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August 29, 2024
William Upton
Economy
Election 2024

Yes, Kamala Harris Wants to Tax Unrealized Capital Gains, And It Would Be a Disaster.

A senior economic advisor to Kamala Harris‘s 2024 presidential campaign has confirmed the Democratic nominee intends to impose a tax on unrealized capital gains. Bharat Ramamurti, who serves as an economic aide to Kamala Harris, dismissed criticism of the Democratic Party‘s presidential candidate’s tax plan during an appearance on CNBC on Wednesday.

“I think that this reaction to unrealized gains is a little funny given that I bet that the majority of people watching right now are already paying a tax on unrealized gains,” Ramamurti contended during the interview. He added: “It’s called a property tax.”

CNBC host Joe Kernen abruptly cut Ramamurti off, describing the Harris advisor’s “property tax” canard as “tiring” and “always the go-to answer.” Indeed, Kernen is correct that a property tax—defined as a use tax—is dissimilar from a tax on unrealized capital gains.

A PROPERTY TAX?

Property taxes pay for local services such as public schools, police, and firefighters. However, a tax on unrealized capital gains would tax the unsold value of a capital good—such as stock shares in a company. The shareholder would be taxed on the assumed value of the shares without them being sold—meaning if they’re later sold for a loss, the taxpayer has been legally overtaxed by the government.

When pressed on how Harris‘s proposal to tax unrealized capital gains would act in any way like a use tax, Ramamurti unconvincingly sputtered: “All the revenue that comes in from these unrealized gains taxes and the other taxes in the tax—in the Harris plan—are going to go to creating what she calls ‘more opportunity.'”

Despite Ramamurti’s unconvincing spin, the reality is a tax on unrealized capital gains could prove economically disastrous. While Harris claims only the highest income earners would be impacted, it is these same high earners who have the largest market impacts as investors. An unrealized capital gains tax would likely dissuade these individuals from future market actions.

WATCH: 

By Popular Demand.
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Just now
Wake Up Right
News
War

SCOTUS Sides With Trump Effort to Ban Transgenders from Military.

The Supreme Court handed the Trump administration a major win on Tuesday, overturning a lower court ruling that blocked his ban on transgender people serving in the U.S. military.

Back up: In January, President Trump signed an executive order that banned transgenders from serving in the military. In March, U.S. District Judge Benjamin Settle issued a nationwide preliminary injunction blocking the enforcement of this order.

The details: In a brief order released Tuesday afternoon, the Supreme Court granted Trump’s emergency request to overturn the lower court ruling, after the administration argued it hindered the U.S. military readiness.

  • The three liberal justices—Sotomayor, Kagan, and Jackson—would deny Trump’s request.

What Americans think: A recent poll found that most Americans, 54 percent, approve of Trump’s ban on transgender troops.

What happens next: Litigation over the constitutionality of Trump’s order will continue. But while that plays out, his ban can go into effect.

Why Trump’s right on the issue: It is longstanding Department of Defense policy that service members are “[f]ree of medical conditions or physical defects that may reasonably be expected to require excessive time lost from duty for necessary treatment or hospitalization.” The military isn’t an office computer job. It’s the literal line of defense between us and our enemies. There is no room for radical gender ideology.

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The Supreme Court handed the Trump administration a major win on Tuesday, overturning a lower court ruling that blocked his ban on transgender people serving in the U.S. military. show more
By Popular Demand.
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46 minutes ago
Jack Montgomery
Crime

Pam Bondi Says FBI Still Reviewing Epstein Files, Dismisses Comer’s Deletion Claim.

PULSE POINTS:

❓What Happened: Attorney General Pam Bondi refuted claims by Rep. James Comer that Jeffrey Epstein-related files are missing, stating the Federal Bureau of Investigation (FBI) is still reviewing tens of thousands of videos and documents due to the case’s massive scope.

👥 Who’s Involved: Attorney General Pam Bondi, Rep. James Comer (R-KY), FBI Director Kash Patel, and the FBI.

📍 Where & When: Washington, D.C., on May 7, 2025.

💬 Key Quote: “The FBI, they’re reviewing. There are tens of thousands of videos of Epstein with children or child porn, and there are hundreds of victims,” Bondi told the press.

