Jamal

And before I talk about what Doge can do, I just want to highlight something that's been going on in California, because I think it explains a lot. In California, and I'm just going to read this stat because it's incredible. The regulatory burden in California as a state from 1997 to 2015, this is when the data is available that I found, has increased by almost 50%.

And before I talk about what Doge can do, I just want to highlight something that's been going on in California, because I think it explains a lot. In California, and I'm just going to read this stat because it's incredible. The regulatory burden in California as a state from 1997 to 2015, this is when the data is available that I found, has increased by almost 50%.

As of May of 2022, there are almost 61,000 individual regulations in the state of California. So what does that mean and where does it come from? And Nick, if you can just put out the tweet, it has happened over a period of time in which the government has been the absolute singular source of employment in the state.

As of May of 2022, there are almost 61,000 individual regulations in the state of California. So what does that mean and where does it come from? And Nick, if you can just put out the tweet, it has happened over a period of time in which the government has been the absolute singular source of employment in the state.

And we talked about this before, where this is also a problem at the federal level when you look at GDP and job growth, because it looks like a lot of these jobs are actually fake manufactured government type jobs. So why is this a problem? You've seen in California, the issue that we have is that if you have

And we talked about this before, where this is also a problem at the federal level when you look at GDP and job growth, because it looks like a lot of these jobs are actually fake manufactured government type jobs. So why is this a problem? You've seen in California, the issue that we have is that if you have

A growth in the number of employees, in this case in California, all the job growth in recent memory has been state employees. What is the byproduct? Regulations go up. What is the byproduct of that? There are actually no private sector jobs, and more to the point, the private sector flees. So now let's bubble that up and look at the federal government.

A growth in the number of employees, in this case in California, all the job growth in recent memory has been state employees. What is the byproduct? Regulations go up. What is the byproduct of that? There are actually no private sector jobs, and more to the point, the private sector flees. So now let's bubble that up and look at the federal government.

Nick, if you want to just show that chart that I sent you. What is incredible, J. Cal, is that the more people are hired by the government, lo and behold, what do you see? The number of regulations issued by federal agencies has just continued unabated year in, year out. You cannot run a country like this. So- Because these accumulate, right?

Nick, if you want to just show that chart that I sent you. What is incredible, J. Cal, is that the more people are hired by the government, lo and behold, what do you see? The number of regulations issued by federal agencies has just continued unabated year in, year out. You cannot run a country like this. So- Because these accumulate, right?

Congress is doing less and less of a job actually trying to frame how the country should work. That white space is filled in, as Freeberg said, by these federal agencies. It compounds and accumulates. This is not replacing laws. None of these regulations have expiry dates. And so as a result, I think what you probably have is an incredible restraint on the US economy.

Congress is doing less and less of a job actually trying to frame how the country should work. That white space is filled in, as Freeberg said, by these federal agencies. It compounds and accumulates. This is not replacing laws. None of these regulations have expiry dates. And so as a result, I think what you probably have is an incredible restraint on the US economy.

I think that the US economy could be growing at 4% or 5%. But the reason that it doesn't grow at 405% is in that one single chart. It is impossible to be able to live up to your economic potential when you have this burden on your neck. So I think the real opportunity for Doge is to basically do whatever it needs to do using the law to wipe as many of these regulations off the books.

I think that the US economy could be growing at 4% or 5%. But the reason that it doesn't grow at 405% is in that one single chart. It is impossible to be able to live up to your economic potential when you have this burden on your neck. So I think the real opportunity for Doge is to basically do whatever it needs to do using the law to wipe as many of these regulations off the books.

We are better off cutting them all to zero, and then finding the ones we really need and then repassing those, then we are going at this piecemeal. And there's some incredible ideas, by the way, that this creates. Nick, I don't know if you can find this tweet, but Doge asked what people think of the IRS.

We are better off cutting them all to zero, and then finding the ones we really need and then repassing those, then we are going at this piecemeal. And there's some incredible ideas, by the way, that this creates. Nick, I don't know if you can find this tweet, but Doge asked what people think of the IRS.

And there was an enormous amount of activity that essentially said, give us a flat tax and wipe out the tax code. People were very flexible in the amount of tax that they were willing to pay. But could you imagine the simplification in the tax code and the implications of that? I was in Singapore, by the way, 10 days ago when I started my trip.

And there was an enormous amount of activity that essentially said, give us a flat tax and wipe out the tax code. People were very flexible in the amount of tax that they were willing to pay. But could you imagine the simplification in the tax code and the implications of that? I was in Singapore, by the way, 10 days ago when I started my trip.

Nick, beep out the name of the person I'm about to say, but I had a long meeting with who is there. And I was asking him the complexity of dealing with taxes. He's like, what do you mean? We pay a very simple tax system. There's no capital gains in Singapore. And so as a result, our filing requirements are de minimisly small.

Nick, beep out the name of the person I'm about to say, but I had a long meeting with who is there. And I was asking him the complexity of dealing with taxes. He's like, what do you mean? We pay a very simple tax system. There's no capital gains in Singapore. And so as a result, our filing requirements are de minimisly small.