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This is accurate, but to add to this, the other thing that's hurting you if you work for your money instead of just owning assets, is taxes. The entire system is stacked against labor.https://twitter.com/naval/status/1446642101760905219 …
A fun game is to go over various policies and point how each one implements a regressive tax that benefits asset holders at the expense of working folks. QE? Regressive tax. Zoning? Regressive tax. Defense spending? Regressive tax. Tax code? Incredibly regressive.
And this is arguably much more impactful and the reason we have billionaires
Hello asyraf! 
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I think it's more correct to tax wealth rather than income. We already have "wealth tax" of ~1% on real estate. We could extend that to all wealth (replacing the income taxes).
Realizing how badly entire system is stacked against labor is an eye opener. It's almost as if people have to be systematically kept poor to do risky, unpleasant, hard jobs.
I guess that convinces me, I'll just switch to owning assets then
Labor and capital are differentially taxed because it is more economically and socially desirable to grow capital. One might argue that capital should be distributed more widely, but redistribution decreases capital formation. The tax rates are designed to optimize.
What about an AI program that tax according to your performance? The better you do they tax you more unless you are innovating and creating jobs, the lesser you do they tax you less.
You’re right, and these elements are that “hidden inflation”. That financial capital is treated so favorably over human capital is a function of who makes the rules. It does not require evil intent. It works well, till at the rails where it doesn’t.https://twitter.com/pentagoniac/status/1446700645411528710?t=4k998duUeV_Yqd7gi4TOpQ&s=19 …
and this is something I’ve taught my children at varying levels of depths since they were ~10.
This “hidden inflation” comes primarily from the uneven distribution of new wealth being printed by central banks. Everyone gets more, but asset holders get disproportionately more. https://twitter.com/naval/status/1446642101760905219 …Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.
