A Masterclass in Economic Stupidity

Dear Reader,

Look, the academics keep getting it wrong.

I've spent decades watching economists make the same mistakes over and over.

• Bad Policy Is Everywhere Despite Consensus: Economists across the spectrum agree price controls destroy markets and wealth taxes kill growth

• The Tax Hierarchy: We're Doing It Backwards: The best taxes are consumption taxes (least distortionary), then income taxes, then wealth taxes (worst)

• Some Trump Ideas Aren't Terrible: The 401(k) house down payment plan could work for people with too much in retirement accounts (like 80%+) when mortgage rates are low

• Trump’s Final Financial “Gift”: Could make a lot of patriots rich on America’s 250th anniversary.

They advocate for policies that sound great on paper. Live in their ivory towers. Theorize about markets they've never actually participated in.

But here's what I know from actually building businesses and creating real wealth for 40+ years.

A good economic policy makes you richer today and tomorrow. Not just one or the other. Both.

Everything else? That's just politicians stealing from your future to buy votes today.

Pretty simple when you think about it.

Price Controls Are Pure Poison

Even the academic economists have finally figured out some basic truths.

Price controls absolutely destroy markets. Every single time.

Here's how markets actually work. Millions of people make decisions based on what they need and what they can afford. A price gets set. The market clears itself.

It's actually beautiful when government doesn't mess with it.

And yet? Price controls are literally everywhere now.

We've got rent control in New York City. Trump wants to cap credit card interest rates at 10%. Politicians are screaming for energy price controls.

I get why they're doing it, honestly.

The Affordability Lie They're Selling

Affordability is the hot political issue right now.

Lowering prices by government decree sounds like a real solution—if you're completely financially illiterate.

Here's what I've learned over four decades building wealth: When government tries to fix prices, it makes everything worse.

Not better. Worse.

Every. Single. Time.

No exceptions.

Let's Talk About Taxes (I Hate All Of Them)

Look, I hate taxes. Every single one of them.

They punish success. They steal wealth from people who created it and hand it to people who didn't earn it.

But they're also reality. The government needs revenue to function. I get it.

So if we're going to have taxes, let's at least be smart about it.

Good taxes don't completely destroy people's decisions and behavior. That's the key.

A good tax is simple to understand, doesn't distort everything in the economy, and can actually be collected without an army of enforcers.

That's it. Pretty straightforward.

The Tax Hierarchy Nobody's Following

So by these standards, what are the best taxes?

Consumption taxes are best. Then income taxes. Dead last on the list? Wealth taxes.

Now guess what America's choosing right now? The absolute worst ones.

California's trying to tax billionaires on their net worth. And even before it passed, billionaires were already fleeing the state. Seven days, remember?

We've got tariffs everywhere, which are technically consumption taxes but done in the most distortionary, economically stupid way humanly possible.

The Mamdani Insanity Nobody's Talking About

Then there's this Mamdani plan in New York that's absolutely insane.

Listen to this. You earn $999,999? You owe nothing in this special tax.

But earn one more dollar—making it $1,000,000? You suddenly owe $20,000.

This is what happens when socialists who've never built a business in their lives get to make tax policy.

It's economic suicide.

We're Choosing Stupid On Purpose

All this knowledge exists out there. Centuries of economic data. Decades of real-world results showing what actually works.

And we're deliberately ignoring all of it.

Every single one of these policies reduces prosperity. Destroys wealth creation. Makes everyone poorer in the long run.

And here's the thing. Even if you really care about redistribution and helping the poor, these are still terrible policies.

Because there's way less wealth to redistribute when you destroy the people who create wealth in the first place.

Makes no sense.

One Trump Idea I Actually Don't Dislike 

You know what? I actually don’t dislike Trump's plan to let people use their 401(k)s for house down payments.

Why? Because I did exactly this myself during the pandemic.

Turned out to be one of my smartest financial decisions ever.

Two reasons it worked for me.

Mortgage rates were absolutely insane—historically low during the pandemic. And more than 80% of my wealth was sitting in retirement accounts. That's way too much in one basket.

Now in normal times? Emptying your 401(k) to make a huge leveraged bet on a single asset is pretty stupid.

But for some people in specific situations? It makes perfect sense.

Here's the bigger issue nobody talks about though.

The Real Retirement Problem

Many retirees have way too much wealth tied up in their house compared to liquid financial assets.

They're house rich and cash poor. Can't access the wealth they actually have.

If Trump's plan includes smart ways to tap that home equity when you retire without getting absolutely destroyed by fees and taxes?

It might actually help real people.

Like everything in finance, it depends on the details.

But at least it's not as catastrophically stupid as price controls and wealth taxes.

2026: When Reality Hits

So 2026 is supposed to be the big IPO comeback year.

Venture capital funds desperately need exits. Their limited partners are getting really impatient.

Pension funds and endowments have been promised high returns for years now.

This is the year they finally find out what they're actually getting.

Either these private companies prove they're worth the crazy valuations.

Or we all find out they're not.

Should be absolutely fascinating to watch.

The Real Lesson Here

Look, we know what actually works economically. We've known for literally centuries in some cases.

Price controls destroy markets. Wealth taxes kill wealth creation. Bad taxes punish success and innovation.

And yet we keep choosing the absolute worst possible policies.

Why?

Because politicians don't want you wealthy and independent. They want you dependent on them.

These policies sound good to voters. Sound fair. Sounds like they help the little guy.

But they don't help anyone.

They make everyone poorer except the politically connected insiders.

They destroy the wealth creators while pretending to help the poor.

Wake Up Before It's Too Late

The knowledge exists. The data is crystal clear. The historical evidence is overwhelming.

We're choosing to ignore all of it.

And you'll pay the price for that ignorance.

Not the politicians who voted for these terrible policies. They'll be just fine.

You'll pay with your savings, your opportunities, and your financial future.

Don't say nobody warned you.

Kiyosaki Uncensored 

P.S. My former colleague Jim Rickards and the Paradigm Press Team just shared the following urgent message…

If you have any money in the markets…

Public Law 63-43 (see it below) could have a huge impact on your wealth in 2026.

You see, three simple words buried deep in Section 10 of this 112-year old little-known law…

Grants President Trump the power to make this critical move on May 15th.

President Trump himself has confirmed the plan is already in motion.

As a former advisor to the CIA, the Pentagon and the White House…

I know for a fact there are meetings taking place right now behind closed doors in the White House.

His entire administration is preparing for it.

I recommend you prepare as well.

Click here to see the details because I believe this single move will help unleash a historical supercycle of wealth…

That “gift” will make a lot of patriots rich on America’s 250th anniversary.