Hey, guys, Carlos Cortez here, coming at you from Table Rock, Missouri, at my friend’s lake house. Wanted just to say happy fourth to all of our listeners, all of our patriots that are out there. It is my prayer that not only do you honor America’s birthday, but that you can literally pray for our country. Our country is on a lifeline right now. It’s. It needs a lot of prayer. We need to bring God back into our country more than ever. So let this celebration, hopefully it’s with your family and your friends and people that you love and cherish to celebrate our freedoms.

But more importantly, that we can pray that the spirit of America will stay real and that God will be, will be instilled into our everyday society as Americans walk away from biblical principles. So it is my honor to literally, literally pray us out and just have the ability to have our freedom of a religion. So with that being said, God bless you guys. I hope you enjoy this episode with the fourth tier. And enjoy, enjoy, enjoy your fireworks. And remember that England sucks. All right, all right, all right. I Carlos Cortez here. Another episode of Scriptures in Wall Street.

I am happy. I’m finally happy. June is over with. You know, the lgbt community has stolen Father’s Day. Not only do we lose a month, right? We only get one day. The veterans only get one day. Our wounded warriors get one day. But the lgbt community literally gets a whole month. Father’s Day, one month. Mother’s Day, one day. Sorry, Father’s Day, one day. But finally, we can put the six colored rainbow demonic flags away and celebrate America, our independence. So if you’re watching this, happy fourth. Hope you are spending a lovely time with your family. I’m actually taking my family to the Ozarks in Missouri at a friend’s house.

I’ll be sending a bunch of pictures on that. Follow us on Rumble, you can go to our new channel on Rumble, scriptures and Wall street. If you click and like and subscribe, you can see some of the back end content, the exclusive content on my channel. No cost to you. Go ahead and subscribe while it’s free. Scriptures and Wall street on rumble. And I share videos of my kids playing hockey. Just me on a guitar, just me. Everyday life at church with my wife, going out to eat with the kids, what have you. Pretty fun stuff.

And sometimes I’ll just pull over and just talk about a building that I’ve seen that’s vacant or some type of idea. Never know when I go live. So catch me over there. Today I wanted to talk about the number one thing with your retirement. And that is going to be the problem that everyone has. Every entrepreneur, every citizen, every person that walks this american country, unless you’re an illegal, is taxes. And with the, the debacle of the debate for Joe Biden, it’s pretty scary. Like, I’m reading things right now. I’m pre recording this because I won’t be in the studio or the 4 July, but I’m pre recording this and I’m already looking at, they’re setting things up.

They’re already setting things up for Kamala there. I guess Joe Biden is, is meeting, is literally meeting his family and Martha’s vineyard. They’re discussing his plans for this campaign. He may pull out and it might be, it might be Kamala running the, running the show. I don’t know. I don’t know, guys. But the Democratic Party is scrambling right now. It is completely Armageddon. And we don’t really, really know what’s going to happen. The Democrats, I mean, check this out. They are a scrambler. They don’t even know what to do. They, they’re just lost. And they don’t know what they’re doing in the White House.

They’re afraid they’re going to lose the Senate, the House, the White House. They’re literally are afraid of everything. And I’m just kind of like laughing, grinning with a smile on my face in the back in here, because it’s blowing up in their face. Their plan, their puppet master, whoever’s running the show, all the Luciferians, they don’t even know what they’re doing right now. The, the guy that they had all their money on is literally dying on, on national tv. And right now, from what I hear, sources are telling me that he is in Martha’s vineyard with his family trying to figure out what, what he’s going to do, possibly even be in hospice by the end of the year.

So let’s take a look at it, guys. I, uh, I want to share this video. This was before I found out that he was going to Martha’s Vineyard. The debacle. I agree with Kim that they did not accomplish what they were hoping to do with their bases or crucial support. No. In terms of someone new coming in at this late point, it’s a process. I don’t think it’ll be resolved in a day or two or three. I think we’ve got to see how polls look. We’ve got to see how the party is. But I can tell you, and I’m sure Kim would agree that during the night there were an awful lot of emails and texts from Democrats who are now really worried about losing the House, the Senate, and the White House.

