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-This is the Constitution
and the Declaration of Independence.

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Together, they are this thin.

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This tiny booklet created
the conditions America needed

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to give 300 million people
freedom and prosperity.

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However, our political
leaders always believe

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they can improve on this so they
keep adding pages of rules.

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These are some of their rules.

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They are just the rules a toy maker
has to understand and obey.

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Thousands of pages!

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Now I assume these
rules are well-intended

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but many are a useless
waste of time and money,

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and many give companies
an advantage over others.

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These rules foster crony capitalism.

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Crony capitalism thrives because
we’ve gotten away from this.

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We’ve given politicians
and bureaucrats unbelievable power

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to write and rewrite
the rules of the game.

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So, not surprised that they help
their friends along the way.

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Both parties do it.

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[demonstrators cheering]

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When George W. Bush was President

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the steel industry demanded
protection from foreign competition.

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Without it, they said,
Americans will suffer.

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The door would be open to run
this industry out of business.

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Foreigners had the nerve to want
to sell us steel that was cheap.

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Big steel lobbied Washington
and the President responded.

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-We look forward to working with you,

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to do what’s right
for the steel workers

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and the steel industry of America.

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-What’s right for the steel industry
turned out to be a 30% tariff.

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As a result, businesses
that were less well connected,

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like this casings manufacturer

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that had to pay more
for steel, suffered.

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-We estimated that in
the first year of the tariffs,

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it cost us over a million dollars
off our bottom line.

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-The politically connected
tire industry also got protection.

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Imports were hit with a 35% tax.

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Yet, politicians had the nerve
to say it was about,

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-...maintaining an open
and free trading system.

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-But what about you consumers

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who want to pay less
for steel and tires?

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Who cares? You don’t have a lobby.