Will Trump Send Out Tariff Checks Before the Election?

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Welcome to another episode of the Chicks on the right podcast, where we talk to our friend and sponsor of the Showsak Abraham from Bullwart Capital Management.

And there's been a lot of changes with respect to how Trump is now allowed to manage his tariffs.

And of course, the Supreme Court recently just struck down a major part of his tariff agenda, which has forced him to kind of adjust strategy, employ some different sections.

We played a bunch of clips of Scott Besson talking about section 294, whatever the numbers are of all the sections.

There's a bunch of them that they are now relying on.

But we're now remembering about this idea that floated around about checks that would be going out to everybody because of all this potential tariff revenue that's coming in.

And so how do you think that the changes and the Supreme Court ruling impact the likelihood of people getting checks?

At this point, I mean, it's a moving target at this point, so we're going to have to see the way it plays out.

But at this point, I don't think it's going to have a whole lot of impact on them, meaning from, and I am not a tariff expert.

But from my understanding that Trump still has quite a bit of latitude to basically reroute the tariffs, like rebrand them sort of, you know, and probably institute them in a very similar, if not effectively identical way that they were instituted in the beginning.

So I don't think that overall what the Supreme Court did is going to have a big difference. We'll see.

And I also wouldn't anticipate it having checks or, or, or, or being, if I'm listening to the Trump administration, and I think it's, I think it's fairly easy to see why they would be in this posture.

But I would anticipate some site, some type of check, some type of quote unquote fiscal stimulus in some way, shape, or form to go out before the election. Yeah, I didn't say I'm a fan of it.

But I think that, you know, I mean, unfortunately, we've started to go down. And if you think about it, it's just gotten more and more, or it's just gotten less and less opaque over the last 15 years.

Meaning, you know, politicians have always promised stuff in exchange for votes. Those promises have gotten less and less veiled over the last 15, 20 years to the point where we're just buying votes at this.

Yeah. And then, and then COVID made it much worse too. 100%. Yeah. And so am I in favor of it? No, um, you know, but my job is doing what I do for a living is not to project what I want to happen. It's to project what I think to happen.

You know, this, this may be tangential, but, but, you know, like a lot, some people will be like, oh my god, I really want that $2,000, you know, as a stimulus check, be so great to have that.

And listen, I would never turn down $2,000, but because it's my money to begin with, like, right? If you gave us the government and they're giving it back to you, it's like, thanks for my money back jerk, you know, but at the same time, like, I just as a, as a financial guy, like, if, if you were counseling somebody and you were like, listen, you should have X amount or, in a emergency funded all times, like, you shouldn't be relying on a government to give you $2,000 to have as it, like, is there a percentage that you throw out to people?

Like, what do you say when it comes to emergency funds and stuff like that? Just having money on hand or having a slush fund or making sure that people have, because a lot of people nowadays don't have, you know, a car breaks down, or if they have an unexpected bill or whatever they just don't have that money to cover it, I'm just curious what, what you usually say to people.

Yeah. You know, I think there's two ways that you can look at that topic. I think you can look at it in a, in a, a new way and I can kick out a percentage.

I think it's really more important to so funny. My wife and I were having this conversation last night. I think it's more important to understand the concept. Now, I have absolutely been in the place in my life where for an extended period of time, we were trying to make a dollar out of 15 cents.

When you're in that place economically, let me just tell you something. As long as you're working your tail off, quit worrying about it. Okay, this too, she'll pass. Everybody goes through it.

Worry about surviving. Worry about if you're young and married. Worry about building up your relationship. And figuring out the fun times that you can have in the midst of that, because you can have a lot of fun, even though you're broke.

Right. Right. But, but what I would encourage you to do is start thinking about a very important concept.

And I think it's a really important thing that most people do not think about before they start making more money.

And that is the only way you can generate and build wealth is if as your income increases, your liabilities and your assets don't, or your, excuse me, your liability and your spending, your liabilities and your spending habits and your, and your debt doesn't see one of the biggest problems that with athletes go broke, right. How do you go broke after you make a hundred million dollar contract.

It's actually really easy, right. Because you're going out and you're accumulating these liabilities based on an income that we know will not last. Right.

And so the problem is is that you'll find these people that make a lot of money. And when you look at their life financially, as that income is rolling in, the liabilities and the expenses look reasonable as a percentage of their overall income.

