« The David Pakman Show

9/14/20: Mexico Shuts Down Border as Virus Rages & Trump Babbles - CLASSIC EPISODE from 7/6/20

2020-09-14 | 🔗

VACATION DAY / CLASSIC EPISODE FROM JULY 6, 2020

--On the Show:

--The Mexican state of Sonora closes its border to the US in Arizona, determining it is too dangerous to allow Americans, possibly carrying coronavirus, to enter their country

--Florida breaks the coronavirus one week case record as Phoenix admits it opened to early

--A visibly sweating and confused-looking Donald Trump glitches badly and struggles to remain coherent during his ill-advised July 3 rally at Mt Rushmore

--Donald Trump gives a historically terrible 4th of July speech in Washington DC

--Donald Trump's approval collapses in counties where coronavirus is raging

--Joe Biden's tax plan, despite being written off as centrist by many, would actually be one of the most progressive tax plans ever made policy

--The garbage math we predicted months ago comes full circle in light of last week's jobs report, including its cheerleading from the Trump administration and Donald Trump himself

---Furious, vile caller suggests David "go back to" Venezuela and that his 14-year-old daughter will "kick" David's "ass"

--On the Bonus Show: NC protests banned, the dog year to human year ratio revisited, Michael Cohen accused of violating terms of prison release, much more...

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This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
The David Patman Show is off this week for a much needed vacation, gearing up for the race to election day we will be with you for the debate. We will be with you for election night and the transition period, but we are off this week so enjoy this classic episode of the David When shall the David Gag Michel, David Cameron, died? Everybody rate to be back the studio we had the fourth of July holiday over the weekend, and it's not it's not really feeling like a great time to be proud.
About being an American are living in the United States and its only getting worse as restrictions on where Americans are allowed to go around the world continue to grow. We talked, ah, I mean listen. I said months ago that it's likely that as other country get grown a virus under control, and we don't because of our failed in competent leadership. We will not be allowed to participate in the travel that is now becoming commonplace in other parts of the world and case in point. The United States is included in the list of countries from which people cannot travel to Europe. This Europe being widely reopened spoke to friends in France and Bell. Jim over the weekend and in other taking precautions, masks on public transit, but restaurants are open. Things are happening. People are too falling between european countries. Americans not allowed to go there, it's getting even worse. Now the Mexicans state of Sonora has closed the border to the United States, specifically
borders with the state of Arizona ahead of the July Fourth weekend, the governor of Sonora, saying that american travellers are not going to be allowed to come in there's too much of a risk with corona virus being ram, and in Arizona and in the United States. They dont want Americans on sooner and beaches July. Fourth is a peak tourism time for Americans. Going over there are now before we go even further. Is anybody also little bit confused about going to another country to celebrate our independence day? I mean, I guess conceptually. If you just think about it, is time off. Then you go wherever there is no rule. That says, you have to stay in the United States, but it is interesting that in a state like Arizona which is not a particularly progressive stayed, there would be so much desire on our independence day to leave the country and to go to Mexico. I guess if you're under twenty one, it makes more sense because you can drink in Mexico and not in the United States legally anyway, but there's something about that. That's maybe a little bit counter intuitive, but in any case
the case. Americans not allowed to cross the border from Arizona into Sonora. A reopening date has not yet been announced, and it's just too dangerous. Americans are a danger to Mexico, Mexico having its own food, share of troubles controlling corona virus, but Arizona one of the global hot spots at this point never mind one of the american hot spots, the growth rate of cases in Arizona, one of one of the largest in the world and it does seem, I mean listen. I understand why they're doing it, I don't like that. We can't travel to Europe. I had a trip to Europe Land in June. Obviously it was canceled. I was hoping that I could reschedule it to August. I haven't and it doesn't look like that's going to be even remotely safe, so I'm not going to do it. So from a personal perspective, I don't like it but you have to imagine that a lot of people going from Arizona to Mexico for the fourth of July during a pandemic are not going to be what we would,
all our best to borrow a term from Donald Trump- it's probably the anti mass skirts, maybe Anti Baxter's as well. Conspiracy, theorists the so called liberty. People may be birth is true. Third, different persuasions, trumpets and gun people, Q and ONS and, of course, because of the virus, probably some covert people as well, because who else would really be doing Unnecessary foreign travel right now is doctor. Anthony voucher recently said he would only get onto airplane in an emergency right now. So then, Brazil. Arizona are horrifying. Ninety eight thousand total case this, probably by the end of the day, Arizona, will be it. A hundred thousand total cases approaching two thousand deaths very fast growth rate peak death, number so far in Arizona was just a few days ago. July. First is the day on which Arizona has had the most single day, deaths and looking at case numbers. It would not be shocking that they bear that in mind
a few days Sonora in Mexico, the state of Sonora, their hospitals are filling up. Their testing capacity is limited. They can't afford a spike, so they're, saying sorry, Americans, you can't come here so parts of Mexico are now close to Americans. The canadian border is closed, except for essential travel Mandatory quarantine can't fly to Europe, they wanted. Nationalism were sort of weirdly, getting this isolationist nationalism, not exactly by our choice but happening as a result of other countries instituting limitations on Americans. The optimistic hopeful scenario right now. I dont want to blow smoke anywhere, but you know up down wherever it is. You don't want smoke. Blown
I'm gonna blow it, but the optimistic scenario right now is Biden defeats Trump. When he takes over in January, we likely still have a huge mess, hopefully by then there's an early, a back seat. There's the initial vaccine access by January, I think optimistic- would be health care workers in some of the most vulnerable, and it will still probably be six months beyond that of Biden of focusing heavily on corona virus to really get things under control economically and medically. We're going to talk about the economic component in a little bit and, of course, a lot of this will depend on republican obstruction, which is why taking control of the Senate in November. In addition to removing Donald Trump, is so clearly important, and because we're here
the full week this week, no days off this week later this week, I'm going to revisit the topic of the Senate, which I think is a really important one. Are you sick of winning, as I am at this point? Ok now, let's talk about corona virus more broadly and what's going on, so We will do I'm not doing these daily anymore, but I'm sort of doing these, weekly or or or as the data requires, the big picture on corona virus is its really really bad here in the United States. A lot of the world has already figured out January twentieth. We got our first case. South Korea got there first case. They still have under three hundred total deaths. At the last I checked out, we are obviously doing much much worse than that around a hundred twenty five thousand deaths in total right now, in terms of cases, we are setting new records in terms of new cases in the United States, we had almost sixty thousand new cases in us.
