English transcript

What do you think of the wealth tax?

Because Jack, we were having a discussion earlier,

believes that it might be a good thing.

No, no, Jack, you're going to hell for saying that.

But there is an argument to be made.

No, there isn't.

It's un-American.

It will destroy the fabric of the economy,

punishing wealth and success.

Well, it's not punishing

because they already have billions of dollars.

Right, the difference between having $5 billion

and then let's just say a 10% wealth tax,

$4.5 billion is not quite significant.

It's just the idea that you're made a promise

to come to America as an entrepreneur

to achieve the American dream.

And then some arbitrary politician randomly decides,

we're going to appropriate that from you.

We're going to steal your wealth

just because we feel that a 10% wealth tax is appropriate.

It's not really stealing, it's redistributing.

You're going to go to hell too.

Like both of you are going to hell.

I feel sorry.

I mean, I've heard that word before in Cuba,

in North Korea, in Russia.

It just hasn't been done right.

They're all sh-holes now.

How about Venezuela?

They redistribute all the time to corruption.

It's a sh-hole.

Assuming it goes to corruption, but if it doesn't.

No, the point is-

We're not very corrupt here in America.

No, no, because we have laws and we abide by them.

But one of those laws is you can't steal people's money.

So this idea of a wealth tax is going to be litigated

right to the Supreme Court

and it's going to lose because it's un-American.

And there is no such thing as too much wealth

because it all goes back anyways.

The guy dies or the woman dies that has that wealth.

And then we hit it again with state tax.

You get it back.

And during their lifetime,

they should be able to enjoy their success, you know,

unfettered because they took the risk to create,

you know, what people keep forgetting on this issue.

And Elon Musk is often used as the example, you know,

nearly the wealthiest man on earth now.

How many jobs has he created?

How much tax has he paid?

I mean, if we didn't have him, would there be Starlink?

Would there be, you know, Tesla?

No.

Would there be all this innovation in robotics?

No.

Let's punish him for his success.

Let's make damn sure-

But I think he would be fine with a hundred billion dollars.

No, no, he wants to use that money to,

he lives in a shack somewhere.

He doesn't care.

We're totally kidding.

We don't actually believe in a wealth tax.

Yeah, yeah, yeah.

We're just trying to bait you.

We just thought this was a fun discussion.

You're not going to hell then, and you're lucky.

I was trying to hold back the laughter.

The whole issue is, and he said this publicly,

I need that capital to deploy the next mission.

And he's turned it from Mars to being the moon

just in the last two weeks.

I want to give him as much money,

because if you look at executional skills,

show me anywhere on earth where there's a person like that,

and thank goodness he doesn't live in Russia or in China

or in, you know, North Korea.

He's here in America because he wants

to pursue the American dream.

The reason those countries,

you think about even Europe,

if you have a great idea and you're sitting in France,

you get on a plane and you go to Texas.

That's where you make it happen.

Even as far back as the V2 rockets,

when they were, you know, Germans,

they came to America and set up NASA.

We bring the geniuses here

because they want to live in freedom

and they want to be rewarded the American dream.

Look, I'm very Stallworth on this.

I'm very focused on it.

And when I see bad policy, I rage against it.