Trump NOW: Abolish IRS & New Stimulus Checks [DOGE]

an aid to Donald Trump's Secretary of

Commerce just indicated on Fox news that

Donald Trump's goals are very simple to

establish an external Revenue Service

and to quote abolish the Internal

Revenue Service this comes just hours

before the IRS is scheduled to begin

6,000 layoffs now obviously that's a

fraction of the 80,000 new IRS agents uh

that were hired in previous years under

the Biden Administration but it is a

potential sign of a beginning of the

winding of at least at the moment

probationary workers at the IRS and

potentially in the longer term War

workers at the Internal Revenue Service

uh this also comes as Donald Trump just

this morning posted on Truth social that

uh he expects to work towards balancing

the budget giving it a shot he says

balance the budget now let's give it a

shot lots of money coming in from

tariffs uh and this comes at the same

time that a lot on Wall Street are

disputing that we're actually going to

make anywhere near as much money from

tariffs as what it would take to offset

the Internal Revenue Service in fact if

you jump on over to what Bank of America

just had to say within the last 24 hours

take a look at this piece we stick to

the Baseline of tariffs being used as a

negotiation tool that tariffs are

largely being viewed as a negotiation

tool in bilateral negotiations and that

they're likely to be a lot lower than

previously anticipated like instead of

that 60% that Donald Trump was talking

about on the campaign Trail against

China that we'd end up seeing something

closer to the 10 to 20% level uh that

ultimately we might actually see some

tariffs come through because in order

for you to have credible threats on

tariffs at some point you have to

implement something now of course we've

heard that around April 1st and around

April 2nd we might start seeing some

tariffs on chips Autos reciprocal

tariffs non-monetary tariffs basically

trying to uh tariff items that are Vat

taxed value added taxed in Europe uh to

to essentially try to counterbalance or

create more fairness uh in the realm of

international trade uh though Bank of

America goes on to say here that there

is risk in doing this and you have to be

calculated here because tariffs as they

say will likely not fix our spending

problem in America of course this is

where uh doge is working to try to solve

that and there are disputes in terms of

how much money doge is actually saving

whether they've saved 16 billion or 55

billion today hey it's a start that's

obviously why Donald Trump and Elon Musk

have suggested the potential of a 20%

Doge dividend from the savings that are

created but Bank of America makes it

clear like tariffs alone won't fix the

problem if we're still spending too much

so we've got to work to offset some of

that extra spending we'll see though

because the current plans that are in

front of uh the House of Representatives

for tax cuts would generate $4.5

trillion in tax cuts raise the debt

ceiling by $4 trillion do but only cut

spending by two to 2 and a half trillion

so the math doesn't math yet in terms of

how we're going to get enough to remove

the IRS but what a lot of folks are

looking at is hey are we on the

trajectory of potentially eliminating

the IRS and not having to pay taxes hey

even lower taxes would be a start I feel

like all Americans agree with that one

uh but it is interesting because uh you

are seeing as you can see on screen now

uh you're seeing lutnick on Jesse a

water prime time uh says that the goal

is for Doge to cut a trillion dollars

and then we're going to get rid of all

these tax scams that hammer against

America and we're going to raise a

trillion dollars of Revenue and these

sound like enthusiastic claims and

hopefully they can happen uh however

there are also downside risks that come

along with this uh specifically uh on on

the Tariff side so this morning we

actually had a piece come out uh from uh

a here we go

uh from uh one particular institution on

Wall Street called schroers which is

interesting because I always think about

like schroers cat like is it alive is it

dead uh anyway I know that's Shing Ur

but close enough take a look at this so

during the first 100 days of the Trump

presidency we've had a lot of noise so

far the economy is poised to still grow

at 2 and a half% in 2025 and 2.8% in

2026 I know a lot of people were worried

about the Walmart earnings I went

through a lot of the Walmart earnings

cult and it didn't actually sound like

the Walmart earnings were that terrible

Walmart said they saw storm clouds but

that those lifted and they never came

they see a consistent consumer they see

lower uh promotions for 2026 and they

just say that one of the reasons they're

guidance is lower is because they

acquired a TV designer Vio Vio doesn't

even manufacture their own they use

contract manufacturers but they're not

seeing a change in the consumer uh but

they are seeing some losses from that

acquisition and uh some timing around

Easter so I I I know a lot of folks are

pointing at Walmart it's like oh that's

it retail's falling over a better report

would be looking at the retail sales

report which was bad you know for

January that that was a pretty rough

retail sales report it was pretty

negative but who knows one month doesn't

make a trend but look at this excuse me

