It’s time to end taxes on savings accounts

Currently, only 55% of Americans are reaping the benefits of stock ownership, even though the stock market's reaching record highs. That's probably in large part because for many, the world of investing seems complex and hard to navigate, or they don't believe they have the time to successfully manage a portfolio. So easy-to-use financial tools, like savings accounts, have become many Americans' primary way to earn interest on their money. They're especially common among lower-income households that are less likely to have a financial education or the means to pay an advisor. But what many don't realize is that savings accounts are subject to taxes that make it hard for savings to grow.

Indeed, while disappointing, it's not surprising that Congress punishes smart savers by taxing their savings accounts relentlessly. Though banks are only required to send you a 1099-INT tax form if you earned more than $10 of interest in an account, Uncle Sam expects you to pay taxes on every penny of interest you earn. Money that could go toward savings or groceries is instead siphoned off to Washington. This hinders the ability of the 120 million American households with savings accounts to build wealth. It's time to end taxes on money earned in savings accounts.

And what is the government doing with your money, anyway? All manner of things. Beyond the necessary costs of running a government, your tax dollars are also subsidizing things like stipends to soldiers in the Somali national army and the study of the sexual habits of quails on cocaine. It's an understatement that the American people would be better off keeping this money in their own pockets.

This is especially true at a time when nearly 70% of Americans have less than $1000 in savings. Those extra dollars could go a long way in helping folks make ends meet. And in a world where politicians are proposing giving away "free money," it seems logical to cut out the middleman and simply stop taking it to begin with. Many other proposals for lowering taxes are criticized as being overly friendly to the wealthy. But savings accounts are a tool for the masses. So eliminating this tax is a win for everyone.

Though the average savings account only yields 0.09% interest, many banks are well above that number. Digital banks like Ally and Marcus, for example, have offered as high as 2.2% in the last year. That means it's easier than ever to make money in a fully insured, risk-free account. And Americans would be free to spend or save their money how they see fit. Indeed, CBS has reported that "a $500 surprise expense would put most Americans into debt." Money earned in accounts that act as safety nets for families shouldn't go to line the pockets of politicians and bureaucrats or to examine the sex lives of drugged-up quail. This is an opportunity for American politicians to do the right thing by removing an unnecessary tax.

Of course, nixing the tax isn't a cure-all for the American personal finance crisis. We need better financial education so that more Americans can overcome their fear and misunderstanding of the stock market. Investing for the future, and being equipped with the knowledge of how to do so, should be a cornerstone of what it means to build the American dream.

And in the meantime, eliminating the tax on savings account interest can help mitigate the financial pressure and squeeze that many are feeling. American families work hard to save money. We want to be stable, successful and upwardly mobile. Low-income households deserve the chance to build wealth. Middle America deserves an opportunity to accumulate wealth. And everyone deserves to have their savings protected.

Politicians should be encouraging smart saving, not picking our pockets at the first opportunity.

Conner Drigotas is the Director of Communications at a national law firm and is a Young Voices contributor.

ATF agent caught taking photos of gun-buyer info — insists she's definitely NOT 'creating a registry'

Image source: (Left) Video screenshot/ (Right) Samuel Corum/Anadolu Agency/Getty Images

Black Metal Firearms owner David Nagel originally recorded on video an ATF inspector taking pictures of his company’s documents to show what the gun industry is up against in the current political climate, but what he caught on camera has now gone viral.

Nagel joined Glenn Beck on the radio program to reveal exactly what happened the day he captured the shocking video, the threats made by that ATF inspector against his regular customers, and the insults she hurled toward all gun owners.

According to Nagel, Bureau of Alcohol Tobacco, Firearms, and Explosives Industry Operations Inspector Pamela Scott began conducting a routine review, but things quickly went sideways when she started taking photos of the shop's detailed sales records — including the identities of every gun buyer.

Nagel said he confronted Scott and even asked if she was "creating a registry," by collecting the personal information of his customers.

"No, that would be illegal," she allegedly answered.

That's when Nagel decided it was time to capture Scott's actions on video.

"We had quite a bit of recording," he told Glenn. "But a lot of it, we were not able to share because there was personal information visible in it, you know, contact numbers and things of that sort. So, we didn't want to put [all of the video] on blast."

The little bit he did "blast" out on Instagram garnered tens of thousands of views and received a wide range of both outrage and support.

Nagel went on to explain how Scott responded when he told her his customers would not be comfortable with her collecting their information.

"She said, 'well, it sounds like your customers are just being paranoid. Maybe I should look into them a little bit more.' Which I thought was really creepy," Nagel said.

"That's a threat," Glenn stated.

"And she said, 'you have a few gun nuts in there.' And I politely corrected her. I prefer gun enthusiasts. And she said, 'no, they're nuts,'" Nagel told Glenn. "That was a kind of backhanded way of describing the average American. Because, if we're all nuts, then what are you governing us for?"

Watch the video clip below to catch more of the conversation. Can't watch? Download the podcast here.

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A video has been making the rounds on social media that appears to show Florida Gov. Ron DeSantis (R) telling Fox News host Sean Hannity and Lara Trump that the FBI search of former President Donald Trump’s Mar-a-Lago home was “not a raid.”

The video, which has been viewed more than 3.5 million times as of this writing, was captioned "Ron DeSantis went on Hannity and things got SPICY." The (very badly) altered video inserted footage of DeSantis at a 2020 press conference to look like he was correcting Hannity's use of the word "raid" to describe the recent Mar-a-Lago debacle.

