RADIO

The Fed is SILENT on these TRILLION-DOLLAR loan details

Thanks to the Dodd-Frank Act, the New York Federal Reserve legally was required to release yesterday both the names of institutions that received loans at the end of 2019 and how much those loans contained. Shockingly, just TWO foreign banks — one from Japan and one from France — received TRILLIONS of dollars alone (as reported by Wall Street On Parade). But when it comes to WHERE the money was spent, there’s more to the story…Glenn explains it all in this clip PLUS, why hasn’t the Fed released certain important details about those loans — like if they were ever paid back?!

Check out all the details here: https://wallstreetonparade.com/2022/03/the-feds-se...

Transcript

Below is a rush transcript that may contain errors

GLENN: Hey, I'm glad this story came out yesterday. As opposed to April 1st. Yesterday, was March 31st of 2022. And that marks the day, that the New York fed was legally required by the Dodd-Frank act, to release the names and amounts of institutions, it made emergency repo loans to, in the first quarter of 2020. The feds required to release all the information and data two years after it made the loans. And they complied. And then, I mean, with some of it. With some of it. Let me explain. Do you remember in January of this year, we told you, the largest borrower in Q4, 2019, pre-pandemic, was a Japanese investment bank. Nomura Securities. They had a total of $3.7 trillion in borrowing from October through December of that year. Now, this was from the fed, compiled by Wall Street. So when you have a Japanese bank, in the last quarter of 19, you know, you got a lot of banks who were like, hey. Hey, we're people too. We're not just -- we're better than the Japanese. And that was -- that was a security -- that was like Charles Schwab. That's not really a bank. That's somebody that's helping you buy stocks and bonds. And they got behind the eight ball. Just a wee little bit, of $3.7 trillion. In December, for the fourth quarter of 2019. Well, there was another bank. And this time -- I mean, the French are proud, you know. There's a French conglomerate, BMP, you know. And it says, hey. We are not going to let Japan make us look like we're not out of control. Huh?

BMP borrowed $3.84 trillion from the U.S. Federal Reserve, taking advantage of the 114 and 45-day term loans. Now, the fed's data released yesterday is weird. It -- it only -- it only has released what they gave to these foreign banks and the money they printed for these banks. But they just could -- where did I put the data on how they paid it back? Did they pay it back? We don't know, okay. We don't know. It was an emergency. Who writes things down? Now, if you've been a listener on the program. And a reader on the program for a while, the name BMP might sound familiar. But you have to go back to the time tunnel. Back in 2015, I reported that BMP had pled guilty to conspiring to violate the international emergency economic powers act, and the Trading With the Enemy Act. And they paid nine billion dollars in fines, to the U.S. Department of Justice. This is the largest fine, a foreign bank has ever paid to the Department of Justice. Now, I covered that story, seven years ago, because of the trading with the enemy part. You know. Wait a minute. BMP was found to have helped to launder tens of billions of dollars from legal funds, from nations under the security sanctions, including Sudan and Cuba. But the real reason I wanted to let you know about it, is not Sudan and Cuba. Is because BMP was the primary money laundering customer, Iran.

They were the go-to. Hey. How can we get these arms out? And how can we, you know, launder all this money? Oh, we are here to serve you. We are French. We are French! French! Be our guest. Be our guest. So they were just off being identified by the US, UK, and EU authorities, as being the world's largest state sponsor of global terrorism. Iran, like Russia recently, sanctioned with being cut off from the world's global system. Including SWIFT. Now, I don't know if you remember this, in 2014 and '15. The British Navy and the Israeli Defense Force, captured and boarded a couple of Iranian ships that were carrying rockets and mortars and thousands of firearms to be delivered to the Palestinian terrorist organizations. Remember that? The Gaza Strip?

Yeah. Yeah. It was BMP that was helping them do that. Anyway, they continued to help them. You know, and Iran just reached to BMP. Because they said, hey, be our guest. And what they did, they helped them sell weapons and oil all around the world, by funneling the transactions through Cyprus, Cayman Islands, and then finally to U.S. banks. Which is weird. Because that's the exact route, that Hunter Biden's payments went, to help dear old dad. So they paid $9 billion. And then in 2020. They needed 3.8 trillion in emergency loans, just to stay on A float. And let me give it again. $3.8 trillion.

