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Rory Sutherland made a quietly devastating observation about one of the biggest societal shifts of the last 50 years. He said the move to the double-income household started as an option but quickly became an obligation. The big winners? Governments (twice as many people to tax) and property owners...

386,226 Aufrufe • vor 5 Monaten •via X (Twitter)

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SHOULD GOVERNMENT BE ALLOWED TO TAKE PRIVATE PROPERTY? “People are waking up to the fact that the asset seizure tax is an elimination of private property rights, that fundamentally what you're saying [is] that private property now becomes public property. Because as soon as you give the government the right to collect your post-tax assets through a legislative vote, you are basically saying that you no longer have private property — because at any point in the future the government can vote to say I'm going to take your private property — which is different than an income tax. [An income tax] is when you earn something that you didn't have before, and they take a percentage of your earnings (of your income). The statement now is after you've made your income (it's now your private property) — they can come and take it. And so that is a distinction that has never existed in the United States. And I will make the retort right now to property tax, because people always say to me: ‘what about property tax?’ A property tax is a service fee on a particular, specific asset. The money that is collected provides services for that asset to make it more valuable. So you get roads, infrastructure, policing, fire, schools… All the stuff that comes with property tax makes that property [more valuable]. And you have the option at any point you want to sell that property and stop paying that property tax. You have the option at any point to downgrade your property and get a cheaper property and pay [a lower tax]. And here's the other important point about property tax: it’s uniform. Uniform means that everyone pays the same percentage, the same property tax rate in a county. This asset seizure tax that's being proposed is a demographic tax — meaning that the state or the legislature defines a specific group of individuals (in this case, they're saying anyone with a net worth over a billion dollars) and then they can go and take assets from only that group. That is nonuniform taxation. It means that for the first time we're saying based on the demographics of a person meaning whatever you want to use to define that person (in this case their wealth) — you are going to be treated differently. And that is different than an income tax, because remember when you have graduated income tax rates (and you say high earners get taxed more) — what you're taxing is the earnings, not the individual. You're not looking through to the individual to determine whether or not they're wealthy. All you're doing is looking at the independent earnings amount that's coming in. And so a uniformity clause is supposed to protect people from being demographically discriminated against. And you may roll your hand and be like: ‘Oh, who cares about the billionaires? Eat the rich. That's great.’ But fundamentally, you're giving the government, the legislature, the ability to in the future take any demographic definition they want and go in and take any percentage they want of after-tax property from you. That is why this is so troubling.” david friedberg The All-In Podcast

Ron Pragides 

258,567 Aufrufe • vor 7 Monaten

Why Ordinary Life Became a Luxury What this graphic is really showing is the slow transformation of what an ordinary life costs. In 1990, a household could still imagine that one decent income might carry most of the structure of adulthood. A home, children, health insurance, some expectation of education, some room left over for living. By 2026, income is much higher in nominal terms, but the things that define stability have risen much faster. The numbers on the paycheck grew. The purchasing power attached to them did not keep pace. That distinction matters because people do not experience the economy through GDP or nominal wages. They experience it through the mortgage payment, the insurance deduction, the tuition bill, the grocery cart and the question of whether another child would require another bedroom, another car, another decade of financial strain. Over time, the dollar has lost purchasing power, but not evenly. The cost of technology fell. Entertainment became cheap and abundant. At the same time, housing, health care and education became increasingly expensive. The things we can live without became easier to afford. The things around which we build a life became harder. And that changes families. The second income was once something that could create additional security. Now, for many households, it is necessary simply to maintain the same basic standard of living. Two people work because the mortgage requires two people working. Health insurance assumes continued employment. Childcare exists because both parents have to remain employed in order to pay for the house and the childcare that allows them to remain employed. It becomes circular. A family can earn more money than its parents ever imagined and still feel less secure because every dollar has already been assigned somewhere before it arrives. This is part of why marriage, children and homeownership increasingly happen later. These decisions have become financial decisions in a way they were not always experienced before. People calculate whether they can afford the second child. They calculate whether one parent can stay home. They calculate whether losing a job for six months would mean losing the house. None of this means earlier generations had easy lives. They faced recessions, high interest rates, layoffs, wars and their own forms of insecurity. What changed is the amount of leverage required to reproduce what used to look like an ordinary middle class life. And leverage changes people. It makes households more productive but also more fragile. It makes careers harder to leave, marriages more economically intertwined and mistakes more expensive. It narrows the space between doing fine and being in trouble. That may be the deeper story behind the graphic. The modern household has more dollars, more technology and more access to credit than the household of 1990. But it often has less freedom to stop earning. The erosion of purchasing power did not just change what money buys. It changed how families live, when they marry, whether they have children, how much risk they can tolerate and how dependent ordinary life has become on two uninterrupted incomes. The finish line moved, but so did the consequences of falling behind.

EndGame Macro

12,231 Aufrufe • vor 17 Tagen

I never wanted to be a politician and I still don’t. I’ve had two successful careers and have started a few small businesses. I’ve also worked for some big corporations. I was ready to retire and spend more time with my family – which I’ve done for the past 3 years. I think they’re ready for me to find something else to do. I’m tired of seeing the leaders of our country being influenced by the toxic divisions that are tearing apart our families and society. It’s time for me to step up and do my civic duty. To give back and try and change things for the better. If not me, who? If not now, when? It’s easy to look at the economy and realize that something has gone horribly wrong. Working people, the middle class, and small businesses have been losing ground over the past 20 years. The goose that lays the golden eggs for our country has been kicked around and squeezed to the point where laying more golden eggs is almost impossible. Consider that since 2000 the cost of food has risen more than double the rise in average household income. The cost of a home has risen 6 times and the amount of government spending 5 and a half times. The S&P 500 has gone up 9 times more than the rise in average household income. To everyone who works and is trying to do the right thing for their family, to everyone who is young and wonders why their lives are worse than their parents: you are not wrong. And yet, who have we allowed to have the most influence over our government? Big corporate executives and big union bosses. Big tech, big pharma, big media, big whatever – all trying to control big government in Washington DC. This needs to stop. Our government spends money on the wrong things and spends way too much. One thing the federal government should certainly be responsible for is the security of our borders. Instead, we see millions of people coming in without any accounting for who they are, what they intend to do, or what they’re bringing with them. And they’re being given access to all sorts of handouts at our expense. At a minimum, the federal government and the state governments should be working together to enforce existing laws and secure the border. Seeing our government at war with itself is unacceptable. For my whole life, in every place I’ve ever lived, I’ve seen people working to provide for their family. Values like self-sacrifice, faith, integrity, fidelity, and valor are simply part of who these people are. They do these things not because the government tells them to, but because they know the right things to do - moral obligations that are freely chosen, not mandated by a government. It doesn’t take a village to raise a child, it takes a family, and it takes families to make a village. The sad reality is that many children in our country are suffering. Years of ridiculing and demeaning old fashioned “family values” have taken a toll. Our society’s strength, fundamentally linked to the vitality of the family structure, has been eroded. I want to champion the traditional family as critical for a child’s development and success. The data proves this. However, my approach will be inclusive, recognizing all who step up to provide for their children. I’m not worried about the government being a safety net. I want the government to stop being an impediment. I’m ready to go to DC and see if I can help bring back sanity and civility to the public discourse on these issues and all the other issues that face our great nation. We need bold leaders for such a time as this.

Marty O'Donnell

16,063,347 Aufrufe • vor 2 Jahren