Tax The Rich – Does That Include The Liberals – With Congressman Barry Loudermilk – Tax the rich, does that include the liberal millionaires? Congressman Barry Loudermilk joins us to answer this question asked by one of our listeners. Tune in to hear the shocking answer to this question.
Air Date: 09/06/2021
Guest: Congressman Barry Loudermilk
On-air Personalities: David Barton, Rick Green, and Tim Barton
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Transcription note: As a courtesy for our listeners’ enjoyment, we are providing a transcription of this podcast. Transcription will be released shortly. However, as this is transcribed from a live talk show, words and sentence structure were not altered to fit grammatical, written norms in order to preserve the integrity of the actual dialogue between the speakers. Additionally, names may be misspelled or we might use an asterisk to indicate a missing word because of the difficulty in understanding the speaker at times. We apologize in advance.
Welcome to the intersection of faith and the culture. It’s WallBuilders Live. We’re glad you’re with us today to talk about the hot topics of the day from a biblical, historical, and constitutional perspective. We’re here with Tim Barton, he’s a national speaker and pastor and president of WallBuilders, and David Barton, America’s premier historian, and I’m Rick Green, I’m a former Texas legislator and America’s Constitution coach. You can learn more about all three of us at wallbuilderslive.com. Check out our website today, wallbuilderslive.com.
Guys, later in the program, Barry Loudermilk is going to be joining us. We had a listener question that we’ll read in a little bit that we’re going to ask him to answer for us. But just so folks know a little bit about Barry, we’ve known for a long time man when he was a state senator. He had come to our ProFamily Legislators Conference, had the chance to work with him both at the state level and often in Congress. He often does the tours with you guys and just one of the good guys. I know some people out there think there aren’t any good guys and gals left, but there’s actually quite a few, and Barry’s one of them.
Yeah, he is one of the good guys, for sure. And by the way, there are a number of state legislators now in Congress who are part of the ProFamily Legislators network, and so there’s a lot of good guys there. And we’ve talked before, but literally, with 435 members of the House, we look at how ineffective Congress is and we think everybody’s like that. Well, that’s not the case, there’s a bunch of good guys there and they’re working really hard. We need to send more help for them, quite frankly, we need to get more guys in there. But these are guys that work really hard. And Barry is one of those guys.
I mean, Tim, you and I’ve been with him when he’s brought pastors out of his district back home, trying to get the pastors and churches engaged and involved and helping the whole area there in Georgia. We’ve seen him be involved in so many good things and taking leadership and really helping train the next generation as well.
Yeah, and it’s not just that these are good guys who are working hard, these are guys who have a biblical worldview.
And their hard work is not just because the job itself is hard, because that it is. And there’s a lot of hours they put into this and a lot of sacrifice they make on behalf of this nation, on behalf of their constituents. But they’re literally trying to promote the constitutional, the biblical, even historic perspective, kind of like we talked about on this radio program. Maybe of the 435 members of Congress, there’s probably more than 100 that we know who are really solid, biblically-minded, constitution conservative kind of people in the Senate. We can go through and name probably a couple dozen that we know. There genuinely are some very good people there. And unfortunately, most Americans will never be able to meet or hear from some of these really good people. And so we’re very honored to know a lot of them.
Guys, you mentioned, a lot of these guys came up through the ProFamily Legislative network, which is something we’ve been doing for nearly 20 years, helping train state legislators and help give them good counsel and advice and bringing in different speakers to communicate and help them with their policy positions coming up in their state legislative meetings, and whenever they go to their committees.
With all that being said, Barry is one of these guys who literally for decades has been fighting for the Constitution. He’s a military veteran, fought for the nation, and just such a good, solid biblical worldview guy. So when we had this question come in, and we thought, you know, this would be a fun one for Barry to answer because it was related to something that Congress does to legislation that Congress passed, and maybe even Congress trying to exempt themselves from something they did. We thought, you know, Barry might be a fun guy to answer this question.
Well, in fact, let’s just share the question as we’re going to break. It comes from a listener and they said “Back during the election, and again, in one of these ridiculous bills, Biden’s proposing to tax the rich, wouldn’t that require Nancy Pelosi and all the other rich politicians to pay that as well? Here’s the real question. “Is the House and Senate treated differently like their benefits than other citizens? Are they exempt? Why would they agree to be taxed so high? Typically, the Left does not donate or give up any money to help people. So, it’s a great question. We’re going to ask Barry when we come back from the break, stay with us, you’re listening to WallBuilders Live.
