RADIOMarch 14, 2024

THIS New Rule Could Make CRIMINALS Out of Small Business Owners

Did you know the Corporate Transparency Act could make small business owners CRIMINALS? Former investment banker and “You Will Own Nothing” author Carol Roth joins the Glenn Beck Program to explain how the federal government is completely out of control. She also says she'll join Glenn in a lawsuit to end this UNCONSTITUTIONAL act.

Transcript

Below is a rush transcript that may contain errors

GLENN: Again, another horse on the highway. The Treasury Financial Crimes Enforcement Network is looking to collect your information on the beneficial ownership information, that you have to report.

And I -- I am just -- I am there at FinCEN.gov/BOIfacts. And I have no idea. No idea.

And I'm -- I'm the one, I'm one of them that has to do it. Stu, your wife has an LLC, right? You have an LLC?

STU: I believe. I don't remember if it's structured that way. But, yeah. I believe it is.

GLENN: So anyone with an LLC. Even if you're not using it. You have to file, right?

CAROL: Yes. It is every reporting entity. So if you're a single member LLC. S-Corp.

C Corp. Whatever kind of instructor you have.

If you're not exempted, which means you don't have 20 employees, or $5 million in revenue, or fall into one of their other categories that they exempted. You know, somebody like a hedge fund, of course, is not included.

Because why would they be, right?

GLENN: Yeah. There's no money laundering.

CAROL: Right. So if you have a reporting entity. That's why I said, it sounds like there are other reporting entities, like housing associations that may get caught up, because they file something with their state.

So if you're a reporting entity, you have to file. And I don't know if you notice, on that FinCEN.gov/BOI homepage, that the first alert they had is a fraud alert. Because, of course, people are taking advantage of this. And trying to --

GLENN: Because nobody knows anything about it.

CAROL: So recommend tell you about the media. First of all, thank you for being a platform of truth, and one that supports small businesses. Because we've been talking about this. But none of the mainstream media has done anything to alert people to this.

However, Glenn, When the state of Alabama Supreme Court said that we're going to rule this unconstitutional, what did they say?

This is a blow to corporate transparency, this is going to make it harder to fight the cartels.

You tell me, what cartel, and what money launder, is self-reporting to FinCEN?

Okay.

GLENN: Well, let me also say this.

We have been talking about a giant crime family, that is money laundering for a long time.

But because it was ten for the big guy, or five for the big guy, he doesn't have to report this!

Because he's already over $5 million.

So if you -- I mean, if you're small time. Small time money launderer.

Then you have to do it. But if you're an honest money launderer, you don't have to file. If your money laundering is forever 5 million. Unbelievable.

CAROL: Well, that's the thing is that is really frustrating. They have tools that alert them to suspicious activity. There are suspicious activity reports from the banks, which the Biden family had well over 100 of them. I think on a combined basis.

And they did nothing to look into potential money laundering.

So if there is suspicious activity, or there is something that looks, you know, awry. They have ways to go through the courts, to go after that, you know, particular entity.

The ones who are massive criminals, aren't going to be reporting to FinCEN. So all this is, is a mass surveillance program against small businesses.

And the penalties, as you said, are insane.

It's not just for not reporting. It's if you don't update. So a woman gets married and changes her name.

You move. You get a new driver's license. Because the other one was out of date.

You don't let FinCEN know, they can send you to jail!

Why this was ever passed. And, oh, by the way, Trump did veto this. And it went back to Congress.

And they overwrote it. And nobody has done anything to fix this, is absolutely insane!

There are 33 million small businesses, in this country, why are they being put under a microscope, and saying, you are criminal.

You are financial criminals. And we are going to hold your feet to the fire, if you don't let us track you. It is insane.

GLENN: I have to tell you, I am just looking at this website.

It scrolls. And it just keeps scrolling and scrolling and scrolling. On what you have to do.

I mean, this is -- this is as bad as the IRS, if not worse.

Because none of us have ever done any of this before.

CAROL: Yes.

GLENN: You don't even know. Is there an organization out there, that can help file this?

I mean, the bureaucracy is crazy!

CAROL: So that's part of the challenge.

Is that there are accountants and lawyers, who are trying to get on top of it.

Because everything is so vague and confusing.

Even they're not entirely sure what to do.

So again, my recommendation, if you have an existing reporting entity.

You have until January 1st of next year.

I personally, with my LLC. I am not doing this. Until the very last minute.

Because we're working very hard. We're talking with lawmakers.

We're trying to get it overturned. At least delayed so we have a little breathing room to try to do something.

The problem is, if you start a new business, Glenn. You only have 30 days. And I have heard some rumblings. Whatever it is that they're collecting this information. That they don't have a formal database, built yet.

Go figure.

Right.

And so that information is incredibly vulnerable.

And that impacts the ability to start businesses in this country.

