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autumsky.bsky.social
@autumsky.bsky.social

But as he had appeared on CEO diary, maybe tax isn’t practical, although tempting. I think if we can stop “Asset Class” from amplifying the price of anything from home to healthcare, it won’t be directly targeting the individual but corporate behavior and that may be practical?

Josh
@hobbesjosh.bsky.social

A simpler tax code would actually get more money out of the rich too. Because its the rich that takes advantage of a complicated tax code. Between a complicated tax code and fewer auditors to decipher more complicated returns, it provides a boon to the rich.

Your Friendly Neighborhood Bitcoiner
@bitbybitbybit.bsky.social

We need to more pragmatic about taxing. More than taxing billionaires (which is a necessary but insufficient solution), we ought to: • tax land (esp real estate property that extracts & fosters rent-seeking) • tax externalities (noise, light, & actual pollution & waste) Call it Neo-Georgism.

whatnow24.bsky.social
@whatnow24.bsky.social

He is absolutely correct. In my lifetime, the message has always been taxes bad, taxes bad. In reality, it has simply been that the donor class have skewed the tax code to pay minimal while the earners hold the bag paying for what they’ve been able to avoid through legislated loopholes.

𝕄𝕚𝕟𝕠𝕤 🕳🐑🐑🐑
@minosfelix.bsky.social

Other than the generational "Buy, Borrow, Die" transfer mechanism, what other "loopholes" are there which are not also available to, and used by, the middle-class? Tax brackets are progressive (both earned income and capital gains/NIIT), the middle-class also uses borrowing (HELOCs), etc.

Jeffrey Brown
@texasgeologist.bsky.social

Columnist Scott Burns has pointed out that Congress has succeeded in making the Social Security shortfall a minor problem, in the context of the overall total debt, which he projects will increase by about $23 Trillion over the next 10 years, absent any policy changes:

Jeffrey Brown
@texasgeologist.bsky.social

Trump accounts are active in July, which require that the accounts be invested in US stock market index funds. Ever wonder what would have happened if the federal government had invested the Social Security Trust Fund in a S&P 500 index fund starting in 1985, instead of lending the money to itself?