⚠️ Impact: Delays in releasing Epstein files fuel public skepticism and congressional frustration, raising questions about transparency in a high-profile case.

IN FULL:

Attorney General Pam Bondi has said that files related to deceased pedophile financier Jeffrey Epstein have still not been released because the Federal Bureau of Investigation (FBI) is still reviewing them, dismissing claims by Rep. James Comer (R-KY) that files are missing.

“The FBI, they’re reviewing. There are tens of thousands of videos of Epstein with children or child porn, and there are hundreds of victims, and no one victim will ever get released,” AG Bondi told the press. “It’s just the volume, and that’s what they’re going through right now. The FBI is diligently going through that,” she said, adding that she would call Comer to discuss the matter with him.

Rep. Comer, Chairman of the House Committee on Oversight and Government Reform, recently said he believes the relevant documents have “probably” been destroyed, and that he warned AG Bondi and FBI Director Kash Patel that this would happen if they did not move quickly to disclose them.

Image by Gage Skidmore.

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By Popular Demand.
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2 hours ago
News
World

Brexit Britain Seals Landmark Indian Trade Deal.

PULSE POINTS:

❓What Happened: Britain and India have reached a free trade agreement to reduce tariffs on various products, including Scotch whisky.

👥 Who’s Involved: British Prime Minister Keir Starmer, Indian Prime Minister Narendra Modi, the British and Indian governments.

📍 Where & When: Announcement made in London, negotiations started over three years ago.

💬 Key Quote: “This is the biggest trade deal that we, the UK, have done since we left the EU, and it’s the most ambitious trade deal that India has ever done,” said Prime Minister Starmer.

⚠️ Impact: The agreement is expected to boost bilateral trade by £25.5 billion (~$34.1 billion) annually and significantly increase Scotch whisky exports to India.

IN FULL:

Britain and India have announced a significant free trade agreement to slash tariffs on a range of products, including Scotch whisky. This long-awaited deal comes after more than three years of negotiations.

British Prime Minister Keir Starmer hailed the agreement as a “landmark” event, describing it as “fantastic news for British business, British workers and British shoppers.” His Indian counterpart, Prime Minister Narendra Modi, echoed this sentiment, calling the deal “ambitious and mutually beneficial.”

“This is the biggest trade deal that we, the UK, have done since we left the EU, and it’s the most ambitious trade deal that India has ever done,” Prime Minister Starmer said.

The British government detailed that the agreement would cut Indian import taxes on goods such as whisky, cosmetics, medical supplies, and automotive parts. Notably, tariffs on whisky and gin will be reduced from 150 percent to 75 percent, eventually dropping to 40 percent over the next decade. Automotive tariffs will see a significant decrease from over 100 percent to 10 percent under a quota system.

India’s Trade Ministry emphasized that 99 percent of Indian exports would be exempt from import duties under this new agreement. Trade Minister Piyush Goyal stated, “This brings us closer to our goal of becoming a global economic powerhouse,” highlighting the deal’s potential to enhance India’s role in global value chains.

The agreement, which covers both goods and services, is projected to increase bilateral trade by the equivalent of $34.1 billion annually. Mark Kent, CEO of the Scotch Whisky Association, described the deal as “transformational,” noting its potential to boost Scotch whisky exports to India by $1.3 billion over the next five years.

Formal talks for this free trade agreement began in 2022, following Brexit. Prior to Brexit, Britain was unable to strike any bilateral trade deals, as the European Union (EU) controls its member states’ trade policy.

Image by Simon Dawson / No 10 Downing Street.

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By Popular Demand.
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3 hours ago
Crime
Immigration

Alcatraz Just One of Many Facilities Trump Admin Is Reactivating, Mostly to Detain Illegals.

PULSE POINTS:

❓What Happened: President Donald J. Trump’s eye-catching proposal to reopen Alcatraz prison is being backed by action to reopen a number of other facilities across the U.S., mostly to detain illegal aliens.

👥 Who’s Involved: President Trump, U.S. Immigration and Customs Enforcement (ICE), CoreCivic, Geo Group, California Democrats, illegal aliens.

📍 Where & When: Alcatraz Island, California, and other locations such as Michigan, New Jersey, and Kansas; recent months.

