hunterhacker

@hunterhacker@mastodon.social

Tweetbot is dead! Apollo is dead! Long live Ivory!

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rbreich , to random
@rbreich@masto.ai avatar

Stock buybacks are lethal, literally https://robertreich.substack.com/p/stock-buybacks-are-lethal-literally?utm_source=dlvr.it&utm_medium=mastodon

hunterhacker ,

@rbreich I’d like to hear your academic argument against stock buybacks, one that wasn’t playing to the peanut gallery.

Clearly companies are supposed to return money to shareholders, via dividends or reducing share counts. That’s why people buy shares. Would you just prefer it be dividends?

rbreich , to random
@rbreich@masto.ai avatar

I'm not saying we shouldn't worry about how China might be using TikTok to steal our data and manipulate us...

But why aren't we at least as worried about the U.S. billionaires who own the other apps stealing our data and trying to manipulate us?

hunterhacker ,

@rbreich Tackle one thing at a time. Much easier to have a rule against adversarial foreign influence than one limiting domestic overweight influence.

rbreich , to random
@rbreich@masto.ai avatar

Wealth of top 1% in 2020: $30 trillion

Wealth of top 1% now: $44.6 trillion

That’s an increase of nearly 50%.

I don’t want to hear that the super-rich can’t afford a wealth tax.

They are literally the richest they have ever been.

hunterhacker ,

@rbreich Tax their capital gains, either when they sell or when their heirs sell. No more cap gains resetting upon death.

Much easier than a wealth tax.

rbreich , to random
@rbreich@masto.ai avatar

March 2020: US billionaires worth a combined $2.9 trillion

March 2024: US billionaires worth a combined $5.5 trillion

That’s an 88% increase in billionaire wealth since the pandemic hit.

Wealth tax. Now.

hunterhacker ,

@rbreich Much simpler and more palatable to people is eliminate the step up in cost basis upon inheritance. Why do those gains never get taxed? Makes no sense. Even if the inheritor doesn’t sell immediately, the lower basis should persist.

rbreich , to random
@rbreich@masto.ai avatar

Inequality has jeopardized the future of Social Security.

As the rich have gotten richer, more and more of their income has escaped the cap on the Social Security payroll tax.

We should be focused on fixing this by scrapping the cap, not cutting benefits. Hello?

hunterhacker ,

@rbreich FICA hits W-2 earners not the real rich, plus FICA benefits on retirement are capped so …

rbreich , to random
@rbreich@masto.ai avatar

Who do you trust more with TikTok — China, or American billionaires? https://robertreich.substack.com/p/who-do-you-trust-more-with-tiktok?utm_source=dlvr.it&utm_medium=mastodon

hunterhacker ,

@rbreich You don’t let a foreign government control your influential media. Next question.

rbreich , to random
@rbreich@masto.ai avatar

Because of the pay gap, women have lost out on more than $60 trillion in wages since 1967.

Yes, trillion.

Today women still earn roughly 84 cents for every dollar earned by men, despite playing an outsized role in our economy.

We must ensure fair wages for all.

hunterhacker ,

@rbreich If a company can buy the same labor output for 84% the cost, why doesn’t that arbitrage opportunity close itself? That’s always puzzled me.

rbreich , to random
@rbreich@masto.ai avatar

Nikki Haley:

-Said Florida’s Don’t Say Gay bill “doesn’t go far enough”

-Would sign a federal abortion ban

-Pledged not to "expand Medicaid ever”

-Proudly called herself a “union-buster”

Don't let anyone fool you into thinking she’s some moderate alternative to Trump.

hunterhacker ,

@rbreich She would leave office if she lost. That’s what makes her special.

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