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paulg's profile
Paul Graham
Paul Graham
Paul Graham
Verified account
@paulg

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Paul GrahamVerified account

@paulg

paulgraham.com
Joined August 2010

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    1. Tim O'Reilly‏Verified account @timoreilly 2 Nov 2015

      In his new book, Joseph Stiglitz outlines a sweeping plan to correct economic inequality http://www.theatlantic.com/business/archive/2015/11/stiglitz-heres-how-to-fix-inequality/413761/ … #choices

      10 replies 108 retweets 171 likes
    2. Paul Graham‏Verified account @paulg 2 Nov 2015
      Replying to @timoreilly

      @timoreilly How does he propose to prevent future Larry & Sergeys?

      11 replies 6 retweets 36 likes
    3. Tim O'Reilly‏Verified account @timoreilly 3 Nov 2015
      Replying to @paulg

      @paulg Larrys and Sergeys aren't the problem. That's a facile remark not worthy of you. Read the book, then comment http://rewritetherules.org 

      5 replies 6 retweets 68 likes
      Paul Graham‏Verified account @paulg 3 Nov 2015
      Replying to @timoreilly

      @timoreilly Maybe you can summarize for us. How do you "correct economic inequality" and still allow billionaires?

      7:19 AM - 3 Nov 2015
      • 2 Retweets
      • 20 Likes
      • Scott Cannon Marc Andreessen Bilal Farooqui Emmanuel Amberber Francisco Gutierrez Rick_Mason Wiktor Schmidt Milap Bhojak markhughes
      10 replies 2 retweets 20 likes
        1. New conversation
        2. Tim O'Reilly‏Verified account @timoreilly 6 Nov 2015
          Replying to @paulg

          @paulg You start by getting rid of lower taxes on capital gains. End the carried interest deduction. Stop tying CEO comp to stock price.

          8 replies 9 retweets 25 likes
        3. Paul Graham‏Verified account @paulg 6 Nov 2015
          Replying to @timoreilly

          @timoreilly Changing tax rates might make founders 1/3 poorer, but startups make them 100x richer, so that won't fix inequality.

          5 replies 4 retweets 10 likes
        4. Tim O'Reilly‏Verified account @timoreilly 6 Nov 2015
          Replying to @paulg

          @paulg You're looking at this thru a very narrow filter. Startups aren't the issue. Financialization of the economyhttp://www.tcf.org/blog/detail/graph-how-the-financial-sector-consumed-americas-economic-growth …

          8 replies 6 retweets 26 likes
        5. Paul Graham‏Verified account @paulg 6 Nov 2015
          Replying to @timoreilly

          @timoreilly Maybe. But if you ban hedge funds the people who start them will start startups instead and inequality will be just as bad.

          9 replies 3 retweets 10 likes
        6. Tim O'Reilly‏Verified account @timoreilly 6 Nov 2015
          Replying to @paulg

          @paulg I call b******* on that one, Paul. Do some reading on some other aspects of the economy besides startups

          2 replies 0 retweets 28 likes
        7. Paul Graham‏Verified account @paulg 6 Nov 2015
          Replying to @timoreilly

          @timoreilly I've already seen this "bullshit" happening. YC has funded many refugees from finance as the returns there have decreased.

          3 replies 0 retweets 8 likes
        8. Tim O'Reilly‏Verified account @timoreilly 6 Nov 2015
          Replying to @paulg

          @paulg Yeah, and a lot of the startups are the same extractive game, rather than one creating real wealth.

          3 replies 1 retweet 11 likes
        9. Paul Graham‏Verified account @paulg 6 Nov 2015
          Replying to @timoreilly

          @timoreilly In fact not. But even if they were, they'd prevent fixing inequality, which is my point in this thread.

          2 replies 1 retweet 1 like
        10. 1 more reply
        1. New conversation
        2. Tim O'Reilly‏Verified account @timoreilly 6 Nov 2015
          Replying to @paulg

          @paulg Goal not to stop billionaires. Just, as Warren Buffet noted, to end the practice of him paying a lower tax rate than his secretary.

          1 reply 1 retweet 33 likes
        3. Paul Graham‏Verified account @paulg 6 Nov 2015
          Replying to @timoreilly

          @timoreilly If so it's not going to correct economic inequality. Buffet would still be massively richer if he paid the same tax.

          7 replies 0 retweets 17 likes
        4. Startup L. Jackson‏ @StartupLJackson 6 Nov 2015
          Replying to @paulg

          @paulg @timoreilly I'm not aware of anyone arguing for a gini coefficient of 0. The debate is about whether & how to bring up that bottom.

          4 replies 1 retweet 31 likes
        5. Paul Graham‏Verified account @paulg 7 Nov 2015
          Replying to @StartupLJackson

          @StartupLJackson Sounds great. But fixing poverty is not correcting economic inequality, which is what this plan was advertised as.

          4 replies 3 retweets 19 likes
        6. Paul Graham‏Verified account @paulg 7 Nov 2015
          Replying to @paulg

          @StartupLJackson E.g. there are measures that will fix poverty but make economic inequality worse. They are separate ideas.

          1 reply 10 retweets 26 likes
        7. Paul Graham‏Verified account @paulg 7 Nov 2015
          Replying to @paulg

          @StartupLJackson In fact most technology has had that effect. In Neolithic Europe people were pretty equal, but all poor by our standards.

          5 replies 2 retweets 13 likes
        8. Greg Bildson‏ @gbildson 7 Nov 2015
          Replying to @paulg

          @paulg @StartupLJackson And yet people like Mitt Romney shouldn't have had a 17% tax rate while I had 40%.

          2 replies 0 retweets 5 likes
        9. 2 more replies
        1. New conversation
        2. Antony Courtney‏ @antonycourtney 3 Nov 2015
          Replying to @paulg

          @paulg @timoreilly @StartupLJackson How about: Invest in public education, research and infrastructure (like the Internet)?

          2 replies 0 retweets 2 likes
        3. Paul Graham‏Verified account @paulg 3 Nov 2015
          Replying to @antonycourtney

          @antonycourtney @timoreilly @StartupLJackson Sounds great, but what if that doesn't decrease economic inequality?

          1 reply 0 retweets 0 likes
        4. Antony Courtney‏ @antonycourtney 3 Nov 2015
          Replying to @paulg

          @paulg @timoreilly @StartupLJackson personally I’m far more interested in equality of opportunity than in equality of outcomes.

          2 replies 0 retweets 5 likes
        5. 1 more reply

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