Did they go to the IMF? No. The World Bank? No. The EU central bank? Because that should be the bank that would do it. No. They came running to Uncle Sam to bail them out. So they got that $3.8 trillion. It's good for an investment of only 9 billion, that they paid us. You know, hey, we'll scratch your back. You scratch ours. Give us 9 billion. Because you were trading with the enemy. And we'll give you 3.8 trillion. I mean, I think that's a pretty good deal. Now, let me go back. Remember I told you Nomura Securities. Like the Japanese Charles Schwab. And in December, they needed, what was it again, Stu?

It was 3.84. Okay. Wait. Wait. That was the other one. Anyway -- here it is. $3.7 trillion, they borrowed. The last quarter of 2019.

That should take care of things, right? No. No.

The very next month, they needed another $2.7 trillion. So the Japanese, one securities firm, needed 6.4 trillion brand-new crisp dollar bills. And you add that to the French, and you've got, what about, ten and a half trillion? Okay. Two banks. Those are the ones we know about, because we had to be told about them, because of Dodd-Frank. That is really nice. That is really, really, really, really, really nice. By the way, do you know how much leverage the fed has over foreign governments, institutions, financial markets? Do you now get why stocks and equities, just don't ever seem to go down, no matter how bad the news gets? Who is propping up those markets, you know. You know, who is doing that? I just can't figure it out.

By the way, the Federal Reserve is the largest creditor in the world. That's a gross understatement. If you want to understand what comes next, with programmable federal reserve digital currency, and the fed's outright promotion of ESG systems. Yeah. Yeah. Do you think -- do you think these countries are going to say no to us, about any of that? When we've loaned them all? And when you look at the price of meat, and you wonder, why is my dollar not going so far?

Yeah. It might be. It might be that. It might be that. You know, the official balance sheet now, of the Federal Reserve, says they own $9 trillion. You're going to love this. In mostly mortgage-backed securities. Oh. Isn't that great?

$9 trillion. And since the pandemic, some unknown quantities of private securities, like corporate bonds. But we don't know. And that implies since 2008, the fed has only injected $9 trillion, by printing currency and buying assets. If we really want to understand what's driving inflation, and how deeply the fed has embedded itself in the global financial system. You have to understand the size and scope of these loans. They're not part of the fed's balance sheet. Okay? Not part of it. And you know what's really weird? Is, I didn't know, that the fed began buying stocks. Did you know they were buying stocks? Yeah. They have BlackRock, helping them invest their money. This is why our country is upside down, financially. This is the game. And then we listen to people like the CEO of BlackRock. Who just yesterday, was saying, the arrogance of some Americans. These younger Americans. They've never really seen trouble. And they should brace for it. Because there's really bad financial trouble. The likes of which we've never seen. And I'm not sure that Americans are strong enough for it. You piece of garbage. You're -- you're the ones, that are raking in the cash. You're the ones that are raping the Federal Reserve. The Federal Reserve is now partnering with you, in the great reset. Because that's the net, you want to catch all of us in. We can't afford housing, because you buy up whole neighborhoods, at 50 to 100 percent more than the asking price. And you telling us, you're warning us, that times are going to get tough. Oh, thank you.

STU: This sort of reminds me of a period in my life, Glenn, when I got a credit card.

GLENN: Uh-huh.

STU: And I -- and I maybe put some purchases on that credit card.

GLENN: Right. Yeah.

STU: And then I thought, I should get another credit card. Because if you have that first credit card, it gets filled up. You can't use it anymore. So you get a new credit card, then you can buy things on that.

GLENN: Uh-huh. Uh-huh.

STU: And when I got that second credit card in the mail. I got these things for my convenience. Called convenience checks.

GLENN: Holy cow.

STU: Now, convenience checks. That sounds incredible. How convenient was it. It was very convenient. Because what I did with the convenience check, is I wrote it out, normal check. And then I wrote it to the other credit card company. To make the payments on that card.

GLENN: So you paid off. You were responsible.

STU: Responsible. I paid it off.

GLENN: You paid it off. Good for you.

STU: And then I noticed, that the apartment that I was living in, was requiring a payment monthly, for me to stay there.

GLENN: So you paid for that, a convenience.

STU: Convenience check.

