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Noah Smith & Brad DeLong’s 30:00 < [Length of Weekly Podcast] < 60:00
Key Insights:
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Financial arguments in opposition to larger taxes that will have been considerably believable again within the days of 70% or so most particular person and 40% or so most capital positive aspects tax charges merely don’t apply now.
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Proper-wing events that do not suppose they’ll credibly make the argument that cosseting their core constituencies is important for speedy financial development seek for some non-economic cleavage wherein the wealthy and the right-thinking poor, or the right-colored poor, may be on one facet and the individuals who search a fairer and extra equal distribution of revenue and better taxes on the wealthy may be placed on the opposite—let’s all yell about important race concept, and possibly they will not take note of the truth that we simply, you understand, take everyone’s cash.
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Capital to fund funding is admittedly not an enormous constraint proper now—incentivizing financial savings in monetary property actually is simply pushing on a string.
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Corporations with investments which have excessive societal worth in growth should be correctly incentivized—both by the odor of extra income subsequent yr from serving a bigger market with decrease prices of manufacturing by means of bigger scale, or by means of the federal government paying and so getting costs righter than the free market will get them.
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“Doge coin” is pronounced with a comfortable “g” sound.
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No, Doge coin will not be named after the title of the pinnacle of state of the Venetian Republic
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Doge coin’s title comes from the Homestar Runner line: “I need a doge”…
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Hexapodia!
References:
Len Burman (2021): Biden Would Shut Large Capital Good points Loopholes—At Least For The Wealthy <https://www.taxpolicycenter.org/taxvox/biden-would-close-giant-capital-gains-loopholes-least-rich>
Peter Diamond & James Mirrlees (1971): Optimum Taxation and Public Manufacturing I: Manufacturing Effectivity <https://www.jstor.org/steady/1910538>
Peter Diamond & James Mirrlees (1971): Optimum Taxation and Public Manufacturing II: Tax Guidelines <https://property.aeaweb.org/asset-server/journals/aer/top20/61.3.261-278.pdf>
Ken Judd (1999): Optimum Taxation and Spending in Common Aggressive Development Fashions <http://darp.lse.ac.uk/PapersDB/Judd_(JPubE_99).pdf>
Paul Krugman (2021): Why Doesn’t Reducing Taxes on the Rich Work?<https://www.nytimes.com/2021/04/30/opinion/tax-cuts-rich.html>
Jacob Lundberg & Johannes Nathell (2021): Tax Burden on Capital Revenue: Worldwide Comparability <https://taxfoundation.org/tax-burden-on-capital-income/>
Robert McClelland (2021): Avoiding Biden’s Proposed Capital Good points Tax Hikes Gained’t Be So Simple. Or Will It? <https://www.taxpolicycenter.org/taxvox/avoiding-bidens-proposed-capital-gains-tax-hikes-wont-be-so-easy-or-will-it>
Alicia Munnell (2021): Biden’s Plan to Totally Tax Capital Good points Is Good Coverage<https://www.marketwatch.com/story/bidens-plan-to-fully-tax-capital-gains-is-good-policy-11620658190>
Garrett Watson & Erica York (2021): Capital Acquire Charges Beneath Biden Tax Plan<https://taxfoundation.org/biden-capital-gains-tax-rates/>
Thomas Piketty & Emmanuel Saez (2012): A Principle of Optimum Capital Taxation <http://gesd.free.fr/w17989.pdf>
Ludwig Straub & Ivan Werning (2020): Constructive Lengthy-Run Capital Taxation: Chamley-Judd Revisited <https://www.aeaweb.org/articles?id=10.1257/aer.20150210>
Tax Basis (2017): Preliminary Particulars and Evaluation of the Tax Cuts and Jobs Act <https://taxfoundation.org/final-tax-cuts-and-jobs-act-details-analysis/>
&, in fact:
Vernor Vinge: A Fireplace Upon the Deep <https://books.google.com/books?id=fCCWWgZ7d6UC>
<https://braddelong.substack.com/p/podcast-hexapodia-xiv-the-capital>
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