Will the market crash if the filibuster is removed in this video, we're going to talk about why this is coming up? What the filibuster is, what could happen if it gets removed and joe biden's a big u-turn? Let's talk about that quick note in the description down below is a link to wealthfront. If you want less stress, investing in the market consider checking out wealthfront, they are a robo advisor and can automatically balance you into a various different funds like index funds or passively managed exchange traded funds. Folks check that out via the link in the description down below. If you sign up, you will get your first, five thousand dollars managed totally for free and they automatically rebalance your portfolio as well check them out linked down below okay.

Folks, let's talk about this, so first of all, all of this is coming as a result of the recently passed voting rights bill in the house of representatives. The voting rights bill would do a few things. It would expand early and absentee voting, which usually means mail-in voting right, which some folks say, favors the left and the house of representatives is obviously controlled by democrats. This bill would make it easier for people to comply with state voter id laws, make automatic voter registration.

The national standard and give people who are incarcerated the right to vote after they finish their sentences. The bill would also make or reinstate this automatically. The bill would also make election day a national holiday, potentially allowing more folks who have to work throughout the day. The opportunity to have time to go vote in person if they so choose to the voter rights bill, has passed the house of representatives but has not passed the senate.

That's because it's standing in the way of or it's being held up by, potentially the filibuster. So what is the filibuster, and how does it work? Okay, quick explanation: here's how it works. Here's the voting rights bill. It's a bill on capitol hill; it's just a bill now in order to pass a bill.

You need three things: one! You need the house of representatives to pass it with 51 percent. You need the senate to uh pass the same bill. Usually they do this through a reconciliation amendment so that they have exactly the same bill, but that part doesn't matter. You need the senate to pass.

It and then, once these two things happen, you need the potus or the president of the united states to sign the bill. Obviously house of representatives controlled by dems and potus. They both want this bill. So obviously, we'd expect that to pass problem is the senate.

Now, technically, the senate only needs a simple majority or 51 percent to actually pass a bill, since it's controlled 50 percent by democrats and 50 by republicans, kamala harris the vice president would come in break the tie for democrats and the bill would pass. The problem is in order to end debate on the bill. You actually have to jump over here and do something known as invoking cloture, but invoking cloture requires a 60 majority vote. The extra 10 percent, though, are republicans who don't want this bill to go through, so why would they vote to end debate now? There are two types of filibusters there's: a silent filibuster where you just threatened to filibuster and then there's an active talking filibuster where you just go: read like green eggs and ham or something crazy now, uh this.

This is sort of the dynamic of what the heck of the filibuster is. So it fills you in on this now the filibuster is a rule and the rule does not take 60 days to change. In fact, the rule could be passed with a simple majority vote. The problem is, you would need all democrats on board to actually get this rule passed and modified and you'd need joe biden on board as well to sort of rally the democrat troops and and make them want to change this now.

Initially, during the campaign joe biden said he would not vote to change the filibuster. Remember joe biden was a senator uh for a very long period of time and he actually believes in the institution of the filibuster that the filibuster should maintain and it's sort of a balance of power in america and to some degree, imagine what happens if there is No filibuster, then what could democrats do well? They could do the same thing that republicans could do if they ever took control again, which they might this november. Who knows but democrats could just pass through tax increases through, let's say the build back better plan without any kind of check on their power. You could see the voting rights act passed.

Who knows you could see cannabis legislation passed, you could see more green energy legislation passed. There are a lot of democratic priorities that you could see past without the check of balance of essentially republicans now some say: hey democrats have control of all three uh positions of power. They should be able to have that unchecked power, but via the rules of uh via the closure rule into the filibuster rule. That is untrue.

They technically only have control of the house of representatives and the presidency, but they technically do not have full control of the senate, which is what they desperately want. So that way they can get their action through, rather than sitting still mated. Like we usually see now joe biden again, he was anti ending the filibuster but he's recently u-turned. Now he wants the filibuster to be ended and he's joining chuck schumer, who has promised to hold a vote on changing the filibuster rules on monday.

The two biggest roadblocks, though, are kirsten cinema and joe manchin joe manchin's, a little bit unknown in terms of what he would do. Joe biden gave a speech on thursday and says the honest-to-god answer is i don't know whether we can get this done without ending the filibuster rule, we're changing the filibuster rule, joe manchin responded to this and said yeah. The president gave a very passionate, very good speech. It was very human, it was very touching, but when asked if he changed his mind in the filibuster, he said joe biden did an excellent job.

So we don't really have a direct answer from joe manchin as to whether or not you participate in changing the filibuster rules. But here's a very direct answer: democrat kirsten cinema of arizona who's needed a long, joe manchin. To get this new rule changed sparked outrage after she said she'll, never vote to end the filibuster she says i will not support separate actions that worsen the underlying disease of division affecting or infecting our country yikes, big one. This has led some of her packs political action committees, originally supporting kirsten cinema to do a complete 180 and now take that money that is usually allocated for for the candidate and direct that money towards grassroots organizations who are leading the fight to hold kirsten cinema accountable.

So uh just solely based on kirsten cinema, it does not look promising that the filibuster would it would be ended. If the filibuster did get ended uh, then we would have the uh belief that okay, well democrats are probably going to push through a lot of policies on green energy, uh, possibly inflationary spending and higher taxes via the buildback better plan uh. I would say that fears of higher taxes and higher inflation would probably both compound and lead the market to fall substantially more. So i i would be under the impression that ending the filibuster would be bad for the market, not a bullish thing.

However, i also don't expect that it would actually end up going through. What i do expect, though, is that you're going to open up that description down below check out wealth from check out the programs on building your wealth with the coupon code in a couple weeks, and you can even go to mykevin.com cashflow for some future announcements. Anyway. Thank you so much for uh following this video consider sharing it.

If you found it helpful and folks we'll see in the next one thanks so much goodbye.