a little under the weather anyway the US

is still set to lead the way consumer

spending has continued to exceed

expectations the labor market solid

growth so far fed sets is set up to

remain on pause it went through the

entire fed minutes by the way yesterday

the only thing that was really worth

taking out of it was well obviously this

is the Baseline is that they really

didn't give us any forward guidance but

one thing to take away from it is that

they're considering the potential uh

relaxation of the FED runoff of the

balance sheet so remember they're

selling a bunch of bonds into the market

which puts pressure down on the

treasuries market they uh Goldman Sachs

thinks they're going to start talking in

March about tapering their runoff uh and

then potentially starting the runoff in

like a Slowdown of the runoff in May or

June basically selling fewer bonds to

the market which could be supportive to

the bond market and TLT going up who

knows maybe that's hopium nobody knows

not personalized financialized but

anyway uh so uh schroer over here

schinger I know they're not schinger but

anyway uh they remain pessimistic about

China they say leading activities don't

look that good but I really wanted to

talk about this Trump scenario they say

in our aggressive Trump scenario my you

Bank of America doesn't think Trump is

going to be super aggressive with

tariffs but to get rid of the Internal

Revenue Service you would have to be

super aggressive with tariffs because

you're going to have to raise a lot more

money like incremental tariffs are not

going to cut it they're not just not

going to replace uh everybody's uh you

know income taxes so take a look at this

on the aggressive Trump scenario it's

not me writing it it's them right High

trade tariffs and large deportations

together would be stagflationary for the

United States economy and probably tip

the rest of the world into recession

meanwhile we are concerned that Rising

US Treasury yields could expose fiscal

fragilities frailties fra frailties okay

in other much weaker sovereigns such as

the United Kingdom but there are also

upside risks such as AI spending or you

know continued uh declines in oil prices

and potentially more consumer spending

so they upside risks but obviously if

we're trying to go for a full you know

100% external Revenue Service and 0% %

Internal Revenue Service we would

probably have to be in this aggressive

Trump scenario which at least

schroers suggests could be stationary or

recessionary either for the United

States uh even the Federal Reserve is

concerned a little bit about uh the

uncertainty of what kind of trump are we

going to get for example fed bosk spoke

this morning and said that policy could

either boost growth or it could hurt

growth there are quote pretty

significant uncertainties ghoul spe from

the FED spoke this morning and said that

more tariffs the more tariffs look like

a CO style shock the more nervous you

should be and I think that's why the

market is selling down a little bit

today in fact in my course member live

stream this morning uh we were live

while we saw Tesla bounce at this line

so we went for call options on Tesla

obviously not personalized Financial

advice but I sent a trade alert on the

call option right right around here uh

on Tesla not a massive move yet so far

but you can see that solid bounce off of

the line here uh and so we've been

watching these closely remember you get

lifetime access to these course member

live streams and alerts if you're part

of the courses over at me kevin.com

paler took a little bit more of a hit I

made a full detailed video on paler on

the channel make sure you watch that

just type in into YouTube meet Kevin

paler and you'll see it uh and you'll

get my full thesis there a quick spoiler

I think the selloff on paler is

overblown if you're just worried about

the dod and uh you know sort of

government potential spending on palente

here actually think the government's

likely to spend more money on paler not

less but you know watch the video

because there's some other issues as

well at play momentum valuation blah

blah blah all right so what else do we

have uh Apple announcing the iPhone 16e

to me this is actually a sign of

deflation yes there are missing features

it doesn't have mag safe which is

totally lame like I love mag safe uh you

know no wide lens T lens honestly those

suck at low light anyway I don't really

like them the one knit of brightness on

the screen if you have an old phone

you're not going to know the difference

it lacks Wi-Fi 7 and 6E nobody gives a

flying hoot because people's routers at

home probably don't have Wi-Fi 7 or 6E

anyway unless you're a tech bro so I you

know Wi-Fi like 5G or or you know Wi-Fi

5 is good

enough over the 2.4 upgrade excuse me so

to me you're getting 98% of the phone

for the average user not the pro user

Pro user going to be like man I want

those features I want those features

right but I think 98% of people don't

care you're getting 98% of the phone for

25 % feature to me that's a sign of

deflation that is good that is a good

kind of deflation right some people see

it also as an upgrade Catalyst for Tesla

or for Apple which is great speaking of

Tesla there's a potential rumor that

there could be some kind of announcement

between Apple and Tesla today don't know

what that is yet so we'll stay tuned for

that also talk about potentially Tesla

