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@ezraklein | |||||
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I think it's @KelseyTuoc who's said the policy equilibrium here marries much higher taxes on the rich with more compliments.
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Ezra Klein
@ezraklein
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31. lis |
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To "elevate the dialogue" a bit, I'm struck in this Cooperman-Warren letter, as I am so often in these dust-ups, by how much what billionaires respond to isn't the details of tax policy, but the respect their labor is given. fm.cnbc.com/applications/c…
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Ezra Klein
@ezraklein
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31. lis |
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You read that and it's pretty clear Cooperman would pay higher taxes, but he wants to be thanked and recognized for contributing the fruits of his labor, not told more is owed from him.
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Ezra Klein
@ezraklein
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31. lis |
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Which makes sense. These guys are post-economic. The money has long ago stopped buying things. It's a marker, for them, of worth and accomplishment. To take that away is what hurts, and what they don't like about Warren is she refuses to genuflect.
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Kindly Wizard
@KindlyWizard
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31. lis |
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You should read Anand Giridharadas's Winners Take All, if you haven't.
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Anand Giridharadas
@AnandWrites
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31. lis |
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Not only did he read it. He did one of the smartest podcast discussions of it ever.
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Mark Schmitt
@mschmitt9
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31. lis |
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This is why I've suggested, half-sarcastically, that we just make "billionaire" a title, like Viscount or Baron. Reduce their wealth to the mere $100s of millions, but let them keep the title as a gesture of respect.
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Nancy Minter
@NncyRuth
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31. lis |
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The problem is they believe their own marketing. They think that because they worked hard, they did it on their own. But no one does it alone. They need a reality adjustment, there have already been too many compliments.
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DOD
@dcodea
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31. lis |
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i guess we have to bring back landed titles, that you get for paying a certain amount in taxes
to reduce inequality, we must... create an aristocracy
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Dan Miller
@meelar
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31. lis |
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We've complimented them an awful lot over the past few decades, and it sure hasn't built a powerful movement capable of raising their taxes, so I don't think that's a useful equilibrium.
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Nick Beaudrot
@nbeaudrot
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31. lis |
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@sethdmichaels But the respect and the tax policy are circular. To a large extent, pro billionaire tax policy depends on the public agreeing that billionaires deserve respect.
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Seth Stephens-Davidowitz
@SethS_D
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31. lis |
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But Elizabeth Warren/Bernie Sanders supporters don't want to kiss the asses of billionaires -- and might have enough votes to get the higher taxes without the compliments. So a stable policy equilibrium might be higher taxes and unhappy billionaires.
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Seth Stephens-Davidowitz
@SethS_D
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31. lis |
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Or unhappy former billionaires, rather.
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