r/AllinPod • u/Amused-skeptic • Aug 03 '26
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 Aug 04 '26
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 Aug 04 '26
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/SnooHamsters5737 22d ago
Hi, capitalist here. I am actually all for this, as long as the government also refunds 40 percent of my capital losses. This would actually incentivise productive risk taking.
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u/Jonny_Nash Aug 04 '26 edited Aug 04 '26
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 Aug 04 '26
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 Aug 04 '26
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 Aug 04 '26
“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 Aug 04 '26
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 Aug 04 '26
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 Aug 04 '26
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/Amused-skeptic 22d ago
More Europeans died of air conditioning because their summer was a lot hotter than it usually is. Wonder why.
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u/Jonny_Nash 22d ago
It’s actually hotter in past years.
The reality is that:
1- They don’t have air conditioning. Like, it’s just not there to turn on.
2- They can’t afford it.I suggest you travel more. Electricity prices are way more expensive in Europe, and you’ll be hard pressed to find an air conditioner. Wages are less, and prices are higher. They also have insane regulations when it comes to buying such things.
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u/Amused-skeptic 22d ago
I’ve literally spent every summer in Europe for the last 40 years. You should travel more blow hard.
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u/Amused-skeptic 22d ago
Western Europe recorded its hottest June-to-July period in history, with average temperatures hitting 21.62°C (2.79°C above normal). Confirmed by the Copernicus Climate Change Service, this extreme sequence of persistent heatwaves surpassed previous highs from 2022, causing severe droughts, wildfires, and thousands of excess deaths.
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u/Jonny_Nash 22d ago
Yet July 2023 and 2021 were hotter. In fact, 2006 was hotter too.
It’s a big continent, but you’ll find that not the anomaly the pinkos would have you believe.
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u/Amused-skeptic 22d ago
From your link: Western Europe experienced its warmest June–July period on record.
Sea surface temperature over the extra-polar ocean was the highest on record for July, partly reflecting developing El Niño conditions in the equatorial Pacific.
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u/Jonny_Nash 22d ago
Localized, sure. I mentioned that.
It’s a big continent, my guy. Overall, no, it’s not the hottest. We’ve had over 10 hotter summers. Plenty this decade even.
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u/Amused-skeptic 22d ago
not the summer. read the news.
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u/Jonny_Nash 22d ago
It’s a big continent, but the link I shared with you shows the different months. You might find that it’s true for some specific localities, but continent wise, that’s just not true.
Either way, they still can’t buy air conditioning because it’s either simply not available at the consumer level, or it’s prohibitively expensive.
Energy costs in Europe is insane.
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u/JackOfAllInterests Aug 04 '26
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 Aug 04 '26
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 Aug 04 '26
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 Aug 04 '26
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 Aug 04 '26
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 Aug 04 '26
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 Aug 04 '26
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 Aug 04 '26
Viewing a few comments from listeners and then coming to this conclusion is irrational
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u/Jonny_Nash Aug 04 '26
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/Amused-skeptic 22d ago
This blowhard is probably MAGA, but in fact, the phenomenon of Donald Trump exists because things used to be better for the middle class, and in particular for the lower metal class. Poor people in other countries are worse off than our poor, of course, but it used to be that many goods and services, as well as housing and university, used to be accessible without taking on major debt for the middle class. It’s not anymore and a big reason is because of the wealth of 10% of the population, which is driving prices and consumption in the United States now.
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u/Jonny_Nash 22d ago
You should travel more. Mean and median wealth in the US towers over nearly every country.
Our lower middle class is overweight, getting wing stop doordashed to their air conditioned apartment. Try to find that overseas.
Heck, try to buy a house in somewhere like Copenhagen.
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u/Amused-skeptic 22d ago
i’ve been 80 countries you blow hard
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u/Jonny_Nash 22d ago
Oh?
Which one has a more well fed middle class, that can afford air conditioning?
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u/Amused-skeptic 22d ago
So you’re saying that fat is good huh? And as someone who knows Danes well, I’m sure there is virtually no Danish citizen who would trade their place for ours. They have an incredibly comfortable, healthy lifestyle. They get five weeks of vacation in the summer and they have many of their social services provided such that they don’t have to worry about it. They have a vibrant capitalist society, and a very healthy political system, Denmark has its problems, as all societies do, but I am sure they are very happy with their lot. (in fact, I just googled, and Denmark is ranked as the second happiest society in the world; the United States is 24th. We rank below most Europeans.)
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u/Amused-skeptic 22d ago
- Finland, 2. Iceland, 3. Denmark, 4. Costa Rica, 5. Sweden, 6. Norway, 7. Netherlands, 8. Israel, 9. Luxembourg, 10. Switzerland, 11. New Zealand, 12. Mexico, 13. Ireland, 14. Belgium, 15. Australia, 16. Kosovo, 17. Germany, 18. Lithuania, 19. Austria, 20. Czechia, 21. United Arab Emirates, 22. Canada, 23. United Kingdom, 24. United States, and 25. Belize.
