Paul GrahamVerified account

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

@paulg no one proposed banning hedge funds. Just taking away some of the baked in tax advantages that make Financial arbitrage so profitable

@timoreilly I meant ban them making lots of money. If that happens, the people who want to make a lot will find whatever else works.

@paulg No one is even suggesting banning them making lots of money. Red herring after red herring here...

@timoreilly Surely that would be the default assumption about an element of plan for fixing economic inequality.

@paulg @timoreilly You should really try reading the book.

@timbray I will, believe me. But I suspect this is one of those cases where the reason something is hard to explain is that it's nonsense.

@paulg Numbers suggest there's room to significantly attack poverty while inflicting only modest pain on us 1%ers.