ALL RIGHT.
ANYONE WHO IS INTO NUMBERS AND
ECONOMY FINANCE AND
CONSERVATIVE THINKING KNOWS
THOMAS, HE'S LIKE IRAQ STAR.
YOU HAVE POSTERS IN YOUR ROOM.
THEN THERE'S ANOTHER GROUP
THAT WOULD BE UP ON MONEY
LEGENDS.
THEN ALONG COMES KANYE WEST TO
IMPLANT THE NAME OF THOMAS
INTO THAT GROUP.
SAYING OTHER THINGS, THAT IT
TAKES CONSIDERABLE MILEAGE
JUST TO ACKNOWLEDGE THE
EXTENT, PEOPLE WHO ENJOY
MEETING, THE WELFARE STATE IS
ABOUT THE EGOS OF THE ELITE.
LET'S GO ON WITH THE GUY WHO
HE WAS QUOTING.
WERE TALKING ABOUT KANYE WEST
THE MULTIPLE BEST-SELLING
AUTHOR.
A CONSERVATIVE THINKER.
GOOD TO SEE YOU MY FRIEND.
>> WHAT DID YOU MAKE, AS IF
YOU NEEDED NOTORIETY, FROM
KANYE WEST.
>> UNFORTUNATELY I DON'T KEEP
UP WITH ENTERTAINER SO I HAD
NO IDEA WHAT TO MAKE OF IT.
NEIL: I REALLY ADMIRE THAT.
WHEN YOU HEARD ABOUT THIS,
THERE WAS MORE BUZZ ABOUT YOU
AND MORE INTEREST ON AMAZON TO
FIND OUT WHAT THOMAS IS ALL
ABOUT IN HIS BOOKS AND HIS
THINKING.
YOU SHOULD POP UP ON AMAZON
AND SEE CHANGING BOOK ORDERS
AND BOOK REQUESTS AND ALL
THAT.
HE HAS A GREAT DEAL OF
NOTORIETY, BUT KANYE HAS
GOTTEN SOME THINGS FOR SAYING
HE LIKES THE PRESIDENT, HE
LIKES THE WAY HE THANKS AND
LIKES HIS OUTSIDE THE BOX
THINKING OF AFRICAN-AMERICANS
AND MINORITIES IN GENERAL.
WHAT YOU THINK OF THAT IN THE
PHENOMENON THAT'S CREATED IN
THE WORLD WERE ASKING AMERICAN
VOTERS, HE SAYS THEN
MONOLITHICALLY GO INTO THE
WRONG PARTY.
>> I AM STRUCK BY THE FACT
THAT THE UNEMPLOYMENT RATE
AMONG BLACKS IS THE LOWEST IT
HAS BEEN IN YEARS AND ALSO
AMONG HISPANICS AND OTHER LOW
INCOME MINORITY GROUPS.
BUT UNFORTUNATELY, WE LIVE IN
A TIME WHEN THE ACTUAL FACTS
SEEM TO CARRY VERY LITTLE
WEIGHT AND RHETORIC CARRIES
MORE WEIGHT THAN THE FACTS.
NEIL: SO THIS NOTION, THE
PRESIDENT FAMOUSLY SAID TO
AFRICAN AMERICAN AUDIENCES, HE
WOULD SAY WHAT YOU HAVE TO
LOSE.
IN OTHER WORDS, DEMOCRATS HAVE
FAILED YOU, MAYBE REPUBLICANS
HAVE FAILED YOU IN THE PAST
AND YOU ARE FRUSTRATED BUT I'M
DIFFERENT, YOU'VE GOT NOTHING
TO LOSE.
WHAT DID YOU MAKE ABOUT
APPROACH.
>> IT WAS GOOD TO HEAR A
REPUBLICAN MAKING SOME EFFORT
TO REACH OUT TO THE BLACK
VOTE.
IT'S ENORMOUSLY FRUSTRATING
HOW MANY REPUBLICANS HAVE BEEN
FOR THINGS THAT ARE
DETRIMENTAL FOR BLACKS SUCH AS
THE MINIMUM WAGE LAW WHICH
THEY THINK IS MAKING PEOPLE
BETTER OFF BUT ALL THE
EVIDENCE I'VE SEEN SHOWS LOW
INCOME PEOPLE AND PEOPLE WHO
ARE YOUNG AND INEXPERIENCED
ARE HARMED ENORMOUSLY BY
MINIMUM WAGE LAWS.
NEIL: WHEN YOU SEE THE ECONOMY
THE WAY IT IS, THEY REFER TO
3.9 UNEMPLOYMENT RATE AND USE
ITS BACKWARD PRAISE BECAUSE
THEY QUIT LOOKING FOR JOBS AND
IT AFFECTED THE NUMBER.
YOU GET A SENSE RIGHT NOW THAT
PEOPLE ARE LOOKING AT THIS,
THE ECONOMY IS STILL PRETTY
STRONG.
WHAT WERE LOOKING AT IS STILL
PRETTY STRONG.
>> YES, BUT I'M NOT AT ALL
CONVINCED PEOPLE AREN'T
LOOKING AT IT.
FOR A NUMBER OF YEARS I'VE
SEEN ALL KIND OF PEOPLE
BELIEVE ALL KINDS OF THINGS IN
PARTNERS TO FINANCE TO THE
CONTRARY BMAC.
NEIL: EXPLAINED.
>> FOR EXAMPLE, PEOPLE ARGUE
RIGHT NOW ABOUT THE TAX CUT
SAYING THERE'S AN ECONOMIST AT
PRINCETON WHO SAYS WE CAN
AFFORD A TAX-CUT BECAUSE THE
DEFICIT IS ALREADY TOO LARGE.
THEY SAID TAX-CUT IS IT CUT IN
THE TAX REVENUE.
THERE'S A HISTORY GOING BACK
TO THE 20s THAT CUTS AND TAX
RATES HAVE LED TO INCREASE IN
TAX REVENUE.
IN THE 20s THEY CUT IT FROM
73% ON THE TOP INCOME TO 24%
ON THE TOP INCOME FOR THE 24%,
THEY COLLECTED FAR MORE MONEY
THAN THEY WERE COLLECTING AT
73% BECAUSE PEOPLE PUT THEIR
MONEY IN TAX-EXEMPT BONDS AND
PAID NOTHING.
IF THEY SEEM TO BLINDLY SAY
THAT TAX CUTS AND TAX REVENUES