STU: Because it was so convenience. It was much more convenience to have the money, to pay for the bill. I would take remembering convenience checks. And then I would never have to pay. And then you know what I did? I opened another card, and then they sent me convenience checks too.

GLENN: Holy cow. You know what, we're up against a network break. But I don't think I have to ask you how this all ended.

STU: Oh, it was as well -- it was very convenient, and it's going to turn out as well as it is for America.

GLENN: Really? Oh, well, thank you for bringing us into the weekend on a Friday with that happy news.

RADIO

Did USAID Really Fund Chelsea Clinton’s Wedding? Here's the FACTS

As DOGE continues to expose the many, many ways our government has wasted taxpayer dollars, Glenn gives a warning: “You have to be really careful [what you believe] because we don’t want to wreck our credibility.” While the things DOGE has uncovered have been true, there are also a lot of rumors and misinformation spreading online. Glenn addresses some of those rumors, like the seemingly-unfounded claim that USAID helped fund Chelsea Clinton’s wedding through the Clinton Foundation. We must ask questions, but we can’t jump to conclusions without being sure that we have the real facts. Glenn also addresses some provably true stories of government waste, like how the Pentagon overpays for things and why Glenn supports Trump’s decision to stop minting pennies.

Transcript

Below is a rush transcript that may contain errors

GLENN: Looking at the DOGE stuff, and I want to talk about this next hour.

We have to be really, really careful. Because I don't know about you, but when I heard that we possibly paid for Chelsea Clinton's wedding.

PAT: Yeah. Do we have that substantiated though?

GLENN: We don't. We don't.

And that's why I want to bring that up.

PAT: You have to be careful with that stuff. A ton.

STU: A lot of stuff coming out online.

And you can't quote this stuff. You have to be really, really careful.

Because we just don't want to, A, wreck our credibility.

And, you know, when we find out that it is absolutely true, that's when we can go and say, round them up!

Let's put them court.

PAT: Yeah. Yeah. There's -- there's a viral chart going around that shows Chelsea Clinton got, I don't know. Something like $84 million from the foundation from the Clinton foundation.

And that 3 million of that went to her wedding.

GLENN: Okay. So I think -- I think they did get $84 million.

PAT: I think that went to the foundation, right?

GLENN: Yeah. It went to the foundation.

Got it for the whole run. For Haiti or whatever.

And, you know, we know they spent $84 million in Haiti.

PAT: Uh-huh.

GLENN: Because look at the place now.

Oh, it's beautiful he has not it's beautiful.

PAT: Well, we were there, how many years after the earthquake.

And it still looked the same. As if the earthquake had just happened. You remember that?

GLENN: Oh, yeah. And the people from Haiti were saying to us, where is the money?

PAT: Where is the $10 billion? Yeah. Because that could have rebuilt. That could have rebuilt the entire country. 10 billion.

GLENN: About four times. About four times over, I think.

PAT: Yep. Yep.

GLENN: I mean, it is -- Haiti is just -- it's a sad, sad situation.

It's been ripped off by everybody in the world over and over again.

And I think the Clintons are, you know, they kind of lead the way on the -- on the charity for Haiti graft.

PAT: Yeah.

STU: But we don't know anything about that. We do know the Clinton initiative got $84 million.

But we don't know any more than that.

And, you know, honestly, if you're spending your tax dollars, I mean, that's what people have to realize.

Even if it is, you know -- even if it is -- it didn't go to Chelsea's wedding.

Which I would be surprised.

I would be shocked, if they were that bold!

PAT: Yeah.

STU: But, you know, this isn't an effective use of your money.

And people who are looking at it, and saying, well, it was only $5 million.

How much money have you paid your entire life in taxes?

Because I guarantee you, it's not going to be $5 million.

It's not! Very few people to have pay $5 million in their lifetime of taxes.

So that means, that everything that you paid. Everything that you worked for. When you work four months a year, to pay your income tax.

All of that has been wasted, your entire life.

I don't know!

I'm kind of pissed about that.

PAT: Uh-huh.

GLENN: I mean, what could you have done with all of that money?

And I -- I just don't -- I don't get people who are, you know, again, like we said, I'm for aid.

I'm absolutely for aid. I'm absolutely for looking at countries, and saying, how can we help you, if it's in our interest, and that's not aid.

That would be development. But I'm not for most of the development that has been happening. I'm not interested in nation building!