Kim, do you agree? Greg, good to see you again. It’s been a while. I completely agree. The text and the emails started about ten minutes after nine. They continued through 01:00 a.m. this morning. I turned it off after that. It will be a contentious process to select someone other than Biden to run against President Trump. But my betting is that’s where most of the money in the Democratic Party and most of the core supporters, the leaders are this morning. It’s very difficult to avoid the fact that President Biden no longer seems viable in this election. We’ll have some feedback.

He’s in North Carolina. He kept that schedule. So we’ll have some feedback this morning. I agree with Greg. It’s very difficult to come back from this. Greg, what does this mean for our viewers out there? The investors trying to figure out if we do see Biden drop out of the race, the Democrats ultimately end up putting somebody else in front there to run against former President Trump. Is that going to add instability? Does that add volatility? How do you see that playing out? Yes, volatility, instability, you name it. Kamala Harris would logically be next in line, but as you know, her polls aren’t good.

There’s a feeling she may lack the gravitas for the job. As far as Gavin Newsom, he’s in the middle of a huge budget crisis in California, self inflicted, I might add. And I don’t see newsom. So they’re going to, if they decide they have to look elsewhere. I think there are several governors headed by Gretchen Whitmer of Michigan, maybe Josh Shapiro of Pennsylvania, but they’re going to have to look at other governors. Kamala Harris is not a shoe in. Yeah, you mentioned two governors in major swing states as well here. You know, another big election issue hit last night, and that was Trump’s tax cuts, which are set to expire next year.

Trump touted the success of his policy while Biden defended his own stance. Want to play this quick clip and now get your reaction on the other side, Kim. The tax cut spurred the greatest economy that we’ve ever seen just prior to Covid and even after Covid, we took in more revenue with much less tax and companies were bringing back trillions of dollars back into our country. The country was going like never before and we were ready to start paying down debt. The fact is that I said nobody even making under $400,000 had a single penny increasing their taxes and will not.

And if I’m reelected, that will be the case again. All right, so one element where AI could probably be used, especially in fact checking in real time, perhaps here, Kim, as you’re hearing all of this discussed, what is this setup for what Americans should expect to be the core and central debating point around taxation? It’s a good question. It will be relevant. It will be a lot more relevant in the first half of next year than it is today. And it’s certainly not important to Democrats right now. But to answer the question, fact checkers paradise last night throughout this debate, that’s not the story.

The story is one guy prevailed, Trump in a setting that was negotiated by the Biden team, and the other guy did not show up. The person we saw at the State of the union was not available last night. Greg’s right. Democrats are going to be thinking about who replaces him. Another name you have to throw into the mix, whether you want to or not, is Hillary Clinton. She will gather some support immediately from donors and some of the leaders of the party. Do you think she could be a candidate there, Greg? I think that if the party is desperate, what’s the old saying? Desperate times require desperate measures.

You can’t totally rule her out. I kind of rule out Michelle Obama. She hates politics. I think that would be unlikely. But, yeah, I’m sure there’ll be a boomlet for Hillary. My take would be that within the party, she’s pretty much a pariah right now. Okay. And so Brent’s point is right, but, you know, it goes back to something he and I have both said. The way forward is contentious for Democrats. There’s no way around that. Realistically. There is absolutely no way to do this smoothly. But they have work to do and they know it. I mean, is there either side that’s actually getting across an agenda at this juncture? K ma, go to you first.

You know, I’m going to go back and gently dissuade you from thinking in those terms. No one else is thinking about that inside of politics this morning. On the democratic side, it is all crisis management. On the republican side, it is taking advantage of the momentum that was handed to them as a gift and protecting it, growing it as they go into Milwaukee in July. To answer the question, policy agenda hasn’t really been foremost in this campaign, which has been a campaign from home for both guys for different reasons. And I don’t expect policy to matter much in the next week.

Or two. Greg, a lot of the same question to you. I mean, with the additive that a lot of people who are trying to figure out exactly what they saw last night and the lack of pushback on kind of both sides there ultimately, and clearly, that Biden missed on some of the alley oops that should have been there for his own camp. And I imagine many people still trying to figure out what black jobs actually are at this point. All these things considered, I mean, there were several snafus. And clear as they were, are either of these candidates in a good position to govern for four years? Should they take office? No, they’re not.