As a matter of fact, they might even compare them to your life and go, look, my mortgage is the same percentage of my income that yours is, right. I'm not out over my heels, right. You are.

And you are because you do not make a normal income, which means like I look at my income. It's considerably higher than a normal income, but I'm also self employed. So there's a level of volatility that I need to factor in there. Right.

But the number one thing is getting that concept of, no, no, don't maintain the percentages. The way you will build wealth and get financial independence is if you hold the spending in the liabilities here as the income advances.

Right. And I am telling you right now, if you do that, it is an infinitely better feeling and an infinitely bigger flex than driving that new car.

Totally.

With that new $1,200 bag. I'm just telling, and you will get to a point where you're sitting there pulling in in your 10 year old paid off car, smiling when people don't think you have any money.

Because you're sitting there going, no, no, no, but I actually have real money, which is money sitting in an account, not just an income that I get to use 20% of because all the rest of it is going to existing

or if you have an emergency, you know, something that comes up, you can just take care of it.

Yeah. Right.

You take care of it. And you know, right?

You know, or like living so one of the ways I structure my life is relatively speaking, I don't have any debt.

One of the things that that enables me to do is to spend extravagantly on certain things and do some things that are kind of like, dude, that's a little over the top.

Why? Because if things were bad to happen or my income was to take a drop, I can, I can drop my spending instantly because I have no structural spending.

Right. Yeah. Right.

And that's the key to me. Like, is people need to understand?

And you can play that game no matter where you are as your income starts to like, as it starts to climb, you got to cover the basics.

I'm not telling you to try to make your own soap in the backyard, right?

I'm not saying we need to get extreme. I'm not saying you got to start trying to trap squirrels, right?

I'm just, although I heard they taste like chicken. I'm just putting that out there.

Supposedly, I mean, most things do. Right.

Exactly.

Oh, but, but, but just that concept of don't care what anybody else thinks.

It is the most expensive thing on earth you can possibly do.

Exactly. And, and instead of thinking about a metric you need to hit or a measurement you need to hit, think about liberating yourself from other people's expectations.

And actual, that's what real wealth building is. It's, I'm going to make this decision because it's wise.

It is responsible and it is the best.

And I don't care what other people think, right?

If they're not paying for my retirement, why do I care what they think?

And then the other thing that we should be holding in our mind, the other reason why you shouldn't care what they think, the masses are asses.

Most people are idiots. You don't want to retire like the average person.

So don't do what the average person's doing.

It's so funny because when you turn 50, like you, you just stop caring anyway, like by default.

Yeah, but you're so right between 20 and like 45, I think people still care.

But it is a beautiful thing is when you hit 50, you're like, yeah, it's just, I don't give a crap anymore.

One of the best things that ever happened to me is I, for some, I was able to learn that lesson earlier.

And I think my give a crap button was broken at like 37.

That's so good.

It is just because you start realizing you're like all the, these people, they don't even, they're not even thinking about me.

They're, they're consumed with their own lives.

And so I don't, and, and, and no offense to them, I wish them all the best.

But I wouldn't want any part of their life.

So why do I care what they think of mine?

It's exactly, it's so true.

Who cares?

That's exactly right.

Absolutely.

But you do care about people's finances and their retirement planning.

And that is why they should contact you to do just that.

Please let them know how they can.

So that's so good.

So good, right?

It is.

So good.

Yeah, not hard to find.

Vote for capitalmanagement.com.

Know your risk podcast.

You can find, find our video feed of our daily podcasts.

And just search, know your risk podcast on YouTube.

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Vote for capitalmanagement.com.

Not hard to find.

Thank you, Zach.

Thanks, Zach.

Thank you, ladies.

When you really need care, you need 24-7 access to a care team, not a maze of paperwork

from a third party.

Every day, America's hospitals and health systems show up for you.

Navigating healthcare can fuel overwhelming.

But you can count on real doctors, real nurses, real people,

providing quality around the clock care when you need it most.

They're in your corner, in communities across America,

your neighbors, your lifelines, right beside you,

holding your hand and helping find answers.

That's what putting patients first actually means.

Learn more at strengthinhealthcare.org

Brought to you by the Coalition to Strength in America's Healthcare.

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