Srdjan Dragić

David Friedberg Explains The Slow Spiral of Socialism “Government programs create an anchor. They are a shackle.” “This is the spiral of socialism.” “The government programs that are meant to provide support to people require an increase in taxation. That revenue has to come from somewhere.” “That taxation ultimately leads to an attrition of economic value in that region.” “Then you have to increase taxation more, and you end up in the spiral.” “And we're seeing this now, not just in New York where Mamdani’s proposing to increase taxes, but across the entire West Coast.” “We talked about the 5% billionaire tax. So yes, that's a problem for rich people. Great. No one gives a sh*t about us.” “But where does this go?” “In the proposed billionaire tax, it actually gives power and authority to the California State Legislature that they can actually redo this wealth tax at a different level and a different rate in the future.” “Think about what that does. It now gives property seizure rights to the California State Legislature to set a value level, so anyone now that's got over $100M net worth, and then it becomes over $10M, and then anyone with $1M net worth, and the state can take 5% of your assets every year.” “Very quickly it becomes the process by which socialism and the socialization of assets that get seized by the government is realized.” “Once you're hooked on the government for some sort of benefit, it's very hard to unhook yourself.” “And it definitionally becomes a spiral. That's what leads to socialism.” “And we have seen it time and again. It's not a big revolution. Socialism emerges slowly.” “Gavin Newsom yesterday on stage at DealBook, talked about redistributing wealth. Ro Khanna is talking about redistributing wealth.” “This is becoming the Democrat party line, and they're going to end up trying to seize this moment to take these socialist principles.”