They both have huge flaws. And I think it will be difficult. Let me go back to one point really quickly. You mentioned tax cuts. They were discussed last night. My sense is, in the last few weeks, a lot of members of Congress, including Republicans, are beginning to get cold feet about extending the, or even expanding the Trump tax cuts. That’s another four or $5 trillion. And I think a lot of members of Congress are getting worried that our total debt of 34 trillion is unsustainable and we may have to look at a more restrictive fiscal policy.

All right, Kim Wallace, senior managing director of 22 v research, and Greg Valliere, who is the chief us policy strategist of AGF Investments. Great to have you both here, and thanks so much for your reaction to what we saw yesterday evening. Absolutely a stinking joke. They’re worried about. They’re worried about the money. Well, if you really worried, then why are you sending money to Ukraine, Taiwan, Israel? And we’re not talking about a few million. We’re talking about our children’s children’s livelihood. Like our children’s children’s are growing up with negative checking accounts, nothing to show for because the tax haul is so stinking imminent, like it is going to happen like a freight train.

As a matter of fact, this is what the reason why I say I brought this up, because this is the reason why you have problems with your money. This is the reason why you have problems with the iras, your 401 ks. This is why, when you’re an entrepreneur, the number one thing that you’re going to fight when starting a business is legit, the taxation. So what I want to show you right now is something very, very jaw dropping. What if I told you that we used to have a 90% tax? What if I told you? Would you believe me? You don’t have to believe me.

I’m just going to show you right now. So believe it or not, in 1944, we had the highest marginal tax bracket was 94%. 1941, it was 81%. 1944, 94%. This is an atrocity. 1940, 519, 63, it was 91%. 1964, the highest marginal tax bracket was 77. Granted, you had to make a ton of money back then, and so we have taxes at a discount right now. And yes, in the seventies. In the seventies, we had a tax, a highest marvel tax break of 70%. Like, taxes are at a discount right now. When I was born, we had a high marginal tax bracket of 50%.

This is the us history of taxation. So when Joe Biden says, oh, I’m not gonna. I’m not gonna tax anybody that has made under for $400,000. But the iras and the 401 ks are considered ordinary income. And when you pass away, when you pass away, your ordinary income is considered. I’m sorry, your iras is considered ordinary income. And guys, we got. We got a lot of problems that we got to talk about when it comes to the taxation. Yes, we know that the Trump tax is going to expire in 2025. We’re going to have a video on that.

We’re going to talk about that. But let’s set that aside right now. The number one issue with your money is going to be the taxes. So how do we avoid the taxes? The iras are all set up. The 401 ks are all set up as a stinking scam. You start your career. The american dream. You graduate college, you get a job for 2030 years, you invest in a 401k, they give you a match. Even if you open up a Roth. Four hundred one k, the match goes to a tax deferred bucket. And yes, the Roth, according to the IR’s and the government, they say that your money is going to grow tax free.

But is it really? What happened to the tax free bonds that were out there? The tax free bonds? They are tax free. Yes, you can get tax free income from it, state and federal. But what happens is when you start to take Social Security, remember, Social Security is a welfare program. When you take Social Security, the taxation on those bonds actually go towards the cost of your Social Security. So they’re not tax free. And don’t forget that if you have municipal bonds, they do count towards the calculation of your Social Security. I know that’s a mouthful, but I can’t stand when these politicians say we are going to lower taxes.

No, they’re not. And even if they do, they smack you on the back end when it comes to your retirement. And all you got to do is simply just look at the tax rate, the marginal tax bracket. So fast forward to now. We’re in 2018 to 2022. The last one, we’re at 39%. This says 37. This needs to be updated. This article was written in 2022. But yeah, we’re at 39% right now. Highest marginal tax bracket. And what I want to tell you is that you got to start converting your iras and your 401 ks. If you got over 250,000, then what we need to do is we need to convert this into a 7702 friendly tax plan.

We do, we do an IRA conversion. And basically what this does is we’re buying a death benefit with a life insurance carrier of some sort. We take your iras and we skin them. We divide it in five years, we take a fifth out and we purchase a 7702 friendly life insurance contract. Cash value life policy. And simply what we do is we fund this cash value life policy over five years. We’re pulling money out of your iras after that first year. We’re going to borrow against that death benefit tax free and we’re going to pay the taxes.

