Why Should I Pay Taxes? When Fraud, Waste, and Grift Become the System

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Why should Americans keep paying taxes when billions are being siphoned off through fraud, waste, and abuse—and no one is held accountable? In this episode, Chris asks the uncomfortable but necessary question, pointing to staggering examples like billions lost to Medicaid and Medicare fraud, runaway Pentagon spending, and a political system that refuses to follow the money. From Washington’s culture of grift and lobbyist-driven spending to foreign aid and defense dollars flushed down the drain, this is a blunt look at why trust in government has collapsed. If taxes are meant to serve the public good, where exactly is the accountability—and why are taxpayers still being asked to foot the bill?

Episode Transcript

Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.

Speaker 2 (00:16):
Why why should I pay tax? Why should you pay tax?
It's a serious question. Seriously, I'm asking. And again, I
know we got left wingers out there. I want you
to send me an email, send me a message, phone call.
I don't care, and I want you to explain to
me why I should pay taxes. After continuing to see

(00:37):
stories like this, wait for it, total amount of fraud
in Minnesota. This is Medicaid Medicare over nine billion dollars.
Half half of the expenditures on Medicaid is been fraudulent.

(01:01):
Nine billion dollars. And you know it adds up after
a while for a lot of you people out there
that you know don't pay much in taxes, whatever it
may be. And as of myself to pay attention to
what's going on, and you see all of the waste,

(01:24):
fraud and abuse and nothing being done, nothing being done,
And again this is not ripping off Medicaid and Medicare
and all the fraud that that goes along with that,
and again they don't want to know. Okay, here's here's
a little bit of an insight for you. Okay, I've

(01:47):
discussed this before. Great television show The Wire one of
the best, in my opinion, of all time and one
of the reasons that the people in power in the
City of Baltimore place took place in the City of Baltimore.
They didn't want you are going after drug dealers in
the drug trade. They didn't want to have a wire

(02:09):
up because they don't know what information they were going
to collect and where it was going to go. They tried, really,
the powers that be, they tried, really they wanted to
shut their investigation down because once you start following the money,
you don't know where it's going to go. In the

(02:30):
same way, the same way that they shut Elon Musk down,
same way, the same reason why we're still sending forty
million dollars a week to the Taliban. Oh Republican. Republican
won't let that bill go through because he's got somebody
somewhere that you used to working on that that's getting
paid based upon this. Why why should I pay taxes again?

(02:58):
Only people out there are not all of it? Why
And this is something you know that I happen to.
I don't mind spending the government wants to collect texts.
If I knew, if I knew that they weren't wasting
them and it wasn't all the front, If I knew

(03:21):
the money going, I'll take medicaid. Take all that the way.
What about the money going to the Pentagon that's flushed
down the toilet. We did a podcast I don't know,
maybe a week ago talking about we can't keep up
with China. We can't give up with China. We spend
more than the next ten countries combined below us, and
we can't keep up. And we've been doing that for decades.

(03:41):
For crying out, we've been there for decades. That should
compound for.

Speaker 1 (03:45):
Crying out loud.

Speaker 2 (03:46):
Nobody's even want to mess with us at all based
upon the type of stuff we have. But what we wasted.
Defense contractors, military industrial compounds, money go into various different
districts for waste, and we would to go. Let's slide
all because these people in DC and the people that
they're attached to, and the lobbyists and the people at
the NGOs, people that don't build anything, create anything at all,

(04:11):
grift on the American people. Washington DP is a friggin
crime scene. It's a crime scene. I don't even like
going there. Wants to build his arch. I don't give
a damn. I don't want to see your arch. The
place is disgusting. I feel like I gotta take five
showers when I go there because I know everyone there

(04:32):
is on the take. Everyone there is a grifter. Why
should I pay taxes for this? Honest question? Watchdog on
Wall Street dot com