You know, so, you know, even if you're for that, are you cool with it going 60 cents on every dollar? To the government officials?

Or to the charitable officials. And only 40 cents of that dollar?

I mean, I'm not happy with that. We've gotten so used to corruption, in our government, on, you know, the Pentagon spent $400 on, you know -- on a toilet seat.

We're so used to that. That we just expect it.

This is not that.

The corruption that we're finding now, is beyond imagination.

It's going to be hard for people to get their arms around, what you're actually looking at.

Because we expect a certain amount of -- unfortunately, a certain amount of corruption.

But nothing like this!

And if you're -- you know, if you are a Democrat and you're inclined, not to believe it.

Okay!

I can understand that.

I'll give you the benefit of the doubt, for a while.

I'll give you the benefit of the doubt. And say, I probably would have been skeptical, if Joe Biden -- I would have been skeptical if Joe Biden would have come in and said, we will route out all of the corruption.

I would have thought, well, no.

They're getting rid of anybody who is conservative on corruption.

That's why I'm so excited about the Pentagon because that's going to be a lot of conservative love.

You know what I mean?

So called conservative love. It's just graft and greed and cronyism.

But still, it -- it's -- we're supposed to be in love.

The left is supposed to be in love with aid.

We're supposed to be in love with death. I'm not -- I -- I am not blind to either one of those things.

But go into the Pentagon. I would love to see them take.

At you see the congressman or the senator last week, that held up a bag of bolts, and said, this is about $10 at the store?

It's $10,000, if the Pentagon buys it!

PAT: Jeez.

STU: Where is that money going?

PAT: Incredible.

GLENN: Who is getting that money?
And, you know, you would say, well, they're charging ten thousands of individuals dollars a bolt, because, you know, the aircrafts that they're building.

They're so expensive.

And they can't actually charge the price of what it takes.

No, they're charging us the price with all of the overruns.

All of the hundreds of billions of dollars in overruns.

They're charging us that as well.

So my question is: Where do those billions of dollars end up?

In just the pockets of, what? McDonnell-Douglas?

PAT: Raytheon?

GLENN: Raytheon.

PAT: Congress people?

GLENN: Right!

PAT: You know, a lot. A lot of it -- you know it's winding up in their pocketbooks. Has to be.

GLENN: And you know what really bothers me is, these people are taking our tax dollars. And then they're giving that money, through lobbying. To our politicians. Who are allowing the corruption to happen.

So it's just this giant circular -- I'm just going to leave it at that.

This giant circular, something.

I don't -- I don't know what happens in circles.

But there it is.

PAT: Uh-huh.

GLENN: By the way, the other thing that Trump said, first of all, he's getting rid of pennies.

Did you hear that?

Executive order. Thank you!

I mean, you know, takes 3 cents to create 1 cent. What are we doing?

That's the dims thing I've ever, ever seen.

PAT: Yes. Especially when nobody wants pennies. Nobody uses them.

If you ever use cash. And you get pennies back.

You just put it in their take a penny jar, usually.

And don't even want it messing up your pocket.

GLENN: Right. I mean, it's absolutely worthless to the American people.

And it's costing our government 3 cents to make 1 cent.

Finally, the president is -- I mean, all of this stuff is so common sense. That's what's so frustrating about all of this.

Should had it should have been done long ago.

But for some reason, we just couldn't. We've known about the penny thing.

I've known about the penny thing, when it was a cent and a half to make a penny.

PAT: Yeah.

GLENN: That long ago.

PAT: He's -- he's leaving no stone unturned right now.

You've got the penny thing.

And then he just did the straw situation.

Did you see that?

We're going back to plastic straws.

He signed an executive order, or he is going to. Ending the ridiculous Biden push for paper straws, which don't work. Back to plastic, he tweeted out! Or truthed out.

GLENN: I love that.

PAT: It's just -- it's amazing the things that he's covering, at a breathtaking speed.

GLENN: I love that.

Do we have the CBS anchor trying to explain how Trump's approval ratings are going through the roof? Listen to this. Cut ten.

VOICE: What's driving this?

VOICE: I will keep it simple, Margaret. He's doing what he said he would do in the campaign. There's political value in that. In fact, 70 percent of people say he's doing what he's promised. That's whether they approve of him or not.