This is Tim Barton from WallBuilders with another moment from American history. After the final victory at Yorktown, the Continental Army awaited the outcome of peace negotiations with Great Britain. Pastor Israel Evans, a chaplain in the army proposed to George Washington that they build a structure where church services could be held during the months of waiting. Washington approved the plan and urged his officers to ensure that the soldiers attended service.
Pastor Evans further knew if we were to secure the liberties they had fought for sound education would be crucial. He declared, “Every parent and every friend of the freedom of his country ought to be attentive to the improvement of our youth in the principles of freedom and good government, and then the people will stand fast in their liberty for a long time.” Our schools today need to return to teaching the principles of freedom and good government in order for America to survive and prosper.
For more information about Pastor Israel Evans, and other colonial patriots, go to wallbuilders.com.
Welcome back to WallBuilders Live. Thanks for staying with us. Always good to have Congressman Barry Loudermilk back with us from Georgia. Congressman, thanks so much for some time today.
Hey, it’s my pleasure, Rick, anytime for you.
Hey, man, before we even dive into the topic, I just got to tell you, we launched Biblical Citizenship in Modern America back in January. And your commentary throughout that course is so good, people love it. And I just want to thank you for participating in that. We’re up to 8,500 coaches around the country now, 30,000 people on Monday nights. I mean, there’s just a ton of people absorbing that information, and you just really, really add a lot to the whole course. So thanks for doing that with us.
Well, I’m just honored that I can play a small part in the tremendous work you guys are doing. We need it so desperately these days.
Man, I’m telling you that people are hungry for it too, and they’re asking for answers or wanting to know solutions that can help turn things around. And anyway, we get tons of questions via email. And one of those had to do with this whole effort to tax the rich. And we figured, hey, let’s get Barry on to ask him about this one.
So the listener was asking, wait a minute, if they tax the rich, aren’t they taxing all these rich politicians that are in Washington DC as well? Or do they get to avoid those taxes? So what do you say to that?
Well, there’s also, the majority of the folks that I personally know and hang out with aren’t that rich: we get a salary, and that’s basically what we’re going to be taxed on, is about 174,000 a year. But there are some folks there, Maxine Waters, Nancy Pelosi who are independently wealthy and some on the Republican side, but when you look at the wealth that they have, a lot of that wealth they’ve had for a long time. It’s not their income. It’s what they’re making in the stock market. It’s the capital gains. It’s the real estate that they have. It’s some of the “liquidable” assets that they have. So when they’re talking about taxing the income, a lot of times they’re talking about taxing businesses, the Sub S corporations, the family-owned businesses on the income that they get in annually. And so it’s not really going to affect them.
Alright. And so what about now, I’ve heard rumors that Biden’s plan, they want to jack up the capital gains tax rate as well. I’ve even heard as high as 40%, I don’t know if that’s accurate or not. But what do you hear it on that one?
Oh, there’s not a tax that they don’t want to go after. I mean, when you look at the amount of money, the incredible amount of money that we’re spending, and the incredible debt that we’re racking up, they realize they can only deficit spend so far, and they also realize that America is waking up to their stings. And Americans are realizing, look, we’ve got to balance our checkbook. I’ve had some people tell me recently, I’ve took some time during one of our recesses and worked with my wife’s family’s construction business just kind of work alongside with some of these guys to see what they, and most of them didn’t know what I do.
And they’re wise to what’s going on. They said, look, we’re tired of getting these stimulus checks because we know we have to pay for them in the long run and we’re working. And so you know, people are waking up and realizing all of this big spending is going on, somebody has to pay for it and that’s going to be very expensive, especially with interest rates rising. They’ve been held artificially low for a long time, partially because of the massive debt we have. And pretty quickly, we’re going to get to the point where the amount of interest, just the interest we pay on our debt will exceed our national defense budget.
