Latest / The Bill Handel Show / President Trump Eyeing Greenland | California’s Billionaire Tax

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President Trump Eyeing Greenland | California’s Billionaire Tax · The Bill Handel Show

• 0:01
  Speaker 1: You're listening to Bill Handle on demand from KFI AM
• 0:04
  Speaker 1: six forty. I was born angry.
• 0:08
  Speaker 2: Yeah, yeah, I was born angry.
• 0:13
  Speaker 1: And then we'll be a.
• 0:13
  Speaker 2: By EM six forty Bill Handle Here. It is a
• 0:18
  Speaker 2: Taco Tuesday, January twentieth. A whole lot going on every
• 0:22
  Speaker 2: year in Davos, Switzerland. It's a resort town in Switzerland.
• 0:28
  Speaker 2: Every year it becomes one of the most important places
• 0:31
  Speaker 2: on the planet as the world's elite comes to meet
• 0:36
  Speaker 2: for a week of fun, for volity, great food.
• 0:39
  Speaker 1: And just sitting down and schmoozing.
• 0:41
  Speaker 2: We're talking about world leaders, senior administration officials throughout the world,
• 0:48
  Speaker 2: the economic elite, I mean, major players ahead of I
• 0:52
  Speaker 2: don't even know who is there, but inevitably it would
• 0:55
  Speaker 2: be along the lines of heads of Apple and heads
• 0:58
  Speaker 2: of City Bank. That's a kind of people that are
• 1:01
  Speaker 2: there and they just schmooze and talk to one another.
• 1:04
  Speaker 1: Now, it's not a summit.
• 1:05
  Speaker 2: Nothing comes out of it as in treaties or whatever.
• 1:08
  Speaker 2: But they getting to know each other is pretty important
• 1:13
  Speaker 2: stuff and that's what this is about. Well, as you
• 1:16
  Speaker 2: can imagine, President Trump is there. He's the first president
• 1:20
  Speaker 2: since Bill Clinton to go there, and the whole thing
• 1:24
  Speaker 2: has become the US in Greenland, I mean the whole thing,
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  Speaker 2: and the European leaders have no idea, the economic leaders
• 1:34
  Speaker 2: have no idea which.
• 1:35
  Speaker 1: Way Trump's going to go.
• 1:37
  Speaker 2: They're already reeling from the tariffs, and now we have
• 1:41
  Speaker 2: tarriffs on top of tariffs.
• 1:43
  Speaker 1: Where it's real simple. If this is Trump saying to Europe,
• 1:49
  Speaker 1: if you.
• 1:49
  Speaker 2: Don't agree with me in terms of either buying or
• 1:52
  Speaker 2: annexing Greenland, I'm going to tear a few up the
• 1:55
  Speaker 2: ying yang And that's exactly what he is doing. And
• 2:00
  Speaker 2: Europe is absolutely reeling on this. I mean, how do.
• 2:02
  Speaker 1: They respond, Well, do they hold firm?
• 2:08
  Speaker 2: Do they tell the president go pound sand and yes,
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  Speaker 2: if you attack Greenland, if you send in the military force,
• 2:13
  Speaker 2: we are going to defend, which, of course, not only
• 2:16
  Speaker 2: would rupture of NATO, of which Denmark at Greenland is
• 2:22
  Speaker 2: a territory of Denmark. Not only would it rupture NATO,
• 2:26
  Speaker 2: one country of NATO invading going to war with another country,
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  Speaker 2: But now is it possible that we actually would have
• 2:33
  Speaker 2: war with France and Germany.
• 2:38
  Speaker 1: And England. I mean, it looks like that's where we're going.
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  Speaker 2: If President Trump is not held back, If He says,
• 2:51
  Speaker 2: if the President says Greenland is going to be ours,
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  Speaker 2: come hell or high water, and I'm willing to do
• 2:56
  Speaker 2: whatever it takes. And by the way, he's the one
• 2:58
  Speaker 2: president that I believe would do that, would say that
• 3:02
  Speaker 2: and do that. Now, is Europe going to cave and
• 3:07
  Speaker 2: that is forced Denmark to turn Greenland over the United
• 3:11
  Speaker 2: States and maybe a purchase. I don't know how much
• 3:14
  Speaker 2: is Greenland worth. I mean, it's do you get it
• 3:17
  Speaker 2: on a discount? Is there a prime day sale where
• 3:22
  Speaker 2: you get Greenland?