Now, there's another part of this that continues over from the campaign. There are words he was described as being tough. Being energetic.

And he still is today, in big majority numbers.

So as people take a look in these first few weeks, there's been a lot of activity. They're getting that general sense of governance. And that's being reflected in these early numbers.

VOICE: So that's perception. What about the actual policies?

VOICE: Well, let's start with the ones that are popular.

Again, these echo the ones we see in the campaign. The idea of deporting those in the country illegally continues to be popular. We saw that in the campaign.

GLENN: 59 percent.

VOICE: Sending troops to the US-Mexico border. Again, majority --

GLENN: 64 percent.

PAT: Wow! Wow.

GLENN: I mean, it is -- and they're just baffled by it. I don't understand. No. Really.

TV

Trump Border Czar WARNS Cartels, Illegal Immigrants, & Anti-ICE Politicians

White House Border Czar Tom Homan joins Glenn with the latest updates to the illegal immigration crackdown. He lays out why he took the job, how the deportations are going so far, and what’s coming next. Homan also explains why he’s “very concerned” about violent threats from the cartels. But he has a warning for them: “If they harm a SINGLE Border Patrol agent or soldier, President Trump is gonna rain hell down on them and I think he'll wipe them off the face of the earth." Plus, Homan has a message for anti-ICE politicians in sanctuary cities: "[Pam Bondi] will have NO PROBLEM if I recommend prosecution of a politician for impeding or knowingly harboring and concealing an illegal alien.”

Watch the FULL episode of Glenn TV HERE

THE GLENN BECK PODCAST

From Reality TV to Deadly Rescue Missions | Diesel Brothers | The Glenn Beck Podcast | Ep 244

When the State or National Guard can’t complete a rescue mission, it’s time to call the Diesel Brothers. “Heavy D” (‪@HeavyDSparks‬) and “Diesel Dave” rose to fame thanks in part to a prank that landed them on Jay Leno's show and then the Discovery Channel. But now they've found a much more meaningful passion. The Diesel Brothers have since carried out multiple rescue missions to recover crashed airplanes and missing persons, making use of their most impressive vehicles. These include Heavy D’s Black Hawk helicopter, which they say leaves the FAA asking, “Who are these guys and how do we know they aren’t going to kill themselves?” In a conversation about trucks, fame, and “rolling coal,” the two men outline their ongoing legal battles with an environmental group in Utah and give their take on the rise of electric vehicles. Heavy D, who has met the president himself, tells Glenn that “Trump has an authentic admiration of Glenn” because he is “legit,” and the three men applaud Trump for not taking on a “God complex” after the assassination attempt. In the end, the two put Glenn in the hot seat, asking him to name the one person — alive or deceased — that he would most want to have dinner with.

RADIO

How Trump’s 15% Tax Plan Could UNLEASH American Prosperity

President Trump is working on a plan to lower corporate tax rates to 15% for companies that make their products in the United States. Informal Trump economic advisor and Committee to Unleash Prosperity co-founder Stephen Moore joins Glenn to make the case that this plan, coupled with tariffs, could unleash American prosperity. But Trump might not stop there. Moore addresses whether Trump could get a “15/15/15” tax plan past Congress, meaning 15% corporate tax, 15% income tax, and 15% tariffs. “If he could pull that off,” Glenn argues, “it’s a new world!”

Transcript

Below is a rush transcript that may contain errors

GLENN: Stephen Moore, welcome to the program. Committee to unleash prosperity cofounder.

If I remember right, you've been with me against tariffs for a long time. Have you changed on this?

Because I think I'm changing, Steven.

STEPHEN: Hey, Glenn, good to be with you. Also, I'm an informal adviser to Trump on the economy. And, by the way, he knows that I'm not a huge fan of tariffs. But you set this up very well.

You know, a tariff is basically a consumption tax.

GLENN: Oh, good. Correct.

STEPHEN: It's something you and I talked about over the years is the national retail sales tax replace the income tax. Well, if you did that, you would essentially be taxing everything when it came in to the country.

Because it will be consumed here. And so what Trump is basically talking about, which I think is a really interesting idea, is not necessarily getting rid of the income tax. But lowering all the tax rates to 15 percent. You know, right now, you know, it's 30 percent or more. And then imposing that --

GLENN: I was going to say, what kind of world do you live in? I would celebrate with 30 percent income tax.