Single day on July. Second, about fifty five thousand cases on July. Third, some lower numbers over the weekend, typically over weakens and holiday, weakens the numbers decrease. So we could have today and tomorrow some huge numbers as a result of catching up on under reporting over the weekend. Now, a good thing is that death birds are down. There's this growing idea on the right that the evil left the marxist socialist left doesn't want to admit that deaths down, despite cases being up, oh I'm readily admitting it and it is about five or six different possibilities about whites going on. I don't want a single person to die. I dont want a single person to get corona virus and I hope that that continues and we'll talk about why that may be going on in a little bit terms of cases. The hot spots are Florida, Texas,
California remains a hot spot, Georgia, Arizona, the Carolinas Tennessee, it's mostly red states, plus California. Florida set a major record with the most new cases in a single week of any state since the start of the pandemic, they had over fifty nine thousand cases in a seven day period. Last week the Phoenix Arizona Mayor has it: did they opened up to early. This is not the republican governor of Arizona. This is merely merely that an important person, but what I mean is they are speaking only from their democratic perspective. As mayor of Phoenix take a look at this: we bend way too early in Arizona. We were one of the last states to go to stay at home and one of the first to re emerged and we re emerged at zero to sixty. We had crowded night Clubs. Handing out free champagne no masks our twenty forty four year olds, which is my own demographic, really lead the explosion, and we ve seen growth in that area. We are seeing a lot of people go to law.
Family gatherings and in fact, their family members we are in a crisis related to testing, was visiting a testing, only this week and people waiting still eight hours good for her for admitting it runs in Arizona say it's an insane situation. Hospital capacity is rapidly filling up in Texas University of Texas, Austin researchers expect hospitals in Texas will earn in Austin, rather we'll be overcapacity. Pit, Usually by the end of the month. The mayor of Austin says therein trouble and a reality were learning. Is we learned early that governors have deal with the reality on the ground, where its trump doesn't from can just say, were putting out the embers and everything's going rate governors have to deal with the real situation, some of the governors. Is to ignore the reality like, for example, we saw this in Texas were seeing it in Florida. Arizona mayors doubly have to deal with the realities that sometimes governors
We have to deal with how many of our hospitals were full right now. Do we have to start telling people in Phoenix that they ve gotta maybe go to to son if they wanna? If they need- and I see you bed, for example, so much mayors are increasingly sounding the alarm. Now, let's get back to this question, why are deaths so low compared to these new case now first, because when you look at the case, numbers were having now bigger than we ve never had before the death numb these are only a fraction of what we were having in April and early. May that's a good thing. We don't want people tonight, today. But we want to know why this is going on deaths, continued trend down, so there's a few possibilities. We discussed all of which are still on the table. One is that there is just a lag between cases in deaths as the hospitals get better at treating people earlier in the disease. It may take even longer to took to be very sort of dark for people to die
so the deaths haven't yet happened from a lot of these early cases. The ideas need about nineteen to twenty one days for a case to become a death. If it's going to war on day seventeen right now. So if the explanation is that we just haven't seen the deaths yet from these new cases, we would expect the deaths, despite some time in the middle or the end of this week, we're gonna watch that another hypothesis is. There is now a less deadly strain which may be more contagious. In other words, it spreads more easily up, but it is less severe, so it will cause fewer deaths per case. That's an assertion. We have not seen actual evidence of that. Yet we want to be careful number three some states could just be lying. I mean that that's the the
you know it's very simplistic explanation, but from what we ve seen in Florida and some other states, its possible states are seeing more deaths, but there simply lying about it again. We need evidence to really believe that the fourth possibility is that increasingly its younger people now testing positive. So, even though the total case numbers are going up, the number of people in the high risk age groups are less likely to be getting it now because their staying home, and so a lot of these young cases are not ultimately going to lead to deaths. Number five is increased. Testing means that in general you have less sick people getting tests. At an earlier point, tests were
so difficult to come. By that you they were really restricted to people who were much more ill now, in those case numbers you have people, but your capturing more of the cases and a lot of those cases or less severe. That's a possibility, and the number six is some combination of these factors and or something that we don T yet know so we're going to keep watching it no desire to see deaths go up for political reasons about, as I have already told you, the case for removing Donald Trump is Crystal clear without a single additional death, and we will have certainly in the next seventy two hours a lot more information about whether we can cross some of these possibilities
off the list or whether they are a likely or realistic, hypotheses big announcement today, next Tuesday, ok, Tuesday July Fourteenth, we have two things going on. The third David Pachmann show chest: tournaments, ok, Tuesday, night, eight p, M Eastern Third, David Pachmann, show chest tournament we're doing one month. That will be the July tournament and and and and very exciting. We will have a huge one day: membership special. You don't have to play the chest tournaments to get the membership special we took. Unfortunately, at the end of June last year we had a ton of men birth sign up because of a promo. We ran a lot of. Yearly. Memberships came up for renewal in the last week and because of the virus, a lot of people were unable to renew. So we unfortunately had like our biggest three day, loss of memberships that we ve never had so next Tuesday we're gonna try to get some of these
