How do high tax rates and government regulations affect businesses and the housing market?

According to Ben Shapiro, high tax rates and government regulations often harm the very businesses that create employment opportunities. He explains that confiscatory tax rates can kill businesses people need to work for, effectively undermining economic growth and job creation. Shapiro uses rent control as a specific example, arguing that government intervention in real estate markets tends to increase housing prices rather than reduce them. When policymakers attempt to punish wealthy developers by controlling rents, the unintended consequence is reduced housing production and supply, which ultimately leads to higher prices and less construction overall.