NYC is spending TOO MUCH on the homeless, Why Are Influencers Defending a Regime That Starves Its Own People, Argentina's Milei Did in 18 Months What the U.S. Couldn't Do in Decades | Weekly Recap
Tom Bilyeu's Impact Theory
Impact Theory
4.7 • 5.2K Ratings
🗓️ 29 March 2026
⏱️ 30 minutes
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Tom breaks down how NYC went from spending $102 million on homelessness services in 2019 to a projected $456 million in 2026 — and how the homeless population grew anyway. The shocking figure at the center of it all: $81,700 spent per homeless person per year — more than the median household income in New York City.
Tom breaks down the viral controversy surrounding influencers traveling to Cuba — and why he thinks the outrage is aimed at entirely the wrong target. While much of the online debate has focused on generators, hotel parties, and electricity use during Cuba's ongoing blackouts, Tom argues that fixating on those details is looking at a single tree instead of the forest. The real story, he says, is the return of what he calls the "useful idiot" playbook — a historically documented pattern where motivated, ideologically driven individuals carry propaganda water for repressive regimes, often at enormous cost to the people trapped inside them.
Tom looks at one of the most remarkable — and most ignored — economic turnarounds in modern history: Argentina under Javier Milei. When Milei took office in December 2023, Argentina was in freefall. Inflation was running above 200% annually, government spending was completely out of control, and nearly 20 million Argentines were living in poverty. Critics called his solution — slashing spending, eliminating subsidies, devaluing the currency, and firing thousands of government workers — economic suicide.
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Transcript
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| 0:00.0 | This is what frustrates me. I can go on to tirade about how this war is wrong. |
| 0:03.5 | And then the Democrats will actively try to nosedive the society. |
| 0:08.0 | And then now I have to justify Mom Dani spending $81,000 per homeless person. |
| 0:13.0 | Drew, I'm so with you. New York City is now spending $81,700 per homeless person per year. That's more than the median household income in New York City. |
| 0:24.5 | Guys, that's not individuals. That's household. That's combined income. They're spending per homeless |
| 0:31.4 | person. Now, I also want to play a clip of New York governor, Kathy Hokel, telling wealthy New Yorkers to get out and go to Florida. |
| 0:39.9 | This is 2022 first. |
| 0:42.3 | That the era of Trump and Zeldon and Molinaro just jump on a bus and head down to Florida |
| 0:49.7 | where you belong, okay? |
| 0:51.3 | Get out of town. |
| 0:52.4 | Get out of town. |
| 0:53.9 | Because you don't represent our values. |
| 0:57.3 | Look at that squager, bro. You are not New Yorkers. She was feeling it. This is 2026. |
| 1:02.0 | And see who you can bring back home. Because our tax base has been eroded. So I feel |
| 1:07.4 | psychologically, we don't have a problem. It is like, I have to look at the fact that we are |
| 1:10.5 | in competition with other states. It's very tempting to yell and scream and call people like Kathy Hockel a moron. But the reality is, it's not that they're stupid. It's that they are optimizing their worldview around emotion. But what you're seeing play out is the laffer curve at work. The laffer curve is simply you can try to tax people as much |
| 1:29.6 | as you want. The more you tax people, you reach a point where they either stop producing if they |
| 1:34.8 | can't flee because it's just not worth it to them anymore or they leave. And I don't know how many |
| 1:39.7 | people or how many times these people have to fucking learn this lesson before they get it in their heads. |
| 1:45.3 | You cannot spend more money per homeless person than the average household earns. |
| 1:50.7 | Again, not even an individual person, a household, and expect that taxpayers are going to stick |
| 1:55.6 | around. It doesn't work like that. Guys, it doesn't work like that. |
... |
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