💬 Key Quote: “We don’t want ICE to expand their ability to cage our community members,” complained Susan Beaty, senior attorney for the California Collaborative for Immigrant Justice.

⚠️ Impact: Potential increase in immigration detentions.

IN FULL:

President Donald J. Trump’s recent suggestion to reopen Alcatraz, the historical prison in San Francisco Bay, California, has caused a stir. It is part of a broader initiative by the administration to repurpose several closed detention facilities across the United States, mostly for the purpose of detaining illegal aliens.

While California lawmakers have tried to dismiss the Alcatraz proposal as a diversion, efforts to reopen other facilities are progressing, often in collaboration with private prison companies. The Trump administration has been actively working to reactivate at least five other detention centers and prisons to house immigration detainees. Meanwhile, the Alcatraz proposal would see “America’s most ruthless and violent Offenders” confined on the island prison, according to Trump.

In California, U.S. Immigration and Customs Enforcement (ICE) is exploring reopening the California City Correctional Facility, which at one point housed over 2,000 people, and the Federal Correctional Institution (FCI) Dublin. Local activists such as Susan Beaty, of the California Collaborative for Immigrant Justice, are rattled by the moves to expand detention facilities in the Golden State, saying, “When there are fewer beds for ICE to incarcerate people, there are fewer arrests and less enforcement. We don’t want ICE to expand their ability to cage our community members, because we know that will lead to more incarceration and allow them to terrorize our communities even further.”

Elsewhere, the Geo Group is reopening the North Lake Correctional Facility in Michigan, potentially becoming the Midwest’s largest immigration detention center. In New Jersey, the Delaney Hall facility in Newark has also reopened for immigration detainees amid legal challenges from the city government. In Kansas, CoreCivic is working to reopen a detention center in Leavenworth.

The Trump administration’s push to utilize these shuttered facilities underscores its commitment to mass deportations. However, illegals are now being given the opportunity to use the CBP One app—which Joe Biden used to parole migrants into the U.S. en masse—to self-deport with a $1,000 stipend, avoiding detention and forcible removal.

Image by Christopher Michel.

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By Popular Demand.
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4 hours ago
History
News

Tower of London Adorned With Thousands of Poppies for VE Day Tribute.

PULSE POINTS:

❓What Happened: Nearly 30,000 ceramic poppies are displayed at the Tower of London to commemorate 80 years since the end of World War II in Europe.

👥 Who’s Involved: The installation was designed by Tom Piper, with ceramic flowers created by artist Paul Cummins.

📍 Where & When: The Tower of London, display open until Armistice Day, November 11.

💬 Key Quote: Tom Piper stated, “Everywhere these poppies have been, they have brought people together, with their own stories of sacrifice, commemoration, and hope for the future.”

⚠️ Impact: The installation aims to reflect the loss of life through war and provide a space for remembrance, continuing the tradition of poppies as symbols of remembrance in the United Kingdom.

IN FULL:

A display of nearly 30,000 ceramic poppies is currently on exhibit at the Tower of London, marking Victory in Europe (VE) Day on May 8, and 80 years since the conclusion of World War II in Europe. The installation, titled “The Tower Remembers,” features red poppies arranged to resemble a cascading “wound” at the heart of the historic Norman fortress, a site that endured bombing during the Blitz.

Designer Tom Piper conceived the artistic endeavor, and artist Paul Cummins crafted the ceramic poppies. This new display follows a 2014 installation at the same site, which featured 888,246 poppies, each symbolizing a military life lost during the First World War. That earlier installation, “Blood Swept Lands and Seas of Red,” attracted over five million visitors.

Reflecting on the 2014 installation, Piper remarked that while the scale of that project could not be replicated, he recognized that “smaller installations could still carry great emotional power.” He emphasized the poppies’ role in uniting people through shared stories of sacrifice and hope, stating, “Everywhere these poppies have been, they have brought people together, with their own stories of sacrifice, commemoration, and hope for the future.”

The poppies, on loan from the Imperial War Museums’ collection, can be viewed as part of the general admission to the Tower of London. A portion of the display is also visible from the public footpath. The installation will remain in place until Armistice Day on November 11, commemorating the armistice agreement that ended the First World War.

