WEBVTT 1 00:00:00.680 --> 00:00:04.160 You're listening to KFI AM six forty wake Up Call 2 00:00:04.280 --> 00:00:08.679 with Me Amy King on demand on the iHeartRadio. 3 00:00:07.960 --> 00:00:14.279 App k f I and kost HD two Los Angeles, Orange. 4 00:00:14.000 --> 00:00:25.480 County and. 5 00:00:24.960 --> 00:00:25.320 Amy. 6 00:00:25.480 --> 00:00:36.679 Okay, this is your wake up call for Tuesday, September 7 00:00:36.719 --> 00:00:37.479 twenty fourth. 8 00:00:38.159 --> 00:00:40.719 It's five o'clock, straight up. Good morning. I'm Amy King. 9 00:00:40.759 --> 00:00:46.079 We're live everywhere on the iHeartRadio app. Appropriate to play 10 00:00:46.159 --> 00:00:49.159 that open this morning with our friend Todd. Light out 11 00:00:49.200 --> 00:00:52.920 at Dodgers Stadium because the Dodgers and the Padres go 12 00:00:53.000 --> 00:00:57.200 in toe to toe starting tonight. Producer ends given me 13 00:00:57.280 --> 00:01:00.600 stink eye because she's she's a Padres fan and the 14 00:01:00.640 --> 00:01:05.400 Dodgers need to win two two two games to clinch 15 00:01:05.439 --> 00:01:10.760 the division. Go Dodgers. Although I have to say I 16 00:01:10.840 --> 00:01:14.319 was just reading up on this. The Padres have been 17 00:01:14.400 --> 00:01:18.040 kind of kicking the Dodgers butts this year. They're like 18 00:01:18.560 --> 00:01:21.920 they've won. The Dodgers are three and seven against the 19 00:01:21.959 --> 00:01:26.599 Padres this season. So go Blue. Here's what's ahead on 20 00:01:26.719 --> 00:01:29.159 wake Up Call. Governor Newsom has signed a bill that 21 00:01:29.280 --> 00:01:32.920 requires school districts to restrict or band students from using 22 00:01:33.000 --> 00:01:36.159 cell phones at school. The governor says the state has 23 00:01:36.159 --> 00:01:41.239 the power to intervene against student and anxiety, depression, and 24 00:01:41.319 --> 00:01:46.480 mental health issues caused by cell phone use. President Biden 25 00:01:46.519 --> 00:01:50.239 has said to address the United Nations General Assembly today. 26 00:01:50.640 --> 00:01:53.599 Vice President Harris will not be attending the UN gathering, 27 00:01:53.640 --> 00:01:56.000 but it'll be meeting with world leaders this week, including 28 00:01:56.079 --> 00:01:59.879 Ukrainian President Volodomir Zelenski. We're going to check in with 29 00:02:00.000 --> 00:02:02.920 ABC's Karen Travers to find out more about what Biden's 30 00:02:02.959 --> 00:02:05.560 expected to focus on, and also what the Vice President 31 00:02:05.680 --> 00:02:09.520 is doing and not doing this week. Cargo volume at 32 00:02:09.560 --> 00:02:13.120 the Port of Long Beach is up twenty percent. Greenhouse 33 00:02:13.159 --> 00:02:17.560 gases have decreased by seventeen percent. The port's annual emissions 34 00:02:17.599 --> 00:02:21.639 inventory inventory shows diesel particulates were down by ninety two 35 00:02:21.639 --> 00:02:25.719 percent twenty twenty three. Other polluting chemicals also drastically reduced. 36 00:02:25.960 --> 00:02:28.000 The CEO of the Port of Long Beach said the 37 00:02:28.120 --> 00:02:32.479 ultimate goal is to be an emissions free port. Let's 38 00:02:32.479 --> 00:02:35.240 get started with some of the stories coming out of 39 00:02:35.240 --> 00:02:37.919 the KFI twenty four hour newsroom. A new law in 40 00:02:37.960 --> 00:02:40.919 California mandates schools ban the use of cell phones by 41 00:02:40.919 --> 00:02:43.680 students on campus. Alex Stone says the law will kick 42 00:02:43.719 --> 00:02:45.280 in July twenty twenty six. 43 00:02:45.360 --> 00:02:48.840 Study show test scores rise dramatically when mobile devices are 44 00:02:48.840 --> 00:02:52.199 limited on campuses, but some parents oppose the move, saying 45 00:02:52.240 --> 00:02:54.319 they want to have contact with their children. 46 00:02:54.479 --> 00:02:58.039 School districts, charter schools, and county offices of education have 47 00:02:58.120 --> 00:02:59.919 less than two years now to come up with poulis 48 00:03:00.280 --> 00:03:02.240 that limit or ban the use of cell phones by 49 00:03:02.319 --> 00:03:06.120 students at school. A community activist in South la is 50 00:03:06.199 --> 00:03:09.879 encouraging the community to help bust up seven eleven robberies. 