Federalist Society darling billionaire Leonard Leo spilled the beans on his quest on moving the U.S. to the right. Cenk Uygur and Francesca Fiorentini discuss on The Young Turks. | Your Support is Crucial to the Show: https://go.tyt.com/jointoday
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"Conservative activist and Supreme Court puppetmaster Leonard Leo recently outlined his pitch for billionaires on how they can help move the United States government and society to the right.
“It’s really important that we flood the zone with cases that challenge misuse of the Constitution by the administrative state and by Congress,” Leo said in a new podcast interview, calling on the ultra-wealthy to support these litigation efforts."
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240321__TB03LeonardLeo
Some of my Republican friends want
to take the economy hostage, I get it. Unless I agree to their economic plans. All of you at home should know
what those plans are. Instead of making the wealthy
pay their fair share, some Republicans, some Republicans want Medicare
and Social Security to sunset. I'm not saying it's a majority. Let me give you anybody who doubts it. - Contact my office.
- I'll give you a copy. I'll give you a copy of the proposal. At the 2023 state of the Union,
Republicans boo
ed when Biden accused them of wanting
to cut Social Security and Medicare. But it turns out that Brandon was right,
because yesterday, a massive group of House Republicans released a budget
proposal that would do just that. Specifically, that group
is the Republican Study Committee. It has over 170 representatives in it. We're going to focus on what they want
to do with Social Security in today's segment, but just know
that they're coming for Medicare, too. That aside,
here is their plan for Soc
ial Security. The budget endorses modest adjustments to
the retirement age for future retirees to account for increases in life expectancy. It calls for lowering benefits
for the highest earning beneficiaries, and it emphasizes that those ideas are not
designed to take effect immediately. The RSC budget does not cut
or delay retirement benefits for any senior in or near retirement. Interestingly, the budget proposal admits
that Social Security funding could be bolstered by raising taxes, but rai
sing
taxes on people will further punish them and burden the broader economy, something
that the spend and print regime has proven to be disastrous and regressive. The budget says, adding that the committee
also opposes a multi-trillion dollar general fund transfer
that worsens our fiscal situation. Now, to understand the game
that Republicans are playing here, we need to do some math. We'll start with the proposal
to raise your retirement age. You can start collecting your full Social
Security
benefits at age 67. Let's say, hypothetically, that Republicans raise
that age to 70. Here's how much money they would have taken from you. According to the Social Security
Administration, the average monthly check for Social Security as of December 2023 is just about $1,700 1770. So we multiply that by 12 to find
out how much money that is per year. It's 21,240. And then we multiply that by three because
of the three year gap between 67 and 70. That's 63,007 20. So if Republicans raised your re
tirement age to 70, they
would have stolen over $60,000 from you. As we mentioned earlier, the proposal
stated that Social Security benefits should be lowered for the wealthy,
but that's a smokescreen smokescreen to make it seem
like they care about economic justice. And here's why. If an individual files for Social
Security at age 67, the most they can receive per month is around $3,820. Who is eligible for the maximum benefit? People whose earnings equaled or exceeded
Social Security's maximum
taxable income. The amount of your earnings
on which you pay Social Security taxes for at least 35 years of their working lives. The maximum taxable income
in 2024 is $168,600. So maybe Republicans would reduce
the maximum Social Security check by a few hundred dollars. But let's dive back into some numbers. All of us are taxed at a rate of 6.2%
to fund Social Security. So let's find out how much you
pay into the program. If you make the maximum
taxable income or higher, $168,600 times 0.062 is
$10,453.20. Now let's eliminate that cap. We'll use Tucker Carlson as an example,
who reportedly made $8 million per year during his time at Fox News,
that at that rate, it's $496,000. It's a lot more money.
But that measure alone wouldn't be enough. Many billionaires
receive all of their money in the form of bonuses and stock options. Elon Musk is the highest paid CEO
in the world, but because none of it is wage income, he doesn't pay a single penny
into Social Security. And that's why investm
ent income
should be included as well. A lot to digest here, Jake. I'm curious at first
to go back to Republicans acting outraged by the suggestion that they want to cut
Social Security and then openly admitting that's exactly what they want to do. I mean, will this resonate?
Will this land with voters in November? Because this is a hot button
issue in elections. A lot of mainstream media
don't give you honest news. We do. You know why? Because of you. Paid membership on YouTube
makes all the di
fference. Hit the join button below
and you become the hero that sustains us. Yeah, so let's break this down because I
know there was a lot of numbers in there, but these numbers are life changing for
you guys, so I want you to understand it. So first of all, on the Republicans saying
that they wouldn't cut Social Security and Medicare, told you they've been trying.
