Taxing income prevents creative entrepreneurs from rapidly stockpiling enough wealth to change the world.
If we taxed wealth instead of income, people who inherited or no longer contributed to building new things would see their stockpiles rapidly eaten away. This would prevent rich kids from staying rich unless they actually built new and better things for society.
To make sure people don’t cheat on wealth taxes, people should be required to sell their assets at the taxable value they list… This would prevent purposeful undervaluation.
Other important ideas:
-Get rid of the patent system. This crushes entrepreneurship.
-Remove tax loopholes like those in real estate
-Make voting and tax records public for everyone.
To avoid the voting fraud where millions of fake or dead voters vote, all voting records should be public.
Sunlight is the best disinfectant.
To avoid tax fraud where people earning hundreds of millions of dollars pay zero taxes, all tax records should be public.
Sunlight is the best disinfectant.
This will allow our smart people to improve our system, rather than force them to try to game it.
Fred Trump built a massive real estate empire, then transferred it to his children including Donald through his life. Donald lost vast portions of it on bad investments, but his dad kept him afloat. Details from thousands of pages of Trump documents here. https://www.nytimes.com/interactive/2018/10/02/us/politics/donald-trump-tax-schemes-fred-trump.html?action=click&module=Top%20Stories&pgtype=Homepage. Moral- Donald Trump has lied for years about being a good businessman and participated in massive tax evasion schemes.
I recently was cold emailed by a search fund to buy my business.
What is a search fund? Basically, a person who wants to be an “entrepreneur” raises a lot of money in a fund so that they can buy and then run a company.
The intent is that the buyer would do something to improve the value of the company then resell it later.
The problem with this is that anyone going into an existing business with little to no prior knowledge has virtually no chance of adding value. They will almost certainly destroy value by virtue of just lack of understanding.
In the case of my cold email, a couple of finance guys with no tech or programming experience are trying to buy a web design firm. What a waste. Whatever company they buy will quickly lose its competitive edge. This an extremely competitive business and a leader without industry knowledge or experience will bleed out clients quickly.
I believe that there is a purposeful propaganda war being directed against Google and Facebook.
I am not sure who is behind it, but the Russians and Chinese both would have strong interest in doing so.
Right now, there is a huge controversy over the confirmation of Brett Kavanaugh as a Supreme Court Justice. This is a enormously important political issues as it will shape Supreme Court decisions for decades.
I am a social liberal and a fiscal conservative… which in today’s political environment means I am very opposed to both parties in some ways and very supportive of certain policies. The Republicans have been limiting individual freedoms greatly and have started to turn into a nationalist / racist party instead of standing for smaller government like they used to. The Democrats are spending money foolishly and focusing on silly issues. This is a bad time to live as discourse has become hot and angry instead of rational.
I do think that the Democrats have a very strong incentive to dig up accusers against Kavanaugh, even if they have no evidence to support things. I think many people would be happy to make false accusations in order to avoid having a Supreme Court Justice from the other party.
I am afraid of the world we live in now where you are presumed guilty until proven innocent instead of the other way around. Sexual predators should face very stiff penalties, but the mere accusation of sexual misbehavior has now become enough to destroy people’s lives.
A concern I have is that Kavanaugh appears to have lied about being a virgin till well after college based on his own comments in his yearbooks. If he lied about that, would he lie about other things?
Another concern is that all of his writing has not been released from previous work. Sunlight is the best disinfectant.
I firmly believe in free market capitalism,but I also believe in accountability for companies.
Companies that commit certain types of crimes should receive the death penalty and be broken up and sold piecemeal to ethical companies. Shareholders should lose everything. Executives and managers should get hard prison time.
For example, a company Theranos should be shut down, all executives and board members sent to prison, and shareholders take a total bath on their investment.
I especially think board members should have their entire personal net worth at stake and not be able to purchase lawsuit insurance. Basically, if you are on a board of directors you should work your ass off to protect the company and hold executives accountable.