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American Equity

blog.samaltman.com

51–60 of 552 posts

Re: American Equity

#51
>I think that every adult US citizen should get an annual share of the US GDP.

This is an odd way to phrase it. GDP is a measurement of consumption (which is taxed), investment (which isn't taxed until it gains), government expenditure (which is often the action of sharing wealth itself), and net exports (which actually does make sense to share). I think that you want to make more of a direct correlation between a country's wealth and its citizens' wealth, but this is not a great framework for it. I don't know what is, but you should talk with some economists to dive further into this thought.

In general, I'd criticize this for being too vague. The topic you're trying to conquer could maybe be genuinely addressed by Richard Rorty doing a very well funded 5 year research and philosophical study. An investment manager just writing a few words about what is going on in his gut doesn't really do it for me, especially when so much is hand wavy and imprecise, and what is specified (some benchmark to GDP) doesn't really make sense.

Re: American Equity

#52
post #47

> if we don’t take a radical step toward a fair, inclusive system, we will not be the leading country in the world for much longer. This would harm all Americans more than most realize. It would help most of the other 96% of humans, though. Nationalism is fucking disgusting.

Lets just kill ourselves then, why wait til tomorrow to Make The World A Better Place

Re: American Equity

#53
Something very similar was tried in Russia after the fall of communism, as voucher privatization. The vouchers were immediately bought up at a discount and concentrated wealth in the hands of a few oligarchs.

A similar dynamic led to massive pyramid schemes in Albania, which badly eroded public trust in government.

A common thread in Altman's proposals for a better world are their ahistorical presentation, as if no one had ever tried experiments like universal basic income, voucher privatization, planned cities, or the other pet ideas he has backed. If YC wants to experiment with social transformation, it's behind time they hired some adults who know sociology and history, and can put some guard rails around these ideas before they're backed with serious money.

Re: American Equity

#55
post #14
post #10

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.

I'm not sure to whom or what you are responding.

The book I linked to is a couple hundred pages long, explores moral and practical issues, and has almost 20 pages of notes and citations. Far from attempting to "kill the discussion", which is in fact what your blithe comment is attempting, it explores the topic of inequality in a uniquely deep way.

Re: American Equity

#56

Here's my feedback: 100M people died of socialism in the 20th century. Can we just STOP with this madness please?

On the other hand, China's implementation of socialism has taken it from a third world country to the most powerful nation in the world in a little under 40 years.

Re: American Equity

#57

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…

The problem literally is that many people don't have an adequate share of the GDP. The footnote proposes to tax capital the same as labor. An interesting thing about Bill Gates is what a tiny sliver of GDP he managed to capture over almost 40 years. Something like $0.1 trillion out of several hundred trillion dollars.

A single person capturing a few ten-thousandths of a percent in a country of over three hundred million people seems like a pretty large sliver to me, relatively speaking.

Re: American Equity

#59

Here's my feedback: 100M people died of socialism in the 20th century. Can we just STOP with this madness please?

This is very different from socialism you're referring to. It's just an increase in the amount of money that goes to welfare. A minor parametric change branded as something new.
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