Regulations and taxation are essential. There used to be a 'free market' it was called 'feudalism'. Not quite, but almost. If you believe in 'Adam Smith' the

Regulations and taxation are essential. There used to be a 'free market' it was called 'feudalism'. Not quite, but almost. If you believe in 'Adam Smith' then you understand under a totally free system, one person would end up with all the wealth. Adam Smith was not a libertarian, or a 'laissez faire' kind of dude. He was an Ethicist and heavy duty Christian and to him capitalism was a moral issue. Unlike the 'Chicago School' and Libertarian types who really state that corps exist for the shareholders, that's it, end of story. As noted above, Smith invented progressive taxation. Get this - do you know what Smith said the #1 quality of a CEO is? Get this: 'Benevolence' Not something you'd hear too often in America. Onerous regulation is obviously a problem, and wasted taxation inefficient government is also a problem. But there's no doubt they have to exist. There's a 99.9% chance you'd be a serf were there to be a truly free and open, 'laissez faire' market. You wouldn't even have a chance at going to a good Uni. You know Trump's son-in-law, Kushner? He only got into Harvard after his parents gave $2.5M to the school. Maybe 1/3 Harvard students buy they way in. In a totally capitalist system, 100% of top spots would be 'bought' - industrialists want to ensure their legacy, and that their kids get into the top schools, and that would guarantee the longevity of their Empire. Anyhow, that taxes can be too high and spent inefficiently does not mean they should not exit.