51 00:03:09.960 --> 00:03:13.080 A seven eleven store in Pico Union attacked last Friday 52 00:03:13.159 --> 00:03:15.680 by dozens of young people on bikes, was the latest 53 00:03:15.719 --> 00:03:19.319 in a string of similar events. LA Public Policy Roundtable 54 00:03:19.400 --> 00:03:22.479 President Earl o'fari Hutchinson says neighbors need to be more 55 00:03:22.520 --> 00:03:23.639 active and involved. 56 00:03:23.639 --> 00:03:27.199 Oftenschim's people do not report what they see, they're watching, 57 00:03:27.400 --> 00:03:30.240 they observe, and it just falls under the raid ow school. 58 00:03:30.400 --> 00:03:31.439 That's not going to cut it. 59 00:03:31.560 --> 00:03:34.639 Hutchinson says he worries some seven eleven stores could close 60 00:03:34.680 --> 00:03:38.840 over thievery and vandalism, leaving some disadvantaged neighborhoods without access 61 00:03:38.879 --> 00:03:40.039 to groceries close by. 62 00:03:40.400 --> 00:03:42.080 Michael Monks KFI. 63 00:03:41.800 --> 00:03:46.360 News Lebanon's Health Ministries has more than five hundred and 64 00:03:46.360 --> 00:03:49.240 fifty people have been killed in two days of Israeli 65 00:03:49.280 --> 00:03:54.280 airstrikes targeting the militant group Hezbolah. Israel's military has been 66 00:03:54.319 --> 00:03:58.120 warning people in southern and eastern Lebanon to leave areas 67 00:03:58.159 --> 00:04:02.319 where Hesbola is operating, but ABC's Ian panel says Hesbolah 68 00:04:02.360 --> 00:04:04.919 has a lot of firepower and support, meaning it can 69 00:04:04.960 --> 00:04:06.120 do damage to Israel. 70 00:04:06.240 --> 00:04:09.479 According to the organization, they're capable of hitting almost anywhere 71 00:04:09.520 --> 00:04:11.479 in Israel and we haven't seen even the least of 72 00:04:11.520 --> 00:04:14.759 their firepower yet. Israel's invasions and wars in the past 73 00:04:14.840 --> 00:04:18.560 ultimately didn't make the country safe or damish has Belah. 74 00:04:18.720 --> 00:04:22.560 Hezbelah has vowed to continue its rocket, missile and drone 75 00:04:22.600 --> 00:04:26.279 strikes on Israel in solidarity with the Palestinians and Hamas 76 00:04:26.279 --> 00:04:29.120 in Gaza. Boeing says it has made its best and 77 00:04:29.160 --> 00:04:33.480 final offer to its thirty thousand striking workers. The workers 78 00:04:33.480 --> 00:04:36.639 who build Boeing's commercial planes want a forty percent pay 79 00:04:36.759 --> 00:04:41.519 increase and they want pensions reinstated. Boeing says it's offering 80 00:04:41.560 --> 00:04:45.079 a thirty percent pay increases over four years. It will 81 00:04:45.120 --> 00:04:48.600 reinstate bonuses and more money for four oh one case, 82 00:04:48.639 --> 00:04:52.519 but no pension. Boeing's seven thirty seven, seven sixty seven 83 00:04:52.639 --> 00:04:55.720 and Triple seven factories have gone dark with the workers 84 00:04:55.759 --> 00:04:59.600 on strike. Right now, let's say good morning to ABC's 85 00:04:59.759 --> 00:05:03.240 care Baron Travers Karen. For someone running for president, Vice 86 00:05:03.279 --> 00:05:07.040 President Harris is being pretty quiet, not really putting herself 87 00:05:07.079 --> 00:05:08.240 in the spotlight this week. 88 00:05:08.480 --> 00:05:10.560 Yeah, it was interesting like for the start of the 89 00:05:10.560 --> 00:05:13.680 week to not see as much of her, and you 90 00:05:13.720 --> 00:05:16.920 guys will see her later this week. She's heading out west. 91 00:05:16.959 --> 00:05:19.160 But you know, just the comparison, so we had the 92 00:05:19.199 --> 00:05:22.519 former president Donald Trump was in Pennsylvania yesterday. He's in 93 00:05:22.560 --> 00:05:27.000 Georgia today, North Carolina Wednesday, Michigan Friday. Saturday, he will 94 00:05:27.040 --> 00:05:30.920 be in Wisconsin. The vice president schedule looks a little different. 95 00:05:31.000 --> 00:05:33.319 She's going to be in Pennsylvania tomorrow for a speech 96 00:05:33.319 --> 00:05:35.839 on the economy, and then heads out west for an 97 00:05:35.879 --> 00:05:39.639 event in Arizona Friday, some fundraising we expect in California 98 00:05:39.680 --> 00:05:43.160 on Saturday, and then another big event in Las Vegas 99 00:05:43.199 --> 00:05:45.920 on Sunday. So maybe more of like a backloading for 100 00:05:45.959 --> 00:05:48.759 this week. But you know, today Mark's officially six weeks 101 00:05:48.759 --> 00:05:51.639 out until election day, so we certainly feel like going 102 00:05:51.680 --> 00:05:53.920 to start seeing a major increase for all. 103 00:05:53.800 --> 00:05:54.639 Of their schedules. 