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Mark interviews Business News Editor at Breitbart, John Carney. · The Mark Simone Show

• 0:00
  Speaker 1: Seven ten wors Mark Simone Show continues.
• 0:05
  Speaker 2: Now, well, we bring you the smartest guests around. Now,
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  Speaker 2: nobody better on the subject of business the economy than
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  Speaker 2: John Carney. He runs as the editor of the Breitbart
• 0:17
  Speaker 2: Business Digest, which you should subscribe to Breitbart Business Digest
• 0:23
  Speaker 2: excellent stuff every day, and of course follow him on
• 0:26
  Speaker 2: Twitter and you'll see him on TV all the time.
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  Speaker 2: John Carney, how you doing I'm doing good.
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  Speaker 1: Thanks Mark.
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  Speaker 2: Hey, nobody better on the subject of tariffs. Now, just
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  Speaker 2: explain to everybody, there will continue to be tariffs, right.
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  Speaker 2: The President will find another way to do it.
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  Speaker 1: Absolutely, Look, the President has already announced one way he's
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  Speaker 1: doing it that's limited to one hundred and fifty days.
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  Speaker 1: But this is the game plan. So they've been working
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  Speaker 1: on this for months. I know this because I was
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  Speaker 1: speaking to people six months ago really about you know, hey, guys,
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  Speaker 1: what happens if the tariffs that you're doing get overturned
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  Speaker 1: is there will be no gap. We will have tariffs
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  Speaker 1: back the next day. It was in fact the same day.
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  Speaker 1: And one of the things we're gonna do is the
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  Speaker 1: one hundred and fifty days will run and then there
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  Speaker 1: will be new tariffs. That they're going to implement the
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  Speaker 1: one hundred and fifty days, it's almost just opening time.
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  Speaker 1: So a lot of these other tariff laws required you
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  Speaker 1: to do studies. They require Commerce Department reports, and then
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  Speaker 1: you can implement the urffs. So we get these they
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  Speaker 1: call them Section one twenty two turfs one hundred and
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  Speaker 1: fifty days. Then we'll get the other tariffs as well. So, yes,
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  Speaker 1: the policy doesn't change, even if the tools might have to.
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  Speaker 2: Yeah, so when the MSNBC crowd reports things like an
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  Speaker 2: incredible knockdown of the Trump terrafor the Supreme Court, basically
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  Speaker 2: the game wasn't more of a slap on the wrist.
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  Speaker 2: They didn't even suggest any remedy or anything. They kind
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  Speaker 2: of left them a little whiggle room there, didn't they.
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  Speaker 1: Yeah, look, the idea that this is like some humiliating
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  Speaker 1: defeat the three So the two best judges on the
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  Speaker 1: Supreme Court, which is which are Alito and Thomas sided
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  Speaker 1: with Trump on this. Kavanaugh sided with Trump on this.
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  Speaker 1: He and you know, rising star young guy. But I
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  Speaker 1: will say that they are When the Supreme Court takes
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  Speaker 1: a case, it usually means that it's actually an interesting
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  Speaker 1: and close case of the law, it doesn't need to
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  Speaker 1: take the easy cases. Yeah, and this decision had a
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  Speaker 1: million opinions in it, So you had the Roberts opinion,
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  Speaker 1: but Thomas writing separately, the Gorsuch opinion. The liberal judges
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  Speaker 1: had at least two opinions. So the idea that you know,
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  Speaker 1: there's this was some sort of huge stepback. It was
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  Speaker 1: a close thing in many ways, and you lost six three,
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  Speaker 1: But that doesn't mean that it.
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  Speaker 2: Wasn't worth at least trying. Yeah. Hey, now, John Carney,
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  Speaker 2: the Democrats claim that they hate tariffs, that it's the
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  Speaker 2: worst thing in the world. Well, there for corporate text,
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  Speaker 2: doesn't corporate tax raise the price more than the tariff might.
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  Speaker 1: And by the way, a lot of these Democrats used
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  Speaker 1: to be four terriffs until the game before yesterday. They
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  Speaker 1: hate them because Donald Trump's for them. It's one hundred
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  Speaker 1: percent Trump derangement syndrome. But you're right, Look what a
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  Speaker 1: the main thing, and you know, most directly, a tariff
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  Speaker 1: is a form of corporate tax. It makes a company
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  Speaker 1: doing an import pay attack. Now, who ultimately bears the cost,
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  Speaker 1: you know, consumers, foreign manufacturers, the shareholders of the company.
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  Speaker 1: That's a more complicated question. But it's the same question
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  Speaker 1: as a corporate tax. So when Democrats declare that a
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  Speaker 1: that you know, this is a tax on consumers. If
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  Speaker 1: they're right about that, every corporate tax is a tax
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  Speaker 1: on consumers as well. So it's really amazingly hypocritical of
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  Speaker 1: them to have discovered that they don't like taxing corporations
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  Speaker 1: simply because Donald Trump is doing it one way. It's
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  Speaker 1: incredible to watch, and I think it's going to backfire
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  Speaker 1: on them because they are hurting their arguments right, like
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  Speaker 1: when they say it'll get passed on to consumers. Guess what,
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  Speaker 1: that's the argument against raising corporate taxes, the argument against
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  Speaker 1: environmental regulation, to see, you know, all of these things
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  Speaker 1: can get passed on to consumers.