• 3:23
  Speaker 1: I have no idea.
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  Speaker 2: But if Europe doesn't cave in and effectuate help the
• 3:31
  Speaker 2: United States get Greenland, then the rupture is going to
• 3:36
  Speaker 2: be complete and it's going to go on for a while.
• 3:39
  Speaker 2: Now is I think Trump is willing to negotiate. There's
• 3:42
  Speaker 2: probably going to be some negotiation where the United States
• 3:45
  Speaker 2: is going to have far greater influence and maybe Greenland
• 3:47
  Speaker 2: will only be in name part of Denmark and the
• 3:51
  Speaker 2: United States will have complete and total control as far
• 3:54
  Speaker 2: as a military ally. Greenland has been in Denmark has
• 3:59
  Speaker 2: been a lunch ally from the US from the get go.
• 4:02
  Speaker 2: It was one of the founding members of NATO. I
• 4:06
  Speaker 2: mean since after world War Two. Denmark was a matter
• 4:10
  Speaker 2: of fact, he even during World War Two. And here
• 4:14
  Speaker 2: is the problem with Europe. Okay, we go back in
• 4:17
  Speaker 2: history to Europe. There are a bunch of gutlass wonders Europe.
• 4:22
  Speaker 2: What happened in nineteen thirty eight when Hitler was on
• 4:27
  Speaker 2: his move and he demanded Czechoslovakia the Sue Dayton Land. Now,
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  Speaker 2: I am not at all comparing I don't want to
• 4:34
  Speaker 2: make that clear because I know I'm going to get
• 4:36
  Speaker 2: the emails. I am not comparing Donald Trump to Hitler.
• 4:40
  Speaker 2: I am saying that Europe has a habit of caving.
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  Speaker 2: And what they did is they agreed to force Czechoslovakia
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  Speaker 2: to give up its su Dayton Land, a chunk of
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  Speaker 2: Czechoslovakia and give it to Hitler because Hitler said, you
• 4:57
  Speaker 2: either give it to me or I go to war.
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  Speaker 2: And at that time Europe, France particularly was much stronger
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  Speaker 2: than much stronger than Germany was. Germany had not really
• 5:10
  Speaker 2: re armed the way of course it later did when
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  Speaker 2: the attack started at the end of nineteen thirty nine
• 5:15
  Speaker 2: and the World War two really got going. The point
• 5:20
  Speaker 2: is is Europe going to cave? Well, there may be
• 5:24
  Speaker 2: some kind of a compromise because Europe, well they want
• 5:28
  Speaker 2: a compromise. It's that simple, went in doubt compromise. And
• 5:34
  Speaker 2: then the posts that are going back and forth, the.
• 5:39
  Speaker 1: Posts that Trump put up.
• 5:42
  Speaker 2: You know, for example, Great Britain is seeding back the
• 5:46
  Speaker 2: island of Diego Garcia, for example, it's going to be
• 5:51
  Speaker 2: I guess independent. It also seeding sovereignty over the archipelago
• 5:58
  Speaker 2: to Mauritius, and that's which is an independent country, and
• 6:01
  Speaker 2: they're gonna get the Garcia Trump nailed into Britain.
• 6:06
  Speaker 1: How dare you do that?
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  Speaker 2: I mean, how dare you give up one of your possessions,
• 6:12
  Speaker 2: one of your territories and give up sovereignty to another country.
• 6:17
  Speaker 1: I'll tell you what you do. I'll tell you what
• 6:21
  Speaker 1: you do.
• 6:21
  Speaker 2: In terms of what Britain should do internationally. I mean,
• 6:26
  Speaker 2: the hubris of this thing is insane. And with the
• 6:30
  Speaker 2: tariffs and the military. Okay, guys, you voted for him.
• 6:38
  Speaker 2: I didn't. Okay, Oh, I know, I'm not looking at you,
• 6:44
  Speaker 2: but people have.