104 00:05:55.199 --> 00:05:56.680 I would have thought at this point they'd be doing 105 00:05:56.759 --> 00:06:01.120 multiple events each day in the battleground states. This week, though, 106 00:06:01.199 --> 00:06:04.040 is interesting for her because of the foreign policy focus. 107 00:06:04.160 --> 00:06:07.040 It's the UN General Assembly in New York. You had 108 00:06:07.120 --> 00:06:09.560 the president of the UAE at the White House yesterday, 109 00:06:09.720 --> 00:06:13.480 she met with him separately. Thursday, President Zelensky Ukraine is 110 00:06:13.480 --> 00:06:15.879 coming to Washington. He will meet at the White House 111 00:06:15.879 --> 00:06:18.319 with President Biden and have a separate meeting with Vice 112 00:06:18.319 --> 00:06:21.759 President Harris. So that keeps her in DC in between 113 00:06:21.800 --> 00:06:24.600 the battleground travel. But you know, it is notable to 114 00:06:24.639 --> 00:06:27.600 see the difference. Trump's in five battle ground states this week, 115 00:06:27.680 --> 00:06:31.000 She's in three. The campaign says there's no broader strategy 116 00:06:31.040 --> 00:06:33.199 to a lighter schedule. They're saying, don't read too much 117 00:06:33.199 --> 00:06:36.079 into it. More isn't always more, and that they're very 118 00:06:36.120 --> 00:06:38.800 strategic about where she's going and what she's doing with 119 00:06:38.879 --> 00:06:39.319 her time. 120 00:06:40.079 --> 00:06:41.839 But I want to read a little more into it, 121 00:06:42.680 --> 00:06:46.160 because we do. It still has been when did she 122 00:06:46.199 --> 00:06:49.639 announce two months ago? She still hasn't sat down. I 123 00:06:49.680 --> 00:06:52.319 mean with Oprah Winfrey, that doesn't count. That's not a 124 00:06:52.360 --> 00:06:54.800 news interview. And she did like one kind of she's 125 00:06:54.839 --> 00:06:59.360 a supporter of HER's yeah, right, but she's not sitting down. 126 00:06:59.399 --> 00:07:02.480 She hasn't done any press conferences. We still don't know 127 00:07:02.800 --> 00:07:06.759 exactly where she stands on stuff, and I just it'll 128 00:07:06.800 --> 00:07:08.800 be interesting to see. I mean, are people just going 129 00:07:08.879 --> 00:07:10.920 to say, well, we like her better than Biden, and 130 00:07:10.920 --> 00:07:12.680 we like her better than Trump, so we're going to 131 00:07:12.800 --> 00:07:15.360 vote for her even though we have no idea like 132 00:07:15.439 --> 00:07:16.759 what she would do as president. 133 00:07:17.160 --> 00:07:19.000 You know, I think the campaign would push back on that. 134 00:07:19.240 --> 00:07:21.120 And this is not me saying this is like what 135 00:07:21.160 --> 00:07:23.000 the campaign would say is that you know, she is 136 00:07:23.000 --> 00:07:26.519 out there, she's doing speeches, she laid out policy proposals 137 00:07:26.519 --> 00:07:28.959 in the debate. Things are on her website of what 138 00:07:29.079 --> 00:07:31.680 she would do if she were elected. I do think 139 00:07:31.720 --> 00:07:35.600 on the interview issue, she is not doing national interviews. 140 00:07:35.639 --> 00:07:37.480 She did the one with CNN, but she has not 141 00:07:37.519 --> 00:07:40.360 done a press conference with you know, the traveling press 142 00:07:40.360 --> 00:07:43.800 that's with her or the people in Washington. She's doing 143 00:07:43.839 --> 00:07:47.199 local interviews. She's doing radio interviews, she's doing local TV, 144 00:07:47.399 --> 00:07:48.399 she's doing a podcast. 