In the United Kingdom, poppies have long been a symbol of remembrance, worn to honor those who lost their lives in the world wars and other conflicts. Poppies grew across many shell-blasted First World War battlefields in France and Belgium after the fighting, with the flower becoming an enduring symbol of the fallen.

Russia, meanwhile, plans its own Victory Day parade on May 8. However, this year, Ukrainian President Volodymyr Zelensky has made veiled threats of a possible attack on the parade, which will be attended by several major world leaders, including China’s Xi Jinping.

WATCH:

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By Popular Demand.
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14 hours ago
Immigration
Media

DHS Condemns D.C. Media for Alerting Public, Migrants to ICE Raids.

PULSE POINTS:

❓What Happened: A pro-migration reporter warned illegal aliens in Washington, D.C., about upcoming U.S. Immigration and Customs Enforcement (ICE) workplace inspections.

👥 Who’s Involved: Pablo Manriquez, founder of MigrantInsider.com, and Tricia McLaughlin, spokeswoman for the Department of Homeland Security.

📍 Where & When: Washington D.C., inspections scheduled for Tuesday and Wednesday.

💬 Key Quote: “It is sickening that this ‘reporter’ is putting law enforcement lives at risk,” said Tricia McLaughlin.

⚠️ Impact: Potential risks to law enforcement and heightened awareness of ICE activities among illegals in D.C.

IN FULL:

Illegal aliens in Washington, D.C., have been alerted to upcoming U.S. Immigration and Customs Enforcement (ICE) inspections at various workplaces, via Pablo Manriquez, founder of MigrantInsider.com. Manriquez, a Chilean-born pro-migration advocate, shared that sources informed him of planned ICE checks at Subway restaurants and among Door Dash and Uber Eats drivers, among others, on Tuesday and Wednesday.

This information leak has drawn criticism from Tricia McLaughlin, spokeswoman for the Department of Homeland Security (DHS), ICE’s parent agency. McLaughlin expressed concern over the potential danger posed to law enforcement, stating, “It is sickening that this ‘reporter’ is putting law enforcement lives at risk and doing the bidding of violent criminal aliens and gang members.”

Manriquez elaborated on the planned operations, indicating that ICE agents would conduct I-9 employment eligibility document inspections and position officers at the back of restaurants to intercept those attempting to flee. He also mentioned that bilingual public charter schools, including the Mundo Verde public charter school system, would be targeted.

In response to the anticipated raids, Manriquez urged migrants to be aware of their rights and advised them to contact the Amica Center for Immigrant Rights if detained. He encouraged sharing the information widely and announced that further updates would be available on MigrantInsider.com.

Manriquez, who describes himself as an immigrant outsider, has previously written in support of figures like the late Democratic Rep. Raul Grijalva, whom he praised as a “voice of migrants, workers, Tribes, Latinos.” However, his recent actions have aligned him with insider elites, including corporate lawyers at Acacia, who offer legal aid to migrants.

This is not the first time illegals have been alerted to ICE raids and operations before they occur. In California, ICE planned an operation targeting known gang members and criminals in Los Angeles, but plans were leaked ahead of time. Border Czar Tom Homan blamed Federal Bureau of Investigation (FBI) personnel, who were also involved in the operation, and noted in February that a criminal investigation had been launched.

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By Popular Demand.
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15 hours ago
News

Traitor Pence Again Hits Trump on Tariffs, Russia Stance, and Jan. 6 Pardons.

PULSE POINTS:

❓What Happened: Former Vice President Mike Pence criticized President Donald J. Trump’s second-term agenda in an interview with CNN’s Kaitlan Collins.

👥 Who’s Involved: Mike Pence, President Trump, Kaitlan Collins, Robert F. Kennedy Jr.

📍 Where & When: Interview at JFK Presidential Library, Boston, following Pence’s acceptance of the John F. Kennedy Profile in Courage Award on Sunday, May 4, 2025.

💬 Key Quote: “I do think this version of tariff policy that’s broad-based, indiscriminate, applies tariffs to friend and foe alike, is not a win for the American people,” said Pence.

⚠️ Impact: Pence continues to ramp up his attacks on President Trump and his administration, solidifying his role as a front man for the globalist political establishment.

