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John Leiber: “By per state constitution, all income has to be distributed.”

Featuring: John Leiber, Republican | Wisconsin Treasurer

THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER

Published November 22, 2025 | Video Starts at 44:25

We're trying to grow it, but we're also trying to make as much money this year. Right, but you cannot use that. You cannot reinvest that money. It has to go out. Right. It. By, By per state constitution, all income has to be distributed. Okay. So it grows partly based on. If you buy stock. Well, if you don't sell it, the value goes up because. Okay, so let me ask you, what is the. (44:25–44:29)

CLAIM

Asserts that the state constitution mandates all income to be distributed.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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John Leiber

“We just passed a budget this last year. It's over $100 billion that took both sides to vote on it, the governor to sign it.”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 18:10-18:19
“I have zero staffers.”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 35:38-35:40
“It's the only dedicated funding for school libraries in the entire state.”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 43:01-43:07
“My family has been in Wisconsin for... seven generations now.”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 02:26-02:32
“In Wisconsin, [unclaimed property] is actually administered by the Department of Revenue.”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 02:27-53:27
“My family actually lived in Saudi Arabia. My father worked for an oil company out there.”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 02:50-02:56
“It was at the time it was called Aramco. Now it's called Saudi Aramco. It was nationalized in the 80s, I believe.”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 05:52-06:00
“They have Boy Scouts, you know, Boy Scouts of America in Saudi Arabia.”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 07:49-07:53
“The mountain range there, the Sear Mountains, are kind of the mirror image of the mountains right across the Red Sea in Africa.”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 07:57-08:05
“Most Bills aren't partisan. Most bills make a necessary change that's often requested by either an industry or local government or, you…”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 17:21-17:34
“During my time [in the legislature], the powers had been moved away from the state treasurer's office.”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 27:07-27:12
“We actually had a constitutional referendum to get rid of the [state treasurer's] office, and that failed.”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 27:11-27:17
“60 some percent voted against getting rid of [the state treasurer's office].”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 27:17-27:21
“I actually ran for the Assembly [in 2018].”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 28:41-28:43
“Honestly, because of COVID I was able to graduate law school in two and a half years instead of three years.”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 29:02-29:07
“I graduated December of 21.”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 29:16-29:20
“I'm one of three board members with the Attorney General and Secretary of State.”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 36:08-36:12
“This is actually in the state constitution since 1848.”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 36:23-36:28
“We have about 7. A little over 70,000 acres left still remaining.”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 37:48-37:53
“Today we're not really selling the land.”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 38:04-38:07
“We get, I think it's over a million dollars from that land [timber rights].”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 38:06-38:16
“The rest of the money, though, $1.6 billion, is now in the fund.”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 38:15-38:21
“It's managing some land, but also what's called the common school fund.”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 38:31-38:36
“The common school fund... That's up to $1.6 billion.”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 38:33-41:20
“Per the constitution, we're not allowed to spend any of the principal.”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 41:20-41:24
“This last year, we made a little over $70 million in profits.”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 41:37-41:43
“We send it to every school district in the state.”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 41:47-41:50
“The legislature made a very important change. They allowed us to invest in stocks you couldn't before.”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 42:14-42:21
“There's no state budget item that just goes to school libraries.”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 43:07-43:10
“When I started, I think it was 1.4. Now it's up to 1.6.”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 43:38-43:42
“The organization has a municipal loan program. It gives out, I believe it's around $300 million in outstanding loans right now.”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 45:03-45:13
“The BCBL loan program is very quick because we don't need to check on their collateral.”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 45:36-45:42
“We also have no prepayment penalties.”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 46:00-46:03
“All the interest they pay go straight to the schools.”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 46:49-46:53
“When a business can't return money, they're required by law to turn it back to the state.”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 54:02-54:08
“There's a certain dormancy period where they're supposed to try to get a hold of you, and if they can't, they are eventually supposed to…”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 54:27-54:34
“Once it turns over to the state, the state does not own it and it does not keep it. It just holds onto it till you claim it.”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 54:57-55:03
“Since 2019, they'll actually pay you interest on any money that's been sitting there.”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 55:36-55:41
“If you have stocks that they, they sell the stocks off and just hold the money.”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 55:53-55:57
“If it's cash, it stays there forever until you claim it.”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 56:09-56:12
“There's never a fee [to claim unclaimed property].”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 56:11-56:14
“They're going to require you to prove basically who you are because there's been some scammers and fraud.”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 56:13-56:19
“It's any type of payment that a business is supposed to be sending to you that maybe the check never got there.”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 57:14-57:20
“Unpaid wages that say a last paycheck that didn't get cash.”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 57:27-57:31
“If somebody's trying to charge you to do this, just say, nope, I can do it for free.”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 58:00-58:05
“You'd have to give them the exact same information you'd give to the government anyways, except they're taking a cut of it.”
THE DIFFERENCE WITH WILL MARTIN / JOHN LEIBER | Uploaded November 22, 2025 | 58:05-58:11