145 00:07:48.439 --> 00:07:48.920 This week. 146 00:07:49.279 --> 00:07:53.040 And that's not a surprising strategy when you look at 147 00:07:53.079 --> 00:07:56.240 how this race is being won or lost. Right now, 148 00:07:56.360 --> 00:07:59.519 it's seven battleground states and they're trying to focus on 149 00:07:59.639 --> 00:08:02.519 those voters, and the campaign, you know, and talking with 150 00:08:02.560 --> 00:08:06.319 strategists inside and outside the campaign will say like, that's 151 00:08:06.360 --> 00:08:08.879 the target that they need to reach those voters in 152 00:08:08.879 --> 00:08:12.040 those states, a certain cohort of those voters, and they 153 00:08:12.079 --> 00:08:14.279 feel that the bang for the buck is by doing 154 00:08:14.360 --> 00:08:17.319 that type of media that doesn't always sit well with 155 00:08:17.399 --> 00:08:20.639 the national President's in Washington, DC, who you know is 156 00:08:20.680 --> 00:08:24.279 covering the campaign writ large and wants to do you know, 157 00:08:24.439 --> 00:08:27.399 big national interviews or a big press conference, but you know, 158 00:08:27.519 --> 00:08:31.360 they feel targeted media right now, given the condensed schedule 159 00:08:31.399 --> 00:08:33.360 that she's on from when she got into the race, 160 00:08:33.720 --> 00:08:36.000 is more effective for their strategy at this point. 161 00:08:36.159 --> 00:08:38.120 Okay, and then speaking of strategy, I know we only 162 00:08:38.120 --> 00:08:40.559 have you for a couple more seconds. But she's meeting 163 00:08:40.679 --> 00:08:44.240 separately with Zelenski and those kinds of things as opposed 164 00:08:44.279 --> 00:08:46.519 to meeting with the president. Do they say why she's 165 00:08:46.600 --> 00:08:49.720 because she's the sitting vice president. Do they say why 166 00:08:49.799 --> 00:08:53.200 she's meeting separately from Biden with these world leaders. 167 00:08:53.480 --> 00:08:56.039 They've done this before, even before she was a candidate, 168 00:08:56.120 --> 00:08:58.440 where she's held her own meetings. It gives her a 169 00:08:58.519 --> 00:09:02.120 chance to do her own forum policy, you know, conversations, 170 00:09:02.679 --> 00:09:04.720 and you know, I think for the President and like 171 00:09:04.879 --> 00:09:07.360 he likes to do one on one meetings, she's also 172 00:09:07.480 --> 00:09:10.759 in his meetings quite often too. I don't think there's 173 00:09:10.759 --> 00:09:14.639 anything really like to read into this. It also gives 174 00:09:14.679 --> 00:09:17.519 her a chance to have a photoop with a significant 175 00:09:17.519 --> 00:09:18.120 world leader. 176 00:09:18.320 --> 00:09:21.000 Yeah, all right, Karen Travers, thank you so much. Appreciate 177 00:09:21.039 --> 00:09:23.799 your information as always, have a great day, all right, 178 00:09:23.799 --> 00:09:25.039 talk to you soon. Let's get back to some of 179 00:09:25.039 --> 00:09:27.440 the stories coming out of the KFI twenty four hour newsroom. 180 00:09:27.559 --> 00:09:30.879 Students and Daniel Pearl Magnet High School in the Valley 181 00:09:30.919 --> 00:09:35.000 have walked to protest and La School district decision to 182 00:09:35.120 --> 00:09:36.759 displace two of its teachers. 183 00:09:36.919 --> 00:09:39.600 Students walked off the campus and marched to the district's 184 00:09:39.639 --> 00:09:42.240 north offices, asking the district to rehire their music and 185 00:09:42.279 --> 00:09:44.039 Spanish teachers who have lost their. 186 00:09:43.919 --> 00:09:45.600 Positions because of under enrollment. 187 00:09:46.039 --> 00:09:50.120 Senior Genesis Figueroa says music is fundamental to the students. 188 00:09:50.159 --> 00:09:53.159 That department is shutting down because we don't have the 189 00:09:53.200 --> 00:09:55.799 funds to hire a new teacher. 190 00:09:56.080 --> 00:09:59.639 Enrollment overall dropped by thirty two students since last year. 191 00:10:00.039 --> 00:10:03.320 Students started marching yesterday at three pm, asking the district 192 00:10:03.320 --> 00:10:04.879 to reconsider its decision. 193 00:10:05.240 --> 00:10:08.720 Chris Adler kf I News. Two people have interested in 194 00:10:08.799 --> 00:10:13.919 Riverside County for shoplifting at Target. It was caught on camera. 195 00:10:14.120 --> 00:10:16.480 Muri at A PD shared video of one of the 196 00:10:16.559 --> 00:10:19.759 alleged thieves filling up a shopping cart last week while 197 00:10:19.799 --> 00:10:22.440 the other waited in the parking lot. Police called the 198 00:10:22.480 --> 00:10:24.919 pair dumb and dummer in a social media post and 199 00:10:25.000 --> 00:10:27.720 said they didn't know officers were already on the way 200 00:10:27.759 --> 00:10:30.600 to the scene. Police say they found stolen stuff, plus 201 00:10:30.720 --> 00:10:34.080 meth and pipes in the car. Both of them were arrested. 