Joel Gross's Blog

What would happen if we did away with the income tax, sales tax, estate tax, property tax, and all other taxes?

The government could simply finance itself by printing money / inflation. Let’s say the government total expenditures were 5% of GDP each year, then you would simply have 5% inflation.

This would solve all the problems we have with income inequality, worthless heirs of the wealthy hoarding riches, and of very complex and expensive IRS and CPA work.… read more “Idea: Inflation Taxation”

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Back in his office, Mr. Dealtrey remembers how disturbed he once was about the size of the deficit. “I used to care about my kids and grandkids being stuck with it,” he said, leaning back in his chair. “But nobody cares anymore.” “Maybe I don’t care anymore,” he said, momentarily surprised at his own words.

That above quotes an article in the NYTimes and embodies the attitude of Boomers to future American generations.

https://news.ycombinator.com/item?id=24858750

Ban ransom payments and establish a global death penalty for this crime.

I think growing up as a pastor’s kid may have been a big advantage in life. We did not have money, but we had status at the church, and at elementary school since that was in the church. I probably always received extra attention because of that, and also just spent a ton more time around other people than I would have otherwise.… read more “Pastor’s kid”

https://www.theverge.com/21507966/csk-8th-wonder-of-the-world

In a best-case scenario, the Legislative Fiscal Bureau found the state wouldn’t break even until 2043. Depending on how many people Foxconn hired, each job would cost taxpayers somewhere between $200,000 and more than a million dollars. The average subsidy in the US is around $24,000 per job.

I don’t get why C-Span host Scully was not fired for lying. I don’t care if he shares his political opinions, but if he lies about it then he can’t be trusted.

https://ryancaldbeck.medium.com/transitions-fa7ce4af435

I think most companies and founders will get far better off never taking outside funds.

Here’s a thought experiment about a theoretical company that can obtain incredible valuation.
You start out with some money from friends and family, and you use this money to sell $100 bills for $50. Lots of takers.

Soon enough, you go to a VC and show them your revenue stream, and tell them with more capital you can make the margins much better.… read more “Tornato7 wins comment of the year…”