Wow. And this is I mean when you take the interest rates going up, the inflation going up, I mean, we’re going to be back to the Carter years’ misery index. And of course, I did hear somebody say the other day it’s really not fair to Jimmy Carr to call Joe Biden another Jimmy Carter. As bad as Carter was, I think Biden’s even worse. So, yeah, sorry to pick on Georgia President, but…
That’s fair. I’m with you there.
Well, the numbers are staggering. I mean, what, 1.2 trillion, I suppose that infrastructure, and what was it like 250 billion actually going to infrastructure out of that, 3.5 trillion here, another trillion there, I don’t even know how to conceptualize that amount of money and how many generations that’s going to take to pay it back.
Try to put it into some context because I was in the same position you were in back in 2015 and 16 during my first years in Congress. I was trying to get my hand wrapped around the size of our debt then which was 19 trillion. We’re closing in on 29 trillion now, just in that short amount of time, but then it was 19 trillion. And I was introducing a balanced budget amendment which I have done consistently since then. But I needed to be able to communicate to people just how massive that $19 trillion debt really was. And so I was trying to come up with something that people could equate to.
So I read an analogy that if you stacked $1 bills on top of each other, 19 trillion would go halfway to the moon. Well, that’s fine if you know how far away the moon is, which most people that’s not something they know immediately. But something everyone does know is what today’s date is. And our modern calendar is based off the birth of Jesus. So if you know what today’s date is, you know, when Jesus was born. Okay, fair enough. So I did the numbers, if you were to go back to the moment that Jesus was born, and you deposited $17,000 in the first bank of Bethlehem, and you waited 60 seconds, and you thought you know what, that’s not enough. let me go ahead and put another $17,000 in the bank, you waited another minute, and you deposited another $17,000, and you continue to deposit $17,000 from the moment that Jesus was born until today, that $17,000 every 60 seconds you still would not be able to pay off the national debt. And that was when it was 19 trillion.
Wow! Wow! Yeah. And now, I mean, we’re looking at by the end of this year, we’ll double that I mean, if they keep it at this rate.
Absolutely. And one of the things that we’re looking at doing is there’s something that we’re that was put in. You know, Congress does these great things to make everybody think we’re doing wonderful things, and we put these pay goes, is pay as you go, they’re paid for us. Every spending bill has to have a pay for. So they play all kinds of tricks and numbers to pull money from here or sell some all reserves to pay for this. And then sometimes we sell those same old reserves four and five times for different things.
But what they’re doing now is realizing, look, we have to do some paying for all this. That’s why they’re talking about huge tax increases. It’s the dumbest thing in the world to do when you’re trying to recover an economy, which was organically recovering because of the policies of the Trump administration and the Republicans, and when we did the Tax Cuts and Jobs Act. We have put into place as the Constitution says to provide for the general welfare, meaning, make an environment that promotes free market capitalism, where people can achieve. That’s what we had done. And so yes, we took a hit during COVID because of overreaction by some government, but we were organically recovering. Why? Because the wheels were in motion.
But the President, Pelosi, Schumer are doing everything they can to stop that. That’s why we’re seeing massive inflation. Because of the amount of money we’re spending, is devaluing the dollar, which is causing inflation. Paying people to stay at home instead of going to work, that’s created a supply chain crisis, which supply and demand is going to drive up prices. And now they’re going to tax people more money, which is further going to cause people to constrain their spending.
And so they’re really taking us back down the path of Jimmy Carter. You know, we’re already seeing the increase in the price of fuel. And even we’ve gone from, finally, after 40 to 50 years, we finally became energy independent and America started setting the world oil prices to where now we’re shutting it down to where we’re going back to OPEC, and we’re begging them to lower some oil prices…
That was one of our greatest achievements of the last five years was getting energy independent and no longer funding terrorism and all the other things. I mean, oh, it’s painful, it’s painful. I got to ask you this, and I know you, as a member, you can’t throw fellow members under the bus and all that. So I won’t name any names. But just in general, the people that push for this kind of stuff, I mean, are they just ignorant about economics, or do they just want to tear down the institutions? How can they possibly see that these things are in any way good for the country? And they represent the country, so they got to have some love of America. I just, it’s hard for me to imagine their thinking. You’ve been there you’re in the belly of the beast. Is there any way for you to help us understand their thinking?