• 6:45
  Speaker 1: I'll tell you. It was really sweating bullets.
• 6:46
  Speaker 2: In Colorado, there was a unanimous bill that was passed
• 6:50
  Speaker 2: by both houses in which water was is to be
• 6:54
  Speaker 2: dispersed from the Colorado River among several of the communities.
• 7:00
  Speaker 1: And this is deep red Colorado. Trump just vetoed it.
• 7:06
  Speaker 2: And the communities are spinning and saying, my god, I
• 7:10
  Speaker 2: voted for the man.
• 7:11
  Speaker 1: Look what he did to me. Well, I gotta tell
• 7:13
  Speaker 1: you lot's gonna happen. All right.
• 7:16
  Speaker 2: There is an article in The Atlantic written by a
• 7:18
  Speaker 2: guy named Tom Nichols, who is a staff writer, professor
• 7:22
  Speaker 2: emeritus of the US Naval War College, teaches at Harvard.
• 7:26
  Speaker 2: And here's his real claim to fame. He was a
• 7:29
  Speaker 2: five time undefeated Jeopardy champ, which just kind of neat. Anyway,
• 7:35
  Speaker 2: he wrote this article and he talks about and this
• 7:38
  Speaker 2: is what he teaches. He talks about NATO, and the
• 7:42
  Speaker 2: President says, this is a case we've never considered how
• 7:46
  Speaker 2: to betray and attack our own allies. We did not
• 7:50
  Speaker 2: ask what to do if a president becomes a threatening
• 7:53
  Speaker 2: meglomaniac who tells one of our oldest friends Norway that
• 7:57
  Speaker 2: because the Nobel Committee in Oslo refuse to give him
• 8:01
  Speaker 2: a Peace Prize or the Peace Prize, he no longer
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  Speaker 2: feels an obligation to think purely of peace and can
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  Speaker 2: instead turn his mind towards planning to wage war against NATO,
• 8:14
  Speaker 2: all because he didn't get the Peace Prize. By the way,
• 8:16
  Speaker 2: Norway does not give the Peace Prize as a Nobel
• 8:19
  Speaker 2: committee which gives the Peace Prize, which is based in Norway.
• 8:23
  Speaker 2: And he goes on to say the US military is
• 8:25
  Speaker 2: obligated by law to refuse to follow illegal orders. Mark Kelly,
• 8:31
  Speaker 2: who is now going to be brought up on charges,
• 8:35
  Speaker 2: or Pete Hetzek is going to reduce his rank and
• 8:38
  Speaker 2: his and his pension just because well, or because he
• 8:44
  Speaker 2: went and videoed with five Democratic Congress people that to
• 8:49
  Speaker 2: the military, do not you do not have to follow
• 8:51
  Speaker 2: illegal orders. Well, as Nichols writes, the US military is
• 8:56
  Speaker 2: obligated by law to not follow illegal orders.
• 9:00
  Speaker 1: But how about.
• 9:01
  Speaker 2: Orders that may not be illegal, okay, one way or
• 9:05
  Speaker 2: the other, but are clearly immoral and illogical. For example,
• 9:11
  Speaker 2: planning for the invasion of Greenland. If it is not
• 9:15
  Speaker 2: sold to the United States, it is not given to
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  Speaker 2: the United States, or it is not annexed to the
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  Speaker 2: United States, there may very well be an attack Denmark,
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  Speaker 2: which Greenland is a territory of the quasi independent territory
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  Speaker 2: was our ally during both wars in the twentieth century.
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  Speaker 1: All through World War II.
• 9:40
  Speaker 2: They were there against our fight against the Taliban in
• 9:44
  Speaker 2: nine to eleven and suffered real losses for a small nation.
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  Speaker 2: The bottom line is, according to Nichols, their soldiers bled
• 9:51
  Speaker 2: and died on the same battlefields as Americans. And American
• 9:55
  Speaker 2: officers know what Trump is planning, we all do, and
• 9:57
  Speaker 2: the world knows it. Trump won't stop saying it. And
• 10:00
  Speaker 2: their minds are going to rebel at directives because they're
• 10:04
  Speaker 2: being asked to do exactly the opposite of what they've
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  Speaker 2: been pared, prepared to do for years and apply it
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  Speaker 2: backwards against the people that they're trained to work and protect.