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David Bagman Shell, David Pachmann, died cast today, you members of the day, are Ashley you're wrong, Deborah Jackman Ashley Endeavour a thank you so much for your support, and I also want to thank today's longtime sustaining member of the day. Lance riddles who's been a member for almost five years. Thanks to all of you grab a membership, it join Patman, dot, com, cheap, quick, easy
good you get the daily bonus show for members only and your supporting alternatives to homogenous tired, repetitive corporate media, join pachmann dot com is the place. Okay. I am going to give you video now of two. Absolutely bonkers opera speeches- I guess I'm hesitating to even call them speeches public events at which trumped said things over the fourth of July weekend. Now from the from the perspective of rallies, Donald Trump has decided he's doing wrong. Please he did the rally in tools such Oakley Homa. We ve already started to see cases rise and rise and rise in the surrounding areas. The rally itself was just an absolute of absolutely disgusting combination of red meat and die whistles and fearmongering combined with lies, and
A Donald Trump was determined to keep it going so on July. Third, Donald Trump did an event at Mount Rushmore, and this was one where social distancing would not allowed. They actually zip tied the chairs together, so people were not able to spread the chairs apart. There was barely a mask insight and unfortunately, after all of this build up, this was one of Donald Trump worst speeches and can I sort of grimace even calling it that incredibly low energy. This was what were calling member upper and down or trump I'm now, calling it after all Trump and benzodiazepines Trump. This was benzodiazepines a very, very low energy, tromp ugh glittering noticeably multiple times on certain words, which I will play for you kind of doing stream of consciousness type stuff. It was the verbal equivalent of an inkblot or roar shock task may be the best way to describe it extremely sweaty gripping
his lectern, a white knuckling. The audience was relatively low energy. So let's go through some of this stuff, we're gonna start with the glitches and Donald Trump trouble speaking there a lot of it. He had a major glitch on Jefferson if you're watching this you'll see him verbally catch. On the word Jefferson and his right shoulder twitches again, and he seems to do something very, very odd. Let's take a look at it a couple of times, Thomas Jefferson, a great Thomas, Jefferson, Thomas Jefferson, a great Thomas Jefferson. So let's pick it up right after that Trump was mentioning Thomas Jefferson Assent, fully to start reading, Thomas Jefferson, Biography in total monotone. Very, very weird part of the speech. Take a look Thomas Jefferson, a great Thomas Jefferson was thirty three years old, when he traveled north to Pennsylvania
And brilliantly authored one of the greatest treasures of human history, the declaration of independence. He also after Virginia's constitution, conceived and wrote the Virginia statute. For religious freedom. Just bizarre right, I sounds like it. Trump is reading Jefferson's Wiki Bio off of the awful prompted the crowd doesn't care. More importantly, reading Thomas Jefferson Biography has nothing to do with trumps, failed governance our policy or anything like it trump later mangled. The word totalitarianism, calling a totalitarian ism, take a look at that. This is the very definition of totalitarianism and it is completely alien to our culture and to our values, and it has absolutely no place in the United States
of America Trump again going with Ulysses. S grant, of course, still can't say that one take a lesson, Elysium says: scrap abolitionists and many others, and this was actually part of Trump just naming people. This was remember during twenty fifteen and twenty sixteen at his rallies trumpet just read poles now trump just naming people during his events where the country of Andrew Jackson, Ulysses S, Glad and Frederick Douglass. We are the land of wild, barely a cock and Buffalo Bill Coding, where the nation that gave rise
to the Wright Brothers did Tuskegee airman Harriet Tubman that went on for a while. I'm not gonna play all of it. More struggles. Talking continued, struggling with magnificent struggling with mountain. Take a look at this a better place to celebrate America's independence than beneath this magnificent, incredible, majestic mountain monument to the greatest Americans who have ever lived. Ok, so a lot of difficulty. Speaking as the point it's now get into the meat and the content of this there's this new strategy that Donald Trump is employing during his public events, pretend that the left is some kind of marxist fascist nightmare. Take a look at this again very low energy. What he is saying is crazy, but
delivering it in this benzodiazepines sort of mode schools honours newsrooms, even our car boardrooms. There is a new, far left. Fascism that demands absolute allegiance. If you do not speak its language, perform its rituals recited mattress and follow its commence, then you will be censored banished blacklisted, persecuted and punished. Nakata in us make no mistake. This left wing droll revolution is designed do overthrow the American Revolution. In so doing. They would destroy the very civilization that rescue billions from poverty
disease, violence and hunger and that lifted humanity to new heights of achievement, discovery and progress to make this possible. They are determined to tear down every statue. Symbol in memory of our national heritage. So low energy seems to be on downers and the content. Cultural revolution. Talking about the left wants to overthrow the american revolution that you want to make the United States just an offshoot and beauty.
