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Obviously I don’t think tax hikes are needed to pay for spending. And I guess there’s some risk in any tax increase when the economy is still weak. But seems like if you’re interested in doing anything about inequality through the tax code, you gotta go for it now.

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Erik Voorhees

@ErikVoorhees

Mar 23, 2021

How does inequality get helped by giving money to Washington DC?

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There's some disconnect with the wealth redistribution narrative. Even when the government is directly printing money, it can only manage to get ~25% (being generous) to people who actually need it. Higher taxes just means more graft. No guarantees it makes its way to the people.

12:54 AM · Mar 23, 2021Twitter Web App

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25% accuracy on the wealth giving side, but up to 100% accuracy on the wealth taking side, so up to ~66% efficiency.

Bruce Fenton for US Senate

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Not only that it also harms the people because a bunch of the graft goes to jobs and programs that add bureaucracy or make it harder for employers and employees

₿ | trickiwoo.btc | ₿

@nzlconcerto

Mar 23, 2021

Man, life feels like a constant battle against tyranny from all sides. Before #Bitcoin I despaired that the world was not fair and never would be. That's why I opt for #bitcoin . At least the monetory policy are on an even playing field now. There is hope.

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how does inequality get fixed if not through taxes?

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The naivitae that wealth is just there and needs to be distributed is absurd. Wealth is created, by individuals, often working in specialized groups turning time and energy into value and then allocating it based on their needs/preferences. It's not just snakes and ladders.

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It works in Finland.

Population of US is about 60x Finland so efficiency of redistribution is probably 60x worse.

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