The answer is a wealth tax. The inequality grows leading into a need for investments like these. If all other assets weren't so inflated then we could at least wish PE wouldn't need to do things like this but this is what will happen. Excess capital keeps buying up assets lower classes need due to lack of options otherwise.
I'm still an advocate of the old-school top income tax bracket of 85-100% i.e. a maximum income. A general wealth tax always seems like double-dipping; today I take $1 out of your $10, and a year from now I take 90¢ from your remaining $9. It's more of a motivation for one to continue accumulating (a floor, even) just to tread water.
Property taxes are different, because more services get provided to people with more property. Income taxes are fine because we take it as a given that the state has the ability to regulate every aspect of domestic financial transactions and financial lives, at least in our currency (even if we don't or shouldn't, we of course can.)
A yearly individual income cap means at the least people would have to put money in more hands. Being corrupt on a large scale would hopefully require a larger conspiracy.
I'm fine with arbitrary wealth taxes and taxes on capital, with arbitrary justifications, so I'm probably not saying much here; but I'm not in support of a revolving wealth tax.
This is also due to inequality which leads to more and more of the same. There just aren't many ways entrepreneurs can add value. It is easier to capture it from assets needed by lower classes. Get a wealth tax to fix this or at least tax the wealth out of the rich.
Funeral homes and anything else not run by a single professional has had this treatment. This is due to inequality. The wealthy have nowhere left to invest but things like this which raise costs for the lower classes. Taxing wealthy far more is the only solution but people have a hard time voting in their interests. We're doomed.
False. He actually has went and reworked troll posts he made in the past. Thats what this guy does. He has no intellectual integrity. His technical background (calling yourself COO doesn't really count as a technical background)
In the past, this person trolled Bitshares to make a name for themselves. They selectively cut'n'pasted snippets of the Bitshares forum as some form of evidence in other posts. There is a ton of context there that was removed. A blockchain can give an asset value, but that doesn't mean every market will guarantee those prices. He is now going after the Maker coin. The guy does well SEOing his website with this rubbish but he doesn't seem to understand much outside of that. oh well, no big deal until google/ycombinator point to him as an authority.
This is an awful article. How is it at the top of ycombinator. There is no breakdown of any costs or what their living standard ACTUALLY is. These people could very well (and likely do) have spending issues. Eat out too much, buy too many gadgets, replace their car far too often, etc. Thats the problem far too often. Boo Hoo
This is why anytime you are dealing with things that anyone could conceivably find questionable you either develop a website or skip Apple. Their fanboys tend to have money, but let this be a lesson..
This is idiotic. The author harps on the "direct wealth transfer" and optimizing for previous employees. This "optimization" happens before employees are hired, not after they leave. The effect is realized after the ex-employees have left.
