• 0 Posts
  • 28 Comments
Joined 1 year ago
cake
Cake day: September 15th, 2023

help-circle




  • The top 10% of income is not upper class. The error that people make, including you, is to focus on income.

    People like Elon Musk have incomes smaller than $100K.

    Upper class are the people who do not need to work and who live off of capital.

    We need to shift our focus on wealth equality.

    Look, the economy needs capital. If we want to be less dependent on the capital of rich people, then middle class people need to take over that role.

    The people making $100-300K per year are key, because they can provide an alternative source of capital if their tax burden is lowered.

    The people making $50K will not be able to provide large amounts of capital.



  • Which is why the tax system needs to be reformed.

    The political right actually has one good point that we on the left don’t always appreciate: taxes on middle class people should be lower.

    Specifically, very liberal tax exemptions on things like 401Ks, including the ability to transfer wealth across generations.

    Combine that with higher taxes on the wealthy, and it will be possible to shift power to the middle class.

    Consider the total market cap of the S&P 500, rounded up it’s about 50 trillion. Divide that among 130 million households and each household should own about $400K in stock on average.

    Full equality is neither achievable nor desired by most people, so a good scheme would be to let every household hold up to $1M in wealth, tax exempt.

    And then progressively tax everything above that.



  • While I do agree with you, I also see twitch, TikTok and Patreon presenting models that are quite competitive with YouTube.

    From a privacy perspective, free junk content like TikTok, YouTube and twitch will always be hard coupled with targeted advertising.

    But Patreon (and onlyfans for that matter) do offer a model that can work without ads.

    In fact, if Patreon also introduced an ad-supported tier and allowed you to more broadly see other content aside from the direct person you sponsor, it could probably grow quite a lot.





  • As your links explain, C series is used for envelopes, while B and elongated A are special case that aren’t commonly used.

    In any case, none of those series has an equivalent to American Letter.

    The only paper that you will commonly find in European offices are A4 and (to a lesser extent) A3.

    A big office printer might have 4 trays stocked with A4 and one tray with A3, for example.


  • As a European, I do appreciate Legal as a format.

    It just happens slightly too often that an A4 is not long enough and the last bit, including the signature, goes to the next page.

    I wish Legal was common here. Or perhaps we could get a Long A4 with a third extra height or so.

    The Letter format should just be replaced by A4 though.





  • Dude, I’m really sorry, but the 19th century sent a letter by pony express and they want their economic theory back.

    There are struggling “capitalists” that own their own little manufacturing company, restaurant, hair salon or other small business.

    And then there are rich as hell “workers” like Taylor Swift who have become billionaires through their own labour. She can fill football stadiums full of people willing to pay top dollar to see her perform, I simply can’t.

    And I think most people don’t have a problem with Taylor being a billionaire.

    But the problem arises when middle class people pay half of what they have in tax, while rich people have effective tax rates of <10%. Jeff Bezos had a five figure tax bill as he became the richest man in the world.

    A million middle class Americans making $100K are still out earning Jeff by a huge margin, but they are collectively also paying way more tax than Jeff, so Jeff can keep investing his money, while those million Americans live paycheck to paycheck.



  • It’s not just Reagan. The same is happening all over the world, including Europe. And his policies were 40 years ago. At some point, we need to own our own problems.

    The real issue is that the rich people worldwide have figured out how to mostly avoid paying taxes, while the middle class bears the brunt of taxation - which prevents them from becoming wealthy - and the lower class gets nothing.

    That wasn’t Reagan, it would have happened even if FDR had become an immortal vampire and had the New Deal lasted a century.

    What we really need is to start taxing the rich and to greatly reduce taxation on the middle class. And we need to really get serious about it.

    The US government can spend millions to track down and kill a Shepard in Syria, but they can’t find the capital gains on Jeff Bezos portfolio.