And now why do we say that? Because I've been covering the news
for about 30 years now. And every year the Republicans
come up with
a new proposal to cut Social Security and Medicare. It happens like clockwork. Anytime they're challenged on it,
they're like, no, no, we're not cutting. We're just going to raise
the retirement age. That's why we showed you the math. If they raise the retirement age,
you do not get that money. Do you get it? So if you're 67 and you're going to get,
you know, the $21,000 that year because of Social Security, when they raise it to 68,
you never get that $21,000 back. Never. So if they raise it b
y three years,
as they're saying, that is literally stealing $63,000 from all of you. And then the trick in there of,
oh, we are going to take it from the rich because we are populists. So, oh, the their proposal
might cost the rich 1 or $2000. But as Jordan showed you there,
if you take somebody making $8 million a year, their proposal actually gets them
half $1 million extra. Do you think the Republicans
don't know that? And most of their donors
don't make 8 million a year. They actually make
more. So they're like, oh, we are going
to take $1,000 from them and then give them a million bucks back. Bunch of suckers think that Republicans
are populists, and they're for the average American and American for that. Ha ha ha ha. So meanwhile, I mean,
look at the defense budget. It's the most bloated, pork barrel
corruption stuffed budget in the world. They can't account for $400 billion
when the Republicans are like, spend it, spend it, because that's their donors,
the defense contractors.
You come to Israel,
they're like 14 billion, no, 17 billion. Spend it, spend it.
Well, where are you going to get it from? Well, why don't we just take
63,000 thousand dollars out of the pockets of the average man
and make him work till he's 70? That's Republican 101. A lot of the voters that are Republicans
might not believe that, but almost all of your politicians believe that, and they
just proved it in spectacular fashion. Yeah, I think the cap is an
interesting point because we hear all of
these arguments. Oh, we have to privatize it. Oh, we need market based solutions for
Social Security because it's insolvent. We don't have enough money.
We're running out of money. Okay, well, you're refusing
to tax the wealthy. You're capping it at some arbitrarily
low number relative to the wealth of many of your donors. But there's going to act like they don't
have any solution other than raise the age for working people. And eventually, I'm sure we'll see another
resurgence of the privatize
argument, because that's what Paul Ryan wanted. I'm sure that's
what many Republicans want, because that's what their donors want. Wall Street would love to turn Social
Security into a new investment fund, and that would be bad news for everybody,
especially people who rely on Social Security to make ends meet. Fixed income people shouldn't be
at the whims of a volatile market, but Republicans don't care
because that's what their donors want. So I'm interested to see
how this plays out in Novemb
er. It's a hot button issue. A lot of, the older generations in this
country, Janki, are now a member of them. They vote reliably. They they care. They care about this issue.
They care about Social Security. And that Republicans are
again trying to bring this up. It's an opportunity for Democrats
to make clear messaging around this. This is a cut.
They're not just raising the wage. It's not just adjusting
for life expectancy. You paid in since when you were young,
with the expectation you'd get
it at a certain age. You can't change that. And even if people are young now,
and even if they're a few years into the process, say they're young 20s, no,
the deal was you get it at a certain age, you can't just change it. That is a cut. So if Democrats can do good messaging
around this, we could see people shift. Hopefully they don't buy into Republicans
arguments that it's just adjusting for life expectancy expectancy. But it's a hot button issue. And I'm curious why Republicans are
even doing
it. Yeah. So guys, they keep saying that it's going
to be insolvent, even in this otherwise really good NBC article about it. They say, oh, well,
Social Security will be insolvent by 2033. All we have to do is raise the cap, which
means for people making above 168,000, they continue to pay an extra .06 2%.
So that Republican study group, or the most theoretically
conservative Republicans and 170 of them. So the great majority
of the Republicans in the House, they say, no, you will never touch o
ur beloved rich. Not even 0.062%.
We'd rather steal $60,000 from the average American, all of you guys, to fund this,
rather than touch the people who we actually serve, even if it's
the smallest fraction you've ever heard. So that's who Republican politicians are. They're the most corrupt people
in this whole system. And so I criticize the Democrats to know,
and you watch this show, you know, that the Democratic leadership
and establishment hate me. But at least on this one,
they do not propose
cutting Social Security and Medicare,
and the Republicans definitely do. And unfortunately, Jordan is right.
