Dems' Poll Numbers PLUMMET, plus How to Save $1TRILL in Fed Spending & Why We Need to Fix the Tax Laws to Treat Poker Pros Fairly
Verdict with Ted Cruz
Premiere Networks
4.5 • 42.9K Ratings
🗓️ 28 July 2025
⏱️ 33 minutes
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Summary
🗳️ Democrats' Poll Numbers Plummeting
- A recent Wall Street Journal poll shows the Democratic Party's approval rating at its lowest in 35 years.
- Only 33% of voters view the party favorably, while 63% view it unfavorably.
- Cruz attributes this to the party being overtaken by extreme left-wing voices and unpopular stances on issues like:
- Open borders
- Defunding the police
- Support for controversial protests
- Gender and youth medical policies
- He warns Republicans not to become complacent despite favorable polling.
💰 Proposal to Save $1 Trillion in Federal Spending
- Cruz proposes ending the Federal Reserve’s practice of paying interest on bank reserves.
- This policy, introduced in 2008, cost taxpayers $168 billion in 2024 alone, with nearly half going to foreign banks.
- Cruz argues that:
- The Fed operated for nearly a century without paying interest on reserves.
- Ending this would encourage banks to lend more and support economic growth.
- It could also help lower interest rates and reduce the deficit.
♠️ Fixing Tax Laws for Professional Poker Players
- A provision in the “One Big Beautiful Bill” changed how gambling losses are deducted.
- Previously, players could deduct 100% of losses from winnings; now only 90% is deductible.
- This results in some players being taxed on income they didn’t actually earn.
- Cruz, along with bipartisan support, is pushing legislation to reverse this change, arguing it's unfair and could drive poker professionals out of the U.S.
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Transcript
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| 0:00.0 | This is an I-Heart podcast. |
| 0:05.3 | Welcome, it is verdict with Senator Ted Cruz. Ben Ferguson with you as always. And, Senator, |
| 0:10.6 | it's nice to be with you as we've got a couple of big things to chat about today, |
| 0:15.5 | including the Democrats getting the lowest rating from voters in 35 years. |
| 0:22.6 | Well, that's right. The Wall Street Journal just did a poll and found that the Democrats' |
| 0:26.6 | approval rating has plummeted. It is at the lowest level in 35 years. It turns out being angry, |
| 0:32.6 | filled with rage, and being a party that stands for nothing but hating Donald Trump is not actually a popular |
| 0:38.7 | platform. We're going to break that down and talk about what that means for elections coming up |
| 0:43.3 | in 26 and going forward. Secondly, we're going to talk about a proposal that I've been championing |
| 0:49.2 | to cut spending and to cut spending dramatically. And that is for the Federal Reserve to stop paying |
| 0:57.0 | interest on bank reserves. This is a proposal that could save over a trillion dollars over 10 years. |
| 1:03.7 | I've made this case directly to the president in the Oval Office. I've introduced legislation to |
| 1:08.2 | make this happen. We're going to talk about exactly what it would mean and why it makes a difference. And finally, we're going to talk about an element of the one big |
| 1:15.8 | beautiful bill that was an unintended mistake, which is the one big beautiful bill changed how gambling |
| 1:23.9 | losses are counted in taxes. and what it did for people like |
| 1:29.7 | professional poker players is it ended up putting in place a rule that is |
| 1:33.8 | wildly unfair that punishes them that taxes them on income they didn't earn |
| 1:39.0 | and and so I've joined with some Democrats in terms of trying to fix this I |
| 1:42.2 | hope we can fix it because we ought to have a tax system that's fair. We're going to explain that issue to you also. Yeah, it's also really interesting because it goes back to part of what the president did with no tax on tips, and he's like looking out for little guys and their jobs. It matters. We're going to break that down. It'll be very interesting. I want to tell you real quick about our friends over at Patriot Mobile. |
| 2:01.6 | If you're like me and you've made a commitment that, hey, you're going to spend money with companies that are aligned with your values, then you're going to love Patriot Mobile. |
| 2:13.1 | There are a lot of choices when it comes to cell phone service, but there's one that I have been with for years, and they've been doing it now for more than 12 years. |
| 2:22.9 | They've been on the front lines as a company fighting for our God-given rights and freedoms, and it's really awesome how this works. |
... |
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