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Wealthy AI workers send San Francisco house prices soaring

bbc.com

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Re: Wealthy AI workers send San Francisco house prices soaring

#11

Post by JumpCrisscross »

m463 wrote: post #6

Obviously the solution is an ai-funded-house-wealth-tax. I'm in favor of a politician tax, and an attractive people tax (I'm not worried, I will use my tax receipt for virtue signalling)

> the solution is an ai-funded-house-wealth-tax

The solution is a progressive wealth tax. Start it at 2% (inflation target) above $100mm and raise it a point at every order of magnitude. 3% at $1bn, 4% at $100bn, 5% at $100bn, 6% at $1tn, et cetera.

There isn't a great reason why OpenAI should be hit with a tax while Andreessen Horowitz and Microsoft are not.

Re: Wealthy AI workers send San Francisco house prices soaring

#12

Post by JumpCrisscross »

skybrian wrote: post #8
satvikpendem wrote: post #7

Anything except building more housing, it seems. We'll see how the recently passed housing bill goes however.

They're working on it: Plans for nearly 4,000 homes over Safeways divide Bay Area residents https://skybrian-links.exe.xyz/post/871

"These sentiments were palpable"

I'm confused what to do with a source that shows this as its first words.

Re: Wealthy AI workers send San Francisco house prices soaring

#14

Post by throw101010 »

rayiner wrote: post #10
smitty1e wrote: post #9

Earlier quoted context omitted.

Why hasn't AI proposed the ultimate "fair" taxation scheme?

We already have expert consensus on what’s the best taxes, people just don’t like the answer: https://www.npr.org/sections/money/2012/07/19/157047211/six-... (“Three. Eliminate the corporate income tax. Completely. If companies reinvest the money into their businesses, that's good. Don't tax companies in an effort to tax rich people. Four. Eliminate all income and payroll taxes. All of them. For everyone. Taxes disco…

Why would you want to "discourage consumption" by taxing it? Following the logic in your message.

I know you are just quoting this transcript/article... but you likely have an idea of how this would work since you classify this as the best solution.

Especially interested on how you would progressively tax consumption... How do you apply brackets to the day-to-day purchases? The general answer is to demand people to report their income/savings and the difference is taxed... and rich people will just game this as easily as the income taxes (if not more easily).

Re: Wealthy AI workers send San Francisco house prices soaring

#15

Post by skybrian »

JumpCrisscross wrote: post #12
skybrian wrote: post #8

Earlier quoted context omitted.

They're working on it: Plans for nearly 4,000 homes over Safeways divide Bay Area residents https://skybrian-links.exe.xyz/post/871

"These sentiments were palpable" I'm confused what to do with a source that shows this as its first words.

It's abrupt because I didn't copy the entire article, just quoted a few paragraphs. I changed it to an ellipsis.

Re: Wealthy AI workers send San Francisco house prices soaring

#16

Post by rayiner »

throw101010 wrote: post #14
rayiner wrote: post #10

Earlier quoted context omitted.

We already have expert consensus on what’s the best taxes, people just don’t like the answer: https://www.npr.org/sections/money/2012/07/19/157047211/six-... (“Three. Eliminate the corporate income tax. Completely. If companies reinvest the money into their businesses, that's good. Don't tax companies in an effort to tax rich people. Four. Eliminate all income and payroll taxes. All of them. For everyone. Taxes disco…

Why would you want to "discourage consumption" by taxing it? Following the logic in your message. I know you are just quoting this transcript/article... but you likely have an idea of how this would work since you classify this as the best solution. Especially interested on how you would progressively tax consumption... How do you apply brackets to the day-to-day purchases? The general answer is to demand people to r…

I’m not classifying it as the best solution. I’m quoting an NPR article describing the consensus view of economics experts.

But as I understand it, the reason is that consumption taxes have the least distortion in terms of deviating from the efficient behavior in the no-tax scenario: https://www.weforum.org/stories/2019/09/using-tax-to-tackle-...

Re: Wealthy AI workers send San Francisco house prices soaring

#17

Post by dataflow »

rayiner wrote: post #10
smitty1e wrote: post #9

Earlier quoted context omitted.

Why hasn't AI proposed the ultimate "fair" taxation scheme?

We already have expert consensus on what’s the best taxes, people just don’t like the answer: https://www.npr.org/sections/money/2012/07/19/157047211/six-... (“Three. Eliminate the corporate income tax. Completely. If companies reinvest the money into their businesses, that's good. Don't tax companies in an effort to tax rich people. Four. Eliminate all income and payroll taxes. All of them. For everyone. Taxes disco…

> Taxes discourage whatever you're taxing, but we like income, so why tax it?

How about to discourage the development of extreme income and/or wealth inequality? Or do you want to encourage them?

Re: Wealthy AI workers send San Francisco house prices soaring

#18

Post by jandhdhshhh »

satvikpendem wrote: post #7

Anything except building more housing, it seems. We'll see how the recently passed housing bill goes however.

I’ve been watching this for decades now. I was hopeful in my 20s that it was just a matter of time before supply would increase. But I’ve learned the hard way, The bay area voters and political apparatus is determined to keep housing as scarce as possible

Re: Wealthy AI workers send San Francisco house prices soaring

#19

Post by ekelsen »

rayiner wrote: post #10
smitty1e wrote: post #9

Earlier quoted context omitted.

Why hasn't AI proposed the ultimate "fair" taxation scheme?

We already have expert consensus on what’s the best taxes, people just don’t like the answer: https://www.npr.org/sections/money/2012/07/19/157047211/six-... (“Three. Eliminate the corporate income tax. Completely. If companies reinvest the money into their businesses, that's good. Don't tax companies in an effort to tax rich people. Four. Eliminate all income and payroll taxes. All of them. For everyone. Taxes disco…

At least for me, even income taxes as high as 53% have not discouraged me from trying to make more money. They have made me consider moving.

At some level, certainly at 90%+, the most rational thing to do to make more money is to spend time lowering your tax bill, which is not a particularly beneficial way (to society) of making more money.

But I can't image anyone at an income tax level of say 10% is being actively discouraged from making more money? Like you need it to survive, so choosing to make _no_ money because of taxes seems like a very bad strategy.

Re: Wealthy AI workers send San Francisco house prices soaring

#20

Post by [deleted] »

dataflow wrote: post #17
rayiner wrote: post #10

Earlier quoted context omitted.

We already have expert consensus on what’s the best taxes, people just don’t like the answer: https://www.npr.org/sections/money/2012/07/19/157047211/six-... (“Three. Eliminate the corporate income tax. Completely. If companies reinvest the money into their businesses, that's good. Don't tax companies in an effort to tax rich people. Four. Eliminate all income and payroll taxes. All of them. For everyone. Taxes disco…

> Taxes discourage whatever you're taxing, but we like income, so why tax it? How about to discourage the development of extreme income and/or wealth inequality? Or do you want to encourage them?

[deleted]
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