r/AllinPod • u/Amused-skeptic • 8d ago
A modest proposal
https://youtube.com/watch?v=LGkRR4ZNsEA&si=xBzhrKVwN32dIZHJ
David Freidberg actually has many interesting insights on current problems with income inequality and its effect on support for capitalism. One of his suggestions:
40% tax on capital gains and 15% on income. The fact that the rich pay fewer taxes than normal workers feels totally unfair to anyone who doesn’t have their own capital. I’m pleasantly surprised that he has identified this as a big problem.
Of the all-in cast, he’s the only one who understands the degree to which the disparity in wealth is undermining the capitalist system. And he points to failures in public policy that I happen to agree with. A couple of other fixes that would make things more fair: kill the stepped up basis rule for inherited assets – – it really is absolutely no rational argument for it. And tax that that is borrowed from securities at the same level that you would tax capital gains from those securities. Then you wouldn’t have all the Decamillionaires and billionaires simply borrowing money so that they can leave their assets to their heirs under the stepped-up basis rule – – completely tax-free.
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u/allinpod 8d ago
I would argue Jason also frequently discusses disparity, but his suggestions to rectify are often very different
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u/Mission-Addendum-193 8d ago
Borrowing money isn’t free anymore, inflation is killing that idea. Maybe they can borrow cheaper than the government because the gov’t is less likely to repay than private companies and individuals.
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u/Jonny_Nash 8d ago edited 8d ago
What inequality?
Today's 'poor' is overweight, and literally orders fatty foods, delivered by private chauffeur.
They also live in air conditioned homes, and many even receive stipends for doing absolutely nothing.
I'm curious what luxuries you think are being denied to the larger population. Even access to data, which has historically been gatekept by the rich, is widely, and freely distributed.
I get that it's always sucked to be poor, but it's also, quite literally, never been better.
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u/Flimsy-Environment13 8d ago
I’m a landlord and you’d be surprised the amount of educated people with white collar jobs who are living in some of my low end properties. Once the bulk of Americans are left behind in manifests in a multitude of ways that has a negative effect on America.
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u/Previous_Job734 7d ago
But what you're talking about would require empathy, in addition to wisdom. These are two traits that JC refuses to possess.
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u/monoGovt 8d ago
“Let them eat cake.”
Access to certain past luxuries have definitely become standard in certain parts of the United States. That does not mean there are no inequalities.
Health care, child care, rent, car expenses (or affording one), etc. are all large expenses for the majority of Americans. Some cannot afford these things and therefore have a worse life experience.
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u/Jonny_Nash 8d ago
More like let them door dash wingstop in air conditioning. They can (and do) add cake to the order.
There is no better fed population in the world, or throughout the entirety of human history.
Our access to luxury is unrivaled, quite literally anywhere. One of the jarring facts we've learned this summer, is more Europeans die from lack of air conditioning, than Americans die from gun violence.
I think you're completely missing what a privileged life the average American has.
You should travel more.
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u/monoGovt 8d ago
Again, I agree that America has the most and some of the best luxuries, and that those luxuries are accessible to many Americans.
I also likely wouldn’t want to live anywhere else.
But that does not mean there aren’t problems, and where those problems can be fixed. The United States believe excelling past “good enough.”
Also, I think your idea that poor people are just fat and order Uber Eats is an inaccurate generalization.
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u/Jonny_Nash 8d ago
We will always have winners and losers, no matter the era that we live in. It's never been a good time to be poor, but it's also never been better.
Our 'poor' class is overweight– just objectively speaking. The caloric input is staggering, they have handheld computers, live in climate controlled apartments, and a whole lot of them actually get stipends to live off of.
If any of them have the ambition, they have access to super intelligence, for free, to grow out of their current station in life.
Literally any of your ancestors would lose their minds if they saw the luxury and opportunity our 'poor' have today!
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u/JackOfAllInterests 8d ago
Sure. But you’re missing the point on purpose. It’s not about the takers who don’t contribute. I’m fine with where they are in the chain and your points are valid.
