TYT Hour 1 July 30, 2018

In The Young Turks Hour 1 - On Demand by Waldo Peterson49 Comments

Cenk Uygur, Ana Kasparian. Trump admin mulls unilateral tax cut for wealthy. “Eye-popping” CEO payouts following tax cuts. Coca-Cola to raise prices after Trump’s tariffs. McConnell says wall funding will have to wait until after midterms. Disturbing Ron DeSantis political ad. Sacha Baron Cohen’s interview with Roy Moore.

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  2. RE: Government Shutdown

    Can Trump prolong a shutdown such that the newly elected congress can’t be seated in January 2019? i.e. can he indefinitely delay the new congress similar to what Mitch McConnell did with the Merrick Garland SCOTUS nomination?

  3. I wish you’d add the Republicans when you speak of the Tax Cuts; it’s not just Trump’s tax cuts.

    Also I wish you’d focus on the $6T tax cuts offset by $4.5T of cuts to services and bad future economic forecasts. The top 1% got 83% of the tax cuts. That is $5T (83% * $6T)

  4. I have an idea for a new show: Ana watching “Who is America?”
    I will enjoy watching Ana’s face going through all the shame inflicted to the people participating on the show.
    :)

  5. that new “tax cuts” that is coming is due to the lack of enough protest.
    there were no 1 million people surrounding Congress so from
    Trump’s point of view he thinks he can give more to the rich
    and get away with a 2nd tax cut.

  6. That is not ass kissing, that is cuckery at a legendary level.

    That woman and her cuck husband would cum just by being in the same room as Trump and would most definitely buy the viagra for Trump in order for him to start working.

  7. I have to push back against some of the commentary on buybacks. Buybacks do not ‘artificially’ increase the price of shares, as you frequently state. In fact, as a company buys back stock, the number of shares outstanding is decreased, so, all things being equal, if the total value of the company has not changed, the price PER share increases.

    In practice, market caps may increased due to the added buying pressure, but buybacks in and of themselves do not create any value. That said… you have missed some other angles:

    1) Buybacks are an alternative to paying dividends, except whereas dividends, when returned to investors, are TAXABLE, buybacks return the money to investors in the form of capital gains which can be carried tax free indefinitely, and are also taxed much more favourably in the end.

    2) Buybacks are the exact opposite of investing in growth/jobs, etc. Tax savings directed towards buying back shares do not create jobs, they funnel cash away from potentially productive uses into investor pockets… blame Milton Friedman, the ‘intellectual’ godfather of prioritizing shareholder above all other potential stakeholders.

    3) Companies that engage in these buybacks will underperform in the long term… they fail to invest in their business growth, prioritizing share price over the growth of the actual business, short sighted and a direct result of paiyng executives based on share price rather than other measures of business success.

    J

  8. They take a lot less federal tax out of my paycheck. the problem is I expect to get screwed when I file taxes and owe a bunch of federal tax next year. I bet a lot of middle class earners will be screwed next April.

  10. You can usually get the show in podcast form on different platforms, but it won’t be the full show. That is how I listened before I became a memeber.

  11. Trying to introduce a friend to TYT, but she can’t get the first hour. She keeps getting a message that she must join to watch it. Is the first hour not for everyone?

    1. I don’t think either of the hours are free for non-members. I think she’ll have to catch the livestream, or you can download a couple episodes and share them via USB to get her hooked (Files probably too large for email, unless you’re both tech savvy enough to SCP it). I know I originally signed up for membership because I couldn’t always catch the livestream, and so I could skip the breaks

    2. Best way is to send the youtube clips from the YouTube channel. Find the best/funniest story of the day, send them the youtube link, and hope they’ll watch several vids through autoplay.

  12. You don’t begrudge the rich?
    you just did a story about them stealing the wealth once again. Look, these people did NOT earn their money. Even the precious Bill Gates didn’t earn that money, he used other peoples intellectual properties.
    It is time that we call for 100% tax (@250k annually) or a maximum wage, with price controls until the market becomes true.

    1. Sorry but what your proposals are pure nonsense.

      How did that work out for the Soviet Union?

      How did that work out for Venezuela?

      As for the rich not deserving their wealth, who is the judge of that may I ask? One can easily flip it and say people on welfare don’t deserve welfare if they are able bodied people.

        1. Well tough luck, this is how the world runs and will always run.

          The best possible way to alleviate poor peoples suffering is to make the state strong and fill in the gaps. Making people united in poverty and misery solves nothing. Just look at the USSR.

          1. We did have that 91% top marginal tax rate in the 1950s. It’s not the same as a maximum wage, but arguably it did do something similar.

            1. No it didn’t. That marginal rate applied only to incomes over $200k back then (equivalent to $2.5 million today based on CPI calculation and $6.9 million based on PPP share of GDP).

