In conversation with President Trump

**Jason Calacanis** (0:00)
Here we go.

**David Sacks** (0:03)
Hello, Mr. President.

**Donald Trump** (0:04)
Hey, Tim, I love that house he has. I love David's house.
That made the biggest impression, huh? Thank you, sir.

**Jason Calacanis** (0:12)
I heard you have a pretty nice house, too.

**Donald Trump** (0:14)
Yeah, I have. We're in a nice house.

**Jason Calacanis** (0:17)
Well, it's only worth $18 million, right?

**Donald Trump** (0:19)
Well, I know. The judge said $18 million. People said Palm Beach has gone down a long way.

**Jason Calacanis** (0:43)
Thank you . Thanks so much for sitting down with us, Mr. President. The All-In Pod is basically the four of us having conversations. It's kind of a spectrum of different views.
We got sort of like a little bit of some Fox News and then some MSDNC at the same time.

**Donald Trump** (0:58)
Keeps it interesting.

**Jason Calacanis** (0:59)
Yeah, absolutely. Anyway, Chamath and I, we had a great time at the fundraiser that we did a couple weeks ago. I think it turned out great.
And I heard the Winklevoss brothers are actually announcing that they're donating a million dollars each in Bitcoin to you tomorrow. So I think that's a great result to come out of it as well.

**Donald Trump** (1:21)
Got to meet them for the first time at your house and terrific, terrific. They did well. They might have started the whole thing. I don't know.
I don't know if that court case was proper, but they were very nice, both of them.

**Jason Calacanis** (1:34)
Absolutely.

**David Sacks** (1:35)
Really nice guys.

**Jason Calacanis** (1:36)
You know, and I think maybe this is a good place to start in our conversation is, you know, one of the things I think we heard a lot at that dinner was just the difficulty that people in business were having under this Biden administration. You got the crypto guys who just want a framework. They just want the government to tell them how to operate and they can't get that. You got no M&A happening right now in tech, the real estate guys, they can't get loans because the interest rates are through the roof and there's a credit crunch. So I think one of the common themes we just heard across that dinner was that it was just so hard to do business right now.
And I guess maybe a good place to start would just be, you know, what's the number one thing or maybe the top three things that you would do to kind of get things moving again, you know, if you're reelected?

**Donald Trump** (2:25)
So I'd say regulation, regulation and taxes.
You know, I gave the biggest tax cut in the history of our country a lot to business. It took them down from, look, as you know, they were paying people, companies were paying 40%, 45%, including state and city taxes in many cases.
And we got it down to 21%, we'd like to get it down lower, actually, but we got it down and the revenues were better than ever. Even with the lower rate, we had a record revenues, which tells you a little bit about that. But also the regulations and when I asked a lot of people, a lot of big people, a lot of corporate types, big corporate types, I said, have you had your choice between just the taxes or just the regulations? Where did I do better? He said the regulations. I was the biggest cutter of regu- in four years, I cut more regulations than anybody by four. Nope, by far not even close.
And when I spoke to different people about the regulation versus the taxes, I don't think I've ever had anybody say- and the taxes were a massive cut, you know, from 37%, 38%, if you look at it just there, to 21%. I don't think I ever had anybody say that the taxes were more important than the regulation cuts. I made it possible to build, I made it possible to do things, to invest. I was able to get companies with a lot of money outside of the USA to bring that money back in. You know, we cut the rate and it was crazy. The rate was like 55%, so that means if they bring the money back, they lose half their money before they even start. But it was also impossible from a standpoint, a structural standpoint, a legal standpoint, it was very hard.
And they were able to bring back, I mean, Apple is an example. They brought hundreds of billions of dollars back from other countries into the United States and invested it here. So, but it's very interesting because I ask the question all the time, which was more important? And almost everybody said I did an even better job. And I got the biggest tax cuts, the biggest tax cuts, bigger than the Reagan tax cuts, but they found regulations and the regulation cuts were even more effective. And that's where we had the great economy and that's where we had the most jobs ever produced.