202 00:10:34.559 --> 00:10:38.960 It's time Exon Mobile pays the price or it's the seed. 203 00:10:40.080 --> 00:10:44.919 California has sued Exon Mobile, claiming the company advertising recycling 204 00:10:45.639 --> 00:10:49.320 knowing that most plastics are not being recycled. Attorney General 205 00:10:49.399 --> 00:10:52.519 Rob Bonta says the idea was to make Americans like 206 00:10:52.639 --> 00:10:55.679 plastic and buy blue bins when it's not good for 207 00:10:55.720 --> 00:11:00.000 the environment. The company has propped up sham solutions manipulation 208 00:11:00.279 --> 00:11:04.039 the public. The lawsuit claims ninety two percent of plastic 209 00:11:04.080 --> 00:11:09.279 waste processed through exonmobiles so called advanced recycling technology, does 210 00:11:09.320 --> 00:11:13.840 not become recycled plastic. The pseudo ledges plastics produced through 211 00:11:13.840 --> 00:11:16.600 the program only make up less than one percent of 212 00:11:16.679 --> 00:11:21.919 exonmobiles total plastic production capacity. LA County has seen the 213 00:11:21.960 --> 00:11:25.039 number of mpox infections more than double over a four 214 00:11:25.080 --> 00:11:27.879 week period. The County Department of Public Health says there 215 00:11:27.879 --> 00:11:30.159 were fifty two cases in the past four weeks. There 216 00:11:30.159 --> 00:11:33.240 were twenty four in the four weeks before that. Seventy 217 00:11:33.279 --> 00:11:37.000 percent of the cases are in unvaccinated people. Health officials 218 00:11:37.039 --> 00:11:39.440 say people in high risk categories in the gay and 219 00:11:39.480 --> 00:11:43.960 transgender communities need to get vaccinated. Most gen z ers 220 00:11:44.000 --> 00:11:46.679 say they're underpaid and they're feeling the squeeze. 221 00:11:46.720 --> 00:11:49.159 I think gen Z is feeling it in a way 222 00:11:49.279 --> 00:11:53.120 that other generations that this age probably didn't. 223 00:11:53.960 --> 00:11:58.159 Resumed templates dot Com are actually not resume Resume Templates 224 00:11:58.200 --> 00:12:02.559 dot Com Chief career strategists Julie Toothacre says eighty seven 225 00:12:02.639 --> 00:12:05.639 percent of gen Zers feel like they're underpaid, especially with 226 00:12:05.679 --> 00:12:08.279 the rising cost of living. She says gen zers with 227 00:12:08.320 --> 00:12:11.360 a college degree should earn about fifty to sixty thousand dollars, 228 00:12:11.360 --> 00:12:14.440 but in large cities, anything under one hundred grand is 229 00:12:14.639 --> 00:12:16.600 likely to feel like it's not enough. 230 00:12:17.200 --> 00:12:17.679 I feel you. 231 00:12:18.440 --> 00:12:20.879 CalFire says it expects to have the fire burning in 232 00:12:21.000 --> 00:12:23.639 Orange and Riverside Counties that has destroyed more than one 233 00:12:23.679 --> 00:12:27.080 hundred and sixty homes and other buildings fully surrounded by today. 234 00:12:27.480 --> 00:12:31.039 Orange County Fire Authority Captain Steve concialtisays they've been taking 235 00:12:31.039 --> 00:12:33.600 advantage of cooler temperatures to get lines around the fire 236 00:12:33.679 --> 00:12:38.000 that has been burning for more than two weeks. Tropical 237 00:12:38.080 --> 00:12:40.919 Storm Helene is gaining strength in the western Caribbean and 238 00:12:41.279 --> 00:12:43.759 is expected to become a hurricane before it makes landfall. 239 00:12:44.120 --> 00:12:46.879 Forecasters say the storm could hit the Florida Panhandle as 240 00:12:46.919 --> 00:12:50.919 a Category three hurricane on Thursday. Governor Rond De Santis 241 00:12:50.919 --> 00:12:53.240 has already declared a state of emergency for forty one 242 00:12:53.320 --> 00:12:56.279 counties along the coast and inland as the storm approaches. 