              The actual effective tax rate for a person making $200k was around 80% but people easily got away with making more money on capital gains which was taxed at 25%. If you saw Mad Men when they sold their company they took stock options because they were not taxed on them or the dividends.

              And in any case the Poverty rates back then was still 40% so not all was rosy and well.

          2. Obviously, you’re not a progressive and that’s fine. But making statements like this: “Well tough luck, this is how the world runs and will always run.” Definitely makes you part of the problem.

      2. when you don’t have a legitimate argument, just say “venezuela”. I thought you were smarter than a breitbart troll. Guess not.

        1. Venezuela is Jimmyboy and Francesca’s wet dream scenario and is not far from the policy proposals above. Plus I gave a detailed answer so go read it again or continue to read this post.

          Venezuela has exceptional tax ratees on high earners leading to an exceptional tax avoidance (which is legal) and tax evasion (which is illegal) rates and a collapsed economy. France did 75% effective tax rate on anyone making above a million and it was a spectacular failure leading to crashing revenues, more deficits and tax exiles (2.5 million) who live 1 hour away by train in Luxembourg or Belgium and have free movement and pay no French taxes.

          Price controls were a disaster in the US in the 70s, were a disaster in every third world country with a balance of payments crisis and are a gigantic disaster in Venezuela where scarcity of even basic hygienic item like condoms or even toilet paper made headline news. In a country where monthly inflation is %47000 on an annualized basis (or 1516% between 00:00 and 24:00 of any given day) price changes daily but government prices are published either weekly or monthly making any profit from selling goods impossible in the open market which leads to barter economy, using foreign currency, all of which are black market activities:

          https://www.youtube.com/watch?v=1GviwAknP08

          (yeah Tyler Cowen is an extreme libertarian but he is right here)

          1. You focus on a select few policies and ignore the global context, as usual for this absurd and minimalist critique. You added more detail, but it’s still the moronic “socialism bad – see venezuela” propagandistic nonsense. The US could not do all of the same policies, because it’s not an economically destroyed colony that has been facing CIA coup attempts for decades. It will not face a global empire, the US empire, like Venezuela, that is constantly sabotaging their government. The US is not a petro-state that relies almost totally on oil exports, and those oil exports in Venezuela have been blocked by sanction, crippling the economy. The US will not have half of its wealth tied up in a sanctions regime, blocking desperately needed imports of food and medicine. It will not face a hostile client state next door that is highly funded by the empire trying to destroy it. When Chavez partially nationalized the oil to feed his people, it was because that was the one resource the US couldn’t use against them without hurting themselves. It was not sustainable, and an easy target, but it was all he had at the time, and it worked well while global oil prices were very high. Maduro has made many mistakes, but the main issue in Venezuela is the nonstop US clandestine war against it and the country being tied to international oil markets when Saudi is flooding the markets with crude.

            None of that is “socialism, so failure” which is all your dumb argument is.

            1. Everything that you talk about, except the coup attempt, was done after Maduro came to power and destroyed democracy after he lost the 2015 elections. Maduro is the main cause for what is happening in Venezuela right now not Chavez nor the US.

              Furthermore, if the US really needed to destroy a country Brazil would have been the better target. An ethnically diverse country that lifted 40 million people out of poverty using policies similar to what Chavez has done and a relatively corruption free judiciary that handled the impeachment crisis well (like Trump there were tapes implicating Roussef and Silva in corruption, difference is those tapes are public and more damning and authorized by the Silva appointed Supreme Court).

              Chavez and Silva were both Social Democrats, Maduro is a pure old school socialist who believes in “State Control of the Means of Production and a very small limited Free Market with Price and Wage controls”.

              What is between quotes is the classic socialist position on economics

      3. I don’t necessarily agree with that person’s policy prescriptions, but absolutely nothing they said had anything to do with Venezuela. Straw man? Is that you?

  13. Tax cuts are actually good for the economy, no matter who gets them. When you push establishment economics, the establishment always wins. Paul Krugman and people like him, make a lot of money promoting mainstream economics. In other words, he’s paid to make sure you don’t know how it REALLY works. Many people still believe that the federal government is constrained by tax revenue. It’s not. Republicans know this. Deficits are actually investments. Cheney accidentally admitted this. Also, government shutdowns are political theater. There’s no such thing. The debt ceiling is a parlor trick as well. Dems and repubs use them as a tool to cut shady deals the public doesn’t want. Notice how schumer doesn’t really fight. Progressives should concentrate all firepower on forcing congress to fund these programs.

    1. How does an extra $1.50 in my paycheck help the economy?
      How does giving the CEO an extra $100,000+ help the economy?

      Neither D or R, give a shit about deficits. They also don’t argue about how the deficits are made.
      More war and ballooning of the Defence Budget? All on the company credit card?
      D&Rs don’t care. Bail out banksters w/no restrictions on HOW they use the Golden Ticket?
      Yeah, sure, why not.

