 So this one's easy, right? Because I just convinced everybody here that inequality is not a problem, so why would you raise taxes for that? So no. And this really goes to the heart of what I think, you know, he promised I would talk about rights, so I'll talk a little bit about rights. And really I want to talk about the role of government. Why do we have government? What's the purpose of government? In my view, the purpose of government is to do one thing and one thing only. And that is to protect our freedoms, to protect our rights. And rights are not whatever you want them to be. Rights are not whatever we feel like we want. Rights are something very specific, at least as understood by the people who articulated these ideas way back. Rights are about your freedom. You have a right to your life, which means you have a right to pursue the values you believe are necessary for your life, and nobody has a right to question them. Nobody has a right to stop you unless you do one thing, unless you try to use force on another human being. The whole idea of rights as John Locke saw it, John Locke was the first to really articulate the theory of rights, was the idea that force, violence, coercion is bad, and we need to extract it from human society. We need to leave individuals free to pursue their life, liberty, happiness, free of force, free of coercion, free of fraud, free of people trying to steal our stuff from us. And that is the purpose of government. Government is set up to protect us from crooks, from frauds, arbitrate disputes, help us with things like defining property rights, because that's important to that definition of when do I cross over and violate your rights, when am I using force against you? But other than that, government has no role in our life. Healthcare is a voluntary transaction between us. There's a provider and somebody who has a need, just like in any other industry. That is a voluntary transaction needs to be left voluntarily, unless again there's fraud or theft or anything to the private sector. Education, in my view, I'll get 100% disagreement. Education is a voluntary transaction. The best thing we could have in education is to privatize it, is to get the bureaucracy, the standardization out of it. I find it amazing that entrepreneurs today are trying to make the latest, greatest little app for this thing. Who cares? Imagine that brain power going into innovation in education. Something really important. Let's bring the profit motive. Let's bring innovation. Let's bring competition to education, rather than granting it to a bunch of bureaucrats who you don't trust with your mail, but you're willing to trust with your kids' education. That to me is bizarre. So none of these, these are market transactions that are done voluntarily, none of them, in none of them. The government have a role. In none of them does the government have a role. So taxes should be a significant part of our life, because the fund defense, the fund police, the fund, the real protection of our rights, of the opportunities that we have. You don't need much government. You need a very small government, a very limited government. Taxes should be way lower than what they are today. And not only would taxes that are way lower, I think, be more correct from a normative perspective. But I think that the formula to getting economic growth is pretty simple. It's low taxes and massive deregulation. If we lower the regulatory burden on American businesses, on you guys, if we lower taxes on wealth creation, what are you going to do with that money? You're going to invest it. You're going to produce. You're going to create. You're going to build. And that is what drives economic growth. And that's what drives economic opportunity. Opportunity is there when there are jobs. Opportunity is there when there's new businesses being created. Opportunity is there when people with money are investing in production rather than sitting on it, because they're so afraid of what the government will do next year, they don't want to commit it to anything, which is what's going on today with a massive uncertainty in our economic world. So again, the whole issue of inequality, in my view, is not the issue. Just think about what would drive our economy to be successful. What would be helpful to low-income people to drive them towards greater economic prosperity? And the laws that we have today do the exact opposite. The level of government intervention in the world today does the exact opposite. I don't know how much time I have. Where's the timekeeper? 30 seconds? We've done it. You can't do that. Four seconds. Thank you. When I'll pose to you as a rather practical question, better yet, I'll pose a quote and then a practical question. No one would ever call Oliver Wendell Holmes the great jurist, the great Civil War veteran, the great Massachusetts citizen. I never want to call him any liberal or progressive, but he's the one whose name is on there in front of the IRS that says taxes are the price of a civilized society on this thing. Now, you can have too much civilized society, perhaps, on this, but we all know that we have to find some way to fund what we do. And a practical question is this. If not taxes, then what? Are we going to have a bake sale for the Defense Department? Are we going to go have hyperinflation, which is a tax on all of us, and print these little coupons that say US dollar with nothing to back on this type of thing? If we had said those things in 2014-15 right now, you might say, yeah, that's a great idea. Think about saying those things in 1941. Think about saying we're going to go and we're going to raise it all with war bonds and have Jack Benny finance the defeat of Hitler and Tojo on these things. There is a role for government and sometimes it's a quite substantial role for it in the common defense and the promoting the social welfare and making a more perfect union. It was Eisenhower who told us in the mid-1950s that building an interstate highway in order to make it all more efficient for all of us to transport goods and services was a matter of national defense, of national security. He saw those things and couched it that way for his individuals, his Republican brethren, who were a little bit concerned about this creeping socialism