243 00:12:56.840 --> 00:12:58.960 The lights on Broadway are going to be dimmed to 244 00:12:59.039 --> 00:13:01.840 honor the life of two time Tony Award winner James 245 00:13:01.879 --> 00:13:04.799 Earl Jones. The lights will go dark on Thursday night 246 00:13:05.240 --> 00:13:08.519 Jones got his start on Broadway as an understudy in 247 00:13:08.799 --> 00:13:12.519 The Egghead in nineteen fifty seven. James Earl Jones died 248 00:13:12.519 --> 00:13:16.440 earlier this month at the age of ninety three, at 249 00:13:16.480 --> 00:13:20.200 six oh five. It it's handled on the news. Exxon 250 00:13:20.559 --> 00:13:24.279 is getting sued by the state of California. Let's say 251 00:13:24.279 --> 00:13:26.840 good morning to the host of How to Money right 252 00:13:26.840 --> 00:13:31.080 here on KFI. It's Joel Larsgard. Joel, I got to 253 00:13:31.200 --> 00:13:34.279 start this by saying that we've been talking about interest 254 00:13:34.360 --> 00:13:38.080 rates and how they're pretty crazy high. I just got 255 00:13:38.320 --> 00:13:42.919 a statement or a notification from my Macy's America American 256 00:13:42.919 --> 00:13:50.000 Express card the APR as a last month thirty four 257 00:13:50.039 --> 00:13:53.960 point four to nine percent. Oh gosh, thirty four point 258 00:13:54.000 --> 00:13:58.039 four nine percent. Yeah, that's like those payday loans that 259 00:13:58.080 --> 00:14:01.679 are that. Didn't they get busted for charging those just 260 00:14:01.799 --> 00:14:02.879 crazy high rates. 261 00:14:03.159 --> 00:14:05.399 Yeah, they're legal in so many states to charge over 262 00:14:05.440 --> 00:14:08.240 a certain interest rate percentage. And you're right, these credit 263 00:14:08.240 --> 00:14:10.720 card interest rates have gone gone through the roof, and 264 00:14:11.000 --> 00:14:13.120 I do think this rate cut will lead to I mean, 265 00:14:13.159 --> 00:14:15.039 I've already gotten to notice from my save mus account 266 00:14:15.039 --> 00:14:17.879 saying hey, listen, starting today on the twentieth right after 267 00:14:17.879 --> 00:14:20.600 the announcement you're what we're paying you goes down by 268 00:14:20.639 --> 00:14:23.240 half percent, and I think we're going to see credit 269 00:14:23.279 --> 00:14:25.480 card interest rates come down, But think about it, they're 270 00:14:25.559 --> 00:14:27.600 so high in the stratosphere. It's not like it's going 271 00:14:27.639 --> 00:14:29.519 to make a massive difference for people who have credit 272 00:14:29.519 --> 00:14:32.879 card debts. So it's despite this rate cut, and despite 273 00:14:33.000 --> 00:14:36.200 credit card interest rates going down a little bit, it 274 00:14:36.320 --> 00:14:38.759 still makes sense to pay off your cards as quickly 275 00:14:38.799 --> 00:14:39.840 as humanly possible. 276 00:14:40.440 --> 00:14:44.159 Yeah, especially because I don't I don't pay attention that much. 277 00:14:44.279 --> 00:14:47.720 I should technically have decent rates because I have really 278 00:14:47.759 --> 00:14:50.799 good credit. But I got that note and I was like, 279 00:14:50.919 --> 00:14:52.519 you've got to be kidding me. 280 00:14:52.720 --> 00:14:54.480 Well, you know what I want. 281 00:14:54.600 --> 00:14:57.080 What I care about is actually, in some ways, I 282 00:14:57.120 --> 00:14:59.120 don't care about the interest rate on credit cards at all, 283 00:14:59.159 --> 00:15:01.240 because I want people to use them, and granted only 284 00:15:01.279 --> 00:15:03.799 half of Americans do, but I want people to use 285 00:15:03.840 --> 00:15:06.879 them as a method of payment that they pay off 286 00:15:06.919 --> 00:15:08.279 on time and in full at the end of the month. 287 00:15:08.360 --> 00:15:11.480 So essentially, if that's the case, the interest rate doesn't 288 00:15:11.480 --> 00:15:13.159 matter to you. It doesn't matter if it's five percent 289 00:15:13.279 --> 00:15:16.000 or if it's fifty percent, because you're not paying the 290 00:15:16.000 --> 00:15:20.840 banks any money, and so yeah, definitely taken into consideration. 291 00:15:20.960 --> 00:15:23.000 Make sure you're not on the bad side of that, 292 00:15:23.039 --> 00:15:26.000 paying those banks, paying the credit card companies interest every 293 00:15:26.039 --> 00:15:29.559 single month. But if that's the case, then whatever that 294 00:15:30.600 --> 00:15:33.440 number says on your statement, it shouldn't matter to you. 295 00:15:33.519 --> 00:15:36.240 Hopefully well, and I do pay off my Macy's every 296 00:15:36.240 --> 00:15:38.799 time I charge on my Macy's. So I just got 297 00:15:38.799 --> 00:15:41.159 to not forget to pay it off because otherwise you're 298 00:15:41.279 --> 00:15:44.440 just going to get slammed. And okay, so let's speak 299 00:15:44.440 --> 00:15:47.720 about That kind of leads us into our topic for today, 300 00:15:48.320 --> 00:15:51.240 which is some of the things that the presidential candidates 301 00:15:51.240 --> 00:15:54.440 are trying to roll out as campaign promises, and one 302 00:15:54.480 --> 00:15:58.480 of them is that Trump is saying that he wants 303 00:15:58.519 --> 00:16:00.919 to cap credit card interests straight to ten percent. 