Jamal

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.

But as a result, people like him, meaning great entrepreneurs, can spend all their time thinking about what to build. Not tax optimization. Exactly. Or how to account for it. So could you imagine if these guys basically use Doge as a mechanism to shrink the tax code, create a flat tax potentially? I know that that has to be passed by Congress. I understand that.

But as a result, people like him, meaning great entrepreneurs, can spend all their time thinking about what to build. Not tax optimization. Exactly. Or how to account for it. So could you imagine if these guys basically use Doge as a mechanism to shrink the tax code, create a flat tax potentially? I know that that has to be passed by Congress. I understand that.

But the idea of just cutting this all the way down and then finding through that process what you actually need, I think can find America 100, 200 basis points of GDP growth. It could be an economic renaissance.

But the idea of just cutting this all the way down and then finding through that process what you actually need, I think can find America 100, 200 basis points of GDP growth. It could be an economic renaissance.

I think that that's a good idea, but it has to be quarterly. I think that's a good idea, but J. Cal, I think you first have to cancel all these regulations and then say, whatever we need, we will reenact To your point, on a five-year shot clock that then has to be renewed in a new congressional period. And I think that that's extremely healthy. Well, because you know what?

I think that that's a good idea, but it has to be quarterly. I think that's a good idea, but J. Cal, I think you first have to cancel all these regulations and then say, whatever we need, we will reenact To your point, on a five-year shot clock that then has to be renewed in a new congressional period. And I think that that's extremely healthy. Well, because you know what?

Just one last comment. In fairness to these government employees... The one thing is that it's not their fault, meaning in the sense that they were hired into a regime where the incentive was to regulate so that you had things to oversee. And so they did their job. In fact, I would say they did their job incredibly well.

Just one last comment. In fairness to these government employees... The one thing is that it's not their fault, meaning in the sense that they were hired into a regime where the incentive was to regulate so that you had things to oversee. And so they did their job. In fact, I would say they did their job incredibly well.

But the point is that now we need to pivot for them to do a totally different job.

But the point is that now we need to pivot for them to do a totally different job.