Long to the United Kingdom, I don't see any left is to want to do that and just imagine for a second. If a president, Barack Obama or another democratic president gave a speech about fighting the extreme right wing and referenced defeating not seize in world war, two and fighting the cold war or whatever, as if that's what's going on today, if a democratic president did the equivalent of what Donald Trump is doing here about Marxism and people who want to undo the American Revolution Fox NEWS and rush Limbaugh, unhandy and Tucker, and all of them they would be going insane for a week. That's essentially what Trump is doing and you have right wing pseudo intellectuals like Rich Lowery, saying this was a great speech if you believed that monuments, okay, we ve learned that Donald trumps staff want him to talk less about monuments because they see it is kind of a losing approach
and again from going on and on here about monuments. He also sounds like you sleep talking now, it's more like Ambien like it's weird trump gives applause line. The audience is almost silence her trunk, just weights and finally gets some. Some reaction from the It's all very weird. Our nation is witnessing a merciless campaign to wipe out our history. The same are heroes, erased, values and indoctrinate our children angry mobs, trying to tear down statues of our founders. Deface most sacred memorials and unleash a wave of violent crime in our cities. Many of these I have no idea why they are doing this, but some
exactly what they are doing. They think the american people are weak and soft and submissive wipeout history and erase our values. How wouldn't taking down confederate statues arrays our values. I didn't think our values were the values of the federal see, but maybe among Donald Trump supporters. Those values are more common than than may be. I believe, living in Massachusetts Trump, then still seems not to understand the basics of how a virus works. He talks about killing the virus. Of course viruses not actually alive. Let us also send our deepest thanks to our wonderful veterans, law enforcement. First, sponsors and the doctors, nurses and scientists working tirelessly to kill the virus.
He also on their own. Viruses can do nothing until they enter a living cell like without cells. Viruses would not be able to multiply so. Viruses are not considered living things from talks about killing the virus. Who cares right? It's the least of our concerns. If trunk took corona virus seriously, I wouldn't care if he thought the virus was a hybrid of giraffe and a shark. I really wouldn't like if he was actually dealing with it properly taking it seriously. He happens not to be, and then lastly, here's another just super low energy part where I guess Trump is criticising. Democrats, it's not even clear what the critique is guess they're not for law and order or something- and he says, kids are taught to hate their country cities that are run by liberal Democrats in every case is the acceptable result of years of extreme indoctrination and by
since education journalism another. Cultural Institutions every law society a nature, our children are taught in school you, hate their own country, I do believe that the men and women who built it we're not heroes, but that were villains, so the audience just barely engaging with what Donald Trump is saying- and this was not the only horrifying gong shows speech that Donald Trump gave over the weekend. This was July. Third, in my mouth Rushmore on July. Fourth, Donald Trump gave I guess what were calling his big fourth of July speech and that's what I want to talk about next, so as bad as the July third speech at Mount Rushmore
as for Donald Trump, and certainly the July third speech contained way more verbal glitches, it was what were calling benzodiazepines trump. I previously referred to it as downer tromp. Sometimes we say Ambien Trump. The July fourth speech on the law of the White House was absolutely terrifying and Donald Trump actually taking some of the same ideas from July. Third about were fighting marxists here in the United States and and and actually building on them in an even more cartoonish and estonian way. Trumps big messages, recycled things from the previous night were. Essentially, we have agitators and leaders and anarchists and marxists, that we are fighting against. We are now in the process of defeating the radical left, the marxist- they anarchists, the dictators, the leaders and people who, in many
sciences have absolutely no clue what they are doing. What marxists are we fighting like? Please find me an actual marxist with any power whatsoever that Donald Trump is fighting against. I tweeted yesterday Corporate preparing for this segment can someone send me the name of a specific, powerful marxist. That Trump is fighting against, and someone sent me an article about some black lives matter. Person is a quote trained marxist. I had never heard of him
and with all due respect its not someone who is in any way wielding any amount of power that would be comparable to what Donald Trump has with the bully pulpit like. If that's the woman that trumpets fighting when he says we are fighting marxists, then its severe, really weird fight for trunk to actually have to wage. Now there were also know shortages of glitches. Here's Donald Trump struggling to say sweepings has swept swift, being sick, swift, completely incoherent. Again. This was tweet widely with people saying wait. People are saying: Biden has dementia. How do you explain this? Take a look. They delivered a swift and swept them. You know that sweeping, it was swift. Was sweeping like nobody's ever seen. Anything happen just Barely able to get the words out white knuckling, the lecture engaged in a battle to the death with his own tongue, all right