      Schumer’s not fighting? He NEVER FIGHTS. He’s a giant piece of shit.
      The DNC-Clintoncrats & Republicans are on the SAME TEAM!
      They both want to increase the wealth of the richest Americans and themselves as well!

      Progressives should demand certain programs be funded?
      HOW has THAT worked for the PAST 38 YEARS?!? It hasn’t.
      DNC-Clintoncrats do NOT give a SHIT about what Progressives or the voters want.
      The only way to stop them is to kick ALL the Clintoncrats & Rethugs out.
      Progressives have been demanding/asking for programs to funded forever. No one EVER listens!

      Progressives need to “focus their firepower” on getting Money out of politics, not continuing the same bullshit of asking for programs to be funded. For the past 38 years that has been a losing strategy.
      Until Money is out of politics, NOTHING will change.

      1. I understand your frustration. Some slammy, coming out of nowhere, trying to pull you to the left when, for years, you thought you were already the farthest left on the spectrum.

        1. Chelling ~ I never believed I was the furthest to the left.

          But, please explain when has demanding that programs be funded ever worked?
          When?

          If we can’t get money out of politics, the politicians will just nod their head in agreement, then completely ignore us and continue to do what they & their Corporate Owners want.

          1. “But, please explain when has demanding that programs be funded ever worked?
            When?”

            It’s never been tried. If every progressive (millions) were to march on Washington shouting “Fund these programs! Medicare for all! Federal jobs program! Free public college!” Congress would feel pressure they’ve never quite felt from progressives before. They’ve always had the cushion of us, fighting amongst each other over “tax dollars”. Remember, congress funds the private sector, not the other way around. People loose sight of that.

  14. I do agree that most corporation executives are just gonna pocket the trump tax cuts, however i would like to give credit to the CEO of B&G foods, who own taco bell, kfc, etc and i work for taco bell. the CEO of B&G Foods took all the money he saved in taxes due to the cuts, and evenly distributed the money among the workers. most are getting 75 dollar bonuses (doesnt seem like alot but there are millions of B&G employees)

  16. Nothing wrong with the overall conclusions Cenk and Ana draw about the tax cuts and market activity, but the way they try to explain is completely wrong. It totally undercuts the argument they are trying to make.

  17. What’s as astounding as SBC’s new show is he doesn’t break character and laugh at the absurdity of it all.

  18. 100 bucks when that baby grows up and sees that commercial, he will 1. Divorce his parents. 2. Become a progressive. And 3. Become a TYT member.

  19. In response to what Cenk said about the archives: Would it be possible to modify the website so that members could search the archives for specific hosts? You’ve had a lot of great guest hosts on the main show and I’d love to find more of the content they’ve contributed to the network. I don’t know how big of a task this would be to undertake but I think it could help members navigate the archives more effectively. Whether or not this is possible, thank you all so much for the work that you do to produce this incredible show.

  20. Ok before I review review the app I’m gonna pick something I really dislike about it… No chrome cast (casting) option to my screen have to keep using web browser when I’m home. Would love all in one solution like majority of video apps. But so smooth and clean can’t attack app yet, love seeing cenk tell us what to setup haha!

    1. Lol- I downloaded it over the weekend and was disappointed when I figured this out. I know through the chrome cast I can mirror my phone to the tv, but it’s easier if it is on the app/browser. So, I won’t use the app really until it has a chromecast, just because of convenience. Still happy to see an android option though!

  21. it has been answered a thousand times. some platforms wont allow u to have ur content on if u are swearing, so spreadin the word is more important that swearing… swearing still in old school and pg ..
    relax xeno, theres isnt a day that goes by that ur not complaining about everything. be happy. complaining about things doesnt make u any more insighteful or legitimate.

    1. It’s a shame this is the case, but I get why and support the decision. They definitely make up for it on Old School.

  22. I have to agree with Xenophrenia. Your delivery comes across as less genuine when we know how you expressed yourselves before the major investment, and what we see now is considerably different.

    1. I’ll always admit if/when I’m wrong and while “Xenophrenia” is repugnant I have to agree because Cenk said “prick” and “raw dog” during tonight’s (7/31) show, so if obvious euphemisms are okay, they can fuck right off as it’s hypocritical, at best.

  23. Yikes. You’re big mad. I don’t think that’s the best way to get a measured response sis. Just sayin.

    1. Xeno~ So there is plenty to go around in the comment section.

      To quote Carlin, Jimmy would say, “Shit, piss, fuck, cunt, cocksucker, motherfucker, and tits.”

      Interesting that some cable channels have lifted the ban on the word shit.
      Guess Comedy Central is more adult than YouTube or the airwaves.

      1. “Interesting that some cable channels have lifted the ban on the word shit.”
        It’s hilarious, though, for example, when not one outlaw biker on Sons of Anarchy says the word “fuck” in seven years.

    2. Because they’ve prioritized growing the show with UTube TV (and maybe other platforms) over keeping it real.

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