IN FULL:

Former Vice President Mike Pence is continuing to act as the political establishment’s front man in attacking the polices of President Donald J. Trump. Speaking with CNN’s Kaitlan Collins—herself a quasi-conservative media figure turned corporate media apparatchik—Pence blasted Trump’s agenda from tariffs to the January 6 pardons to trying to broker peace between Russia and Ukraine.

“I do think this version of tariff policy, that’s broad-based, indiscriminate, applies tariffs to friend and foe alike, is not a win for the American people. There may be a price shock in the economy,” Pence said. Notably, Pence has long been a mainstay with the pro-corporate and anti-Trump Club for Growth, using their donor summit in 2023 to put distance between himself and his former running mate.

Addressing President Trump’s decision to pardon—and in some instances commute the sentences of—the January 6 defendants, Pence told Collins: “I was deeply disappointed, it sent the wrong message.”

Meanwhile, while discussing the ongoing conflict between Russia and Ukraine, Pence insisted that Russian President Vladimir Putin will not rest until all of Ukraine belongs to Russia. Notably, most experts on the region, while acknowledging Russian aims in Eastern Ukraine, are fairly emphatic that Russia would not be able to control or even desire control over Western Ukraine.

Lastly, the former Vice President continued to lament the appointment of Robert F. Kennedy, Jr. as Secretary of Health and Human Services, citing the Kennedy clan scion’s abortion stance. However, Kennedy, in his confirmation, made certain guarantees not to allow his personal beliefs to interfere with his public duties. The National Pulse has previously reported that Pence and his allies worked behind the scenes to derail the Kennedy nomination.

Image by Gage Skidmore.

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By Popular Demand.
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15 hours ago
William Upton
Crime
Politics

WATCH: Pro-Hamas Antifa Demonstrators Build Barricades, Set Fire to University Campus.

PULSE POINTS:

❓What Happened: Pro-Hamas student protestors, along with Antifa, occupied a campus building at the University of Washington, setting fire to barricades and attacking police with projectiles. The demonstrators demanded that the university divest itself from Boeing over the company’s relationship with Israel.

👥 Who’s Involved: Students United for Palestinian Equality and Return UW (SUPER UW), Antifa, the University of Washington, Boeing, police.

📍 Where & When: Monday, May 5, 2025.

💬 Key Quote: “We’re hoping to remove the influence of Boeing and other manufacturing companies from our educational space, period, and we’re hoping to expose the repressive tactics of the university,” Super UW spokesman Eric Horford said.

⚠️ Impact: Police reports indicate upwards of 32 individuals were arrested and face criminal trespass in the first degree—a gross misdemeanor. None of those arrested have been charged with a felony.

IN FULL:

Pro-Hamas demonstrators, believed to be affiliated with Antifa, took over and occupied a brand new engineering building on the University of Washington campus, building barricades, setting fires, and throwing projectiles at police. The violent display came as far-left groups gathered to protest against Boeing‘s funding of the university and its business arrangements with Israel.

Over two dozen pro-Hamas and Antifa demonstrators were ultimately arrested, with some reports putting the number of arrests as high as 32. The violent campus action was organized by Students United for Palestinian Equality and Return UW (SUPER UW).

“We’re hoping to remove the influence of Boeing and other manufacturing companies from our educational space, period, and we’re hoping to expose the repressive tactics of the university,” Super UW spokesman Eric Horford said in an interview with local media. He added: “We are here to negotiate with the university, and we are hoping they’ll hear us and speak with us.”

Notably, the faction of SUPER UW students appears to have been primarily responsible for the occupation of the engineering building. In contrast, a second faction of individuals clad in black bloc attire and alleged to be affiliated with Antifa were responsible for the fire and the construction of barricades. At one point, a fire that had been set came dangerously close to the campus building.

Following the arrests, police say the demonstrators have been charged with criminal trespass in the first degree—a gross misdemeanor. None of those arrested have been charged with a felony.

WATCH:

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By Popular Demand.
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16 hours ago
News

Nationwide ‘No Kings’ Protest Targets Trump’s Flag Day Parade.

PULSE POINTS:

❓What Happened: Activists plan a protest on June 14 against a Flag Day parade organized by the Trump administration.

👥 Who’s Involved: The “No Kings” group, Black Voters Matter, the Declaration for American Democracy, and President Donald J. Trump.

