Ray Dalio

I'm just a, you know, like I'm a mechanic.

Um, generally speaking, they're moving to where there's, um, civility and opportunity and there's not much fighting there.

You know, they want to be in places that, um, have a, um, um,

They go to places that have lower taxation but also vibrancy.

Texas and Florida, as you say, and here in the Middle East or in places that are also vibrant and things are happening.

So you could see the patterns of those kinds of movements.

And then the problems that that creates is a hollowing out in those places, the other places.

Because when they leave the tax base,

roughly speaking, the top 10% pays about 80% of 76% or something of the taxes.

And so when you lose, let's say half of them, you lose a big amount of tax revenue.

And then that becomes a dynamic.

I... You know, I just... I hope so.

And I just don't know.

I think...

I think deep in us, we want, most Americans really, really want that and so on.

And then at the same time, there are irreconcilable differences.

And I think it was a recent poll, something like 25% of the population said that they would fight violently for their side.

I mean, some significant percentage, yes.

And so and it only takes a relatively small amount.

So I don't think we can take it for granted.