Скачать или смотреть What Are The Economics Behind the American Dream? - Ep 2 - Land of Opportunity

In this second episode of the Land of Opportunity series, a partnership between the Institute of Economic Affairs and Land of Opportunity, Andrew Barclay speaks with Grover Norquist, founder of Americans for Tax Reform and creator of the Taxpayer Protection Pledge. The conversation examines how Norquist convinced 95% of Republican congressmen to pledge never to raise taxes, and why this cultural shift has been fundamental to America's economic success. Norquist explains how taxation acts as a barrier to growth by reducing capital per worker, discouraging investment, and punishing entrepreneurship—while Britain's approach treats tax as a patriotic contribution rather than an obstacle to prosperity.

The discussion reveals the hidden reality of corporate taxation: that businesses don't actually pay taxes—people do. Norquist breaks down how corporate taxes are ultimately paid by workers through lower wages, consumers through higher prices, and savers through diminished pension values. He contrasts this with Britain's VAT threshold that keeps 30,000 businesses deliberately small to avoid penalties, and explains how North Carolina perfected a model of gradual tax reduction by channeling surplus revenue into tax cuts rather than increased spending. The conversation covers why eight US states now have zero income tax, how this drives migration from high-tax states like California and New York to low-tax havens like Texas and Florida, and why this population movement translates directly into political power through congressional redistricting.

Barclay and Norquist explore the fundamental philosophical difference between American and British approaches to wealth creation. While Britain sees taxation as serving your country, America views entrepreneurship and job creation as the higher service. Norquist argues that governments don't invest—they spend and destroy capital—whereas individuals like Elon Musk turn billions into innovation, jobs, and compounding wealth. The episode concludes with Norquist's definition of the American Dream: the freedom to pursue your aspirations without government punishment through excessive taxation, and the ability to earn success rather than win it through lottery. For Britain to reclaim its entrepreneurial spirit, both men argue, requires not just policy changes but a cultural transformation that celebrates wealth creation and treats every individual as the allocator of their own capital.

The Institute of Economic Affairs is a registered educational charity. It does not endorse or give support for any political party in the UK or elsewhere. Our mission is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems.

The views represented here are those of the speakers alone, not those of the Institute, its Managing Trustees, Academic Advisory Council members or senior staff.