 So there's an economic reason that progressive taxes are bad. There is a political reason why progressive are bad. But I think fundamentally the real reason progressive taxes are bad is a moral reason. It's not your money. It's unjust. You're penalizing the people who produce. You're penalizing virtue. You're taxing virtue to be productive, to create great wealth, to have vast income. It's a sign that you are creating value, that you're using your mind in pursuit of your own life in a way that creates value for other people, for everybody. We are all massively better off for those people who make more than $10 million a year. They're the people who fuel this economy. They're the people who make the world turn. They're the people who create, produce, innovate, imagine the products that we all use. We should be thanking them. We should be telling them their taxes are now zero because they've given so much. If you think about Ayn Rand's inverted pyramid of ability, the great industrialists, the great entrepreneurs, the great CEOs, we stand on their shoulders. Yes, Bill Gates might have made $70 billion for himself, but he created trillions of dollars of wealth. The amount of money that he got relative to the benefit that he created for all of us is miniscule. And then we want to penalize him more. We want to penalize him by taxing him a special rate just for evil people like you. I mean, what is the signal that a culture sends to its entrepreneurs, to its business leaders, to its creators and builders and makers when it taxes the extra money that they make at 70, 80, 90 percent? What does the message always see as sending? The innovators, entrepreneurs of the world, when she wants to tax them at 70 percent? You're nothing. You're nobody. It's not your money. What you do is meaningless. You exploit us. Basically, it's driven from a Marxist perspective. It's the idea that the only way you can make a lot of money is if you exploit other people. So we're taxing a lot of that money in order to penalize you in order to redistribute that wealth to the people you exploited. But if you understand the wealth is created, they're not only not exploiting other people. They're creating the jobs. They're creating whatever wealth these other people have. These entrepreneurs are creating it. They're making it possible. Whatever jobs you have, that job was created by some innovator, some entrepreneur, some business leader, by some capitalist who deployed capital to create the company that now employs you. Your job doesn't arise out of nowhere. Your job is not a guarantee. It doesn't have to come into being. And it's not Donald Trump bringing jobs into being. It's not politicians bringing jobs into being. It is businessmen. And then we want to send a message. We hate you. You don't deserve this. It's unjust what you're earning. So we're going to take 70% away from you. I mean, I think the only legitimate tax rate would be a regressive tax rate. That's why I'm so much for a consumption tax if we could get rid of the 16th Amendment. Because a consumption tax basically taxes when you spend. And it's a flat rate. You don't have luxury good taxes. You don't have sin taxes. You don't have any of these so-called consumption taxes that are just horrible. And it's a tax that recognizes that if you want to keep your money, you can keep your money. Nobody's going to take your money away from you. It's your money. Now, again, even a consumption tax is wrong. Even a consumption tax is evil. Because it's still using coercion to take money away from you. Every time you buy something, the government takes a bite. That's wrong anymore. But it's not quite as wrong as if you earn an extra dollar, if you create an extra value, if you create an extra job, if you make something additional, if you build something new, if you innovate, real innovation, if you make a profit. No, profit is virtue. Prophets are virtuous. Prophets are signs of virtue, signs of value creation. And to tax them is wrong. To tax your income, to tax your work, to tax your effort, to tax your thinking, to tax your mind is wrong. All income taxes should be scrapped. But if you had to have them, make them flat and make everybody pay. Everybody. You make $10,000 a year, whatever the flat tax rate is, hopefully it's 10%, 5%. Flat. Since you're not penalizing success, you're not penalizing ability, you're not penalizing value creation. I mean, I think, and if I were doing it, it would be flat, like a flat income tax rate until let's say 500,000 and anything over 500,000 is zero tax. So in that sense, it would be regressive. So the opposite of OAC, anything over 10 million is tax-free. Everything over a million is tax-free. I would actually make it over 500,000. Whatever the number happens to me. But the idea of if you, wow, if you can generate wealth at greater than half a million dollars a year, wow, you must be creating real value out there. The last thing we want to do is penalize you for that. The last thing we want to do is take any dime from you, not only that, but I recognize that you are probably good at investing your capital. I don't want to take the capital and give it to Washington. For them to waste it, throw it away, redistribute it. I want you to do whatever, you know, bill gates, go invest the money. That would be great. So no, and I've said this before, flat tax with no deductions, no exclusions, no nothing. Every dollar revenue you pay acts, no mortgage deduction, no charity deduction. Nothing, the government should not be in a business of trying to manipulate our behavior using the tax code. Now this will never pass because everybody thinks it's a good idea to tax wealth and the wealthy themselves think it's a good idea because they feel guilty about it. All right, so the evil of the taxes is coercion. The evil of progressive taxes is that it penalizes men of ability. It penalizes the mind, it penalizes innovation, thinking, progress, value creation. And the more you create, the more virtuous you are, the more successful you are, the more you've applied yourself, the more values you create, the more meaningful those values are, the more we penalize you. There's just viciousness in that scheme. Progressive taxes are vicious. Hatred of the good for being the good. They are driven by envy and they're accepted by the rich because of guilt.