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Cake day: September 15th, 2023

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  • 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.



  • alvvayson@lemmy.dbzer0.comtoMemes@lemmy.mlIsrael gotta go
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    6 months ago

    Exactly.

    If the USA tried to again be a White/European ethnostate and allow anyone with Caucasian heritage to immigrate and barred everyone else from immigrating, then no one today would accept that.

    And if they went full on apartheid and started putting natives and minorities in locked down ever-shrinking reservations, people would really lose their shit.

    When white nationalists try to advocate for such policies, they are rightfully criticized for being racist.

    I can never understand why Israel gets special treatment in that regard.




  • I didn’t think I’d find a mercantilist in 2024, but here we are.

    No, that’s not how it works, otherwise the US would be a poor country based on their massive trade deficit.

    Trade takes place because it is mutually beneficial. Each parties gets something out of each trade.

    Reducing trade therefore will always hurts both countries.

    Exactly which loses more will depend on a lot of factors, but in general smaller economies are more dependent on larger economies.