Steve Moore interviews financial expert Rob Arnott, who discusses his Fundamental Index strategy as a way to rebalance portfolios based on business size rather than volatile market values. Arnott explains the Laffer Curve to argue that excessive taxation eventually yields zero revenue, suggesting that high-tax states like New York and Washington risk losing their tax base as wealthy residents move to maximize their after-tax income. He concludes by advocating for a politics of gratitude toward successful entrepreneurs, asserting that billionaires like the "Magnificent Seven" create immense societal value by providing products and services that improve lives.
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