in the way of this. Are there enough in the way of highways or enough space for this? It's a little bit like those farmers' prices and those interest rates again on that type of thing. But what it tells us is that there is a role for government. Sometimes government has a very important role to play with this and taxes and government action step in when others will not. Think about that great socialist Richard Milhouse Nixon who gave us in 1973 the only federal agency that ever makes a profit every year, the Overseas Private Investment Corporation or OPIC. Why did it create? It creates and provides political risk insurance for companies like yours to go to difficult parts of the world where they may see the government stepping in to expropriate them. Where was the private market on that? It wasn't there. Their feet were as cold and running for the doors every other investor there was. Somebody had to stand up and step in and we find that with government. Now they can overstay their welcome, right? Perhaps the post office has overstayed its welcome in terms of the scope of its business and that's fine. That's all part of the evolutionary notion of what is community and what are the other things that we share in common. But that doesn't mean that we throw everything out and all this business about the market. There's nothing magic about the market. The market is a set of rules, a set of conventions, a set of norms, I dare say the set of ethics. The open outcry in the Chicago Board of Trade, the electronic trading in the New York Stock Exchange, currency modes that go around the world, they set up on something more than just zeros and ones. They set up in part based on what we bring in the way of our sense of what a community is, what we have in the way of shared obligations. Indeed, the whole idea of rights has with it, and I'm a lawyer, excuse me for that, a Hofeldt in sense, Hofeldt was a legal theorist who said for every right, there's somebody's obligation. For every privilege, there's somebody has no right. We have to be very careful about what we do in terms of right because what it does to create in terms of the reciprocal obligation to others. Taxes are part of that obligation. Other forms of support for that are that obligation. I want the government to have the capacity to step in when I need them. And I want them to step back in many of the times that I don't. That's your choice. That's our choice as members of a community. Thank you. So we could get into a very long discussion of rights, but I do not believe rights impose obligations. You're born with inalienable rights. That's our Declaration of Independence does not say, and responsibilities and obligations. It says that you have a human being have a right to your life. And as long as you don't violate somebody else's right, again, through course of action, you're free to do as you please. That is what a right means. But let me give you an example and a very quick example of the damage that government does to the people that I think we care about. Everybody cares about. And I'm going to use the minimum wage because it's in the news. Now, I don't know a dumber, most stupid economic policy than the minimum wage because what the minimum wage does and somebody should hopefully have done supply and demand. What the minimum wage does is raise the price of labor, unskilled labor, the most unskilled labor. What happens when you artificially raise the price? Demand for that good goes what? Goes down. This is, again, very simple stuff. All you're doing through a minimum wage, any level, I don't care what it is, all you're doing is institutionalizing some people into never having a job. Because some people are priced out of that market. And if you raise it, more people are going to be priced out of the market. Anytime you try to manipulate prices in an economy, they're going to be untold unintended consequences. You're not helping anybody. Indeed, you're hurting the exact people that you're trying to help. And these are kind of the kind of structural problems that we have all over the economy that actually holds people back, that actually hurts people because when you don't give a person that first job, then they're not going to have that second job. If they can't work for $5 an hour, they're probably never going to work for $10 an hour. The real tragedy is in a city youth today where unemployment is close to 20%. And a big cause of that, a big cause of that, is the minimum wage at any level. 7.25 today doesn't matter. These are the kind of programs, government programs that we all feel good about, everybody's for the minimum wage. And yet they have horrific consequences. Your own brought up the minimum wage, which is about now, I guess, about 80 years old, part of that socialist Franklin Delano Roosevelt on that. I want to talk about another federal intervention in the market that's 50 years old this year, the Civil Rights Act. What did that do? We pay for that in our taxes every year. We pay for its enforcement. We pay for what it does to get people into those seats for education. What it pays to get people into the waiting room for that interview. What it pays for individuals to be treated in that workforce based on what they do not necessarily where they go to church or where they go to mosque or what the color of their skin is, although what their ethnicity is on these things. Here's government stepping in where government steps in best. Where government helps make markets work by bringing more people into the room to demand those goods and services as consumers, as home buyers that are no longer under unfair racist covenants and the like, as voters, as having the opportunity to be a member of a community. Sure, government can overstep. I'm not sure that raising the minimum wage to 10 bucks is gonna do much in the way of that. It might get us to somewhere where we were somewhere around 1980, at least in terms of real terms. But I know the government does so much in order to make the basis for markets, for individuals to live out what their liberties and rights really are, those don't come free. These are the best investments that we make in terms of the public infrastructure that is physical, the public infrastructure that is invisible, but no less important and probably more.