41–50 of 552 posts
Earlier quoted context omitted.
>do what nobody has the balls to do: tax wealth Just to clarify, nobody in the US is doing this, but it's not unheard of elsewhere. For example, Norway has a wealth tax of about 0.85% and there are some other examples at https://en.wikipedia.org/wiki/Wealth_tax#Current_examples .
We tax real property, which is a form of wealth taxation.
Without rules like that, then all of the safety net programs we have will still need to exist, because people could end up with a net income far below the basic income otherwise.
A better thing to do would be to campaign the SEC to remove the accredited investor regulation so that we can choose what we want to invest in, instead of forcing us all into this America bucket while the rich and connected get first pick on every opportunity. I'm tired of sitting back and seeing companies that I liked but couldn't invest in become > 500m market cap successes. If I spent 4 years at one of these compa…
A better thing to do would be to campaign the SEC to remove the accredited investor regulation so that we can choose what we want to invest in, instead of forcing us all into this America bucket while the rich and connected get first pick on every opportunity. I'm tired of sitting back and seeing companies that I liked but couldn't invest in become > 500m market cap successes. If I spent 4 years at one of these compa…
That already happened, though, didn't it? JOBS Act III?
People already have a share in the GDP. That's what it is, the total domestic product, the sum of all the little parts. The problem is not that people don't have share in it (and this goes for every country, not just for the USA), but that they have a disproportionate share in it. Bill Gates' (to name a random American citizen) has a far larger share in the GDP than most other Americans. If you want to solve that rai…
(Whether this will actually happen is a separate topic; but there's a reason why Sam Altman doesn't just propose your tax-the-rich scheme.)
Earlier quoted context omitted.
> Bill Gates' (to name a random American citizen) has a far larger share in the GDP than most other Americans. If you want to solve that raise your taxes on the rich and lift up those that are at the lowest end of the scale. That will have a lot more effect than some fiction where you get to do a bunch of make-believe bookkeeping. Or go a step further do what nobody has the balls to do: tax wealth That's what all the…
>do what nobody has the balls to do: tax wealth Just to clarify, nobody in the US is doing this, but it's not unheard of elsewhere. For example, Norway has a wealth tax of about 0.85% and there are some other examples at https://en.wikipedia.org/wiki/Wealth_tax#Current_examples .
EDIT: Can't comment ("You're posting too fast, blah blah blah"). Here are some replies to the comments bellow:
> It's encouraging people to make their money be productive instead of stashing it under a mattress.
When you have money in the bank, you're effectively lending most of it to other people. Your money is "productive", which is encouraged by the interest.
> Everything distorts markets. The question is how to distort markets into providing the best outcome.
Neutral tax (https://en.wikipedia.org/wiki/Optimal_tax) doesn't. But of course, market distortion is not the only or primary factor in policy decision-making.
It would help most of the other 96% of humans, though. Nationalism is fucking disgusting.
100M people died of socialism in the 20th century. Can we just STOP with this madness please?
Earlier quoted context omitted.
> Bill Gates' (to name a random American citizen) has a far larger share in the GDP than most other Americans. If you want to solve that raise your taxes on the rich and lift up those that are at the lowest end of the scale. That will have a lot more effect than some fiction where you get to do a bunch of make-believe bookkeeping. Or go a step further do what nobody has the balls to do: tax wealth That's what all the…
>do what nobody has the balls to do: tax wealth Just to clarify, nobody in the US is doing this, but it's not unheard of elsewhere. For example, Norway has a wealth tax of about 0.85% and there are some other examples at https://en.wikipedia.org/wiki/Wealth_tax#Current_examples .
Here is a book on the topic that has had much more thought put into it than a Sam's short blog post. Equal Is Unfair: America's Misguided Fight Against Income Inequality https://www.amazon.com/Equal-Unfair-Americas-Misguided-Inequ...
The opposite of rising inequality is not total equality. That's just an attempt to kill the discussion.