If you're starting one. And you have an entity. If you don't a reporting entity, you don't have to file --

GLENN: What does that mean? A reporting entity? That's an LLC?

CAROL: So something that you have to file information with your state to let them know that you're a business. There are certain people who act as sole proprietors, who don't have a business around them, or an entity around them. Like you said, an LLC, an S-Corp.

A C-Corp, and the like.

But if you have that reporting entity, that's where you're getting caught up in this.

And it is just -- it is just absolutely egregious, nefarious, and an affront to small business.

GLENN: I have a friend who has just this week, started a new business. Guarantee you, he knows nothing about this. And because he's starting a new business, he has 30 days.

CAROL: Thirty days, or he can be fined. He can be thrown in jail.

GLENN: Is it 500 or $800 a day, for every day after 30 days?

CAROL: Yeah. It's some incredible amount per day.

GLENN: And up to ten years, in prison.

CAROL: Civil and criminal penalties. For not -- for not reporting, or not -- again, not updating your information.

Not like you do this once, and you're done.

You have to remember this, any time you do anything that changes any of the information, that would be collected, in the system.

GLENN: You know, Stalin said, show me the man, I'll show you the crime. Or his Stasi chief said that.

CAROL: Yep. Yep.

GLENN: That's what this is.

I mean, everybody is -- with all of the new guide lines and regulations and everything else.

There's no way, you can keep up with all of these things.

And I think they're intentionally designed to be able to say, sorry, dude.

You're a criminal.

You did this. Buh-bye.

Because you know people who are connected, are never going to have a problem, from the Treasury financial crimes enforcement network.

CAROL: Yeah. And if you were really concerned about massive corporate transparency. Or massive scale laundering cartels. Then you would be exempting the small businesses.

And you would be focusing on the large companies that have the financial resources and the capabilities to do reporting.

Like the publicly traded companies do.

But it's exactly the opposite.

So what other conclusion could we possibly draw, that you want to surveil what small businesses are doing. And could go everything you can, to hold them down.

And, basically, continue to transfer wealth from Main Street to Wall Street.

GLENN: So when is -- when is -- can the group that now has filed and they said it was unconstitutional.

They can't file. Because they don't have standing, to kick it up to the Supreme Court, right?

CAROL: So I'm not a lawyer. I don't play one on TV.

I don't know what the procedure is. You have to ask the lawyer on that.

There are certainly a number of people, who are looking into additional lawsuits. There are some lawmakers. Who are looking into trying to get this overturned or at least delayed.

To give again, some time to rethink it.

And see what can be done. In terms of the court, I couldn't believe.

It's unconstitutional. But it's only unconstitutional for this person who filed the lawsuit. I have never seen anything like that.

GLENN: Have you ever seen anything like that before?

STU: No.

GLENN: No. No.

I mean, I will -- I will file, for a federal lawsuit.

I mean, anybody --

CAROL: I'll join you.

GLENN: You will join me?

CAROL: Yeah.

GLENN: I have no expertise in this. I have no idea. But let's do it.

I -- this government is completely out of control. If they can do this, and then they also have said, you know. There's no gig workers anymore. Carol, what is that going to do to the grocery shelves, when you can't get private drivers to drive trucks!

CAROL: I mean, this is insane.

And it goes against the complete shift in the economy.

One of the great things about technology. Is it gave people flexibility, Glenn.

Flexibility to work the way you want to work.

And that's the wonderful thing about America. Not everybody around the world, gets to choose what they do for a living. And how to work.

And more and more people want work/life balance. They don't want to be an employee. They want to make their hours.

And, in fact, when they go out and survey, from the government surveys on down. And they survey independent contractors.

The majority of people, don't want to be employees. They love being independent contractors. And they make at least as much, if not more, than if they were an employee. So the fact that we have the Department of Labor, who went around Congress, and say, we will change the way independent contractors are classified. We don't want to have these standalone people. We want them to be employees.

We want them to be in unions. It's all about big business. It's all about making the unions happy. And it's against capitalism. And your own choice. Your work. Your choice. The people who are so obsessed with choice in everything. Why would you not have a choice in how you present your labor? You and I agree on something. What does the government have to do, getting in the middle going, I'm sorry. I don't like the way you decided on how you want to work.

GLENN: And let me ask you this, too. Biden is working so hard to get labor unions to grow. And these kinds of things make you say, I don't want to be an owner of anything. I just want to be a worker. I don't want to stick my head out for any risk at all.

That's what this does. Then, as they squeeze and squeeze, and you don't really have any rights, people want to join unions. But the unions are in bed with the people that are squeezing you!

CAROL: It's the great consolidation. It's taking away that freedom, that choice, that capitalism, that underpins America. What it is that made us successful. That productivity that we talk about, that will allow us to continue to grow and at least have a chance to save this country's fiscal foundation. They want to do everything they can, to put up barriers. They want to put up barriers to work. To earning a living.