We really wacky. Now. Eventually, he got to the point in his force of fourth of July speech, where he just lists historical figures. He did this July. Third, not Rushmore already played that, for you here is Donald Trump. Just list listing historical figures on his July fourth speech and the crowd sort of actually does start clapping. I guess it was the most exciting thing that from said George, Washington, Thomas Jefferson, Betsy Ross. Alexander Hamilton, Benjamin Franklin John Adams Madison, Dolly Madison, the great Frederick Douglass, how weak or these applause lines right. Just
listing people for the crowd to clap, and it went on like that for a while. I dont want to subject you to the entire thing. Another really strange applause line was went from mentioned that the virus came from China. People just starting to clap at the mention of that fact, take a look but there and then. We got him by the virus that came from China and we ve made a lot of progress. Our strategy is moving along. Well now I don't I don't at this point. I want to spend a ton of time on the China stuff. The real message here is what a deranged fourth of July speech, but it is interesting how, in these China discussions it's never mentioned that China was the source of the virus for every we like if, if the virus originated in China, Spain was dealing with a virus that came from China. Italy dealt with a virus that came from China
Z and dealt with a virus that came from China. So the fact that it came from China doesn't change that just about every other country dealt with the virus better than the United States. Ok, Brazil is a disaster. India and Russia are are not doing well. I've heard of some small countries that are not doing well, but the fact that it came from China. How does that even bear applause, and, of course it has no bearing on the fact that from completely failed in terms of his dealing with the virus, but I want to focus tomb under the virus today, but again, Donald Trump during his fourth of July speech goes into the only reason we have so many cases is because we have so much testing likewise testing or no test where a new virus. But now we have tested almost forty million people. By so doing, we show cases,
ninety nine percent of which are totally harmless results that no other country can show, because no other country is testing that we have not in terms of the numbers or in terms of the quality. Remember we ve got a fact check it from says. Ninety. Nine percent of cases aren't harmful. That's not true seems that the death rate is one percent, but that doesn't mean ninety nine percent are harmful, many more people or ending up in the hospital. We still have questions about the long term health effect, even in people who do recover. So that's wrong are testing. Per capita is still just twenty. Sixth in the world, are deaths per capita are the ninth highest in the world out of more than two hundred
countries and territories that have cases. So the narrative continues to be completely untrue, but his followers love it and they fall for it and then sort of to wrap up the fourth of July speech. Just one more clip here is Trump saying that the media slanders him Wendy, accurately report that something he said was either racist or xenophobic, These are great heroes, also say a word to those in the media who falsely consistently labour their opponents as racists who condemn patriotic citizens, who offer a clear and truthful defence.
Of american unity, that's what our people are doing. We want a clear and faithful defence of american history, and we want pretty when you love all these false charges,. You not only slander me you not only slander the american people, but you sled generations of heroes who gave their lives for America. This is just hilariously, laughably nonsensical, when you call Trump out for doing something, racist, your slandering the troops that. Served in the military in all of american history is what trumpet saying when you point out trumpeted something racist. You are disrespecting people who serve
world WAR Ii and Vietnam like how it? How does that even compute and that's what Trump is trying to convince people of, and sadly it works? I tweeted yesterday that this will work on some of his followers. A bunch of people responded same day but you're wrong This will work on most of his followers from the rally at least it seemed that did resonate with people when the media calls trump racist. They are disrespecting the troops if you convince people of in or well we in fashion, it's almost more reminiscent of the testaments, and oh, my god, what is Margaret outwits? First book before the testaments does the handmaids they'll it's more reminiscent of the type of propaganda you see depicted by Margaret Atwood in a Handmaids tail and the testaments and its working on his followers, which is why, even though the poles look good for Joe Biden, I know it's gonna be an uphill battle. Going into November will have continued coverage of this on the day.