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  Speaker 2: In other words, the president is ordering them or will
• 10:20
  Speaker 2: order them, or threatens to order them to do something
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  Speaker 2: they have been trained never to do. And this is
• 10:29
  Speaker 2: the possibility of the United States becoming the aggressor against NATO.
• 10:34
  Speaker 2: And these are countries that have been our friends for centuries.
• 10:40
  Speaker 2: And so here's and it makes a really interesting point.
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  Speaker 2: The military's training will have to be shattered, reassembled into
• 10:50
  Speaker 2: a destructive version of itself. And here's the analogy he makes,
• 10:54
  Speaker 2: as if doctors were asked to take their life saving
• 10:57
  Speaker 2: medicines reconstitute them as poison and then give those that
• 11:03
  Speaker 2: poison to their patients.
• 11:07
  Speaker 1: That's a hell of an analogy. But it is that scary.
• 11:12
  Speaker 2: Why because does anybody believe, let's say, Trump doesn't get
• 11:15
  Speaker 2: his way.
• 11:17
  Speaker 1: I mean, look what happened with Maduro.
• 11:18
  Speaker 2: Although there's some practicality now because they realize that Delsi Rodriguez,
• 11:24
  Speaker 2: the vice president of Venezuela, who's part of the Maduro regime,
• 11:28
  Speaker 2: is sitting down and talking. And in the end that
• 11:31
  Speaker 2: may have been a great idea. And his how about Canada,
• 11:35
  Speaker 2: He's made it very clear Canada will be the fifty
• 11:38
  Speaker 2: first state and we will annex Canada.
• 11:42
  Speaker 1: What does that mean?
• 11:44
  Speaker 2: Canada says no, Now what the choice is, does the
• 11:47
  Speaker 2: US invade Canada? I mean, which you ever thought in
• 11:51
  Speaker 2: your wildest dreams. That's a sci fi picture. And here's
• 11:57
  Speaker 2: what he said. In the end, senior officers, starting with
• 12:02
  Speaker 2: the Chairman of the Joint Chiefs of Staff and the
• 12:03
  Speaker 2: heads of each service will follow Trump. The President gives
• 12:09
  Speaker 2: an order and that order will be followed no matter.
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  Speaker 1: What they think.
• 12:15
  Speaker 2: I mean, they'll resign, they'll give up their commission in
• 12:17
  Speaker 2: many places, but they are always people that will do
• 12:20
  Speaker 2: exactly what the president orders them to do, even to
• 12:23
  Speaker 2: the point of invading Greenland. You know, a staunch ally
• 12:27
  Speaker 2: of ours, Denmark, I mean for centuries. I mean, the
• 12:30
  Speaker 2: world has turned completely on his head. It really has.
• 12:34
  Speaker 2: It's just it's a heartbreaker. Okay, let's move over to California.
• 12:39
  Speaker 2: This is not an international although in some cases it is.
• 12:42
  Speaker 2: One of the things about California is we tax the
• 12:45
  Speaker 2: hell out of everybody. We have the highest gas tax,
• 12:50
  Speaker 2: among the highest property tax, income tax, the highest. I mean,
• 12:55
  Speaker 2: it's just really expensive. So what's going on now is
• 13:00
  Speaker 2: there is a battle over a new tax, and this
• 13:04
  Speaker 2: is the billionaire's tax. And what it would do is
• 13:08
  Speaker 2: take five percent, so one time tax until the next
• 13:12
  Speaker 2: one that comes around.
• 13:14
  Speaker 1: One time tax.
• 13:15
  Speaker 2: That would tax billionaires five percent of their worth excluding property,
• 13:23
  Speaker 2: excluding pensions, although you know who has zillions of dollars
• 13:26
  Speaker 2: in pensions, exclude a virtually everything other than retirement accounts,
• 13:33
  Speaker 2: pensions and real estate, mainly stocks. So if you have
• 13:38
  Speaker 2: someone that has let's say you have three billion dollars
• 13:42
  Speaker 2: in stocks, write anything over a billion, so two billion
• 13:46
  Speaker 2: dollars year now, and by the way, a lot of
• 13:49
  Speaker 2: these big time billionaires have a lot more than that.
