got to teach people that this you're not destined to make minimum wage when you have all these different skill sets.
• 55:13
  And there are some incredibly talented people who limit themselves because they don't think that they're worthy or they don't think that they can, or whatever it is.
• 55:23
  That's where we need to step up.
• 55:25
  We need to help people.
• 55:26
  We need to grab people by the hand and be the hidden lightness for them.
• 55:31
  And be an anchor and a light in their life.
• 55:36
  And I think that if we all work together, I really have this positive view of where America is headed.
• 55:45
  There are there are a lot of good things.
• 55:48
  The groundwork has been laid.
• 55:49
  There are a lot of good things in play.
• 55:52
  And I just think that we need to come together and start figuring this out and do it as a community and stop relying on the government to rescue us.
• 56:04
  That's not the answer.
• 56:07
  It's like nails on a chalkboard when I hear people like, hey, we need to create more government programs to help people.
• 56:18
  And like, well, define government programs because if they're the right programs, I'm all for it.
• 56:24
  If it's actually going to help people, if it's going to teach them the fish instead of giving them fish, I'm all for it.
• 56:32
  You know, there are things that we can do, there are ways that we can help, but we as a community, we as individuals, we as private citizens have a lot of things that we can do to help people.
• 56:44
  So I'm excited.
• 56:45
  The fact that uh, you know, the White House phones are ringing off the hook, and people want to contribute to expand the Trump uh the Trump account program.
• 56:55
  I think it's a great thing.
• 56:56
  I think it's a great thing for America.
• 56:58
  It's uh it's a lot of opportunity for people that otherwise would not have opportunity.
• 57:03
  So I think a lot of good things are in store for America.
• 57:06
  Just hang tight and do what you can to bless other people.
• 57:10
  You can find more out about my show and get all the latest podcasts if you go to the Mendy Navigation Board, America Outloud.news under our shows or schedule.
• 57:18
  You'll be in the know.
• 57:19
  There is a hidden lightness that shines inside of all of us.
• 57:22
  When there's so much darkness that envelops the world, remember that it doesn't take much light to expose that darkness and to ultimately inspire other people.
• 57:30
  Join me in being a light.