shipping Teslas to India uh despite the

Indian tariffs on cars over there so

some people are excited about potential

growth for Tesla there uh so we'll keep

an eye on that as far as uh the iPhone

though overall I actually think it's a

good deal you know the and it's also the

first time uh Apple is using their

in-house modem so a little bit of a slap

in the face there to uh Qualcomm

regarding the cellular modem the data

modem right uh speaking of Q things the

quantum chip announced yesterday by

Microsoft it's another research piece uh

it's a research announcement that I mean

these these devices are nowhere near

stable yet to to do anything functional

we've got eight cubits of stability

we're going to need hundreds of cubits

of stability to actually do anything

functional uh and so I can't help myself

but feel like this was really just a

marketing Push by Microsoft one of the

reasons I think that is because the

moment Microsoft announced it you

started seeing people like I Justine

post these marketing videos of you know

how they got access to this chip and how

they were able to walk through the

facility and how great it is all this

Quant some technology it's not just her

there were other uh uh you know

podcasters that were posting on about

this product as

well to me it just smells a little bit

more like let's have a social media

marketing push than actually do

something super functional uh and I I

think it's a way of them trying to S say

that look we're trying we're just trying

to catch up with Google yes we know it's

just a research project it's not a

threat to cryptography the willow chip

that Google announced had 105 cubits you

you need a lot more cubits to have error

correction uh now Microsoft is

suggesting that you know they created a

new phase of matter I question this I

think you know just because you're

moving between phases over time doesn't

mean you've created a new phase but

whatever uh so I don't want to sound

negative on this but the bottom line is

you're still years to decades away from

Quantum Computing Jensen from Nvidia

thinks we're 15 to 30 years away from

Quantum Computing Microsoft says that

this breakthrough that they found could

actually get us down to years rather

than decades I hope so because I think

Quantum Computing would be great for

Humanity but am I going to go run into

Quantum Computing stocks now because of

this no mind you that most Quantum

Computing stocks today used an use a NE

Quantum Computing which is kind of the

more basic optimization solving Quantum

Computing and it's not really fulls

scale Quantum Computing it's like the

the lowest bar of quantum Computing you

can get access to and so be careful on

those stocks in my opinion because I I

don't think that they're they're truly

full Quantum stocks these new

Innovations from Google and Microsoft

these are gate based models these are

hard Quantum Computing problems uh and

they they will take many years to to

Really fulfill so don't get me wrong I

don't want to sound bearish on Quantum

Computing I just don't think today is

the day to run into Quantum Computing

stocks just my take again not

personalized advice uh then of course

there's a lot more drama regarding

Ukraine uh apparently now meetings

between the United States and ziny

getting cancelled zinski Banning truth

social in Ukraine uh Elon remember he

posted in December of 2024 post a bit

more positive beautiful content on

social uh well now there's a lot of

drama going on about the space station

you've got uh Commander from the

International Space Station and

astronauts uh calling out Elon Musk on

Fox News who says that astronauts were

left in space for political reasons he

says what a lie and from someone who

complains about lack of honesty from the

mainstream media so he's slamming Elon

Elon replies and says you're fully

SpaceX could have brought them

back several months ago I offered this

directly to Biden and they refused

return was pushed back for political

reasons idiot now Andres replies and

says Elon I've long admired you and what

you've accomplished especially at pic

and Tesla you know as well as I do that

Butch and Sunni those are the two

astronauts by the way are returning with

crew n as has been planned that's you

know SpaceX which has been planned since

September even now you're not sending up

a rescue ship to bring them home they

are returning on the Dragon capsule that

has been at the International Space

Station since September this is why they

argue that the astronauts aren't

actually stuck that their return capsule

is there they've just chosen to extend

their mission so the return capsule has

been there since September Elon says hey

they could have come back in September

and they're being left for political

reasons NASA is saying No thank you for

the return ship this is great but we're

just going to do some more projects

while we're up there and then we'll fly

back I I don't know there's there's a

bunch of drama going on about this you

got to have to make up your own opinion

on this so anyway that's my take on

what's going on today thanks so much for

watching if you found it helpful make

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congratulations man you have done so

much people love you people look up to

you Kevin PA there financial analyst and

YouTuber meet Kevin always great to get

your take