« Tucker Carlson Tonight

Tucker: America's elite thrive while small businesses wither away

2020-12-11 | 🔗
'Tucker Carlson Tonight' host looks at the condition of the US economy as long-term unemployment hits record levels
This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
Good evening and welcome to Tucker Carlson tonight, two thousand and twenty has been a tough year for a lot of Americans, but especially difficult for the experts who claim they analyze data for a living. A lot of those people have been exposed for what they are frauds. Think of pulling business used to seem like a legitimate job, then came the November elections. Elections pollsters around the country got it wrong: double digits in race, after race, pretty embarrassing, but not as embarrassing as the performance of our so called public health experts. They are supposed to be numbers. People too. They told you any public protest against their lockdowns had roughly a one hundred and fifty percent chance of killing the entire population. Meanwhile, they declared arson totally safe. That is basically epidemiology. They say, okay, if youre starting to get the
impression that dishonest people can easily manipulate data. To tell you any story, they want to tell you, you may be onto something consider the condition of our economy. The numbers out of Washington suggest its in great shape: stock prices, 401ks upscale, Homeupscalehome sales, try to buy an exercise bike or million dollar fishing boat. Good luck! In many cases they are sold out there, a lot more billionaires than there ever happen in this country. In fact, as a group billionaires have increased their wealth by thirty percent overall this year, thats by a total of eight dollars trillion in a single year, no precedent for that, at the same time, from the unemployment rate is falling. You hear that a lot so its all good, as Joe Biden likes to say we are building back better well. That is one way to look at it, but look deeper. That is not the whole story. America has a very different economy from the economy we used to have even just last year.
People at the very top are thriving. Many other Americans are withering away. Small businesses and restaurants, Americas backbone, are on the ropes because of the coronavirus pandemic. Limited foot traffic in lockdowns translate into one hundred and sixty four thousand businesses having to close at one point since the beginning of the pandemic. With sixty percent having to close permanently tens of thousands of independent businesses shut down for good entire sectors of the economy, wiped off the map. That is a lot of people out of work. So where are they? And why does the federal government tell us? The unemployment rate is down well heres, the simple answer: the official unemployment numbers out of Washington dont count unemployed people who have stopped looking for jobs, and there are a lot of those last month alone- another half million working age Americans who want a job quit trying to find a job. That is not surprising. There are ten million fewer jobs
available in this country than there were in February. That is when politicians decided to destroy countless small businesses in the name of slowing the spread, as a result of that. According to the Labor Department, from a long term, unemployment has hit record levels. Last month, three hundred and eighty five thousand more Americans reported being unemployed for longer than twenty seven weeks since September. That number has increased by more than one point: five million. So what is our governments solution to the disaster they created? Well, more money from the Federal Reserve Money printed out of nowhere and backed by nothing trillions of new dollars spent to fix a problem they created and four on the way. Soon now keep in mind. This is stimulus, money designed to help those hurt by the lockdowns and in many cases it did help and it will help. But in many other cases the money has gone to people with the right political opinion. Voter registration, nonprofit, run by the Reverend Raphael Warnock. The left wing preacher now
running for Senate in Georgia, raked in four hundred and eighty two thousand dollars in coronavirus bailout money. How did he do that? Dont? Ask a firm that happens to be coowned by Ilhan Omars husband got half a million dollars. Plant parenthood got eighty dollars million more abortions for everyone. A local opera got twenty five dollars million, then laid off employees. Anyway. Last week we spoke to a man called Dave. Morris Morris owns a restaurant in the midwest. He could have used some help. The government shutdown his business and now he is going under, but unfortunately for Dave Morris, he is not married to Ilhan Omar. He doesnt run abortion in black neighborhoods or invite Nancy Pelosi to the opera at the Kennedy center. So instead Dave Morris has been forced to operate illegally just to survive. Here is what he told us. I had some hope. They were talking a two point: trillion dollar stemless package to help the american people,