304 00:16:01.759 --> 00:16:06.480 It sounds nice, it does, but it's nice well, especially 305 00:16:06.519 --> 00:16:07.960 if you are one of those people who has a 306 00:16:08.000 --> 00:16:09.919 lot of credit card debt and you're sitting there and 307 00:16:09.919 --> 00:16:12.080 you're looking at the statement, You're like, this is twenty 308 00:16:12.120 --> 00:16:14.279 six percent. When am I and how am I ever 309 00:16:14.279 --> 00:16:17.559 going to pay this off? And I completely understand where 310 00:16:17.600 --> 00:16:21.279 you're like, how you're feeling, and how that impacts your finances. 311 00:16:21.559 --> 00:16:26.519 The problem is a lot many of the economic proposals 312 00:16:26.519 --> 00:16:30.440 being floated by both candidates are just not good for 313 00:16:30.480 --> 00:16:33.960 the economy. And maybe they're good for a particular person 314 00:16:34.159 --> 00:16:37.840 in a specific scenario, but overall they're just bad from 315 00:16:37.840 --> 00:16:41.399 an economic standpoint. So there's actually a poll that just 316 00:16:41.440 --> 00:16:45.639 came out about how ordinary people feel about the economic 317 00:16:45.679 --> 00:16:50.080 proposals from both candidates, and then what economists think about that. 318 00:16:50.720 --> 00:16:53.200 There's like, for instance, the proposal to eliminate taxes on 319 00:16:53.240 --> 00:16:56.279 tips for service workers, and that was floated by Trump initially, 320 00:16:56.320 --> 00:16:59.240 and then Kamala Harris said, yeah, that sounds good. That's 321 00:16:59.279 --> 00:17:02.120 gonna be on my a agenda too. Seventy nine percent 322 00:17:02.159 --> 00:17:04.519 of ordinary people say that's a good thing. Ten percent 323 00:17:04.519 --> 00:17:08.359 of economists say that's a good thing. Okay, there's yeah, okay. So, 324 00:17:08.680 --> 00:17:11.720 because there's all these ways in which you can tax 325 00:17:11.839 --> 00:17:16.119 income differently, and if you start to segment out little pieces, 326 00:17:16.319 --> 00:17:19.240 say okay, well, if it's tips, then we're not going 327 00:17:19.279 --> 00:17:21.799 to tax that. Think about all the ways companies are 328 00:17:21.839 --> 00:17:25.720 going to try and call certain wages tips for the 329 00:17:25.720 --> 00:17:30.440 benefit employers. It creates like false incentives for companies and 330 00:17:30.480 --> 00:17:33.480 for individuals to report certain income as tip based income. 331 00:17:33.519 --> 00:17:35.799 Think if you're like a sub stack writer, right, and 332 00:17:36.039 --> 00:17:38.000 you make money that way, and you can say, well, no, 333 00:17:38.119 --> 00:17:39.880 those are tips. People pay me ten bucks a month, 334 00:17:39.880 --> 00:17:41.920 and I'm going to consider that tips. That's not wages. 335 00:17:42.200 --> 00:17:45.920 So it just creates this interesting dichotomy that forces people 336 00:17:45.960 --> 00:17:48.759 to try and report wages in a certain way. And 337 00:17:48.839 --> 00:17:51.599 so I think what's intended to kind of help people 338 00:17:51.599 --> 00:17:54.559 maybe in the service industry ends up becoming this nightmare 339 00:17:54.559 --> 00:17:58.440 from IRS tax perspective. There's so many other proposals, Like, honestly, 340 00:17:58.720 --> 00:18:03.920 I've never seen a more bipartisan awfulness in the economic space. 341 00:18:04.359 --> 00:18:07.599 What we're experiencing this year, Like it truly is red 342 00:18:07.640 --> 00:18:11.119 and blue not knowing up from down when it comes 343 00:18:11.119 --> 00:18:12.799 to when it comes to economic policy. 344 00:18:12.960 --> 00:18:14.880 Okay, so the other thing that I really want to 345 00:18:14.880 --> 00:18:25.440 talk about is the unrealized gains on capital. 346 00:18:23.599 --> 00:18:24.839 Unrealized capital gains tax. 347 00:18:24.960 --> 00:18:27.000 Yeah, that's what I'm trying to say exactly. I've been 348 00:18:27.039 --> 00:18:28.559 saying it a lot. Now I can't get it out 349 00:18:28.599 --> 00:18:32.160 of my mouth because so I got to understand this, 350 00:18:32.359 --> 00:18:36.319 because I keep saying they can't possibly be trying to 351 00:18:36.599 --> 00:18:39.680 get this through, but apparently they are. Then this is 352 00:18:40.079 --> 00:18:45.079 part of Harris's plan is to tax unrealized capital gains. 