STEPHEN: Yeah. Right. If you're really rich, you could be uphill by 40 percent.

So I kind of like that idea. So I go with Trump the other day.

To say, the 15-15-15. So how about we have a 15 percent corporate rate, a 15 percent individual income tax rate, a 15 percent universal tariff, 15 percent capital gains/dividends.

Can you imagine that?

GLENN: It would unleash prosperity like nobody's business.

STEPHEN: Prosperity. Yeah. It would.

No country could compete with us here. Let me give you an example, you know, Glenn, that I think everybody can relate to because you have listeners all over the country.

You know what states in the United States have the biggest in migration right now?

GLENN: Yeah. Florida and Texas.

STEPHEN: And Tennessee.

GLENN: Okay.

STEPHEN: Now, for a bonus question, I know you're supposed to be asking questions. What you know those states have in common?

GLENN: No income tax.

STEPHEN: No income tax. So businesses, capital, and jobs, migrate to the places with low tax rates. So if we have the lowest tax rates in the world, on top of the greatest workers in the world, the freest country in the world, I mean, we would just blow away the rest of the world. And Trump is very -- I don't know. You know, it will be tough to get that done. But that's where he wants to end up.

GLENN: I tell you, that's the problem we've always had with tariffs, for me at least. It's just a tax, and you're already taxing us.

STEPHEN: Right.

GLENN: Well, then buy American, and then you don't to have pay for that tariff.

But I'm are already being taxed a pretty high rate.

Please, I don't want to pay more for things that maybe I want. Or maybe they're cheaper.

Because they're coming from China.

STEPHEN: Yeah. This is a good conversation for people who have this.

Trump said different things at different times.

In my conversation in the last week. It basically was saying, he put it very simply.

He said this to some of the speeches too. What he wants to do is charge a 15 percent tax on things that are made in China. Or, you know, Europe.

GLENN: Right.

STEPHEN: Or Japan.

But if it's made in Michigan or Ohio or Pennsylvania or California or Maine, he wants to have the rate 15 percent.

I'm like, well, I can live with that, Mr. President. I think that's a pretty cool idea.

I mean, I'm an America First guy. I'd rather have people buy things that are made in America, all things equal.

GLENN: Wait. Wait. Wait.

You just said, if it's from China, you're paying 15 percent tariff. But if it's made in America, you say you pay an extra 15 percent. That's zero!

STEPHEN: No. What I'm saying, you're going to pay a 15 percent income tax, if it's made in the United States. In other words, the profits you make on selling something. Let's say you make widgets. And you make a profit in making widget does in Pennsylvania and wherever it is.

GLENN: Right. But to buy that product, if it's made in America, you don't pay any tax!

STEPHEN: No, no, no.

In other words, what you're trying to do is skew the table a little bit more in favor of buying things in the US versus other countries. By the way, that's what other countries do to us.

GLENN: I know. I know.

I have to tell you, I think the way the president is handling really, everything.

I've never seen anything like this, Steven. Have you?

STEPHEN: Me either. No. I've been in the game as long as you have. I have arrived in Washington in the Reagan years.

So I still think Reagan was one of our greatest presidents. I still think Trump, it's interesting. Because whenever we have meetings, with Trump, he's always talking about -- he's very kind of envious. He wants to go down in history, as one of the great presidents like Reagan. To role model that out.

So I think, I think we're -- and he also will understand, Glenn, he's only got really about two years to get it done.

And then we will -- he's a lame duck. He can't run for reelection again. He understands that. That's why he races out of the gate like sectator out of the office.

I think I said on your show a month ago, or so. Buckle up. Because this will be a hell of a ride. And it's only been three weeks.

GLENN: I know. Seven days. And I think he's accomplished more than most presidents have done in their entire term.

STEPHEN: Definitely. Definitely.

GLENN: And I don't think it will stop any time soon.

Because I said, you've got only two years to do this. He said, Glenn, two years. I've got 100 days.

If I don't have all this done in 100 days. It's not going to get done.

STEPHEN: There's a lot of truth to that. There's a lot of truth to that. That's why we have to get this tax cut done.

That's one of my highest priorities is making sure we make the tax cuts that we cashed in 2017 permanent. I want to make sure your listeners understand something.

