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Speaker 1: Welcome to another episode of the Chicks on the Right podcast,

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where we welcome our friend and sponsor of the show,

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Zach Abraham from Bulwart Capital Management, to talk to us

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about the economy and money. And I guess somebody recently,

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according to Yahoo Finance, somebody did a chat GPT exercise

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where they asked what would happen if regular Joe Schmoe

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families across the country could write off life expenses in

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much the same way that corporations get to write off

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like everything, and so, of course the answer was, well,

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middle class families would save a ton of money, but

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the government would take in less revenue. So was this

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a pointless exercise? Or do you think the tax code

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could and should be adjusted to make wealth like the

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wealth gap shrink a little bit?

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Speaker 2: And do you think taxation is theft? Do you think

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it's theft to discuss?

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Speaker 3: Yes, I too, So I guess the better way to

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put it would be do I feel like it stuffed?

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Speaker 4: Versus do I think it stuff?

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Speaker 3: Because those are two, So I look, I think one

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of the tough one of the best ways to frame

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a discussion about taxes and it first of all, it

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requires nuance because regardless of what plan we come up with,

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somebody's got to send a check to the government.

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Speaker 5: Right.

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Speaker 3: And so it's like saying it was the best root

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canal I ever had, right.

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Speaker 4: I mean, you know what I mean, it's make it

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the least.

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Speaker 3: Painful, right, Like, that's a good one. And so taxes

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are like that too. So then you kind of sit

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back and you start taking kind of a bigger look

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at least this is what I've done in my life,

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and gone, wait a second, what makes the most sense? Right?

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And first I'm drawn to something like a flat tax

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because it's fair, right. The only issue I have with

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that is, in a way it's not because what that

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means is that everybody else will be paying a much

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larger percentage of their income for basic goods than somebody

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like me would pay, right, or like even more so

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with a well, shoot a politician.

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Speaker 4: Right, Nancy, Nancy blow right?

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Speaker 3: So so meaning it's a regressive tax in a way,

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because you don't want the tax burden to be disproportionately

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on the smaller the smaller guy, right.

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Speaker 4: And what we should want.

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Speaker 3: One of the unique aspects of America is upward economic mobility.

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And if you lose the hope of upward economic mobility,

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you're going to see a lot more nasty things occurring

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in culture. Right, Like the belief that I can get

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ahead is one of the reasons why I participate. Right,

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It's one of the reasons I don't burn down cities.

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It's one of the reasons that I don't act.

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Speaker 4: Like an idiot. So we need that.

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Speaker 3: And I think when you pull back, you go, Okay,

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here's the deal. No one's gonna like this. There is

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no perfect setup. But we should have a tax code

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that is huge toward guys that make more money or

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women that make more money, and with the thought of

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not punishing them, but the thought of we're doing that

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so that there's less of a burden on the lower end,

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therefore allowing them a greater opportunity to acquire and build wealth.

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Speaker 4: And if every but like I said, I.

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Speaker 3: Every if upward mobility is alive, and well, it's much

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better for a culture.

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Speaker 4: It's much better for a society kids have hope.

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Speaker 1: Is that a fair tax like a consumption tax? Then

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are you down with a consumption Is it like it?

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Speaker 2: Or is it like a herman knees?

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Speaker 4: No?

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Speaker 3: Well, so, guys and I hate saying this because it

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means that I'm going to pay a tax. But I

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do think an income tax that is somewhat progressive makes sense.

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And the reason why I say that is because you.

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Speaker 4: When people have.

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Speaker 3: You have to have ways to tax wealthy people, because

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wealthy people have a lot of ways to avoid taxes, right,

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so so, and again it's not because they're well, we

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don't want to punish them. But if a guy makes

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five million dollars a year, paying thirty five percent is

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a lot of tax, okay, But that tax does not

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impact his lifestyle whatsoever. And I'm not saying that entitles

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the governments that money. It doesn't, okay, But if me

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paying or and I don't make that much money. But

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if making that much money, if paying that level of

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tax is meant the guy that's got three kids making

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ninety five grand a year driving truck or one hundred

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and twenty grand a year driving truck, if it means

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that he's only paying like ten and that enables him

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to put bigger amounts of money away in his four

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to one K I'm all for it.

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Speaker 4: I'm all for it, and I don't like it. Again,

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we're paying tax.

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Speaker 3: It's not perfect, but we got to step back and

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go like, you know, what are we trying to do

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with these taxes?

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Speaker 4: What is the goal now?

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Speaker 3: For people sitting there making the argument that we don't

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have a revenue problem, that we have a spending problem,

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that's one hundred percent true, right, So anything that we

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do on the tax side needs to be met with

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government getting way more efficient.

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Speaker 4: I mean, it's a joke and people are like, well,

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what do you mean. Dogs didn't find that much.

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Speaker 3: People don't understand the inherent waste that's baked into the

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cake when.

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Speaker 2: It comes to oh my gosh, so much.

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Speaker 4: Even stuff that isn't fraudulent.

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Speaker 3: And I'll just tell you right now if you haven't

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a tough time conceptualizing this. When you are running a

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for profit company, making the tough choices to generate a

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profit isn't easy, okay, And it's tough to generate a

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profit in a competitive landscape when your primary aim isn't

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to generate a profit or to be you know, to

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be studious with assets, you're not going to be right

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like it's it's it's too Fiscal discipline is hard enough

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when your life depends on it, but when it doesn't.