We do this for five years. No matter how big your ira is, we’ve done it with millions of dollars. We’ve done over a quarter million dollars. We’ve done it with massive amounts of IRA money and we, we simply just do an IRA conversion, borrow against the death benefit. We can use your health to generate a tax free bucket for you. Now in this tax free account we can invest in index or borrow against index, so to speak, and we can have these accounts grow to seven to 14% annually and you can borrow against it, loan against it.

If you get sick, heart attack, stroke, prostate cancer, that death benefit now becomes a tax free benefit. Now we’re not buying the IRA strategy for the life insurance component. We’re buying it for the tax benefits. So a lot of people don’t know this strategy where we can literally convert your iras and 401 ks into a tax free bucket, borrow against the death benefit to pay the taxation on years two years, three years, four years, five, you’re done with your IRA. It’s now in a tax free bucket. And, and voila. When Social Security comes around, you don’t have to worry about this highest marginal tax bracket because we simply got rid of the IR’s mandates were under the IR’s codes.

We’re under the 59 we know, no longer 59, no longer 73 rule where you have to take a requirement on distribution. You can loan against it, you can borrow again, a lot of people call it infinite banking. You could you could. If you need to buy a home, you can borrow against your policy. If you need a, if you need to buy a car, if you need a loan money out, you still can. Seven. Seven or two allows you to borrow against your cash value life policies. Now, I don’t recommend this for all of, all of America.

I recommend it for someone that has generally a decent health, that has at least a quarter million dollars in your retirement, that is okay. Spend in the next five to seven years basically dwelling down their iras and converting it into a tax free bucket. If that’s what you want to do, I can run illustrations email me at info at cortez wm.com. we literally can have an institution pay the taxes on your iras. Guys, I’m telling you right now, the reason why they’re sending all this money to Ukraine and Taiwan is because they’re going to tax the heck out of your iras and 401 ks.

It’s coming. It’s coming. It doesn’t matter which politician, if Trump gets in, if Biden gets in, they all have their different scenarios. I’m going to go turn to the woke media here with barons and let’s check out this video on what they’re saying about the Trump tax situation. So bear with me here. The 2017 Tax Cuts and Jobs act brought a major overhaul to the US tax code. The corporate tax rate was slashed to 21% from 35%. Individual income tax rates were cut and the standard deduction was increased. Now, analysis in 2018 found that the cuts would boost the economy, but the effect would fizzle out quickly and the price tag would be huge.

The bill is expected to add nearly $2 trillion to the deficit by 2028. Many of the household tax reforms included in the bill expire in 2025, meaning that whoever wins the election will have the opportunity to either fight to extend the legislation or let it lapse. Trump has shown interest in making the tax rules permanent. Biden would likely preserve some of the tax cuts, namely those benefiting households making less than $400,000 a year. The cuts have the largest benefits for the wealthy and for small business owners, but there are also provisions that benefit middle income Americans, like the increased standard deduction in the child tax credit.

An important effect of extending the 2017 tax cuts is that it’s estimated to cost an extra $3.8 trillion over the next decade. Without significantly cutting services, the federal debt would balloon to 211% of GDP by 2054, compared to about 100% of GDP right now. Trump has actually pledged to make even more tax cuts. If that happens, obviously the deficit would grow even faster and the debt would be even larger. Biden’s proposed alternatives include several programs to lower taxes for those making under $400,000 a year, while also raising taxes on corporations and wealthier americans. Efforts to target corporations include raising the corporate tax rate to 28%, increasing enforcement of tax avoidance by multinationals, and quadrupling the stock buyback tax.

His plan would also affect the highest earning americans, including a 25% minimum income tax on billionaires. Altogether, Biden’s policies would raise about $5 trillion in revenue by 2034. While there are some overlap between the two candidates goals, the long term effects on the federal debt and deficits couldn’t be more different. So here, here’s an example of a graphic of a client in Colorado. Imagine if we just made 5.21% in a stock market, right? We kept everything we had 200. What was it? $284,000 in Ira. We just kept everything in a market. Yeah, we can grow that Ira.