• 13:52
  Speaker 2: We've got two hundred billionaires in California. Well, take five
• 13:56
  Speaker 2: percent of fifty billion dollars one time tax. That's excluding
• 14:04
  Speaker 2: the income tax that they pay on their earnings. This
• 14:07
  Speaker 2: is just what they're worth at any given time. And
• 14:11
  Speaker 2: so I got to tell you there's a lot of
• 14:15
  Speaker 2: blowback here, and one of them is how about billionaires
• 14:20
  Speaker 2: leaving the state, And a lot of them threatened to
• 14:24
  Speaker 2: do so, but they when you look at the numbers,
• 14:28
  Speaker 2: maybe not. There's another ballot measure that is going to
• 14:33
  Speaker 2: is looking to be passed, and this is labor unions.
• 14:37
  Speaker 2: They're proposing a ballot measure to raise taxes on companies
• 14:41
  Speaker 2: whose chief executive earns fifty times more than their medium
• 14:45
  Speaker 2: paid employees. Will tell you how much you can pay
• 14:49
  Speaker 2: your employees, and if you don't pay the amount that
• 14:52
  Speaker 2: we think is appropriate, we're going to hit you with
• 14:56
  Speaker 2: an additional tax. This is to the corporations, you know,
• 15:01
  Speaker 2: in reality is first of all, even getting out of
• 15:04
  Speaker 2: the ballot. No one knows if that's going to happen.
• 15:07
  Speaker 2: Because one of the things about Gavin Newsom, who likes taxes,
• 15:10
  Speaker 2: he shuts these downs all of these additional crazy taxes
• 15:14
  Speaker 2: he just shut down, and his historically shut those down.
• 15:18
  Speaker 2: So that's a big deal for those that are proposing taxes.
• 15:21
  Speaker 2: These are unions, by the way, who are backing this up.
• 15:24
  Speaker 2: You would think so. And one of the issues is
• 15:29
  Speaker 2: why billionaires don't.
• 15:30
  Speaker 1: Leave is because they're worth billions.
• 15:34
  Speaker 2: You know, if someone is worth twenty billion dollars and
• 15:39
  Speaker 2: five percent of that, what is that one hundred million?
• 15:44
  Speaker 2: I don't even have the math here. Whatever it is,
• 15:47
  Speaker 2: is it going to change their lifestyle? No, But I
• 15:50
  Speaker 2: think there is an issue where they just don't want
• 15:55
  Speaker 2: to pay this tax. They don't want to underwrite the
• 15:58
  Speaker 2: cost of living for everybody else in California if they
• 16:02
  Speaker 2: pay an enormous amount of tax. Anyways, I mean, obviously
• 16:06
  Speaker 2: there are loopholes like crazy and as a percentage, maybe
• 16:09
  Speaker 2: they pay less than me, because that's the way our
• 16:15
  Speaker 2: tax system works. You can deduct expenses. If you're an employee,
• 16:19
  Speaker 2: you can't, and you pay more as a percentage. But
• 16:23
  Speaker 2: in the end, the billionaires are saying, hey, we're paying
• 16:27
  Speaker 2: We are paying not as a percentage, but certainly in
• 16:31
  Speaker 2: terms of actual dollars. And so it depends on which
• 16:34
  Speaker 2: way you're going to go. The bottom line is that
• 16:37
  Speaker 2: there's going to be a fight. Newsom's going to fight it.
• 16:41
  Speaker 2: Our billionaire is going to actually leave. One of the
• 16:43
  Speaker 2: things that's pointed out is billionaires already have residences in
• 16:48
  Speaker 2: other states. I mean, billionaires have a place in Manhattan,
• 16:52
  Speaker 2: if they have a place in Aspen, they have a
• 16:54
  Speaker 2: place in Malibu, up in the Hamptons. I mean, people
• 16:58
  Speaker 2: have four or five six houses, and it is not
• 17:02
  Speaker 2: hard to just up and move the corporation, move your companies.