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Speaker 4: When the stick it keeps flowing. No matter what you do,

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you're going to have massive amounts of waste.

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Speaker 2: Yeah, you're a sorority girl on spring break.

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Speaker 4: Like you know.

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Speaker 3: For instance, I'm I believe that defense is one of

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the top spending priorities of a government.

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Speaker 4: I believe that that's a job. Right.

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Speaker 3: Are you trying to convince me we couldn't cut our

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defense budget twenty percent still and still be just as good.

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Speaker 4: I just don't buy it. I just don't buy it.

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Speaker 3: And so I mean, I think on average, I feel

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like you could probably cut twenty percent from things that

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do not even directly touch most taxpayers, meaning not slashing

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Medicare and Medicaid. I think you need to deal with

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them clearly, but I think you could if you add responsible,

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reasonable people that were trying to do the right things

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and willing to work across the aisle. I don't think

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pulling back the budget fifteen to twenty percent would be

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that big of a deal.

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Speaker 1: Agree. I think companies get too much in the way

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of subsidies tax breaks from the government from US essentially.

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Speaker 4: Yes and no.

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Speaker 3: So for instance, generally speaking, yes, I think subsidies are

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a crime against humanity, and I can't stand that there

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are going to be scenarios where we need government and

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private sector cooperation.

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Speaker 4: When done correctly, it's shielded wonderful results. And then also

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I think we need.

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Speaker 3: To be a little bit more open and conscious of

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that when considering we're going up against the Chinese. But

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you know, the Chinese are proving something really interesting right now.

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Right everybody focuses on the government collusion with private enterprise.

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They don't appreciate enough how much the Chinese Communist Party

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has basically said, Okay, we're going to help you get

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this thing rolling, and then after that it's thunderdome, meaning

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right the greatest, the strongest hands survive, and they helped

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all these companies get started and then kind of said okay,

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figure it out.

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Speaker 4: And it's been brutal competition.

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Speaker 3: But that competition is why you're seeing them close the

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gap so fast and evse, it's why you've seen them

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completely close the gap in a battery technology. Competition works,

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and that's why every time I hear somebody say capitalism

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has failed in the United States, I go, no, no, no.

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Speaker 4: We've failed.

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Speaker 3: Capitalism doesn't feel Competition does not quit making people better

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and stronger.

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Speaker 4: It always does.

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Speaker 3: What happens is you've inculcated and you've insulated these companies

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from it from competition.

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Speaker 4: There's a lot There's a lot of stuff to clean

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up too.

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Speaker 3: There's a bunch of you know, the carried interest loophole

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that is a joke that should get nuked right now.

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There's so many different things you can clean up to

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close those loopholes that get people in companies.

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Speaker 2: So yeah, listen, I still think that taxation is theft, though,

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I think.

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Speaker 5: It's you know, we thought a revolution over a three

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percent t tax, So I'm just saying I'm not saying exactly.

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Speaker 4: I am so sympathetic to that a little bit.

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Speaker 3: Well, here's the here's the one thing I think that

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I think the taxation the way it's currently done is

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theft because I don't believe that an individual taxpayer truly

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has representation in Washington, d C. Right, And I think

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that the I think a lot more taxation needs to

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be local.

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Speaker 4: It is theft.

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Speaker 3: I mean, we did fight a revolutionary war over right,

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like I mean, and it's I mean, how much different

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is it really from what they were saying back then

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about a king?

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Speaker 4: So many miles away versus what we're dealing with now.

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Speaker 2: It's true.

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Speaker 4: I mean true, there's.

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Speaker 3: I bullwork and Zach Abraham have no representation on in

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decent You believe us.

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Speaker 5: We understand the whole corporate and we get it. Small

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businesses get screwed. It's just it's it doesn't get any better,

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you know what I mean? And I feel like they

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get they get higher and higher and higher. I mean,

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hopefully this administration will make it better for us.

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Speaker 2: I don't know. We'll see, but I don't know.

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Speaker 1: They've got time to make it better, and Zach has

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time to change the hearts and minds of people that

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have not yet found him. With your fabulous seminar that's

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coming up, what a week.

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Speaker 3: Or so anyway, Yeah, so you can find we're going

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to be discussing. We're really discussing about who we are,

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what you know, what makes us different, how we're different,

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not just like everybody else, but also explaining what is

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changed and how we're positioning to it and how through

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a lot of uncertainty. You know, we're having one of

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our best years right now, in the last five, last

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five or six, and it's not from the normal ways

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of doing things, and I think that that is kind

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of just the beginning, and so just trying to explain

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to people the massive shifts that are going on and

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how that needs to be represented in their portfolios or

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they're going to pay the price. And the easiest way

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to get hold of us is Buorcapital Management dot com

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or go to Know Your Risk podcast dot com or

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on YouTube on all the social media stuff, no ours, funt.

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Speaker 2: I love it. It's an exciting time. I love it.

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Speaker 1: Thank you, Zach, Thanks you as always.

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Speaker 4: Thank you, ladies. Investment advisory services offered through TREK Financial

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loc and SEC Registered Investment advisor.

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Speaker 3: The opinions expressed in this programmer for general informational purposes

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only and are not intended to provide specific advice or

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recommendations for any individual or on any specific security. Any

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references to performance of security so are thought to be

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materially accurate, and actual performance may differ investments involved risk

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and or not guaranteed.

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Speaker 4: Past performance doesn't guarantee future results. Trek twenty four three

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zero eight