101–107 of 107 posts
Presenter: "With a million dollars, you can own a nice home." Presenter: "With two million dollars, you can own two nice homes." Presenter: "With three mil--" Audience: "Wait, who owns two nice homes, when so many people don't have any? Why is that even legal?" Presenter: "Please, no interruptions; I have a lot more counting to do."
Earlier quoted context omitted.
> The point is that you can’t catch up That's not the point at all. You cannot catch up with anyone who is ahead of you and you follow the same investment protocol. > What did Jeff Bezos’ children do that would warrant their wealth? Allow me to reframe. Why should anyone else get it? It's Bezos' money and he can distribute it as he sees fit.
> You cannot catch up with anyone who is ahead of you and you follow the same investment protocol. This is true and a major critique of capitalist growth economics; it privileges those who were born into wealth and those who were simply born earlier than others. To an extent, this is natural. An elder in a tribe of hunter gatherers will necessarily possess more knowledge than an infant, but no one would seriously sug…
BTW, the federal estate tax is 40% and the Washington estate tax is 37%. That's 77%. How much more do you want?
Earlier quoted context omitted.
I don't need to catch up or get anywhere remotely close to Bezos be financially satiated. If tens of millions of people can achieve financial independence, comfort, and safety, without the privileged upbringing, essentially just through the decision to strategically navigate life with financial independence as a goal, rather than social conformity as a goal, why does it matter if others have more? 7% annual compoundi…
> I don't need to catch up or get anywhere remotely close to Bezos be financially satiated. No one does. The issue comes when they start using that money to acquire political power. He wasn’t joking about seeing your margin as his opportunity. > Insisting otherwise is a direct attack on the fundamental right to private property that underpins western civilization. Western civilization includes a history of taxation,…
Earlier quoted context omitted.
> The point is that you can’t catch up That's not the point at all. You cannot catch up with anyone who is ahead of you and you follow the same investment protocol. > What did Jeff Bezos’ children do that would warrant their wealth? Allow me to reframe. Why should anyone else get it? It's Bezos' money and he can distribute it as he sees fit.
> You cannot catch up with anyone who is ahead of you and you follow the same investment protocol. This is true and a major critique of capitalist growth economics; it privileges those who were born into wealth and those who were simply born earlier than others. To an extent, this is natural. An elder in a tribe of hunter gatherers will necessarily possess more knowledge than an infant, but no one would seriously sug…
This is a completely unproven theory. I haven't seen any society where unscrupulous actors wouldn't exploit various exploitable aspects for their own advantage.
The so-called "equalitarian" communist society I previously lived under (pre-1990 Eastern Europe) was basically raped though and through by unscrupulous players using political power (in lieu of straight financial power) to their own advantage.
Earlier quoted context omitted.
> You cannot catch up with anyone who is ahead of you and you follow the same investment protocol. This is true and a major critique of capitalist growth economics; it privileges those who were born into wealth and those who were simply born earlier than others. To an extent, this is natural. An elder in a tribe of hunter gatherers will necessarily possess more knowledge than an infant, but no one would seriously sug…
It's a man providing for his family. It's a basic drive for men. I don't see a compelling reason why other men should decide it for him. BTW, the federal estate tax is 40% and the Washington estate tax is 37%. That's 77%. How much more do you want?
Provision is not a problem in and of itself; it’s the scale at which it is occurring. I know from your posts that capital accumulation is an issue you’ve thought a lot about, and I’m sure you’re smarter than I’ll ever be, but I feel strongly that you’d change your mind on this if you spent some time reading about late Roman, medieval, and early modern economies. I was a libertarian for many years prior to looking at the dynamics of wealth accumulation that occurred during these periods and how societies came up with new ways to navigate them. I will admit I never came up with a cohesive moral theory to justify it, which is why I stop short of endorsing any alternatives; I’m just saying that the idea that it is a moral and practical necessity for these fortunes to accumulate is a relatively new one.
> BTW, the federal estate tax is 40% and the Washington estate tax is 37%. That's 77%. How much more do you want?
That is higher than I would have expected. It is notable that the federal rate has an exemption that as of 2025 is just under 14 million dollars.
Earlier quoted context omitted.
It's a man providing for his family. It's a basic drive for men. I don't see a compelling reason why other men should decide it for him. BTW, the federal estate tax is 40% and the Washington estate tax is 37%. That's 77%. How much more do you want?
> It's a man providing for his family. Provision is not a problem in and of itself; it’s the scale at which it is occurring. I know from your posts that capital accumulation is an issue you’ve thought a lot about, and I’m sure you’re smarter than I’ll ever be, but I feel strongly that you’d change your mind on this if you spent some time reading about late Roman, medieval, and early modern economies. I was a libertar…
What fortunes enable people to do are great things. Like found rocket companies.
Keep in mind that the wealthy people under free markets created that wealth. It wasn't confiscated from others.
Earlier quoted context omitted.
I don't need to catch up or get anywhere remotely close to Bezos be financially satiated. If tens of millions of people can achieve financial independence, comfort, and safety, without the privileged upbringing, essentially just through the decision to strategically navigate life with financial independence as a goal, rather than social conformity as a goal, why does it matter if others have more? 7% annual compoundi…
> I don't need to catch up or get anywhere remotely close to Bezos be financially satiated. No one does. The issue comes when they start using that money to acquire political power. He wasn’t joking about seeing your margin as his opportunity. > Insisting otherwise is a direct attack on the fundamental right to private property that underpins western civilization. Western civilization includes a history of taxation,…
Buying elections doesn't work if the voters just don't like you.