Uploaded June 2026 | Updated September 2026, 3 weeks ago
đ bit.ly/3HLA8ql đ CLICK HERE Ready to change your financial future? Join Tom Wheelwright, Robert Kiyosaki's CPA, and apply to the WealthAbility Accelerator today!
The clarion call across the country right now is to "tax the rich." From Californiaâs proposed wealth tax to the millionaire taxes in Washington and Massachusetts, proponents argue itâs about fairness. But what are the actual economic consequences when you punish productivity?
Join Tom Wheelwright as he sits down with economic legend Dr. Art Laffer to dissect why progressive wealth taxes trigger catastrophic economic collapses, how history proves that lowering tax rates actually increases government revenue, and why redistribution always shrinks the total economic pie.
Dr. Art Laffer is the father of supply-side economics and one of the most influential economists in modern history. He served as a member of President Reaganâs Economic Policy Advisory Board for both terms, anchoring the historic tax cuts of the 1980s. He has also advised British Prime Minister Margaret Thatcher, U.S. Secretaries of the Treasury, and various state governors across the political spectrum. A brilliant academic and mathematician, Dr. Laffer holds a PhD from Stanford University and has taught at the University of Chicago.
In this episode, discover why California's proposed wealth tax faces massive state constitutional hurdles, the stark data contrasting high-tax states with the nine states that have no income tax, and a breakdown of "The Transfer Theorem"âthe mathematical proof of why redistribution reduces overall production.
Order Tomâs book, âThe Win-Win Wealth Strategy: 7 Investments the Government Will Pay You to Makeâ at: winwinwealthstrategy.com
00:00 - Intro.
02:40 - Understanding The Current Wealth Tax Movement & Motivation.
06:05 - Dissecting How The California Wealth Tax is Unconstitutional and Its Consequences.
16:50 - The Millionaire Tax in Washington and Massachusetts.
20:40 - Who Truly Loses When Taxes Increase for the Wealthy.
29:11 - Proving The Limit Theorem.
33:17 - Redistribution from Trumpâs Bonus Depreciation Incentive.
39:41 - Closing Statements.
Looking for More on Dr. Art Laffer?
Website: laffercenter.org/about
Books: âTaxes have Consequencesâ | âPrivate Short-Term Capital Flowsâ
LinkedIn: linkedin.com/company/the-laffer-center
Twitter/X: @LafferCenter
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đ ABOUT TOM: wealthability.com/tom
đ¸ WEALTHABILITY LIVE: wealthability.com/wealthability-live
đ EDUCATIONAL PRODUCTS: wealthability.com
đ TOMS BOOK "TAX FREE WEALTH": taxfreewealthbook.com
đ° SIGN UP TO TOMâS WEEKLY REPORT: wealthability.com/getreport
đď¸ FOLLOW THE PODCAST ON SPOTIFY: bit.ly/4bgs37w
đď¸ FOLLOW THE PODCAST ON ITUNES: bit.ly/3Qwh3tl
đ° WORK WITH A TFW ADVISOR: tfwadvisors.us/contact-us
đ BECOME A TFW ADVISOR: tfwadvisors.us/franchise
đş JOIN THE CHANNEL: youtube.com/@TomWheelwrightCPA
FOLLOW US ON INSTAGRAM đ @Tom_Wheelwright
ABOUT US:
Tom Wheelwright is the founder and CEO of WealthAbility and TFW Advisors, a leading authority on tax strategy and wealth building. He is the best-selling author of Tax-Free Wealth and a trusted advisor to Robert Kiyosaki. As a world class CPA, Tom is dedicated to empowering entrepreneurs and investors to reduce their tax burden and achieve financial freedom. He currently resides in Phoenix, Arizona.
DISCLAIMER:
WealthAbilityÂŽ does not provide tax, legal or accounting advice. The materials provided have been prepared for informational purposes only, and are not intended to provide tax, legal or accounting advice. The materials may or may not reflect the most current legislative or regulatory requirements or the requirements of specific industries or of states. These materials are not tax advice and are not intended or written to be used, and cannot be used, for purposes of avoiding tax penalties that may be imposed on any taxpayer. Readers should consult their own tax, legal and accounting advisors before applying the laws to their particular situations or engaging in any transaction.
-----
Disclaimer: The information provided in this video is for educational and informational purposes only. It should not be considered as financial advice or a recommendation to buy or sell any financial instrument or engage in any financial activity.
The content presented here is based on the speaker's personal opinions and research, which may not always be accurate or up-to-date. Financial markets and investments carry inherent risks, and individuals should conduct their own research and seek professional advice before making any financial decisions.