📍 Where & When: Washington, D.C., June 14, coinciding with Flag Day and Trump’s birthday.

💬 Key Quote: “We have the greatest missiles in the world… And we’re going to celebrate it,” Trump stated.

⚠️ Impact: The event is expected to intensify tensions between patriots and leftists, with nationwide protests anticipated.

IN FULL:

Far-left activists are gearing up for a protest on June 14, a parade planned by the Trump administration celebrating Flag Day. The event, described by the White House as a “patriotic tribute,” also coincides with President Donald J. Trump‘s birthday. However, the group No Kings, which is organizing a mass demonstration against the parade, describes it as a “made-for-TV display of dominance.”

The “No Kings” coalition, along with partners such as Black Voters Matter and the Declaration for American Democracy, is mobilizing volunteers to voice opposition to what they perceive as an authoritarian display. The group aims to gather supporters “everywhere Trump isn’t” to emphasize their message of “no thrones, no crowns, no kings.”

Meanwhile, Trump’s Flag Day parade plans include over 6,600 soldiers, 150 vehicles, 50 helicopters, seven bands, and potentially 2,000 civilians. Meant as a celebration of the American military, President Trump has defended the cost of the event, which some estimate as high as $45 million, as “peanuts compared to the value of doing it.”

“We have the greatest missiles in the world. We have the greatest submarines in the world. We have the greatest army tanks in the world. We have the greatest weapons in the world. And we’re going to celebrate it,” Trump said. Meanwhile, Army spokesman Colonel Dave Butler expressed his desire for the event to be a national celebration, stating, “We want Americans to know their Army and their soldiers.”

As the date approaches, the “No Kings” coalition is actively recruiting volunteers online and coordinating with local chapters across more than 30 states. Organizers anticipate that thousands will participate in the protest events. In response, law enforcement in Washington, D.C., is preparing for increased security, though specific plans remain undisclosed.

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By Popular Demand.
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17 hours ago
NatSec

Hegseth Slashes Pentagon Excess to Boost Warfighter Resources.

PULSE POINTS:

❓What Happened: Secretary of Defense Pete Hegseth says the Pentagon will begin reducing administrative bloat, refocusing the Defense Department on warfighters and military readiness, starting with a 20 percent reduction in the number of four-star generals and admirals.

👥 Who’s Involved: Secretary of Defense Pete Hegseth, President Donald J. Trump, the Pentagon, senior military officials.

📍 Where & When: Monday, May 5, 2025.

💬 Key Quote: “We won World War II with seven four-star generals. Today we have 44. Do all of those directly contribute to warfighting success? Maybe they do—I don’t know—but it’s worth reviewing to make sure they do,” Hegseth said at a town hall earlier this year.

⚠️ Impact: The reforms are aimed at cutting administrative bloat in U.S. defense and refocusing efforts towards warfighters and military readiness, building a leaner and more prepared military.

IN FULL:

President Donald J. Trump‘s Secretary of Defense, Pete Hegseth, says the Pentagon will begin reducing administrative bloat, refocusing the Defense Department on warfighters and military readiness. As part of the first stage of this process, Hegseth announced late Monday that the U.S. military will reduce its number of four-star generals and admirals, aiming to cut senior staff by an estimated 20 percent. Additionally, Hegesth is directing the National Guard to reduce the number of general officers by 20 percent and to cut another 10 percent of all flag and general officers.

In the memo directing the cuts, Hegseth argues that in order to “drive innovation and operational excellence,” the U.S. military must be “unencumbered by unnecessary bureaucratic layers that hinder their growth and effectiveness.” He explained that part of the plan to achieve this goal requires “removing redundant force structure to optimize and streamline leadership by reducing excess general and flag officer positions.”

The Defense Secretary, announcing the senior officer reductions in a post on X (formerly Twitter), stated: “We’re going to shift resources from bloated headquarters elements to our warfighters.”

Pentagon critics have long pointed to the department’s top-heavy bloat, with senior leaders behaving more like politicians than commanders, with some not having seen combat in decades. “We won World War II with seven four-star generals. Today we have 44,” Hegseth said in February, adding: “Do all of those directly contribute to warfighting success? Maybe they do—I don’t know—but it’s worth reviewing to make sure they do.”

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By Popular Demand.
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