353 00:18:45.119 --> 00:18:46.720 What does that mean and how would it happen? 354 00:18:47.119 --> 00:18:50.279 Well, like I said, there's so many bad economic proposals 355 00:18:50.359 --> 00:18:52.240 this time around, it's hard to pick a worst one. 356 00:18:52.519 --> 00:18:55.599 This might be the worst one. And I want to 357 00:18:55.599 --> 00:18:59.559 say start out by saying, too, people hear these the 358 00:18:59.640 --> 00:19:04.039 ad pausium knee jerk proposals on the campaign trail, and 359 00:19:04.319 --> 00:19:06.000 they kind of take it as, oh, great, if I 360 00:19:06.079 --> 00:19:07.839 vote for this person, this is what's going to happen. 361 00:19:08.039 --> 00:19:10.119 The truth is, many, many, many. 362 00:19:09.880 --> 00:19:12.799 Of these things will not come to pass, largely because 363 00:19:13.079 --> 00:19:15.640 the president in and of themselves don't have the authority 364 00:19:15.680 --> 00:19:18.200 to institute these things, and they probably don't have the 365 00:19:18.240 --> 00:19:21.480 backing of do nothing Congress to actually get anything these 366 00:19:21.519 --> 00:19:23.440 things done either. So I want to preface it by 367 00:19:23.440 --> 00:19:26.599 saying that maybe take these proposals with a grain of salt, 368 00:19:26.880 --> 00:19:27.640 but yes. 369 00:19:27.759 --> 00:19:29.839 We'll talk about what it is so people know, because 370 00:19:29.880 --> 00:19:32.400 I think people don't really understand, and she's not talking 371 00:19:32.440 --> 00:19:34.680 about it very much, like we kind of got wind 372 00:19:34.720 --> 00:19:37.240 of it and then it's not being talked about a lot. 373 00:19:37.319 --> 00:19:38.839 But it's a pretty substantial thing. 374 00:19:39.359 --> 00:19:42.359 Yes, Yes, So in some ways it's substantial. In other 375 00:19:42.359 --> 00:19:45.039 ways it's not so For the average person, this is 376 00:19:45.160 --> 00:19:47.960 essentially would be some sort of a wealth tax where 377 00:19:48.119 --> 00:19:50.160 if you have a net worth of one hundred million 378 00:19:50.200 --> 00:19:53.240 dollars from more, which I'm guessing any you're getting close 379 00:19:53.279 --> 00:19:55.200 to there, but most of most of the folks listening 380 00:19:55.680 --> 00:19:59.400 not quite in that category yet. And this is this 381 00:19:59.440 --> 00:20:02.440 wouldn't impact somebody's four oh one k let's say, at 382 00:20:02.519 --> 00:20:04.559 least in the essence that you would have to pay 383 00:20:05.440 --> 00:20:09.079 taxes on. Let's say the stock market experience is this 384 00:20:09.200 --> 00:20:11.400 huge run up and the government says, hey, listen, your 385 00:20:11.400 --> 00:20:15.559 net worth increased by four million dollars last year. Congratulations, 386 00:20:15.599 --> 00:20:18.240 Now you owe I know you're not cashing out any 387 00:20:18.240 --> 00:20:21.839 of those funds, but you still owe tax on the increase. 388 00:20:21.480 --> 00:20:25.000 Because on paper you have this much more money. That's right, 389 00:20:25.079 --> 00:20:27.839 So they're saying pay us now as opposed to when 390 00:20:27.880 --> 00:20:28.759 you cash it out. 391 00:20:29.039 --> 00:20:32.359 Think of it just just from an example that again 392 00:20:32.400 --> 00:20:34.400 this isn't the proposal, but for the average person, if 393 00:20:34.440 --> 00:20:36.799 your home value went up by a million dollars over 394 00:20:36.839 --> 00:20:38.920 the course of ten years, and they said, well, every 395 00:20:39.000 --> 00:20:41.039 year that goes up, but little by little you're going 396 00:20:41.079 --> 00:20:43.480 to owe tax on the increase. And again this isn't 397 00:20:43.759 --> 00:20:46.799 targeted towards normal everyday focus. This is targeted towards the 398 00:20:46.920 --> 00:20:50.039 uber rich. And so this isn't going to impact you directly, 399 00:20:50.079 --> 00:20:53.759 but it might impact you indirectly. And in that basically 400 00:20:53.920 --> 00:20:56.799 is because the ultra rich think about how it's going 401 00:20:56.880 --> 00:21:01.119