Let’s just say we made 5.21% Na Ira, or 401K. Now, he took out $451,000 throughout his age. He lived to age 100, hypothetically speaking, 451,000. It grew. He maybe he took five, 6% out a year for the rest of his life, all the way up to age 100, and he would have $451,000 in distribution. It’s not a bad lifestyle. He paid $150,000 in taxes. Now pan over to this side. Pan over to this side here on the left hand side, the green side. And what you’ll see is that this particular client, same amount, 5.21 gross, in the same type of rate of return in a tax free parking spot.

He had 454,000 in tax free distributions. He only paid $78,000 in taxes versus 150. And when he passed away, his family got tax free, 610,000. So he literally made $4,000 more in taxation plus tax free. So probably another 100 and 5200 thousand dollars roughly in taxes. Because if you have 454,000 in tax free income, that’s probably, like close to $800,000 in overall gross income. So you got to look at. At that aspect. But this is the power of having a conversion working for you. And we can do this with our clients. We can do this all day, every day.

I’ve been doing this for close to 20 years. You just have to give us a call to make sure it’s right for you. If you have at least a quarter million dollars and you want to start plucking away from your 401 ks and your iras, give us a call, 813-448-3446 or simply visit on online at cortez wm.com. also, if you book a meeting with us, I’m going to hook you up. My free book, for now, it’s free. Wrote it last year. It’s about the american first retirement plan. Never tax me strategy is what the strategy is all about.

But I want to send this book to you. So all you got to do is book an appointment with us, Cortez wm.com, or call us. 813-448-3446 the major problem in retirement legit is going to be your taxation. Doesn’t matter if Trump gets in, Kamala’s in, or whoever, Hillary, whoever the left is going to try to do. Obviously, all these social programs, funding Ukraine, funding, uh, Israel, funding Taiwan, they’re doing that because you don’t own your 401K is you don’t own your iras. They can do that because they have 30, $40 trillion in retirement accounts that’s never been attacked, that’s waiting to get taxed.

And this is why they say, oh, yeah, we’re going to reduce taxes. Because they know, they know that the mainstream population does not know how to convert their iras. They know that they have a honey, honey pot where they can dig in, churn your accounts, take the money, impose fees, regulations, and rules where you can’t even access it. And you gotta be forced in a tax gauntlet and a tax grinder. And you will pay. You will pay the taxes is what, what do they want? The socialists, the cloud schwabs of the world. You will own nothing and you’ll be happy.

This is happening right now on a taxation side. I can’t show you any clearer than this. Like, you want me to show you charts? Like, I, I mean, taxes are coming, dude. Taxes are coming. Like that is happening, man. Like, it’s like straight guarantee tax is going to go up. It doesn’t matter who’s in, because the left wing, the right wing is still a part of the same stupid freaking bird. And so, yes, I don’t trust the government with my hard earned money. Even, even if you buy these puppies here, right, the precious metals, even if you buy these and you buy it inside of IRa, that’s the dumbest thing you could do because the government owns iras and they know where your precious metals are.

It doesn’t matter if it’s in Dallas or Texas or, or Delaware or some statutory trust in Montana. It does not matter it’s inside of an IRA. The government owns it, period. And now they know where your precious metals are at. But if you do want precious metals, I highly recommend that you have it shipped to your home. You keep it. Personally, we use Cortez wealth gold, which is ran by Genesis, great, great faith based company. Call them. Go to Cortez wealthgold.com right now and purchase a few bucks worth of precious metals delivered to your door. They can handle hundreds of calls, and they’re great.

Let them know that I sent you there, and they’re awesome, and they’re faith based, and we love that. And they’re not here to screw you over. 2030, 40%, like some of these other gold dealers. And you got to be careful with the gold dealers, because some of them just only offer gold, and they don’t offer palladium. They don’t offer platinum. They don’t offer silver. They only offer gold. So you want to be able to diversify between different metals, and you also want to get private metals. You don’t want to get the public ones, the bullions, american eagles.

Because at the end of day, the government. The government can take it. They’ve done it twice already, so be careful with that. Well, guys, I. I wanted just to tell you that the taxes are the number one thing, and there’s so many strategies that we can talk about, but the wealthy people, they find ways not to pay taxes. And now we can offer that to everyday Americans like you guys. The average Joe, whether you have a million, few million, or just a quarter million dollars, it doesn’t matter. Give us a call. We want to help. Again.

