Why 2%? A couple reasons, let’s start with the more mathematical one:

2% is the rate that would effectively address the regressive features of the current tax system. On average, billionaires earn a 6% return on their wealth each year. A 2% tax on their wealth would be similar to a tax of 33% (two divided by six) on their income, typically what the rich (but not the super-rich) already pay.

Thus the 2% wealth tax would simply close the gap between the principle of tax equality and the current tax laws. If you make it less than 2% you continue sending the message that it is acceptable for billionaires to contribute less to public goods and services than the rest of the population.

The other reason is that 2% is a moderate starting point to make it politically more tenable. We have to adopt the concept of course correcting as we go, embracing the idea that we won’t get to the goal in a straight line but we have to start running towards it. We may not pick the fastest route but we have to start moving first. And this 2% has to be in our minds the floor, not the ceiling rate.

And as a clarification this is 2% on wealth, not income. 25% wealth tax would be DOA since as I said above their wealth increased on average by 6%. And 2% wealth tax comes out to be proportional to a 33% income tax which is in line with your thinking. So it all works out!

We need a wealth tax. 2% minimum tax on net wealth $100 million and above. If they pay income tax equal to the 2% minimum wealth tax then they don’t pay the wealth tax.

They can pay the wealth tax either by selling stock or transferring stock to a new sovereign fund. But they have to pay the tax, no exceptions.

Right now everything’s against you if you live off your wages. And everything’s great if you live off your investments. We’re taxing people’s labor too much, and wealth too little.

What’s the biggest blunder you remember?

This news is old referring to Asia’s Monday opening, which is in a sense just following the price action of the US stock market from Friday which was red.

Today the US stock market was green, and the Korean stock market is up 3.6% right now.

News articles this old should not be posted imo.

When will we break from this cycle of opting for shitty solutions and practices?

I recently interviewed and there’s a quiet resignation of “well, this is how it is everywhere”. Why? What’s driving this? Why are the work cultures so bad, prioritizing speed and heroic efforts over systems, long term thinking?

We should have ranked choice voting

One’s a top the other’s a bottom ? 😏

I think it’s grant committees dictating the research agenda all the way down. They’re after all the ones with the money.

It’s not young vs old, it’s capital-owning class vs everyone else. AI is trying to solve a trillion dollar problem: paying wages. If you live off wages you hate ai because it endangers your livelihood. If you live off your capital you love ai because you get more of the pie.

Very cool! Gotta keep them healthy to keep them working to compensate for the impending demographic upheaval

In California the property taxes are such that it punishes people that didn’t buy a house 30 years ago. The apartment I rent pays property taxes on a valuation of ~$250k. This property just went for sale at $1.2 million. Whoever buys it now will pay property taxes on a $1.2 million valuation, while right now due to how the law is structured, the current owner pays taxes on $250k.

It’s just a big fuck you by the system. The tax law was modified because they saw that if they kept increasing the tax proportionally with the market value of the home, soon a bunch people would lose their homes because wages are stagnant and home prices are rocketing. So they passed this cap that helps current homeowners.

I don’t know if there is a reasonable tax under these conditions where home speculation and investment-mindset inflates home prices while wages are stagnant and inflation is a bustling.

No possible version of half-life 3 will satisfy the hype that has festered over decades. It’s best not to make half life 3 ever.

Do wealth tax instead!!!

Inequality is the cause of poor living standards. We need higher taxes on inheritance, wealth. And weaker taxes on workers.

This is from 1894, nothing has changed, the systems are still in place and arguably have grown to cover a wider spread of the socioeconomic classes.

It blows my mind, for all the advances in technology, human nature hasn’t changed and we’re still exploiting our fellow people. It’s just one “fuck you” after another

To represent the American empire being vulnerable to drones

The problem with the statement(which I have no idea if it’s true or someone just made this for rage bait) is that it’s making a ranked comparison saying streaming sucks more than regular jobs, so it antagonizes the working class as it jumps into a misery competition.

It’s divisive, when instead we should be uniting under the reality that standards of living are shit due to wealth inequality. The statement in the image instead just divides us more.

People are struggling, and hearing someone say “I have it worse than you” is not helping. We have to be demanding our governments and political parties for solutions that address wealth inequality which is causing lower living standards and causing the general discontent.

In the words of Trump to a soldier’s widow: “he knew what he signed up for”