Like, if you said this to somebody, ten years ago, 15 years ago, they would look at you, like we're in a bizarro world.

GLENN: People did, when we talked about it, two years ago. That it was coming.

They looked at us, like that will never happen.

Well, here it is. Here it is.

How to interact with TRUMP-HATING family members this Thanksgiving

Sunny Hostin of “The View” recently argued that people may be justified in refusing to see their Trump-supporting relatives this Thanksgiving because he’s just that bad. But that’s a terrible message, Glenn says. Politics should NEVER come before family. Glenn responds to a post from BlazeTV and “Fearless with Jason Whitlock” contributor Shemeka Michelle, who is dealing with a similar situation – friends refusing to speak to her because of her support for Trump.

Transcript

Below is a rush transcript that may contain errors

GLENN: So the holidays are -- are such an important time for us to be able to come back together at the table. And there are people on all sides saying, I can't -- I can't get back together with my family.

Let me tell you something.

My family has my traditional family. You know, from way back when I was growing up.

My family.

And now, my family extended and -- and even, you know, with me and my kids.

We've gone through really rough times.

The last few years, have been just deadly.

To my family.

And we are in the struggle of holding absolutely everything together.

And it is hard. But it is worth it, in the end.

My biggest fear, honestly, is becoming my dad. I always wanted to be my dad, in many ways. Because he was always very open-minded. And he was really, really brilliant.

He always questioned everything.

He was very tolerant. And he was hard-working. But in the end, he just became very, very bitter.

And the family -- I mean, he just blew up the family at the end.

And my biggest fear is becoming my father. And I just -- I was awake all last night. Just thinking about that.

All -- tossed and turned for maybe three hours. Just thinking about that.

Because our family is -- we're just having problems.

And all I want is my family to be together.

Be together for the holidays. Be together for Christmas.

And even if we're mad at each other or whatever.

Still, just family is the only thing that you have at the end of your life. That's it.

And so people are now encouraging others. The ladies The View.

At least they disagreed on this. On skipping family Thanksgiving.

Play cut 12.

Let me just play this real quick.

VOICE: Whatever your reason is. I would never let my politics be the reason I don't show up to see my family.

VOICE: I'm going to disagree. I completely understand her point.

Because I really do feel that this candidate, you know, President-elect Trump. Is just a different type of candidate.

From the things he said, and the things he's done. And the things he will do. It's more of a moral issue for me. And I think it's more of a moral issue for other people.

We're just -- you know, I would say it was different when let's say Bush got elected. You know, you may not have agreed with his policies.

But you didn't feel like he was a deeply flawed person -- deeply flawed by character, deeply flawed in morality.

STU: Yeah. They called him a terrorist all the time.

VOICE: They called him flawed.

GLENN: Okay. Stop.

So the going back and forth on this. First of all, if -- if -- no matter which side you're on, I think we can say, it's a moral issue. On both sides.

You can say, it's a moral issue.

He's Hitler. Well, he's not. Well, if you really believe he's Hitler. It's a deeply moral issue.

But it was a deeply moral issue on our side too. Your candidate was for killing babies, all the way up until and in some cases, after birth. There can't be a bigger moral issue.

Your candidate was going after people, because they disagreed with them.

They called Catholics. And parents, showing up at parent meetings. At school. And called them terrorists.

It was a deem moral issue for us too.

You're -- you're mutilating children.

So don't take the moral high ground, that you were the only ones that thought it was a moral issue.

We did are too.

We just disagreed. Now, what does that have to do with me being your father. Or your uncle.

Or your brother?

Your dad?

What does -- what does that have to do with thinking?

Because this too shall pass.

But what won't pass ever, throughout all of the eternities, is our relationship with one another.

We have become so small, that -- that we think that this is the -- this is the most important thing.

It's not.

Do you know who sha Mika Michelle is?

STU: She's on the Jason Whitlock show.

STU: Yeah.

GLENN: She posted something the other day. She said, I have a, air quotes, friend who wasn't sure how to hold space for me.

Those are quotes.

As someone who supported Trump. After the election, she stated she needed to protect her peace, and we haven't spoken since. When she comes to her senses, and I know she will, should I welcome her back with open arms?

Because honestly, I'm thinking about giving her the finger, like, F-U.

After we've been through, you sided with baby killers, and those willing to castrate kids.
Go to hell. She asked for thoughts.

And so, Shemika, if I may, I understand how you feel. I really do. I really, really do.

But I think maybe because my family has been divided politically for so long, because of what I do.

You know, it started way before -- you know, it started with Barack Obama.

No. It started with George Bush.

And so I've been going through this the whole time. That I've built in a little bit more armor.

Whatever. Whatever.

It doesn't -- whatever.

This is not important.

Not going to argue with you.