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  Speaker 2: Yeah, but it's in the tariff worst because if you've
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  Speaker 2: put a corporate tax at ten percent on Apple BMW,
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  Speaker 2: they pay the whole ten percent if you put a tariff.
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  Speaker 2: Isn't it true that they don't really have to pay
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  Speaker 2: the whole tariff, that it's paid overseas or with middlemen sometimes?
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  Speaker 1: Yeah, well exactly. So one of the things about the
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  Speaker 1: tariff is that some of it will be born the
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  Speaker 1: foreign producers. The other thing is that foreign corporations pay
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  Speaker 1: some of these taxes, so that this is one of
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  Speaker 1: the things that's really deceptive about the way it's the
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  Speaker 1: story is sold. Oh, Americans are paying taxes because importers
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  Speaker 1: pay them. Sure, but let's say you're Toyota, right and
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  Speaker 1: you are taking and your American subsidiary is for your BYD,
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  Speaker 1: the Chinese auto manufacturer, and you're paying tariffs. Are you
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  Speaker 1: an American paying tariffs? Yes, technically you're an American subsidiary
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  Speaker 1: of a foreign company, but really it's the foreign company
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  Speaker 1: that's paying the tariffs. And so even when they try
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  Speaker 1: to say Americans are paying the terriffs, it turns out
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  Speaker 1: a lot of those Americans are Chinese, Japanese, German, you know,
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  Speaker 1: they're not really Americans. To begin with.
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  Speaker 2: Yeah, all right, now, if Donald Trump, but a president
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  Speaker 2: is listening right now, what advice would you give them
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  Speaker 2: for tonight's day?
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  Speaker 1: I would say, really easily, mister president, there you are
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  Speaker 1: allowed to charge a license to import or to export
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  Speaker 1: things into the US. The president should absolutely say to
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  Speaker 1: each country that runs a large deficit that they must
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  Speaker 1: for their country purchase a export license to the US.
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  Speaker 1: And you can set that at the same billions of
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  Speaker 1: dollars they would have been paying in tariffs. It's an elegant,
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  Speaker 1: easy solution. It's totally legal. It's legal even it was
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  Speaker 1: legal before the Supreme Court case. It's in a sense
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  Speaker 1: more legal now because they said you can't do tariffs,
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  Speaker 1: but you could do licenses. The President should definitely look
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  Speaker 1: into the licensing scheme that we've described it prime our
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  Speaker 1: Business digest. We call it iaces and this would and
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  Speaker 1: the other great thing about it is you can negotiate
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  Speaker 1: it up and down the license fee. Donald Trump loves
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  Speaker 1: to be able to negotiate. So okay, if you give
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  Speaker 1: me a bigger deal and give you a lesser license fee,
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  Speaker 1: he can do that with this iasis program.
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  Speaker 2: Huh. All right, now, if Morning Joe is listening, I
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  Speaker 2: hear him yell all morning about here. The President better
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  Speaker 2: not take credit for solving the affordability crisis because people
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  Speaker 2: are still feeling it. What's the truth? I mean, obviously
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  Speaker 2: we have to improve. But he has done a lot
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  Speaker 2: about affordability, hasn't he.
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  Speaker 1: Well yeah, yeah, well so absolutely, inflation is way down.
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  Speaker 1: I have a piece that I wrote for Breitbart about
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  Speaker 1: seventy one things that are actually lower in price since
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  Speaker 1: Trump took over. Well, it really just January alone, seventy
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  Speaker 1: one things, I think forty one things that are lower
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  Speaker 1: than they were a year ago. So a lot of
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  Speaker 1: times you can bring down inflation, and inflation is lower
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  Speaker 1: than it was, you know, under the horrible Biden regime
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  Speaker 1: where inflation got up to the highest rite in forty years.
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  Speaker 1: It's still a little too high, but it has come
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  Speaker 1: down and it keeps coming down. But one thing they
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  Speaker 1: said was impossible or that some that prices would go down,
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  Speaker 1: we'll actually seeing a lot of things. The President inferences
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  Speaker 1: is down thirty four percent year every year, and that's incredible.
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  Speaker 2: Well, well, great stuff. Now Breitbart Business Digest. Everybody should
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  Speaker 2: subscribe to that weather what's the best way to do that?
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  Speaker 2: To where do you find it?
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  Speaker 1: Go to Breitbart dot com Slash Newsletters, sign up and
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  Speaker 1: it is absolutely free, comes out every day, and we
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  Speaker 1: really try to do a good job of not just
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  Speaker 1: telling people what has happened, but trying to explain what
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  Speaker 1: all this economic news really means for you and also
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  Speaker 1: give you, I think of what's coming next in the economy,
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  Speaker 1: so you're not surprised all the time.
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  Speaker 2: Yeah, and nobody does it better than Johncarney. Go to
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  Speaker 2: Breitbart dot com and then go to newsletters. Sign up
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  Speaker 2: for the Breitbart Business Digest. You can sign up for
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  Speaker 2: their other newsletters, but make sure you get the Business
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  Speaker 2: Digest because it'll it's free, it'll come right to your
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  Speaker 2: email every day, and you'll love it and you'll learn
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  Speaker 2: a lot. John Carney, great stuff, Thanks for.
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  Speaker 1: With us, Thanks for having me, Mark.
• 9:03
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• 9:07
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• 9:09
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• 9:11
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• 9:15
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• 9:18
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• 9:24
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