• 17:06
  Speaker 2: And that's going to be fear So the Legislative Analysts
• 17:08
  Speaker 2: Office says, yeah, we can. This is going to be
• 17:10
  Speaker 2: a short term gain. Long term, we have no idea
• 17:15
  Speaker 2: what it's going to do to the state. And do
• 17:18
  Speaker 2: we just keep on pushing tax after tax after tax
• 17:22
  Speaker 2: until it breaks. My favorite line is Bernie Sanders, and
• 17:27
  Speaker 2: this was now analogous to Justice Stuart Potter when there
• 17:33
  Speaker 2: were pornographic cases that were brought up at Supreme Court
• 17:38
  Speaker 2: and he said, there's no way I can define pornography,
• 17:42
  Speaker 2: but I know it when I see it.
• 17:45
  Speaker 1: Great line.
• 17:46
  Speaker 2: And Bernie Sanders was asked much the same thing about taxes,
• 17:53
  Speaker 2: income taxes. Is there any tax income tax. That is
• 17:56
  Speaker 2: too much money for you. Is it sixty percent, is
• 18:01
  Speaker 2: it seventy percent? Is it eighty percent? He said, I'll
• 18:04
  Speaker 2: know how much it is when it breaks people. Until
• 18:09
  Speaker 2: then there is no limit to what taxes would be.
• 18:15
  Speaker 2: I wish I was in this position, billionaire tax position.
• 18:19
  Speaker 1: But you know, go figure.
• 18:22
  Speaker 2: Okay, let me get local for a moment and talk
• 18:25
  Speaker 2: about apartments and the apartment builders and governments and individuals
• 18:32
  Speaker 2: who actually like to house people or looked at San
• 18:34
  Speaker 2: Diego because San Diego is leading the approval of apartment
• 18:39
  Speaker 2: buildings leads California. More already being built in San Diego
• 18:43
  Speaker 2: than any other place, certainly per capita.
• 18:46
  Speaker 1: So let me give you a stat.
• 18:48
  Speaker 2: As of last quarter, the number of new apartments under
• 18:52
  Speaker 2: construction in San Diego County went up ten percent.
• 18:57
  Speaker 1: From three years you're earlier.
• 18:59
  Speaker 2: In Los Angeles, the new apartment construction went down thirty
• 19:04
  Speaker 2: three percent over the same period. So San Diego is
• 19:11
  Speaker 2: expanding its apartment pool twice the rate of LA and
• 19:14
  Speaker 2: other major cities within the cluster. Cities in Orange County
• 19:18
  Speaker 2: are somewhere in the middle of all of that. So
• 19:21
  Speaker 2: I use the best and then I go to the worst,
• 19:23
  Speaker 2: the best being any place other than LA, the.
• 19:26
  Speaker 1: Worst being LA.
• 19:28
  Speaker 2: And in which category are we talking about where LA
• 19:33
  Speaker 2: is the worst? Oh, I don't know, insert name here
• 19:36
  Speaker 2: of any gatic category out there, and LA is the worst.
• 19:40
  Speaker 2: So LA's vacancy rate is among the lowest in the country,
• 19:45
  Speaker 2: rental rates among the highest, because there ain't anything being built.
• 19:49
  Speaker 2: So what is it all about. Well, it's a simple
• 19:52
  Speaker 2: question of philosophy. LA hates developers. LA does not like
• 19:58
  Speaker 2: people to come in and build apartment Well, it says
• 20:01
  Speaker 2: it does. But we need homeless housing, We need people,
• 20:04
  Speaker 2: we need shelters, and we get that from developers.
• 20:07
  Speaker 1: Okay, so we'll pay developer.
• 20:09
  Speaker 2: We'll charge developers up ying yang even to the point
• 20:11
  Speaker 2: where they stop developing.
• 20:14
  Speaker 1: Rent control.
• 20:15
  Speaker 2: In the city of Los Angeles, new apartment buildings are
• 20:20
  Speaker 2: rent controlled, and LA just made it more rent controlly.
• 20:26
  Speaker 1: And so what ends up happened?