And I'm not going to try to change your mind.

I'm going to try to be a peacemaker.

Last -- one of the holiday. No. It was during the holiday reunion.

There were two members of my family that vote radically different than me.

And see life, radically different than I do.

But I love them. They're good people.

I just love them.

And they were like, you know, uncle Glenn. We can talk to you.

We just want to understand some things.

And I'm like, good. Because I want to understand some things too.

And we just had a really good open conversation, where neither of us were trying to win, we were just trying to understand each other. Because we knew in the end, we will always be related to each other. And I don't have enough family to blow them off.

You know, it's not like my grandfather. I think my who can't understand mother had 18 children. Fourteen of them lived.

And I don't have that. I have two sisters. I have a few nieces and nephews.

I have two grandchildren. I have four children. I don't have enough!

They're all valuable to me. I would ask, and it's -- it will be easier for us because we're -- we're the winners this time.

So it will be easier for us to say, you know, get over it. What's the big deal?

It's still a big deal to people. And you really have to understand, you know, if you've read my book. Propaganda Wars.

You know the brainwashing that's gone on.

I mean, we talk about it, in the book.

And we show you, how to dismantle that in your own life, to make sure you're not a part of it.

You're not spreading it. And it hasn't affected you.

How to find the truth.

These -- these -- actually feel sorry, for not the ones who know what they're doing.

But for the ones that actually believe that they're going to round people up that disagree with them. Because I will be on the front lines. And I think you could probably say this true.

If they started rounding people up because they disagreed. I will be on your side. I will stand with you. I will be with you. They start with the Bill of Rights, and it's in gross ways. I am with you.

I'm for the Bill of Rights. I'm for all of your rights.

I hope you're for all of mine. We're going to disagree on policies. We're going to disagree on how to get there. But my there, should be your there.

I believe all men are free. All men are created equal. You know, you come into this world equal. You leave equal. You leave with nothing!

Except what you've done in your life. And how you lived your life. Who you worship. How you worshiped. Did you serve?

Did you ask for forgiveness? Did you work that forgiveness in your life?

I have more stuff in my life to apologize for than to Pat myself on the back or say, well, thank you. That was a great went I did. I have many more things to apologize for, than any of that. We're all flawed. We're all just trying to figure it out.

We don't want to control people's lives.

Don't miss this opportunity.

Be the peacemaker. Blessed be the peacemakers.

But remember, peacemakers are the ones who stand up for other people's long-term peace. You may have to say things that are true, that are tough.

GLENN: Don't give any ground on truth, but there might be other ways to say the truth, that they can hear it. And you don't have to say everything.

But if you want to be a peacemaker in your life, you have to stand for what is true, universally true.

So others -- our children, our children's children can have peace in their day. That's what it means to be a peacemaker.

But it comes to your family, don't ever listen to anybody who says, don't talk to your family.

That's what cults do.

7 ways to know you're being LIED TO

The Legacy Media has been lying to you and it's clearer than ever after the 2024 election. But how do you know who to trust? Glenn gives 7 tests that his research team uses to evaluate media sources and separate the truth from the propaganda. These 7 tests are explained further in Glenn's new book, "Propaganda Wars."

12,000,000 DEPORTED by a DEMOCRAT? Truth about the freakout over Trump’s deportation plan

Many Democratic politicians and media pundits are freaking out over Donald Trump's plan for the mass deportation of illegal immigrants. But if they knew history - even recent history - they would have no reason to fear monger. Glenn heads to the chalkboard to reveal the shocking truth: The president who oversaw the biggest mass deportation operation in recent years - 12,000,000 people deported or voluntarily removed - was a DEMOCRAT.

THE GLENN BECK PODCAST

Debunking Progressive MYTHS About Christianity | Eric Metaxas | The Glenn Beck Podcast | Ep 236

“The liberals hate my guts because I told the truth about Bonhoeffer,” says Eric Metaxas, author of “Bonhoeffer: Pastor, Martyr, Prophet, Spy.” He joined "The Glenn Beck Podcast" to spread the word about Angel Studios' latest film about the German pastor turned coconspirator in a plot to assassinate Hitler. It's a movie, he says, "Jew-hating lunatics" will love to hate, which is why anti-Semites get free tickets. Eric makes the case that Trump is, in fact, not Hitler and explains why Christians should live out their faith in the public square without fear of being called “Christian Nationalists.” Theocracy, Eric says, is “anti-Christian,” but, like in Nazi Germany, there does come a time when the church should oppose a tyrannical state. Church attendance is down, but Eric suggests that just may be a good thing and that perhaps it’s time to consider Bonhoeffer's proposition of “religionless Christianity.” In the end, both Glenn and Eric agree that there is a "warrior side of Jesus,” and “God knows your theology by how you live.”

Get your tickets to "Bonhoeffer" at https://Angel.com/beck.