WORK?
I DON'T THINK SO EITHER.
JOINING ME NOW FROM REASON.COM
AND REASON TV WHERE HE SERVES AS
EDITOR AT LARGE, IT IS NICK
GILLESPIE.
NICK, WELCOME BACK.
>> THANKS FOR HAVING ME.
KENNEDY: HERE YOU HAVE -- TIPPY
TOP.
KENNEDY: WHOO!
AND THE TIPPY TOP BE DAMNED TO
HELL!
SO YOU HAVE A LOT OF PEOPLE WHO
ARE HURTING BECAUSE OF AREAS OF
THEIR LIFE WHERE THERE'S SO MUCH
GOVERNMENT TINKERING.
SO ELIZABETH WARREN WITH WANTS
TO OVERBURDEN THE ECONOMY,
CREATING MORE BIG GOVERNMENT
PROGRAMS.
IS THAT THE BEST WAY TO GO ABOUT
SOLVING THIS?
>> I DON'T THINK SO.
AND, I MEAN, HER WEALTH TAX --
AS YOU WERE POINTING OUT, IN
EUROPE THIS HAS BEEN TRIED, YOU
KNOW?
IN TONS -- IN COUNTRIES THERE'S
A LOT LESS OPPOSITION TO TAXING
PEOPLE, THEY ALL GOT RID OF
THEIR WEALTH TAXES BECAUSE
THEY'RE HARD TO IMPLEMENT AND DO
IN ANY KIND OF MEANINGFUL WAY.
IF YOU'RE TALKING ABOUT PEOPLE
WITH $50 MILLION, THEY'RE GOING
TO FIND WAYS AROUND THIS AND A
WAY THAT SHRIVELS UP THE AMOUNT
OF MONEY IT ACTUALLY RAISES.
THERE'S A PRAGMATIC PROBLEM WITH
IT.
IT'S A CONSTITUTIONAL ISSUE
BECAUSE IT --
KENNEDY: YES.
WHICH IS DIFFERENT THAN AN
ESTATE TAX OR AN INCOME TAX, AND
OBVIOUSLY, NOT A SALES TAX.
>> RIGHT.
WHICH ARE ON DISCREET EVENTS,
NOT AN ONGOING COMPILATION OF
WEALTH.
SO IT WOULD BE TIED UP IN THE
COURTS FOREVER.
AND THEN I THINK THE LARGER
QUESTION WHICH IS, I THINK, WHAT
YOU WERE GETTING AT IS WHERE I
THINK OCASIO-CORTEZ AND
ELIZABETH WARREN ARE SCORING
POINTS SAYING, LOOK, WE'RE NOT
GOING TO TALK ABOUT ECONOMIC
GROWTH.
WE'RE GOING TO TAKE THAT FOR
GRANTED, AND WE'RE JUST GOING TO
TAX AND REGULATE A LOT OF THINGS
TO GET THE WORLD THAT WE WANT.
AND I THINK A BETTER APPROACH IS
THE FIGURE OUT HOW DO YOU GROW
THE ECONOMY SO THAT IT'S GROWING
AT 3 OR 4%, BECAUSE IT'S
ACTUALLY ECONOMIC GROWTH THAT
GIVES RISE TO RISING STANDARDS
OF LIVING THROUGHOUT TIME, AND
IT ALSO HELPS KEEP PRICES IN
CHECK.
YOU ABSOLUTELY RIGHT THAT HEALTH
CARE AND EDUCATION HAVE MASSIVE
INFLATION.
LIKE MUCH MORE THAN THE REGULAR
RATE OF INFLATION.
THOSE ARE ALSO MARKETS THAT ARE
DOMINATED BY GOVERNMENT
FINANCING, AND THAT'S NOT AN
ACCIDENT, THAT IS THE PROBLEM.
KENNEDY: AND THERE'S NO
INCENTIVE NOT ONLY FOR THESE
SPECIFIC AREAS TO MANAGE
THEMSELVES BETTER, THERE'S NO
INCENTIVE FOR THE GOVERNMENT TO
CUT ANYTHING DOWN, SO THEY ARE
SUSTAINABLE.
WHAT HAPPENS IF YOU JUST KEEP
GOING, IF YOU JUST KEEP ADDING
MORE PROGRAMS AND MORE TAXES?
>> YEAH, WE'RE STARTING TO
UNDERSTAND THAT, AND IT'S, YOU
KNOW, WHAT HAPPENS IS YOU HAVE
SOMETHING LIKE MEDICARE FOR
PEOPLE WHO ARE 65 AND OLDER IS
ALREADY BANKRUPTING THE COUNTRY.
YOU MAKE IT MEDICARE FOR ALL,
YOU KNOW, IT'S SOMETHING LIKE IN
CALIFORNIA THE CALIFORNIA STATE
BUDGET IS ABOUT $150 BILLION A
YEAR OR SOMETHING.
GAVIN NEWSOM'S PLAN FOR A
VERSION OF MEDICARE FOR ALL IN
CALIFORNIA WOULD COST $400
BILLION.
SO, I MEAN, THIS IS WHAT
HAPPENS.
IF YOU KEEP ADDING MORE AND MORE
STUFF ON THE ECONOMY --
KENNEDY: IT'S TOTALLY
IMPRACTICAL, BUT THEY GO FOR THE
MORAL ARGUMENT WHICH IS HEALTH
CARE IS A RIGHT.
>> WELL, AND ALSO THAT, YOU
KNOW, BILLIONAIRES ARE IMMORAL.
YOU KNOW, THAT THAT IS A POLICY
FAILURE.
OF AND I THINK THAT'S REALLY
PROBLEMATIC.
YOU KNOW, AND, AGAIN, I'LL SAY I
COULD UNDERSTAND, YOU KNOW, IT'S
LIKE A BILLION DOLLARS.
I HAVE NO WAY OF EVEN
CONCEPTUALIZING THAT.
BUT PEOPLE LIKE HOWARD SCHULTZ
OR STARBUCKS OR BILL GATES OR
JEFF BEZOS, THEY DIDN'T GET
THEIR MONEY BY STEALING IT FROM
PEOPLE.
THE LEAST OF THE THING THAT'S
INTERESTING ABOUT A FREE MARKET
SOCIETY IS THAT SOME PEOPLE
BECOME BILLIONAIRES, IT'S THAT
YOU HAVE PEOPLE GETTING MORE AND
MORE STUFF AT CHEAPER PRICES AT
HIGHER AND HIGHER QUALITY.
THAT GOES FOR FOOD, EDUCATION,
CLOTHING, IT GOES FOR JOBS AND
LIFESTYLES.
AND THAT'S WHAT WE SHOULD BE
FOCUSING ON, HOW DO WE GROW THE
ECONOMY, MAKE IT SO THAT IT IS
EXPANDING IN A WAY THAT EVERYONE
WINS?
KENNEDY: YES.
AND INDIVIDUALISM IS NOT A
FILTHY PORNOGRAPHIC CONCEPT.
>> I DON'T THINK SO.
I'M PRETTY SURE --
KENNEDY: THANK GOD.
THAT'S MY CHOICE.
THAT IS A RIGHT.
IF YOU WANT --
>> FROM MY COLD, DEAD HANDS.
YES.
KENNEDY: THAT IS YOUR RIGHT.
YOU STEALING MONEY FROM ME TO
PROVIDE SOMEONE ELSE WITH HEALTH
CARE, THAT IS NOT YOUR RIGHT.