• 20:27
  Speaker 2: Why? Because well, they want to keep renters and not
• 20:31
  Speaker 2: being rented out of their apartments.
• 20:33
  Speaker 1: And I understand that. But is.
• 20:38
  Speaker 2: There a magic number? Is there an in between? Is
• 20:41
  Speaker 2: there a sweet spot?
• 20:43
  Speaker 1: Not?
• 20:43
  Speaker 2: As far as LA officials are concerned, there is no
• 20:46
  Speaker 2: sweet spot. It's let's see what we can get developers
• 20:50
  Speaker 2: pay for so much. And they're saying, wait a minute,
• 20:53
  Speaker 2: if we have rent control like this, if you make
• 20:55
  Speaker 2: it this difficult for us to build because the permitting
• 20:59
  Speaker 2: process take years, They go through so many commissions. It
• 21:03
  Speaker 2: goes through planning commission, I mean, it goes back at
• 21:06
  Speaker 2: the city council has to okay projects that it just
• 21:10
  Speaker 2: becomes untenable. And the builders say, we're done, we're not gonna.
• 21:15
  Speaker 1: Deal with this.
• 21:15
  Speaker 2: And by the way, we got rent control, So how
• 21:18
  Speaker 2: do we build apartment buildings and make any money?
• 21:24
  Speaker 1: Well that's your problem.
• 21:25
  Speaker 2: Well no, okay, that's our problem and your problem that
• 21:29
  Speaker 2: we're just not gonna build. So it's we have a
• 21:33
  Speaker 2: mess on our hands. And what San Diego done is
• 21:35
  Speaker 2: gone the other way, and they've made it much easier
• 21:38
  Speaker 2: to build. They've made the permitting process much easier, the
• 21:43
  Speaker 2: fees far less. And guess what's happening builders and rent
• 21:48
  Speaker 2: controls sort of just it's the cap in California, which
• 21:52
  Speaker 2: is ten percent and ten percent fee rent increases for builders.
• 21:58
  Speaker 1: For owners is pretty healthy, just fine. For renters. You
• 22:02
  Speaker 1: can get rented right out at ten percent.
• 22:04
  Speaker 2: It doesn't take very long to no longer be able
• 22:07
  Speaker 2: to afford the rent's. There has to be a happy
• 22:10
  Speaker 2: medium in there someplace, and I don't know what the
• 22:13
  Speaker 2: figure is.
• 22:14
  Speaker 1: I have no idea.
• 22:17
  Speaker 2: You know, the one time I was a landlord, I
• 22:19
  Speaker 2: was there for a period of time and I gave
• 22:22
  Speaker 2: that up because I had these two great duplexes in
• 22:26
  Speaker 2: the Hancock Park area of Los Angeles that were built
• 22:29
  Speaker 2: in nineteen twenty seven, and they all almost museum places
• 22:36
  Speaker 2: to live in. And what I did is I bought
• 22:38
  Speaker 2: these and I brought them back to the nineteen twenty
• 22:41
  Speaker 2: seven version. It's like when you walked in the door,
• 22:44
  Speaker 2: it was a brand new nineteen twenty seven duplex. Cost
• 22:47
  Speaker 2: me a fortune, and I rented him, made no money.
• 22:51
  Speaker 2: So I'm an idiot, but I just thought I would
• 22:55
  Speaker 2: throw that at you. Have nothing to do with this story,
• 22:58
  Speaker 2: which I do on a regular basis. So coming up,
• 23:03
  Speaker 2: tech Reporter, we're going to talk to Rich Demureau, and
• 23:06
  Speaker 2: we got a lot of topics, none of which have
• 23:08
  Speaker 2: anything to do with Rich or Tech. I just thought
• 23:11
  Speaker 2: i'd throw them at you. Neils nodding, Yes, that's true.
• 23:16
  Speaker 2: How unusual for a hand all morning, This is KFI
• 23:20
  Speaker 2: am sixty.
• 23:22
  Speaker 1: You've been listening to The Bill Handle Show.
• 23:24
  Speaker 2: Catch My Show Monday through Friday six am to nine am,
• 23:28
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