The, the rich can afford it.

Ha.

You know, th- no. It's not.

Uh, you know, when we look at the facts, what you knew is rich can hire lawyers, accountants, deferred income specialists, favor grabbers, pol- you know, politicians.

They, they have the ways and the means to be able to do th- they can leave the country.

Now in the US, it's really difficult to leave our country.

We have a, a terr- uh, a national, an international school.

Arthur, do you wanna come back on the tax?

Okay.

And I know him very well, and I can sit there, and I've known lots of Fed chairmen.

I go way, way back.

I mean, I knew Arthur Burns.

I knew McChesney Martin.

I mean, I, I've gone way there.

I know all of them.

[laughs]

And, and I think that is why some of these billionaires have been writing letters saying, "Please do more to tax us." So why don't we listen to them? Why don't you listen to them for a bit?

I do.

I do.

I read, I just gave you Warren Buffett's, the one when he said, "Tax me more, please, please, please," and he got the Medal of Freedom as a result, then that's great.

Uh, but what you want to look at is facts, not opinions.

I mean, everyone's got an opinion.

This is about facts, not how you feel.

Um, Arthur, is there a country in the world that you think comes close to the way you would like to see taxation applied?

Mm-hmm

... is one of the biggest pluses this world has ever seen.

And as you look at the price of gold, there are two things that really reflect, uh, the price of gold.

One is, uh, the price rule, which I think as Kevin Warsh is going to introduce and really bring down the long-term prospects for inflation, number one.

And number two, uh, war, wars are really bad for the price of gold.And assuring peace through strength, as I think he is doing in Iran, I think will be very good for the world economy, uh, and life itself on Earth.

I mean, so these are the things I really think I sort of summarize in my five pillars.

You know, taxation, uh, government spending, uh, um, monetary policy, price stability, uh, regulations and trade.

When you look at a, a California or a New York or, or let's say an Illinois, you know, some of these states that are really just really struggling, do you have optimism that if somebody got into power there who had sort of your mindset in terms of what could happen w- with adopting better tax policy or better fiscal policy or whatever-

Yes.

Affordability is a supply side construct, period.

It's nothing else but that.

If there are no houses, houses are not affordable.

If there are 10 houses, there are 10 houses that are affordable to at least 10 families, period.

The more the supply, the more affordable the product.

So supply side economics is the answer to affordability.

Okay [laughs]