I think most of your listeners know this. But a lot of people are not aware of it.

If Congress does nothing, everybody's taxes are going to go up next year. Everyone's. You know, we don't want Donald Trump raising taxes on people.

And so we have to get this tax cut done. I like his idea of no tax on tips. I like the idea of no tax on overtime. We'll add some other things on it.

But these are all oriented toward making an American economy great again. And it's going to work!

GLENN: So why aren't we going for 15-15-15, over doing -- you know, making this permanent, why not in just one move try to go for the whole enchilada?

STEPHEN: Well, stick around, my friend, it may happen. We'll see how it turns out.

At the very minimum, we have to make those taxes permanent.

But we may go further than that. We may go with 15-15-15, and that would be a remarkable accomplishment.

And then we will produce American energy. He's already slashed the regulation clause.

So it will make America incredibly competitive.

And the jobs are going to flow here, not in China and Japan, and all the other countries. It's a beautiful thing.

GLENN: We not only have to grow our bottom line, grow our way out of this. Which we can. But we also must cut. It will take I think 65 years at this point. At the speed of DOGE.

And they're cutting like crazy, to actually balance the budget.

Are we going to be able to cut enough?

Is there an appetite for that?

STEPHEN: Well, as I said, I've been in this town for 40 years. And Republicans talk a good game. But when it comes right down to it, we like to spend money just as much as Democrats do. I think, how about what Trump is talking about. About getting rid of all this crazy foreign aid programs. I mean, the left is hyperventilating about this. But those programs never work.

They don't -- they don't need any development. They just create a huge international bureaucracy of people who hate America.

I mean, this guy has -- has a spine of steel. I mean, he really does.

GLENN: He really does. He really does.

Steven, thank you so much. God bless you.

Keep us informed, will you?

STEPHEN: Check in more often.

GLENN: Yeah. I will. I will.

Thank you very much.

Stephen Moore, Committee to Unleash Prosperity.

I have to tell you, I think if he did 15-15-15, it would explode.

PAT: Which is 15 percent flat income tax. Fifteen percent corporate?

GLENN: Corporate. And 15 percent tariff.

PAT: Tariff. Wow.

GLENN: So you don't make it in America. You know how many people -- what's the company that bought Ford and Jaguar and everything?

Stellantis?

Can't remember the name of that company.
But they're now talking about coming back to America. Because of the tariffs. They're going to make the Jeep back in Detroit. They've already moved 1500 jobs back to a factory here in America. They're going to move them also back to Detroit. To make the Jeep back in America. That's what happens.

PAT: Yeah.

GLENN: If you have a tariff and you have 15 percent tax! This is why -- you know, it's fascinating. This is why, when we were headed towards that global government, this is why the president and all the leaders of the West, tried to get an agreement that there would be a minimum corporate tax. Do you remember that?

PAT: Uh-huh.

GLENN: And we were a part of that. A minimum corporate tax. No! No.

We're not going to play -- we're not going to hobble everybody.

If we can work it to our advantage, so we grow, why would we hobble ourselves?

PAT: Yeah.

GLENN: And 15-15-15 would blow the world away. Blow it away.

PAT: Because far more competitive than any other industrialized nation.

GLENN: Oh, my gosh.

The jobs that would be created here.

You would get more money into the coffers of the United States government, because the prosperity would be so high! It would be amazing.

PAT: Yeah.

And to replace the progressive income tax with just a 15 percent flat tax. That -- that would make such a huge difference in American's lives.

GLENN: Think of just this. If we had a flat tax, think of how many dollars are wasted on IRS audits. How many -- how much time is wasted at places like H&R Block.

Your accountant. How much time you spend putting your taxes. Getting the receipts. Figuring it all out.

PAT: My gosh.

GLENN: Think of just the man-hours. Forget about the money that's being lost in preparing it! Just the man-hours.

If you had those man-hours back, what could we be doing with that money and those man-hours?

Just that is game-changing and growing the economy.

Because you have more money, to keep!

And more time to do what you want to do!

PAT: Uh-huh.

GLENN: I'm telling you, if he can do 15-15-15, if he can pull that off, it's a new world.

PAT: And Stephen Moore said, it's a possibility. That's pretty amazing!

GLENN: That is amazing. That is amazing.