and when I look at maybe one hundred and twenty million families in this country, one hundred and twenty million households- and I figured you know I could give everybody- maybe ten thousand dollars every household. That is a lot of money. Instead, that money went all different directions to campaign donors. Special interest groups may be couple of museums and it didnt get what was supposed to go. I never got any of it and a small business owners like me, never got any of it. Thats our money thats our money. Well, it is but Heres the Good NEWS pretty soon it will be worth much. The truth is you, cant keep printing trillions of dollars without getting serious inflation. Serious inflation is guaranteed its a natural law. There is no getting around it. The people making these decisions know that perfectly well, but they want inflation thats, the secret. They want inflation. In fact, they need inflation. Why? Because theyve gotten rich from debt thats the real economy leverage is their entire business model. So for the finance class,
inflation is the only way out of all of that debt when money is worthless. You owe less meanwhile, hard assets like upscale real estate at Marthas Vineyard will be worth more, so inflation may crush you, but it will make these people the ones making the decisions Richard and everyone else will get the shaft. Who is everyone else? Well, regular wage earners, people living on fixed income from every middle class retiree in the country? In fact, anyone who bothered to live like a responsible person and save money. All of them will be in serious trouble when inflation arrives, thats, not speculation, its coming and anyone who is paying attention knows its coming. Oh, but thats. Just the beginning, Democrats retake the Senate in January, they have committed to passing something called the Heroes act. So who are these heroes? They plan to help not the thousands of small business owners whose lives they destroy? No. Instead, the law will help rich
people in the northeast who were hurt by the Trump Administration administrations last tax bill. The Heroes act would restore the full state and local tax deduction, reversing the twenty seventeen mob. According to the broking institution. Ninety six percent of the benefits from this would go to the top burners. Fifty percent would benefit the top one percent. Twenty five percent would benefit the top zero point. One percent. In other words, it would benefit democratic voters more for the democratic base. That is what this is, and it wont stop there. In October, the top Democrat in the: U Dot S Senate, Chuck Schumer, announced to support this idea. We believe that President Biden, if he becomes president, could eliminate student loan debt without Congress with flip of the pen that he has in power. We are proposing the first fifty thousand dollars of everyones total debt is automatically eliminated.
So student debt is a huge problem. The lack of benefit from going to a four year college is an even bigger problem. We pointed that out many times on this show, but consider this idea who is helped by what Chuck Schumer just said. Well its great news for people who got pointless masters degree in gender oppression, their slate will be wiped clean by Chuck, Schumer and magic of the Federal Reserve. They will be free to move forward on that coveted Phd in transgender equity studies. But what about everybody else? What about small business owners, who spend say fifty thousand dollars trying to keep their employees on payroll over the past nine months? Will chuck Schumer wipe their debt to clean? How about people with car loans or burdensome mortgages or anyone who is helping to pay for their daughters wedding? What about their debt? Sorry, they are out of luck, unlike the education establishment, people like that are not big democratic donors. According to one analysis, writing off student debt in the
way that Schumer proposes would disproportionately help the most privileged in America. I dot e democratic voters, but you already knew that here is another idea: why not make the people who benefited the most from the lockdown, the people who encouraged them from day one pay for the effects of those markdowns? Why wouldnt you assess? I dont know Amazon and Apple and Goldman Sachs and Google and Netflix and Walmart all the big winners in this pandemic. Why wouldnt you assess them a one time covid fee, take it out of their record profit and make them pay for the next bailout. Why are you paying for it? Jeff Bezos, for example, is now the richest man in the history of the world. Maybe he can share the load in a meaningful way. He is not sharing it with his employees and why we are at it. Why not make Harvard and Yale and Stanford and Princeton use their endowments to pay off some of the student debt they caused. There is no reason ordinary taxpayers should be on the hook for their spending.
Ordinary taxpayers have suffered enough. Here is a bottom line. The rich are getting richer. Everyone else is getting poorer. That is not a talking point, its true and measurable. Why is it a problem? Because if it continues, we are going to wind up with even more volatile society in which everybody hates each other and is consumed by MB and along the way capitalism itself will be discredited, and you dont want that its already happening. There are already a lot of socialists around the scum. Have you noticed that? Why is that its? Because the people in charge of our economy are discrediting our system? They are giving capitalism a bad name, because what they are participating in is not a market economy, a free open market economy, its a closed game run for their own benefit and their benefit alone long term. This is a disaster for all of us and not even so far in the future. In four years, for example,
Sandy Cortez will be eligible to run for president, so you may laugh at Sandy Cortez and you should. She is a vacuous idiot, not the rich girl Narcissus with an overheated twitter account, but that doesnt mean she could and win.
Transcript generated on 2020-12-16.