Private Equity, Monopolies, and Local Costs

Zach Wahls — the Iowa state senator, former minority leader, and U.S. Senate candidate who first went viral as a 19-year-old in 2011 for his moving speech defending his two moms before the Iowa legislature — joins the Chuck Toddcast to make the case that Democrats have a real shot at flipping statewide races in Iowa this cycle. Wahls explains how he realized at 13 that the GOP was targeting his own family, how he still considers marriage equality to be genuinely under threat today, and pushes back on the narrative that Iowa has abandoned its famous libertarian streak — noting that the vast majority of Iowans remain pro-choice and supportive of marriage equality even as the state has drifted red. He argues that Obama-Trump voters are plentiful in Iowa and that rural Iowa communities feel forgotten by the establishment — a dynamic Trump spoke to effectively in 2016 when the state was in a regional recession. Wahls points to the party's post-New Deal legacy of fighting for workers' rights, but he also reveals he wouldn't support Chuck Schumer for Senate leadership — a position that's apparently cost him, as Schumer-linked super PACs are now spending millions against him in the primary.

The conversation turns to what Wahls sees as the defining issue of his campaign: the obscene influence of dark money in American politics. He reveals that a bipartisan Iowa bill to get money out of state politics was killed by lobbyists and GOP opposition, that he's received small-dollar donations from all 99 Iowa counties while refusing corporate PAC money, and that his anti-corruption message is genuinely resonating with voters who are exhausted by the current system. Wahls says he'll co-sponsor a constitutional amendment to overturn Citizens United, discusses his openness to banning private equity from owning residential homes and responds to being labeled a "Sanders/Warren" candidate. Wahls pledges to lead by example on anti-corruption by serving only two terms if elected, shares concerns about state reliance on gambling revenue as a signal of voter economic anxiety, and closes with a deeply relatable observation every young parent will recognize: with a two-year-old at home, his monthly childcare bill now costs as much as his mortgage.

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Timeline:

(Timestamps may vary based on advertisements)

00:00 Zach Wahls joins the Chuck ToddCast

02:00 Democrats have a real chance at flipping statewide Iowa races

04:00 Did you always know you were going to be in politics?

05:45 Realized at 13 years old the GOP was targeting his own family

06:45 Going viral in 2011 for speech defending his two moms

08:00 Gay marriage rights are still under threat today

09:30 Does Iowa’s famous libertarian streak still exist today?

10:45 Vast majority of Iowans are pro-choice and support marriage equality

12:00 There are a lot of Obama/Trump voters in Iowa

13:30 Union leadership in Iowa leans Dem, rank & file lean GOP

15:15 Rural Iowa communities feel forgotten by the establishment

16:00 Iowa was in a regional recession in 2016, Trump spoke to that

17:30 Why run as a Democrat vs. as an independent?

18:30 Since the New Deal, Democrats have fought for workers rights

19:00 Wouldn’t support Chuck Schumer for senate leadership

19:45 Schumer-linked Super PAC spending millions against him

21:00 How do you avoid being painted as focused on identity & not economics?

23:00 The impact of dark money has tainted American & Iowa politics

24:30 Bipartisan bill to get money out of politics in Iowa spiked by lobbyists & GOP

25:45 The money in politics has gotten obscene quickly in recent years

27:00 What would a campaign finance constitutional amendment look like?

28:30 Republican aligned PACs set to spend huge money in Iowa in the fall

29:15 Received small dollar donations from all 99 counties, no corporate PAC $

30:15 Anti-corruption message is resonating with voters

31:30 Can you unilaterally disarm in the face of huge Republican spending?

32:30 Will co-sponsor amendment to overturn Citizen’s United

33:45 What did you learn from your stint in leadership in the legislature?

36:00 There was no clear strategic plan for Democrats to take back majority

37:00 There were basic organizational issues for Iowa Dems that needed to be fixed

37:45 Needed to rebuild relationships with organized labor

40:00 Stint in leadership doesn’t make him have more sympathy for Schumer

40:45 Democrats didn’t know what they were asking for during shutdown

41:30 If Democrats get the majority…do you work with Trump?

42:45 Have a responsibility to work across the aisle if it helps people

43:30 Open to banning private equity from owning homes, anti monopoly in meat

44:45 Price of fire trucks has tripled due to private equity buying up the manufacturing

46:30 Is the description of being the “Sanders/Warren” candidate a fair description?

49:00 Part-time legislatures don’t have the institutional knowledge of the lobbyists

50:30 Must lead by example on anti-corruption, will only serve two terms if elected

51:30 Thoughts on “vice taxes” & gambling to help state generate revenue?

54:30 High interest in gambling speaks to fear for economic future in voters

56:45 How has having a two year old affected your life & job?

57:30 Childcare costs as much as his mortgage with one child

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