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welcome back to the David Pachmann Shop, so I wanted then, just a few minutes talking about the November twenty twenty election, but the context is really going to be corona virus, because there is a very interesting new study which found that if you break down Donald from approval rating in counties where corona virus is raging, verses in counties where it is not, as the county level analysis counties that are seeing the highest rates of corona virus explosion have seen dramatic drop in Donald from approval rating, and the reason this is important is that last week I did a segment pointing that you know when we think about that Biden versus Trump Debates, assuming that they happen, Biden pointing out that Trump is crass and make fun of people as a bully and grab him by the union wide and the racism and xenophobia and all that stuff. It hasn't worked so far, and I
and imagine that it's going to all of a sudden start working for Joe Biden. If that's the approach he decides to take, my instinct was we ve seen trumps approval come down because of three major issues over the last four months: number one, the handling of Corona Virus Number to the handling of the economy in the context of the failed handling of corona virus. A number three, the insane reaction to protest against police brutality, which included authoritarian anti speech, tendencies and threats to send in troops with even more force to protests that are against police brutality to begin with, that's where the focus should be an, and particularly the failure of leadership. Language aside, if Trump uses course, language buddy crushes the virus and does the right thing when it comes to
the test in the economy. Ok, who is going to care about the course language? And that's basically, my idea, and indeed Donald Trump, has seen the fastest declines in his approval rating in the five hundred counties, where there have been more than twenty eight corona virus deaths per hundred thousand residents. That sort of like the dividing line, Pew Research polling, shows that seventeen percent of the country, which approved of Trump in March, now disapprove so it's starting with just the slice that approved in March seventeen percent of that now disapproves, and this is a in those counties, and this is a massive drop and were not even near the end of the pandemic, and it's always tragic when it takes friends or family members getting sick or dying to wake up and have a realization. It's like the anti gay republican politician who
changes, their tune, typically his tune, but their tune. When someone they know comes out is gay great, they came to the right conclusion, but why did it take that you couldn't empathize? Well, it seems like that's at least part of, what's going on here, and there is a very reasonable debate over how much is trumps fall in terms of the cases and deaths. Obviously, people were going to die. You can say of the hundred and thirty two thousand deaths. A hundred and thirty two thousand are trumps fault, but you can put numbers on what was the cost of not developing it. Asking programme starting January twentieth away. South Korea did when we both got our first cases. On the same day, you can make estimates about what would a mask recommendation have done earlier on? What would stay at home have done earlier on? Hospitals could have maybe not been underwhelming. You you over well, you can put numbers to this, and so you know people who want to argue
Tromp doesn't have a hundred and thirty two thousand deaths on its hands. Of course he doesn't. I dont know anyone who is actually making that case law
we know is that there are specific policies and specific actions, including the roll out of the testing programme and many other things that could have been done differently, which would have saved lives, and it's not could have been done differently, but nobody did that many countries did South Korea's an example. There are many others remember that on February twenty six Donald from said, we have fifteen cases and fifteen is soon going to zero. That was February twenty six. We now have almost three million cases and a hundred and thirty two thousand deaths and cases are exploding in a huge swathes of this country. So that's the context, and it is again evidence that the pandemic and trumps reaction are dramatically hurting. His pull it now to zoom out a little bit. Bigger picture we continue to get national polling were Trump is down by double digits. We also are seeing real, clear politics. Polling averages in Wisconsin, Michigan, Pennsylvania and Florida were Biden is ahead by five or more points. That's
Insane Arizona, which has been a republican stronghold for a long time, Biden ahead by an average of three and a half and half the really crazy thing to think about is that if Donald Trump had just taken medical advice and gone the route of other countries, that chose chose science over ignorance and and action over politics. If he had controlled corona virus and supported, shut down, supported of an actual real testing programme, starting in January tracing initiatives Et Cetera, Et Cetera, he would have an all but guaranteed reelection in November. I am increasingly confident that that is that that that is how important this is ultimately going to be, and its also crazy to think that if Trump and pants had just caught the flu or a bad intestinal bug on January twentieth and been am I a for a month and just what medical doctors make decisions. We would also be
far better off, in other words, their presence was not only not positive. It was acutely negative in dealing with corona virus. The data is in the polls, and so what do we all have to do now exactly we don't believe any one of the poles. We imagine that our Individual votes could be the difference makers in our states, and every single one of us gets an absentee ballot or goes in votes or does whatever it is that we can do to ensure that Donald Trump is removed the November the polling looks good, ignore it pretend the polling looks terrible. Pretend every state is fifty five and that you could be the difference maker. The David Pachmann Shell, David Pachmann, Dad got the David Pachmann Show depends on the support of our view, wars and listeners and one way to keep us going is through patriarch, where you can pledges little as one dollar per month.