This never tax me strategy, what I’m talking about with the rye rate conversions is best if you have at least 250,000, hopefully over 300,000, because the numbers work out great. We don’t want to send every single penny to an insurance, a tax free insurance contract. We want liquidity. The other downside about that is you want to wait at least five to seven years before you start withdrawing money so that you can have that cake baking in that tax free bucket. So if that’s you, give us a call. We want to help you. Doesn’t matter what age you are.

We want to help you. And you can borrow against it, loan against it. You might as well use your health to generate your wealth. You might as well start converting now, because if you don’t, the government’s going to take half of your money by the time you retire anyway because taxes are going up. You saw the grid. I showed you, the chart, the chart says that we’re at an all time discount right now. And they were as high as in the seven seventies percentile in the seventies. I mean, it’s freaking scary, like what they could do.

If you have a 401K, an IRA, you literally are handing your money to the IR’s saying, hey, take it at unknown tax brackets. You’re getting in a partnership with the government. So it’s time to do something. Now there’s a lot of instability with stupid face Biden and even Trump, and we don’t even know who’s going to be in a DNC. We don’t even know what’s going to happen to the Senate. But one thing I do know is taxes are going to go up, wars are going to happen, it’s going to get very, very volatile. Again, I’m not fear mongering, I’m just letting you know the hard truth, and the hard truth is that we need to be proactive.

This is not your CPA telling, this is not your financial advisor telling you. This is straight raw. The number one problem in retirement is the taxation. Also the number one. Number one. The number one worry is taxes. But number one problem is actually your, your health, your long term care builder plan for a catastrophic event. But we want to help everyday Americans with, with their taxation issues on their retirement. So give us call 813-448-3446 enough about that. I think you understand that. I think we all can agree that taxes are going to go up. I want to end this with some scripture.

As you guys know, I’m reading from the 31 decrees of blessings. If you guys want to follow with me, I’m on day 25, so only have five more days, six more days. His faithfulness, not ours, has saved us and we have received God’s perfect righteousness. Jesus came to restore you to all that Adam and eve lost in a garden. When you said yes to him and received Christ as your lord and savior, he restored you to the full fulfillment of a relationship with your heavenly Father. He brought you back into the place of being made in his image and representing him on the earth, including his character and nature.

Thanks to Jesus, you have been made the very righteous of God in Christ. Second Corinthians 321. What is most amazing to me about this is that we are his very righteousness. It’s not something we need to do. It’s not something we need to make happen now that we’re saved. Jesus has done it for us. He’s made us righteous. We simply need to agree with this truth and allow it to come forth. Amen. I love, I love this, this devotion. And I love that word because we’re in July, we’re done with pride month. And we are made in his image.

We are made in his image. And I hate that. A beautiful rainbow that the woke left tries to make it pure, pure evil. Something so precious, God’s promise to us that he is going to come back. That you know, these people that are abomination to God that are using Six Flags or six colors on the gay flag and it’s just an abomination. I don’t care who it is. And the church is getting weak and they’re afraid to say it. Uh, so anyways, I really appreciate you guys. Don’t forget to like and subscribe. Don’t forget to go to Cortez wm.com, book an appointment with us.

Let us get you on an IRA conversion strategy. Let us make sure that your principal is protected, that you’re getting a reasonable rate of return, that you’re able to have transparency. Number four, that you’re not funding China or Taiwan or any other communistic country. And number five, you’re working with a fiduciary that believes in what you believe in. If that’s you, give us a call. Visit us at cortez wm.com. if you would like to download a free guide, you can download our free guide at America first retirement plan.com. you don’t even have to call us. Just go to americafirstretirementplan.com.

that’s how I wrote this book, many of the strategies. You can download our free guide at America first retirement plan.com or give us a call 813-448-3446 guys, I’m out of here. God bless you. And I’m going to be sending pictures on our rumble channel. If you’re all, if you subscribe to our rumble channel, I’ll show you videos and pictures of the boat and tubing and our fourth, I’m going to be eating some hot dogs. Hopefully I’m not too, too fat by the next time you see me because I’m still, still working out with Josiah. I’m still on my calorie deficit on a day to day basis.

But man, I love a good hot dog. So hope you guys enjoy the grill. Hope you are spending this America, America’s birthday with your loved ones. I’m out of here. God bless you guys. And we are, like we say in Spanish, estamosablando.
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