I did turn 54 today, so I'm getting there. But if you're out there
and you're watching, I'm not saying this is a great time for a super chat or
to join by hitting the join button below. I'm not saying a contribution
at Tyt.com slash join wouldn't be greatly appreciated, but there. That's out in the world just in case. But mainly, let's make sure that we all
fight together to protect all
of our money from these thieves in Washington. Thanks for watching The Young Turks
really appreciate it. Another way to show support
is through YouTube memberships. You'll get to interact with us more.
There's live chat emojis, badges. You've got emojis of me
Anna John Jr. So those are super fun. But you also get playback
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to do is click that join button right underneath the video. Thank you.
Comments
A teacher asked her 6th grade class how many of them were Trump fans. Not really knowing what a Trump fan is, but wanting to be liked by their teacher, all the kids raised their hands except for Little Johnny. The teacher asked Little Johnny why he has decided to be different... again. Little Johnny said, "Because I'm not a Trump fan." The teacher asked, "Why aren't you a fan of Trump?" Johnny said, "Because I'm a Democrat." The teacher asked him why he's a Democrat. Little Johnny answered, "Well, my Mom's a Democrat and my Dad's a Democrat, so I'm a Democrat." Annoyed by this answer, the teacher asked, "If your mom was a moron and your dad was an idiot, what would that make you?" With a big smile Little Johnny replied, "A Trump fan."
My god!!! This just keeps getting worse with these billionaires
I have no respect for billionaires
A Bar Harbor man has agreed this week to settle a lawsuit against two police officers for arresting him at a political demonstration last year outside the home of conservative legal activist Leonard Leo, according to court filings. Eli Durand-McDonnell filed a complaint in U.S. District Court in Bangor in July, roughly a year after his 2022 arrest on a disorderly conduct charge. He was one of dozens of people who had gathered outside Leo’s summer home in Northeast Harbor in July 2022 to protest after the U.S. Supreme Court overturned Roe v. Wade that summer. The criminal charges were dropped in May. Leo, a nationally recognized conservative activist, used his influence and wealth to help create a more conservative Supreme Court. Though Durand-McDonnell’s lawsuit did not name Leo as a defendant, he alleged Leo used officers from the Bar Harbor and Mount Desert Island Police Department to single him out, even though Durand-McDonnell said he was protesting peacefully. Durand-McDonnell alleged in the lawsuit that the officers, Kevin Edgecomb and Nathan Formby, violated his First Amendment right to free speech and his Fourth Amendment right to be free from unreasonable search and seizure.
The Constitution never included Christianity in its formation. The founders went through years of debate before coming to this decision. Even the ‘In God We Trust’ on our money violates the founders’ intentions of separation of church and state.
LESS UNIONS.... LESS LABOR LAWS..... LESS BENEFITS.... LESS ACCOUNTABILITY..... MORE FOR CORPORATIONS AND THE RICH. RIGHTS WING REPUBLICAN AGENDA AT ITS FINEST.
Reproductive rights are human rights! 🇺🇲💙🌊
Billionaire: we want slaves The Republicans: sure The Dems: sometimes The people: 😂 quiet quitting, uber, door dash, lyft, uber eats, hustle, grind, borrow, steal, 2 jobs, small biz, new job 4 thus yr, Passive income, etc
Imagine bringing back child labor and raising the retirement age to 70…
Cenk needs to understand these billionaires also own and control social media, search engines, and the general flow of information throughout our society.
So the ultra rich donors have one party that cuts their taxes and the other makes unfair rules that make it difficult to compete.
Leonard Leo: "We need to create an electorate that does what WE want."
This makes me sick! 😖😵😡😡😡
The thing they can't get through their head is we're all equal citizens with the same constitutional protections. They think they are citizens and we are not, we're trespassers on their property.
Limited government, limited government, limited government! Ok, can we use Cannabis, collectively bargain, have control of what our taxes pay for? No, not like that!
Everyone's going to have to get used to begging billionaires to help their communities homeless problems and such. The governments aren't going to help us
What Leo is doing has nothing to do with the Constitution, "as it was originally written" or otherwise. The facts are not on the right-wing side.
When he says understand the constitution, he really means re- frame the constitution to suit the religious agenda.
Leo says Less Government, but in that case, why do his mentees increase laws against minority voters, laws against women’s bodily rights, &c. That’s not freedom. The only laws he’d ban are the business regulations discussed here.
Lenard Leo is parroting the "Powell Memo" .