Or as much as you want at patriarch dot com. Slash David Pachmann show great perks and benefits as well, about him. The David tat Michel, David Pachmann, Dotcom. So one of the things I looked at in detail over the weekend. It is the latest perform or version of Joe Biden Tax Plan, and I wanna dig into it with you, because you know we ve talked about taxation. United States many many times, and I've talked about what I think would be the right path forward for the changes we need to make to how people are taxed and there's this assumption that Joe Biden would be extremely centrist in terms
his policy and in some cases, that's true and certainly on many issues. Joe Biden is is well to Bernie Sanders right, but I have to tell you that Joe Biden Tax plan, if made law and again with any candidate, we would what we would always say. If made law, everything is negotiated, no President get exactly what they want: Joe Biden Tax plan, maybe one of the most progressive from the standpoint of taxing millionaires and in particular, non working millionaires. Then any tax plan that we have seen in the modern political era, even including Dwight De Eisenhower, when we had that top marked marginal tax rate of you one percent an explained this in and I'm not at what
looking here is not to so division, but rather to point out that Joe Biden Tax plan is really quite solid and and would do a lot to tax the people that most should be taxed from the progressive perspective, a lot of times the debate over taxes over the last twenty years has been: should the richest pay, thirty, nine or thirty, six percent, thirty, nine point six or thirty, seven percent, like that's the debate, that is eighty percent of the debate. When we talk about rolling back the Bush tax cuts or rolling back that front, what were mostly talking about for a lot of people right, I think it's about five hundred thousand enough in income is: should the richest pay, thirty, six or thirty nine percent? This ignores capital gains. The signal
that we need higher and higher and bigger tax brackets, etc, etc, etc. Let's look now at some of the things that Joe Biden has in his tax. By now, I want to remind you, Dwight, the Eisenhower had these high top marginal tax rates of like ninety percent, but he had them at a time where there were a ton of mechanisms to avoid actually paying a high, effective tax rate. If you were very wealthy. So when you look back at the what matters is the effective tax rate. If you look back at the eyes and our era, even though you had those high marginal tax rates, the top one per cent of taxpayers in the fifties were only paying about forty two percent total of their income in taxes. So, as a result, the tax burden on high income. Households today is only slightly lower than what those same top one per cent paid in the nineteen fifties and what Joe Biden is proposing to do could raise taxes on the rich,
well beyond what they were under the eyes, Howard? Ninety one percent top marginal tax rate days because, as you can see, since the early nineties, the effective tax rate on the top one percent has bounced between thirty five and forty percent okay. So what will Joe Biden
tax plan do number one. Yes, it will undue those trump brackets that are similar to the George W Bush brackets. The top tax rate will go from thirty, seven percent to thirty nine point: six percent: it's the right move! It's not that big of a thing for a large swathes of Americans. The very important change that Biden would make is that earnings above four hundred thousand would be subject to these social security tax of twelve point. One percent. This is monstrous in terms of the total amount of money right now you stop paying Social Security tax said about a hundred and thirty seven thousand dollars in Come you paid on your first hundred and thirty seven k. Then it goes to zero. What Biden proposes is there's a donut hold their between a hundred and thirty seven and four hundred thousand. Were you don't pay that twelve percent tax? But then, when you get to four
eight thousand dollars in income and going all the way up. You pay twelve point one percent that is absolutely massive in terms of the amount of money that would collect and that money would be used to increase the social security benefits for the poor, so that would actually remove hundreds of thousands of seniors from poverty. It costs the middle class zero and it comes from people earning over four hundred thousand. Now you might correctly say, but but David hold on a second sir, as Donald Trump says of David. A lot of, though the rich are are the non working rich there. Earning wages, so they wouldn't be affected by that and you're completely correct. The other thing that Joe Biden stacks plan would do is remove the lower capital gains rate on dividends and the long term capital gains rate. If you make over one million dollars per year, Sir The non working millionaires would be paying in
a medically more money because they would have to pay their income tax rate rather than the capital gains raids on a whole bunch of dividends in capital gains. This could. Bull the tax rate for non working millionaires who get most of their income from investments. Also, very importantly, Biden is calling for a full repeal of stepped up basis. Now what did this requires a little bit of explanation, but what this means is, if someone donates margin that someone buys a thousand dollars The stock in the nineteen seventies they die and they give you a million dollars worth of stock. That's a huge gain right. It went from thousand to a million dollars is a cartoonish example. What the stepped up basis allows is that if the EU is the air with that stock, decide to sell it at a time when it's worth one point, one million dollars stepped up basis allows
two only pay gains on the gain from the time you inherited the stock to the time that you sell it. So, even though person who gave you this stock. The stock went from a thousand dollars to a million dollars in value when you got Was worth a million and it went up to one point: one euro We pay capital gains on that hundred thousand dollars from a million to one point, one that is a massive massive handout on which taxes could be levied, and it is now and it is estimated to be if a Joe Biden were to eliminate the stepped up basis, provision that would be more than or trillion dollars of attacks increase on the rich. So Joe Biden Tax plan actually does a lot of good. Now, let's be thorough, it doesn't do a lot of things that we should be looking at, that other candidates have proposed. Joe Biden has not proposed a financial transaction tax at a little slice which could be used to fund all sorts of important programmes. Joe Biden doesn't do that
Joe Biden has found or or Joe Biden Plan does not include higher tax brackets with higher interest rates. So right now, if you you would cap out around six hundred thousand dollars with thirty with binds tax splendid, be thirty, nine point: six percent you pay beyond six hundred thousand dollars in earnings weep.
