00:00The piece is that we have a big budget gap, and so whether you're the federal government or whether you're
00:06a city, I mean, I was going to ask you about what you thought of the pied-a-terra tax
00:10in New York and what you thought of what happened with this Ken Griffin video that the mayor made.
00:18You have a place in the city.
00:19Yeah, there's two different, I think there are two different things about that video.
00:24On the one hand, it's perfectly fine to have a policy debate about whether you want to have a pied
00:31-a-terra tax.
00:32The second piece, which is not so good, is to go stand in front of Ken Griffin's house and act
00:38like he's some kind of villain.
00:40Ken Griffin isn't a villain. He hasn't hurt anybody. He's not hurting New York. In fact, quite the opposite.
00:44And so that piece of it isn't right, and there was no reason to do that.
00:50A pied-a-terra tax is a, you know, there's a veryâtaxes on out-of-towners are very popular taxes.
00:58That's why there are hotel taxes, and, you know, hotels always have very high tax rates because why not tax
01:04the tourists?
01:05And there are limits. If you raise the hotel taxes too much, tourists stop coming, right?
01:10So you have to be judicious. But I think that the pied-a-terra tax is a fine thing for
01:15New York to do, and, you know, they have to figure out howâ
01:19But it's a policy debate.
01:21Right.
01:21Policy debates don't have to be finger-pointing.
01:25This is the piece thatâ
01:27So you're not going to sell your place in New York?
01:29Unfortunately, it's aâit'sâit is an effective political technique. It's as old as the hills.
01:36So when you don't know how to solve a problem, create a villain, blame them.
01:42But it won't solve the problem.
01:44The only thing that will solve the problem is skill.
01:46Right.
01:46And so really it's a skills issue.
01:48You want to say that any corporate CFO worth their salt, the Amazon CFO, could find 3% in the
01:54federal budget on a Tuesday afternoon.
01:57This isâthere isâthere is so much waste in government spending.
02:01Right.
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