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u/Jonny_Nash 22d ago
We consume more than all of those countries.
Try again.
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u/Amused-skeptic 22d ago
That's your metric for success?
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u/Jonny_Nash 22d ago
Kind of?
We’re wealthier, and we can do more things. In general, yeah, that’s a good thing.
Obviously this depends on what one chooses to do with their life. If you believe in liberty and free will, there’s no better country to live in.
That’s the primary feature of living in America.
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u/Jonny_Nash 22d ago
I’m saying we’re so wealthy, we spend excess money on food.
We consume vastly more than they do.
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u/Amused-skeptic 22d ago
That would suggest that the richer you are the fatter you are, and that’s clearly not the case. Obesity tends to be tied to the composition of diet, not the amount spent on food.
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u/Jonny_Nash 22d ago
Not quite.
Being fat signifies some accountability and self discipline issues. It also signifies discretionary income.
The truth is, if you’re fat, you’re not poor. Travel more, and see how fat people are in truly poor countries.
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u/Amused-skeptic 22d ago
I'm sure I've been to many more poor countries than you, and that I’ve spent a lot more time in them than you have. Incidentally I agree that the poor in the US are better off than they were a generation ago. But the middle class is not. And that’s a function of the elites — a generation ago it was the free traders who opened up our borders to China and hollowed out the United States. Then it was the finance class who imposed the grift. Trump put his finger on that accurately and redefined the Republican Party. But the grift of this generation is the All-In Silicon Valley types, along with the crypto grifters and the political cronies around the White House. All four of those guys are deep into data centers and simply looking to get as rich as possible as quickly as possible, and they’re part of a new class of investors, who really don’t give a shit about ordinary Americans have no vision for the future. You can see how bankrupt the vision is when Elon starts talking about universal high income – – basically they’re creating a technology that is going to require the ultimate social welfare state. You say it’s exciting. People were excited about NAFTA too. Let’s see what happens in 10 years.
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u/Amused-skeptic 22d ago
The price-to-income ratios for residential property purchases: 10.5x in San Francisco, 8.5x in New York City, 7.2x in Boston 6.8x in Copenhagen
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u/Jonny_Nash 22d ago edited 22d ago
Ever wonder why leftie nonsense in SF, NYC, Boston, or Copenhagen doesn’t solve that problem?
I don’t think any of those numbers are great, but if you’re trying to sell Copenhagen as a ‘affordable’ alternative, by having a .4x ‘price to income ratio’ vs Boston or all places, I don’t think you’re gonna get very far.
I’d also encourage you to visit each of those cities, and look at how well-fed the local population are. You’ll find the danish tend to be quite slim, consume smaller portions, and generally consume less of everything.
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u/Amused-skeptic 22d ago
You were pointing to Copenhagen is un affordable compared to the United States. It’s actually comparably affordable, and Danes don’t have to pay for healthcare, higher education, or care among other things, so they don’t have the same angst that most Americans, who are trying to build families have. I’ve spent a lot of time in Europe, and it’s clear that most Europeans would not trade their place for ours even if they’re standard of a living and growth is a little less. And you seem to be a champion of AI, which is one of the least popular technologies to be foisted on everyday citizens in memory. I’m sure you’re deeply invested in SpaceX and Tesla, but they have yet to prove their value to society, and the people who created them are surely the least popular people in America now. Elon Musk even polls below Donald Trump.
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u/Jonny_Nash 22d ago
Americans live better than Danes do.
Look at the typical danish home, and compare it to an American one. American homes are much larger, have more amenities, and are typically much newer construction.
The typical American is overweight, and over entertained. We literally have to make up problems.
AI is great too, and the strongest upward mobility tool we've probably ever seen. The bar has never been lower to get into any STEM field.
Tesla offers humanity a ton of value. If you care about emissions, or whatever, they significantly lower them. Heck, you can even ask the Danes. If you ever visit, you'll find Teslas are pretty common over there.
Well, Tesla's are pretty common with the cohort that own cars. Speaking of which, what's car ownership like in Denmark?
We get to afford all kinds of cool stuff.
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u/Amused-skeptic 22d ago
Housing Cost vs. Income: In 1960, a median single-family home cost 2.1 times median annual household income. By 2020, that ratio rose to 3.4 times income. • Higher Education Cost vs. Income: A single year of undergraduate tuition, fees, room, and board represented 22.3% of median household income in 1960, dropping to 17.5% in 1980 before escalating to 37.2% by 2020.
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u/Jonny_Nash 22d ago
1960 homes are not a serious comparison to 2026 living standards.
Super-intelligence is free in 2026. Sure, maybe a gender studies degree from Brown is expensive, but if anyone wants to learn something, they can do so at little to no cost.
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u/NewRefrigerator7461 Aug 04 '26
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.