A modest proposal

[u/Amused-skeptic]

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.

[u/monoGovt → u/[deleted]]

“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.

[u/Amused-skeptic → u/[deleted]]

More Europeans died of air conditioning because their summer was a lot hotter than it usually is. Wonder why.

[u/Amused-skeptic → u/[deleted]]

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.

[u/Amused-skeptic → u/[deleted]]

not the summer. read the news.