Part 12/17:
However, he recognizes that America’s success isn’t just due to deregulation but also requires a well-designed tax system that redistributes wealth. Scott argues that high marginal taxes on the wealthy, combined with high corporate taxes, could help fund social programs like universal child care and retraining initiatives—elements that support a resilient middle class essential for long-term economic stability.
He criticizes the unbalanced distribution of wealth in the U.S., where prosperity is concentrated among billionaires, leading to societal issues and economic inequality. Scott advocates for a balanced approach: fostering a pro-business environment while implementing fair taxes and social safety nets to ensure broad-based growth.