Excessive government size and non-productive spending can weigh down the entire economy, creating a downward spiral where increased taxation reduces productive economic activity while debt servicing costs rise, ultimately slowing economic growth.
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The government is weighing down the entire economyAdded:
Gary says that the symptoms that we see in the UK, for example, is that there are 153 billionaires and that those 153 people have somehow got the power to bid up the entire cost of housing, the entire cost of food on all the shelves, every commodity. They're somehow buying up everything and pushing the price up and they're pricing everybody else out of the of housing and commodities and all of those sorts of things. He says what we need to do is we need to attack these 153 billionaires and take their money off them at about of percent per year and then we need to give that back into the economy somehow. My view of the world is that the government's gotten too big and that the government is so big and heavy and non-productive that it's weighing down the entire economy and as they tax us all more and more, the economy's slowing down, they're taking money out of the productive economy, putting it into an unproductive economy. The government is is not particularly known for productivity and then they use that to leverage more and more debt and they take out more debt and more debt and more debt and then we have to have more money going towards servicing and we're on a downward spiral where as the government gets bigger and more unproductive, the productive people within the economy just cannot handle the weight of government. My theory is that economies have never collapsed under the weight of product highly productive entrepreneurs, but they regularly collapse under the weight of unproductive big governments that are too big for the society. Gary would probably hate me characterizing it like that. He'd have a much more elegant way of putting his argument, but essentially, I blame government, he blames billionaires.
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