Hoover Institution economist Joshua Rauh examines America’s mounting federal debt and the political obstacles to controlling government spending. Rauh discusses why higher taxes and faster economic growth alone cannot close the budget gap, warns that rising interest costs could lead to an inflationary crisis, and argues for slowing the growth of entitlement spending. The conversation also covers President Trump’s tariff policies, California’s proposed billionaire tax and why it has the potential to drive taxpayers out of the state, and the lessons offered by states such as Texas and Florida.
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He opposes the Billionaire Tax Act in California, but calls today for a "national billionaires tax," reiterating false claims that the wealthy pay low tax rates.
June 26, 2026
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The SEIU's 2 percent compromise bid on the wealth tax is not even a compromise. It's a statement that the proponents remain highly eager for a wealth tax that could be expanded later.
June 19, 2026
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California’s budget is in trouble, in no small part due to Medicaid. But the recent federal budget legislation isn't to blame.
May 28, 2026
