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that is the problem with government they make every problem they try to solve worse but what's even worse than that is that the problems they're trying to solve generally they created so government creates a problem like look at what they're doing now i was just listening to some politicians this morning talking about the student loan problem and all these student loans they're trying to solve that problem well the government created that problem students wouldn't have loans if it wasn't for the government student loan programs colleges couldn't charge so high such high tuition if the government didn't loan all these money to the kids to bid up prices the government created that problem before the government got involved in college it wasn't that expensive you didn't have to borrow money my father grew up in a you know lower middle upper lower class family his father was a carpenter he had seven sisters you know his father had no money my grandfather had no money to send my dad to college my dad didn't have any money so he had a summer job waiting tables that's all it took he didn't borrow any money he paid for tuition room and board got an accounting degree and he just worked as a waiter over the summers and most of his friends there used to be an expression in america i'm working my way through college okay people work their way through college now they borrow their way through college and when they graduate they got a mountain of debt right and now the government oh my god students have so much debt we need a government solution no we don't it's a government created problem we need a free market solution we've got to get the government out of higher education we've got to get the government out of student loans whether it guarantees them or makes them directly there can't be any more money loaned to anybody to go to college we need to force colleges and universities to cut prices why would they cut prices now the kids got all this government money to pay whatever price they want to they wanna charge you know bring some free market forces into college can you imagine if everybody got government loans to buy cell phones how expensive cell phones would be right now why are they so cheap because the capitalist system brought the price down you know oh well you don't get a government loan so wherever the government is involved same thing with health care why is health care so expensive because the government plays such a big role so wherever you see high prices and or low quality it's because of an excess of government involvement and the only solution is to get government out so that free market forces can come in the government is creating the crises you know it's like they light a fire and they say okay see now we'll we'll put it out we'll protect you from this fire that we lit you know i do believe that government is a necessary evil but the problem is sometimes you know it becomes too big a burden that the negatives outweigh the positives and that's pretty much the case i mean governments can add to the overall well-being and prosperity of a society if they stick to their limited mission of protecting individual liberty and private property that's it so if they can create an environment where i'm more likely to keep the fruits of my labor then i'm going to labor harder and produce a bigger bounty of fruit from which everybody can benefit that's the beauty of capitalism i don't get rich unless i enrich other people in the process but when the government gets so big that the harm that it does outweighs the benefit that it provides well then it's time to get rid of the government right that's what the founding fathers said right you have to dissolve uh the government when it becomes so bad unfortunately we're way beyond that point i mean if you go back to the american revolution and look at what king george was doing in the england what he was doing is nothing compared to what we're doing to ourselves i mean king george in his wildest imagination wouldn't even conceived of the irs he wouldn't have conceived of an income tax i mean the founding fathers objected to a sales tax on t imagine what how much they would have objected to an income tax what if the you know the colonists had to go around keeping records of everything that they spent and all their all their deductions and they had to come up with a tax return and send it over to king george how long would that have lasted i mean there was only about a third of americans that were in favor of the revolution if king george had an income tax everybody would have been in favor of the revolution there would have been no hold outs so you know we've already gone way beyond uh what what king george did any of the founding fathers were alive today they would be leading the revolution to overthrow the government we have right now when you compare the u.s tax rate to most other countries if you live in most countries your national tax rate is your tax rate i mean most cities don't impose another tax so americans you may say oh we have a you know 37 percent tax rate in america well if you live in florida what if you live in california what if you live in new york now you're looking at the high 40s and then what about the obamacare 3.9 tax throw that on so there are a lot of americans living in some high tax states that are north of 50 of their income in tax now that doesn't even count what they pay in property taxes or sales taxes or stuff like that so when you compare the marginal income tax rate in america to germany or france or japan you got to add in those local taxes state and local taxes even new york city imposes its own city income tax on residents so you live in new york city you're paying federal tax state tax and city tax and by the way they can't deduct those taxes anymore i mean there's a ten thousand dollar uh cap it used to be unlimited uh but that changed under trump so that made those taxes an even bigger burden because they're no longer deductible against your federal tax you just add it right on top so i think america is one of the highest taxed nations in the world on a marginal tax break now we do have ways to avoid that right like we have the carried interest if you're a hedge fund manager or private equity guy you don't have to pay that top rate you can pay capital gains rate uh but most people aren't able to take advantage of that carried interest tax loophole which was by the way preserved in the inflation reduction act they made sure to take care of the hedge fund and private equity billionaires they didn't want to go after them but they got 87 000 irs agents to go after the middle class even though we're one of the most heavily taxed we're not taxed enough because we're running two to three trillion dollar a year budget deficits so that's how much higher taxes would have to be if the government was fiscally responsible they would have to pretty much double our tax rates in order to collect all the money that they're spending but the real measure of taxation is spending every dollar a government spends is the dollar the public is on the hook to pay and so in reality the way we're paying for these budget deficits is with inflation so inflation is actually a tax it's a tax on the public to provide for government spending so you have to add all these big price increases to your income tax and your you know your property tax to see how much you're paying in taxes so if you know your grocery bill and your rent and your food bill if you're paying an extra 10 grand a year more than you were paying last year that's just 10 grand in taxes that's really all it is you
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