Probably, should have a tax bracket at forty percent between six hundred thousand and a million in earnings. We should have a forty five percent tax bracket between one and three million, etc. Cetera Joe Biden doesn't do that. I think that we need that and the number three to the dismay of some people, Joe Biden Plan, doesn't include a wealth tax. Now I actually don't think a wealth tax whatever pass up so so, while it's an interesting idea, I'm not going crazy because Joe Biden doesn't include it, but if we look at the reality, if we look at the analysis that the tax policy centre has done of this plan, three quarters of the increases fall on the richest one percent and a whole bunch of that other twenty five percent
is on the top five percent. This is a very progressive tax plan compared to what we ve seen, certainly for the last fifty even a hundred years in the United States. I'm not saying Joe Biden is the greatest a period, but let's be honest and look at the tax plan for what it is. Speaking by the way of understanding math, I predicted this would happen and its hat We did a video a couple months ago, six weeks ago, called you're about to get slammed width garbage math and in TAT video. I made the case that, after these massive declines in the stock market in employment, job loss, consumer spending all of the stuff because of corona virus. At some point from this insane bottom, you would see,
to see a recovery and percentage wise. The recovery might look good, so you would start to see headlines like and we have air travel up a hundred and twenty percent- oh, my God hundred twenty percent will hold on. It was down ninety six per cent to only four percent of what it was when it goes up a hundred and twenty percent, it's up to nine percent of what it was. Let's not go crazy, but this is the type of math that they are going to use to trick. You- and I said it's going to happen with stocks its Happened with jobs and we are seeing it last week headlines four point: eight million jobs created remember, We lost forty six million jobs, four point: eight
in came back, Donald Trump went on a national bragging. Tour about this is the fastest and best job creation in the history of the United States will hold on a second. First of all, we got four million jobs back after losing forty six million number two. What did Trump due to actually get those jobs back? We would have way more jobs back had we had a competent federal response the corona virus, rather than what we experienced again bragging unemployment rate down to eleven percent. This is the biggest one month drop in unemployment in history, but hold on a second. We had unemployment of sixteen seventeen percent real unemployment. Arguably twenty percent your bragging now that we still have historically high unemployment, and they are doing the full garbage math treatment. Here's Donald Trump himself, just a few days ago,
I'd, say: you're gonna be added. Almost five million jobs in the month of June, shattering all expectations? I was what in this morning, and expectations were much lower than that. The stock market extremely well, which means to me jobs what it means jobs is the large monthly jobs gain in the history of our country, lemon rate fell by more than two percentage points down to just about eleven percent were down to the eleven set number. We started, number very much higher than that. As you know, we broke the record last month and we broke it again this month. Not even bigger way. This news, on top of maize, extraordinary jobs report, the largest job gain in history. Wild sounds, like things were, going
pretty well right away to. Second, we lost forty six million jobs before gaining four point: eight million jobs. Now I think this is a good time to remind you. I want a good economy. I dont want any jobs lost in order to hurt Donald Trump. Politically I dont want any corona virus cases or deaths to hurt Donald Trump politically. The reality is, of course, employment is he'll well below the pre pandemic level. We are obviously still in a huge huge hole. Fifteen million. And fewer jobs in June than in February. The unemployment rate is down most recently. From fourteen point, seven to eleven one at eleven point one. It is still higher than at any time since world war. Two and again there's a reporting error that continues to play these numbers. The real number is twelve point one. The data from before this data is from before the spikes that we ve seen in Arizona and text
and others Texas is sort of softening their opening, telling a lot of people that they should stay home. So, let's see where things look in another month or two, if the pandemic continues to explode and entered the realistic expectation is we would see slow improvement to the numbers? as we get closer to the end of twenty twenty and we are in all likelihood going to start twenty twenty one in a significantly worse position than we started twenty twenty, that's the reality. So do not fall for the garbage mouth. The echo, the you. What I think is missing from a lot of these analyses is the economy cannot fully recover mathematically until the pandemic is under control. What I mean by that is until people get off
their earnings back. They don't have the money to buy stuff at the rate at which they were previously. That's just not that simple, but if you have as much money as we did before, you can't spend as much money as you were. Spending before until hospitals can do not emergency procedures in full. The medical health care industry is not going to repeat recover. Now. I think, our trees, a complete, immoral joke. The reality is that it's a huge industry that makes a lot of money until people are going back to the doktor the way they were before for collective and non emergency procedures. The industry mathematically can not recur until dine in and dying out. Restaurants are fully open and safe. Restaurants can't recover its just math if people aren't going back and the capacity is diminished, the industry cannot recover its just simple arithmetic and we're not even started see the fall semester at colleges and universities. Depending on how that goes, you could see me.
Ass. If economic fall out in the twenty twenty one academic year there so do not be tricked. I want things to recover as quickly as possible, but until we actually have the pandemic under control from a straight up Nath perspective, it cannot happen. It simply cannot we have a voice. Mail number. That number is to one nine to David P. This may be one of the craziest Now that we ve ever received buckle up folks, a reckless watching all pair, he had a pair. Why don't you go back to Venezuela Railway? It here go back there and light fourteen year old daughter coming. Kick Europe only ass right right, I guess that's, it will listen. I don't it's. Possible that your fourteen year old daughter is very, very strong and could kick my ass. I dont know that I just haven't met her, I'm not sure about that. Now I've never been to Venezuela and I've, but completely
then the Chavez Maduro regime. We just have a new report out about the number of deaths at the hands of the venezuelan military venice- was not a place. I've ever been to. It is certainly not a place. I'm going to any time soon. So go back to Venezuela seems like a real question. Mark We ve got a great bonus show for you today. We will talk about no protests zones. We will talk about, the real dog human age multiplier and were also going to talk about Michael Oh and spotted era, Manhattan restaurant allegations swirling whether he needs to be sent back to prison. Because of that all of those stories, or on the bonus show remember that next Tuesday is the third David Pachmann Show Chess tournament and our big July one day, membership special get on the Muse letter with David packing dot com to get notified about both of those exciting events.
Transcript generated on 2020-09-14.