And for most of them, it’s all about power. It’s about consolidating the power into the federal government. And believe it or not, Rick, I have heard the term out of some of my Democrat colleagues, central government, the central government. That is a term that was used by the Soviet Union, a communist state, referring to the power of the central government. Because under the Soviet Union, all the power flowed from the very top, all of your municipal governments, your, your provincial governments, they were all puppets to the national government. This is where they’re going. And the more that they can control, the more power that they have.
Now, and they really believe that. They think everything is good if they’re in control, and they can dictate things. And that also drives a disdain for business and independent thinking. Because when they cannot control the way that you think and the way you feel, or how you act, that takes power away from them. That’s why you’re seeing H.R. 1, a federal takeover of elections, you’re seeing high taxation undoing a lot of the deregulation that we did over the past 4-6 years to empower businesses or re-empowering government bureaucracies, it’s all about centralizing the control.
On the good side of this, though, is we’re starting to see a return to federalism because you have governors like in the state of Texas, the state of Georgia, the state of Florida, South Dakota, are standing up and saying no more. We don’t want, nor will we take your unemployment subsidy anymore, it’s hurting our economy. We are going to secure the border, if you don’t. And so we’re starting to see some of the states start to pull that power back, which, you know, the states created the federal government, not the other way around, the 10th Amendment is clear of where your power belongs. If it’s not in the Constitution, it belongs to the state. If it’s not in the state’s constitution, that retains that power with the people.
And I think we’re starting to see not only the state governments, but the people wake up to this. Look at what’s happening. Now, you’ve got two of the most liberal local leaders in America, either out of office or about to get out of office with the governor of California and the governor of New York, both of them are being pushed out of office. And a lot of it isn’t just because of their improprieties. Unfortunately, Americans, you know, they’ll overlook morality as long as they’re doing well, it’s unfortunate, but a lot will.
So with Governor Cuomo, it’s not just his morality issues, is the morality issues on top of, they’re not doing well and they’re tired of the big, heavy handed government. So we’re starting to see a shift. And that’s why what you guys have been doing is so important, because people, like you said, they’re hungry. They’re hungry to how do we fix this? And if they start realizing the power to fix this, it’s in their own hands, not in Washington, DC, that’s when we start seeing real change.
That’s right, man. And I am so glad you brought up those two examples of California and New York, because I forget the exact language, but that phrase, or that line out of the Declaration about suffering evils while they’re sufferable, but after a long train of abuses and usurpations, I mean, that’s basically where we are, people are finally just completely fed up. I know we’re running over time. So this last thing I’ll ask you. I mean, is it fair to say really to save the nation itself and save the constitutional republic, states have got to step up and assert their sovereignty.
And when I say sovereignty, I mean, everything other than those very specific things in the Constitution that the federal government’s supposed to do, they’ve got to take all the other stuff back. Because if the if they keep letting the federal government essentially be unlimited, like there’s no limitation at this point, the federal government gets to do anything and everything it wants, and is micromanaging our lives in ways we never dreamed it. Without a restoration of the jurisdictional lines, we’re going to tear ourselves apart. I mean, am I being, is that hyperbole? Am I am I exaggerating or do you think the same thing?
You’re exactly right. But here’s the thing. It’s going to take dedication, commitment, and sacrifice on every American to make this happen. We can’t just sit back and wait on the state legislature to do this. They have a hard time balancing budgets already. And that federal money that comes in, you know, a lot of them really rely on that federal money to make ends meet. But here’s where you can start. You can start at your local level.
If you’re having an issue with CRT being taught in the classroom, or you’re not happy the way that the curriculum is going in the classroom, your local school board can control that by simply saying, we’re not going to take any more federal money. That may mean you may need to pay a little bit more in property taxes or tax sales, tax however your school system is funded, if we’re really going to take care of this. Because in the long run of most of these school systems, when you really dig down into it, they’re actually spending as much or more money on compliance with these federal standards than the money that they’re actually getting from the federal government, but they just need to be able to break out from it.
And so I’ve been telling people look, you can control this, elect people to your school board that have the fortitude to stand up and say, you know what this may cost us in the short term, but we can have the best school system in America that is truly run by the people, by the parents in this community. But we have just got to break the ties with the federal government, which is unconstitutional. Anyhow, the Constitution never gives the federal government the authority over primary education.
