One of the left’s favorite talking points is that extreme wealth concentration among billionaires is a major contributing factor to the financial struggles of everyday Americans. According to the logic of Bernie Sanders, Elizabeth Warren, and Alexandria Ocasio-Cortez, among other progressives, eliminate billionaires and you solve America’s economic problems.
But Mark Levin debunks this argument with ease: “The billionaires aren’t our problem. They’re irrelevant in terms of whether you succeed or not. Government’s your problem because they take from you, they regulate you, they obstruct you.”
Billionaires, he explains, via investments and spending, actually pump their money back into the economy, which means “more capital, more research and development.” Then the money they save in banks just gives banks “more money to lend to … you and me, Mr. and Mrs. America,” says Levin.
But the government with their excessive spending and never-ending list of regulations and taxes bar the American people from financial success.
“Try and open a restaurant … maybe a doughnut-and-coffee place in your community. Watch all the red tape you have to go through,” says Levin. “That’s not capitalism blocking you. That’s socialism. That’s government. That’s politicians and bureaucrats.”
He gives another example of someone trying to increase his property value by adding a room to his house. Most will never see it happen because regulations will either forbid it or make it financially untenable for the homeowner.
Right now, we’re living in the aftermath of the Biden regime, Levin explains. “They spent like drunken Marxists, drove up the inflation rate. They were trying to manage the business world and individuals during the pandemic and did a horrendous job because so much of it was phony science and was politics.”
That’s why today, businesses like MacDonald’s are reporting massive declines in customer traffic for 2025. Robert Reich, secretary of labor under Bill Clinton, recently put out a video blaming it on Trump’s rigged economy, pointing to the contrast between booming stock market performance and the financial struggles of everyday Americans as evidence.
But Levin punctures his argument. “Any of you have pensions that aren’t Social Security-related or government-related? … Well, if the stock market collapses, so does your pension … your IRA, your 401(k).” Further the stock market “reflects how well a business is doing. If a business is doing poorly, it’s going to fire people, and it’s going to have an effect on our economy.”
The government is the problem, he reiterates. “Tell me, when is the last time the government had a net reduction in spending?” he asks.
The national debt is sitting at $38 trillion, and that doesn’t even account for our “off books debt.”
“Meaning they owe Social Security recipients, Medicare recipients because they’ve taken all your money,” Levin explains, noting that the actual debt is “over $300 trillion.”
“The economy creates between 17 and 18 trillion a year. We’re never going to pay that, are we? And so it’s borrow, borrow, borrow, borrow,” he sighs.
No matter how the economy is doing, the government’s mindset is always the same: “Spend more.”
“In other words, there’s no market system. There’s no check and balance. There’s no rational reason for this other than there are politicians who want to spend your taxes and then want to spend the money that’s yet been created by your children and your grandchildren,” says Levin.
He destroys Reich’s faulty argument that Trump only gives tax breaks to the rich with three points:
One: Trump eliminated federal income tax on tips and overtime pay, gave a 15% tax cut to middle-income workers, eliminated tax on Social Security benefits for seniors, and added deductions for U.S.-made car loan interest.
Two: Billionaire tax breaks that “actively screw the middle class” would be electoral suicide on the part of the GOP.
Three: The vast majority of billionaires fund the Democrat Party and progressive activist groups.
The leftist argument that billionaires are the enemy is rooted in the Marxist framework of oppressed versus oppressor, Levin explains. It’s the left’s go-to explanation for every problem the nation faces. While the economy is indeed an issue, pushing the blame on “oppressive” billionaires isn’t going to fix anything.
We’re still suffering from the horrific decisions of the Biden administration, Levin reminds us. It’s going to take time for the changes the Trump administration is implementing to be felt by the people. Further Levin urges his audience to go into the supermarket and look around at how many goods are available to us. “Capitalism is also about availability” — something media figures like Reich conveniently disregard.
“The benefits of this society are all around us … not thanks to government or taxes or redistribution of wealth,” he says.
“There have always been people who are wealthier than the vast majority of the people, and you will find that in every Marxist fascist regime on the face of the earth; you will find it in every monarchy in the Middle East.”
“The difference is this. … In our country, you can have enormous wealth, and you can lose enormous wealth. You could be born dirt poor, and you could become a millionaire if that’s your objective. In other words, there’s mobility in a free capitalist system. There is no mobility in a Marxist fascist monarchical system.”
To hear more of Levin’s commentary, watch the clip above.
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