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Unleash Prosperity Hotline
Issue #1357
9/25/2025
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1) Gold Is Glittering - and That's Not Good News
We're bullish on the economy thanks to Trump tax cuts, the deregulation, and the pro-drilling energy policies, but one thing makes us jittery.
The price for an ounce of gold hit $3,780 this week, up exactly 42% year-to-date.
Gold Price Year to Date
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That compares with a 13% rise in the S&P 500, 9% for the Dow, and 17% for the NASDAQ.
Gold is the first flight to safety and a measure of the inflation risk. This spike in the price is a warning sign that the fight against inflation ain’t over yet.
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2) Could Georgia Become the 10th State With No Income Tax?
We’ve said it many times: the race is on to see which state becomes the 10th with zero income Tax. Georgia would be a logical candidate since they are an income tax sandwich bordered by Tennessee and Florida - both of which have no income tax. Now the GA state legislature is taking a serious look:
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At their meeting Wednesday, senators heard from current and former officials from other states that do not have an income tax or are in the process of eliminating one...
In Florida, for instance, three quarters of general revenues -- $50 billion -- come from a 6% sales tax, said J. Ben Watkins, the Sunshine State's director of bond finance.
He told the senators at the Georgia Capitol that the absence of an income tax has driven population growth in Florida -- and sales tax revenue along with it.
"People have flocked to the state -- remote working, second homes, retirees," he said. "Why do people move to Florida? What is our secret to success in Florida? Warm climate and low taxes." ...
Georgia is already going that direction. The General Assembly voted to reduce the income tax rate from 6% to 5.75% in 2022, gradually lowering it to 5.19% this year.
Our vision at UP is for the entire Southern region to become an income-tax-free zone.
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3) Red State AGs Say Hell No To Euro-Climate Change Rules
It’s good to know that state attorneys general are reading the HOTLINE.
We reported last week about the discriminatory European Union’s climate change “sustainability directive” designed to impose “severe burdens” on American companies.
The dead end of green energy and climate craziness in Europe has caused energy prices to rise two to three times faster in Germany and other Euro-zone nations than in America (see chart):
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Instead of getting back to affordable energy sources like coal, natural gas and nuclear power that actually work, they want to impose their anti-growth requirements on us.
The Securities and Exchange Commission has come out against the EU rules, and now a coalition of Republican State AGs have joined the chorus of opposition. Their letter to President Trump, first reported by the Daily Caller News Foundation, warns:
The corporate sustainability directive’s disclosure requirements are extensive and burdensome, diverting American companies’ time and energy away from investment, wage growth, and other valuable activities—all in the name of the radical green agenda. Its purpose is to disincentivize fossil fuels, investment, and economic growth, and to put bureaucrats in Brussels in charge of policies directing American operations. This cannot stand.
We couldn’t have said it better ourselves.
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4) Save Me San Francisco? New Mayor May Be Doing Just That
At the HOTLINE, we update you frequently on the policy disasters that are making Blue cities unlivable.
But a notable outlier and beacon of hope for big city America is San Francisco, under its new Mayor Daniel Lurie.
A new San Francisco Chronicle poll finds 57% of residents view the city's quality of life favorably, compared to 39% a year ago. Lurie's approval rating is an astonishing 73%; though he is least popular among progressive voters.
How did he do it?
By focusing on fundamentals: streamlining permitting, bringing in private sector talent in key positions, and outflanking the city's progressive obstructionists. Lurie also launched a campaign to "remove a bunch of dumb rules, like the one that prevented residents from parking in their own driveways."
On the economy, his speeding up of office-to-housing conversions has revitalized downtown, and eliminating fees for restaurants setting up sidewalk seating has boosted business. Homeless street encampments have declined, and funding for non-profits that exacerbated the root causes of homelessness has been cut. That has led to a reduction in drug deaths. Overall, crime is down between 27% and 30% citywide, with car break-ins at a 22-year low.
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The city's budget has been balanced with no tax hikes and 1,000 positions in city government cut. Lurie has avoided the performance art of talking up resistance to Donald Trump in favor of "nuts-and-bolts" governance.
We’re impressed.
What a shame that New York City is veering in the opposite direction.
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5) Video of the Day: Bessent Torches Kamala and Buttigieg in One Sitting
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BARTIROMO: She wouldn't take on Pete Buttigieg because he was gay, because she said it was a risk to have a running mate who was a gay man. Your reaction.
BESSENT: Three things, Maria.
First, it shows her emphasis on identity politics, and the American people have moved on.
Two, it shows how low regard she holds the American people. She was just a terrible candidate.
And three, you wouldn't pick Pete Buttigieg because he might have been the worst transportation secretary in history.
If I thought I was left a mess at Treasury, I can tell you, your friend, my friend, Sean Duffy, our great transportation secretary, Pete Buttigieg left him a mess. The FAA is a disaster. Amtrak. You know, anything to do with transportation was woefully neglected over the past four years.
She judges him on his identity, his sexuality. Let's look and see whether he did a good job. Let's look on merit, and I can tell you on merit, he was a failure, and on merit, she's a failure.
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