You can't make the poor wealthy by beating up on billionaires. California is about to learn this the hard way.

Parental pause point questions:

1. What percentage of the income tax do the top 1 percent of wage earners pay in taxes? (2:29)

2. Imagine you have saved up significantly more money than your siblings. How would you feel if your siblings decided that you have to pay for their ice cream because you can afford it? (6:50)

3. Which of The Great 8 Questions would you apply here? (9:56)

4. As a company founder sells off shares in his company, what happens to the value of the company? (13:14)

5. If California is responsible for people becoming billionaires, why are there so few billionaires in California? (16:37)

6. How do you think billionaires will react to this tax? (20:17)

7. Is there a deeper problem with wealth taxes beyond the fact that they don’t work in practice? (23:44)