So it’s going to take a little bit on our part. And I think that people are getting closer to that. I brought that up in a speech I was giving recently. And I said, you know, you may have to pay a little more in property taxes. And the crowd erupted in applause and said we would gladly do that if we could control our own school systems.
And get the federal government out of it. Yeah, absolutely, man. And I mean, just look at the outpouring at the school board meetings, and parents come in and testifying against all the craziness. It’s really, really encouraging to see so many people get involved. And you’re right, every single one of us has, has got to be involved. Barry Loudermilk, God bless you, brother. Thanks for being such a great congressman and being one of the ones that’s bringing some common sense to the swamp. And I know, man, I know there’s got to be days you get discouraged with all this going on at the federal level. So just know a lot of us out here praying for you and lifting you up, and just so thankful for you being in the fight.
Pretty much it’s going to take us all pulling together, but I’m optimistic we’re going to win this thing.
Amen. Stay with us, folks, we’ll be right back with David and Tim Barton.
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We’re back on WallBuilders Live. Thanks for staying with us. And thanks to Congressman Barry Loudermilk once again for joining us here on WallBuilders Live. You can watch Barry in our Biblical Citizenship in Modern America course, he has a ton of great commentary in there and you don’t want to miss it. So check out that course. Back with David and Tim. Of course, you know, guys, anytime you get a hold of Barry, you get a chance to ask questions. I couldn’t leave it to just this question of whether or not the wealthy people in Congress would be taxed. He’s got a finger on the pulse. He’s dealing with this out of control spending. So I asked him a lot more questions than he knew I was going to ask, but he’s always good at answering them anyway.
I’d say I was so impressed that here’s Barry who goes out and joins a construction crew with guys who don’t know he’s a congressman, just working with them to get a feel for what’s going on. See, that’s the kind of guy we’re talking about. He is a really good guy in so many areas. But when he shared that example of, okay, if you deposited $17,000 every 60 seconds since the birth of Christ, you still won’t cover the national debt…
When it was 19 trillion.
And I recalculated, and it would now be 30,000 a minute; if you deposited 30,000 a minute, it still wouldn’t cover all the debt we’ve got now. And now we’re at the point where as he pointed out just the interest on the debt, not the 30 some odd trillion, 29 trillion, and I say 30 some odd because they’re about the past 4.7 more trillion, now to put us about 34 or 35 trillion. Just the interest on the debt is now going to be greater than the entire national defense budget. Are you kidding? And we put ourselves in a hole that’s going to be hard to dig out of, but we can’t keep passing these measures through Congress that have all this debt added to them. At some point, we’ve got to stop and Barry needs help to do that.
Well, this is also part of the Trump administration plan that a lot of Democrats balked at and they said wait a second, how dare you presume to cut taxes on some level. And part of Trump’s thought was we want to bring American jobs back. And well, why are American jobs leaving the first place? Because the more you are taxing people, and I thought Barry did a really good job of even going through some of the reasons there’s inflation. Because when you’re paying people to not work, and then you have fewer people at work, and you have a supply and demand problem, and then the government’s printing all this money, as you’re looking at all these issues, yes, this is something that the Biden ministration is creating this problem of inflation and it’s out of control right now.
With all that being said, when you are taxing people more to have a product, to be an entrepreneur, to have a business, to have a manufacturing facility, and that’s going to save them millions or even billions of dollars to have that hired out to another nation that they can do that for you, well, that makes sense in an economics perspective for them to do that. Anytime you are raising taxes, you are disincentivizing on some level what people are trying to accomplish and do. And this is where that’s crazy as it is this policy, we’re going to see Democrats continue to raise taxes because that’s what they like to do.
But this policy never works and it always has the opposite effect of what they want. This is where you can look at “Reaganomics”, or Trump economics and you will see the exact opposite of what Democrats thought it was going to do, but actually doing the exact thing that we needed in America.
That’s why it’s important to get the truth out there. Folks, you got to share these programs. Most people are not getting truth on any of these issues. And it’s our job to educate our friends and family, neighbors. Be sure to take one of our Constitution classes, host it in your home or at your church. All of that information you can get at wallbuilders.com and wallbuilderslive.com. We sure appreciate you listening today. We sure appreciate Congressman Barry Loudermilk for joining us today. You’ve been listening to WallBuilders Live.