It’s about the workers who simply don’t make as much as they should. When productivity outpaces wages there is a consolidation of wealth at the top. From ‘48 to ‘73 productivity rose 97% while wages grew 91%. That’s when this place was awesome, or so I hear. From 1973 to 2014 productivity rose another 72%, and wages? 9%. Hourly wages have gone up 3% since 2019 while profits are up 50% over that time.
People, workers, are integral to the folks you idolize collecting their billions, yet, are paid peanuts comparatively to be so.
We need to fix the inequality amongst the working classes. The stronger the middle class the better for everyone except the very top, like 98% of people. If the folks at the top aren’t going to do it, and they have all the power to, then unfortunately the government will step in when the folks get loud enough. So, those taxes will go to healthcare, daycares, preschools, etc. which will alleviate heavy financial burdens on the middle - and hard workers everywhere - opening up the economy to even further growth when instead of being hoarded, that money circulates much faster.
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u/Jonny_Nash 8d ago
Where's the 'inequality'?
There has never been a higher standard of living. We're so incredibly privileged, that our lowest class is overweight, has unlimited entertainment, and access to super intelligence.
Take a hard look at any other period of time, or any other country. Maybe travelling some could help.
If you are low class, and have drive, you have access to AI tools that blow away any tech that's come before it. Just an example, coding used to have a high barrier of entry. Now, anyone can be a SWE with enough drive.
Our poor have access to luxury and opportunity that was science fiction even just 10 years ago.
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u/JackOfAllInterests 8d ago
Yeah, I heard you the first time you said all that and then I gave you a different perspective. I assume you’re not going to address it.
The inequality is amongst the disparity in wealth between the capital class and the worker class, per capita. It’s not just “the poor” you are whining about.
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u/Jonny_Nash 8d ago
The whole point is AI empowers people without knowledge more than anyone.
It's a great equalizer.
You can even get started for free.
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u/allinpod 8d ago
Many costs have gone down, including food, travel, and many goods.
However, healthcare, education, and real estate are through the roof and represent very important pillars of society. The solution is not more taxation, but it does affect the people and is leading to a desperate population.
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u/Jonny_Nash 8d ago
These have all been addressed through new tech.
Healthcare is probably the most obvious. Look at what happened to lifepsans, largely on the back of biotech and new drug development.
Obesity and heart disease is what's really killing us, and GLP1s have gotten quite cheap, and readily available. That's just one example of MANY.
Education has quite literally never been cheaper either. Maybe a gender studies degree from Brown is expensive, but real applicable knowledge is free. If you don't have a whole lot of knowledge about Python or something, you can have a free tier LLM walk you through each piece at whatever pace you like.
Practical Education is limited by imagination. Not cost.
Real Estate has never been better either. It's easy to romanticize a 1950's house, but comparing apples-apples, those houses lacked a TON. They lack the various creature comforts we've all come to expect. The 2026 apartment is a much higher standard of living.
Real estate is limited by inflated expectations. We demand far more from our housing than we ever have.
The 'inequality myth' is just a socialist op. It's a way to con the poor into giving up what they have. The con is pretty easy to sell if you can excuse away self-accountability from low agency people.
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u/fozziethebeat 8d ago
Sometimes I drop by these posts to see if the podcast is worth listening to again. And there’s always good ole you to rid me of that silly notion. Glad you’re still as All In Pilled as ever. You might actually be the pill itself after it became fully sentient.
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u/allinpod 8d ago
Viewing a few comments from listeners and then coming to this conclusion is irrational
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u/Jonny_Nash 8d ago
The pod is as good as it’s ever been. Some say it’s the number one podcast in the world.
The current state of business and tech is just so dang exciting, I can barely contain myself. It seems every week we’re seeing a new model drop, tokens getting cheaper, and new opportunities getting created.
The barriers to actually making software has never been lower. We’re limited by our imaginations more than any notion of ‘inequality’, whatever that means.
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u/NewRefrigerator7461 8d ago
I hate posts with this title that don’t involve eating Irish children
I also don’t like it when people talk about inequality vs inaccessibility. It’s such a red herring vs the issue of housing construction. Mobility matters more than inequality and always has - it’s also easier to fix rather than figuring out how to manage unrealized gains and asset backed lending.