Americans today live in a world of globalized supply chains — and thanks to our illustrious leaders, those supply chains center around China. Charlie explores rare earth minerals, the "pencil myth," and a lot more to drive home why America needs a dramatic revision of its economic strategy. Stephen Moore joins to make the case for preserving President Trump's first term tax cuts. Watch ad-free on members.charliekirk.com! Get new merch at charliekirkstore.com!Support the show: http://www.charliekirk.com/supportSee omnystudio.com/listener for privacy information.
Chapter 1: What is a supply chain disruption and why does it matter?
Hey everybody, it's the Charlie Kirk Show. What is a supply chain disruption? It is shocking how much we are actually reliant on the Chinese Communist Party for. We dive into those details. Email me, freedom at charliekirk.com. We're here at the bitcoin.com studio. Subscribe to our podcast. That is the Charlie Kirk Show podcast page. Get involved with Turning Point USA at tpusa.com.
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Maybe Charlie Kirk is on the college campus. I want you to know we are lucky to have Charlie Kirk. Charlie Kirk's running the White House, folks. I want to thank Charlie. He's an incredible guy. His spirit, his love of this country. He's done an amazing job building one of the most powerful youth organizations ever created, Turning Point USA.
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Learn how you could protect your wealth with Noble Gold Investments at noblegoldinvestments.com. That is noblegoldinvestments.com. It's where I buy all of my gold. Go to noblegoldinvestments.com. Breaking news yesterday. China has announced that it is halting the shipment of rare earth minerals to the United States. We're going to explain that in just one second.
We have eyes on the President Trump and Bukele little press conference. It's a little all-star team. You got Mike Waltz there. You got Susie Wiles there. You got Stephen Miller there. You got Marco Rubio. You got Pam Bondi. We're keeping eyes on that. But let's dive into the breaking news that happened yesterday.
The Chinese Communist Party has announced that it is suspending shipments of rare earth minerals to the United States. The critical minerals that many American companies need to be able to survive and build things such as iPhones, electric vehicles, are being put in suspension.
Now, if you look at a periodic table, it seems as if if we could print out a periodic table, it seems like China controls like half of the periodic table. Now, mind you, I have not looked at a periodic table in probably well over a decade. So in preparation for this program, I started to research what rare earth minerals specifically does China extract? What are they used for?
And then I had to go back to my periodic table and realize, that the Chinese Communist Party controls almost 85% of all the rare earths in America. This is a serious escalation in the trade war between the Chinese Communist Party and the United States. Here are just 10 rare earth minerals that China is the world's dominant supplier in. For example...
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Chapter 2: Why is China halting rare earth mineral shipments to the U.S.?
Well, I'm glad you asked about that. Literally, just this morning, I finished writing my weekly column on that very issue. So you must be clairvoyant. But, you know, look, I'm not going to get into the weeds on this. This is the private equity industry, which is what pumps money into small businesses, family businesses to keep them alive or to allow them to grow into bigger businesses.
We are almost unique as a country in having this incredible private equity industry that injects capital into smaller and medium-sized companies so they can grow. And it works. It's an amazing thing. It's created like 20 million jobs worldwide. through this private investment capital. And we don't want to tax that more. Look, it's very simple. If you tax something, you get less of it, right?
That's what Reagan taught us. Why would we want less equity going into small and growing businesses? It doesn't make any sense.
Yeah, it's just the argument that the other guys would say is, but it's a fat cat loophole made and designed for Wall Street, and it's used and abused. And I don't buy that. No, build it out further.
I don't buy that at all.
Because I trust your judgment on this.
Okay, so basically we have two tax rates. We have capital gains tax, which is too high. We tax that at 24%. And then the personal income tax, which is taxed right now at 37%. So what these people want to do, and this is basically people like Bernie Sanders and Elizabeth Warren and some Republicans. They said, well, we should tax...
These people at the personal income tax rate, not the capital gains rate, which is, to me, I don't even get the logic of that. When a private equity person puts money into a company, that's at-risk capital. They're at risk of losing it all. That's why we have a lower capital gains rate, because it's a riskier investment.
So now speaking more broadly, let's talk about energy policy and other elements of the bill. So we want to see the Trump tax cuts locked in. What is what exactly does that mean? Make the Trump tax cuts permanent. The left is losing their mind. They're saying she's a tax cut for the rich. What would it mean if the Trump tax cuts are not made permanent?
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