“It’s not a raid. With all due respect. It was not a raid. They were serving valid process in accordance with the laws and Constitution of the United States and the state of Florida. They did it with integrity. They did it with honor. And to say it’s a raid is disinformation," DeSantis says in the video, kicking off the alleged "spicy" back and forth.

Both Reuters and AP News have issued fact-checks to debunk the doctored video, because apparently people on Twitter can't decern the extremally, blatantly, painfully obvious alterations for themselves.

Did people really not notice that Hannity is stuck in a weird time loop that makes him appear to be suffering some sort of seizure? Or the way Lara's face is frozen mid-blink? Or how about DeSantis' beyond-even-the-world's-worst-mouth-breather default position when Hannity is speaking? And if none of that clued folks in, surely the crazy chyron would do the trick, right?

Maybe not.

DeSantis' then-press secretary Christina Pushaw (who just resigned from her job as press secretary to work as the rapid response director for the governor's re-election campaign) had to step in to set the record straight.

Gov. DeSantis joined Glenn Beck on the most recent "Glenn Beck Podcast" to talk about the unrelenting leftist and media attacks accusing him of tyranny, and scaremongering about how he'll "kill" our "democracy."

DeSantis is unafraid to call out their lies and keep Florida on the front lines for freedom. When Disney tried to protest his Parental Rights in Education law, he stood his ground — and won. He did the same with CRT and woke prosecutors.

Now gearing up to take on ESG.

In the video clip below, he details what his state has already done, what the legislature is preparing to do, and why he's calling on other states to join in his anti-ESG battle: "If we pooled our voting rights together, we would be able to counteract what California and New York and a lot of these other pension plans are doing."

Watch the video clip below or find the full episode here. Can't watch? Download the podcast here


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'Like Hunter Biden without the hookers': Why did Nancy Pelosi's son REALLY join Taiwan trip?

Photo by (Left) Anna Moneymaker/Getty Images (Right) I-Hwa Cheng/Bloomberg via Getty Images

Nearly everyone, from President Joe Biden to the head of the United Nations, agreed that California Democrat House Speaker Nancy Pelosi's trip to Taiwan was dangerous. Even former President Barack Obama's ambassador to China, Max Baucus, said Pelosi's actions made Biden look even weaker than he already does — and that's really saying something.

So, why did Pelosi risk global war and go against her own party? If you listen to Politco, she's got a "decades-long" beef with China and just wanted to show support for the Asian nation, but the timing of her trip suggests there’s likely more to the story.

On "Glenn TV," Glenn Beck exposed the Pelosi family's (including her son) lucrative connections to Taiwanese companies and revealed how certain business deals directly related to their trip to Taiwan.

"Nancy Pelosi and her husband and their son ... they love money as a family. By the way, did you know her son went on that trip and was doing business with, oh, wow, some of the people she was meeting with? Did you know that?" Glenn asked. "Sounds a little like Hunter Biden without the hookers and the crack."

Glenn pointed out that when Pelosi was elected to Congress, "somewhere in the late 1700s," her net worth was about $3 million, but by 2008 her family's wealth had ballooned to $31 million. By the end of the Obama term, her wealth had doubled to $61 million, and just two years later it shot up to $114 million.

"Wow! That is not bad beans for a meager public servant. They [Pelosi and her husband] must be master investors and it just took getting elected to public office to truly unlock that secret," Glenn quipped. "Or they were privy to some sort of information that the rest of us don't have access to, kinda like the sale of $5 million in computer chip stock before Congress voted on a recent semiconductor bill," he continued.

"But, surely, Taiwan has nothing to do with their own little private cash machine, right? ... I'm sure it had nothing to do with her husband's stock trading of companies that make computer chips. And it has nothing to do with, at the same time, Nancy is working on a semiconductor bill. It surely has nothing to do with the fact that the largest semiconductor manufacturer, TSMC, is right there in Taiwan, right? I mean, surely, with all of this heat, Nancy Pelosi would be smart enough not to be seen anywhere near Taiwan's semiconductor manufacturers," Glenn said.

"I'm not saying this might double the Pelosis' millions again, but I'm not not saying that either, you know?" he added.



On the radio program, Glenn continued to break down the hushed business deals between the Pelosi family and Taiwanese companies and revealed how it all directly relates to their not-at-all suspicious trip to the Asian nation.

Watch the video clip below to hear more from "The Glenn Beck Program." Can't watch? Download the podcast here.

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This MUST be why Trump (allegedly) had NUCLEAR documents at Mar-a-Lago

Photo by (Left) Win McNamee/ (Right) Bettmann /Contributor/Getty Images

According to the Washington Post's "anonymous sources," the FBI was looking for documents related to nuclear weapons during its raid of Mar-a-Lago.

Who could have guessed what Donald Trump did with those documents (never mind that he allegedly had them for over a year before the FBI actually did anything)? And who knows why they were searching through Melania's drawers for such top-secret information? Also, isn't it interesting that even after both Attorney General Merrick Garland and Donald Trump asked for the search warrant to be unsealed, only this very unspecific and very damning bit of information was "leaked" to the Washington Post? And just a few months before the midterm elections?

Since the DOJ still hasn't told us much (what was leaked to the media), Glenn did his best to present a few "theories" of his own on "The Glenn Beck Program" Friday. Watch the video clip below to hear more from "The Glenn Beck Program." Can't watch? Download the podcast here.

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To enjoy more of Glenn’s masterful storytelling, thought-provoking analysis, and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution, and live the American dream.