đ bit.ly/3HLA8ql đ CLICK HERE Ready to change your financial future? Join Tom Wheelwright, Robert Kiyosaki's CPA, and apply to the WealthAbility Accelerator today!
The clarion call across the country right now is to "tax the rich." From Californiaâs proposed wealth tax to the millionaire taxes in Washington and Massachusetts, proponents argue itâs about fairness. But what are the actual economic consequences when you punish productivity?
Join Tom Wheelwright as he sits down with economic legend Dr. Art Laffer to dissect why progressive wealth taxes trigger catastrophic economic collapses, how history proves that lowering tax rates actually increases government revenue, and why redistribution always shrinks the total economic pie.
Dr. Art Laffer is the father of supply-side economics and one of the most influential economists in modern history. He served as a member of President Reaganâs Economic Policy Advisory Board for both terms, anchoring the historic tax cuts of the 1980s. He has also advised British Prime Minister Margaret Thatcher, U.S. Secretaries of the Treasury, and various state governors across the political spectrum. A brilliant academic and mathematician, Dr. Laffer holds a PhD from Stanford University and has taught at the University of Chicago.
In this episode, discover why California's proposed wealth tax faces massive state constitutional hurdles, the stark data contrasting high-tax states with the nine states that have no income tax, and a breakdown of "The Transfer Theorem"âthe mathematical proof of why redistribution reduces overall production.
Order Tomâs book, âThe Win-Win Wealth Strategy: 7 Investments the Government Will Pay You to Makeâ at: winwinwealthstrategy.com
00:00 - Intro.
02:40 - Understanding The Current Wealth Tax Movement & Motivation.
06:05 - Dissecting How The California Wealth Tax is Unconstitutional and Its Consequences.
16:50 - The Millionaire Tax in Washington and Massachusetts.
20:40 - Who Truly Loses When Taxes Increase for the Wealthy.
29:11 - Proving The Limit Theorem.
33:17 - Redistribution from Trumpâs Bonus Depreciation Incentive.
39:41 - Closing Statements.
Looking for More on Dr. Art Laffer?
Website: laffercenter.org/about
Books: âTaxes have Consequencesâ | âPrivate Short-Term Capital Flowsâ
LinkedIn: linkedin.com/company/the-laffer-center
Twitter/X: @LafferCenter
-----
đ ABOUT TOM: wealthability.com/tom
đ¸ WEALTHABILITY LIVE: wealthability.com/wealthability-live
đ EDUCATIONAL PRODUCTS: wealthability.com
đ TOMS BOOK "TAX FREE WEALTH": taxfreewealthbook.com
đ° SIGN UP TO TOMâS WEEKLY REPORT: wealthability.com/getreport
đď¸ FOLLOW THE PODCAST ON SPOTIFY: bit.ly/4bgs37w
đď¸ FOLLOW THE PODCAST ON ITUNES: bit.ly/3Qwh3tl
đ° WORK WITH A TFW ADVISOR: tfwadvisors.us/contact-us
đ BECOME A TFW ADVISOR: tfwadvisors.us/franchise
đş JOIN THE CHANNEL: youtube.com/@TomWheelwrightCPA
FOLLOW US ON INSTAGRAM đ @Tom_Wheelwright
ABOUT US:
Tom Wheelwright is the founder and CEO of WealthAbility and TFW Advisors, a leading authority on tax strategy and wealth building. He is the best-selling author of Tax-Free Wealth and a trusted advisor to Robert Kiyosaki. As a world class CPA, Tom is dedicated to empowering entrepreneurs and investors to reduce their tax burden and achieve financial freedom. He currently resides in Phoenix, Arizona.
DISCLAIMER:
WealthAbilityÂŽ does not provide tax, legal or accounting advice. The materials provided have been prepared for informational purposes only, and are not intended to provide tax, legal or accounting advice. The materials may or may not reflect the most current legislative or regulatory requirements or the requirements of specific industries or of states. These materials are not tax advice and are not intended or written to be used, and cannot be used, for purposes of avoiding tax penalties that may be imposed on any taxpayer. Readers should consult their own tax, legal and accounting advisors before applying the laws to their particular situations or engaging in any transaction.
-----
Disclaimer: The information provided in this video is for educational and informational purposes only. It should not be considered as financial advice or a recommendation to buy or sell any financial instrument or engage in any financial activity.
The content presented here is based on the speaker's personal opinions and research, which may not always be accurate or up-to-date. Financial markets and investments carry inherent risks, and individuals should conduct their own research and seek professional advice before making any financial decisions.
