43 points JKCalhoun 2 hours ago 86 comments
andsoitis 2 hours ago | parent
When it comes to wealth, the ceiling should be unlimited AND the floor should be high.
Avicebron 2 hours ago | parent
cowlevel 1 hour ago | parent
mejutoco 1 hour ago | parent
cowlevel 54 minutes ago | parent
iamnothere 32 minutes ago | parent
Technically, thanks to thermodynamics, the pie is constantly shrinking. We haven’t dug up or exploited all the useful stuff yet, so from our limited perspective there is still room to grow the pie. But we’re probably getting close to the limit, as the rate of consuming useful stuff is beginning to exceed the rate of digging it up or otherwise capturing it.
andsoitis 1 hour ago | parent
Yes, there's been a fixed amount of money since the beginning of time!
pokstad 40 minutes ago | parent
dragontamer 34 minutes ago | parent
andsoitis 28 minutes ago | parent
what do you mean?
dragontamer 17 minutes ago | parent
So the idea that the wealth is going to workers (and using Mark Zuckerberg as an example) is extremely contrary to the facts on the ground and the cited reality.
anon291 36 minutes ago | parent
Unlike central bank printing or even loan creation, this method of wealth creation is not zero-sum and not inflationary.
amanaplanacanal 12 minutes ago | parent
andsoitis 1 hour ago | parent
have you thought through how you would even operationalize a ceiling on the amount of wealth that someone might control or have?
even a rough heuristic from you would be interesting to consider.
fyredge 51 minutes ago | parent
actionfromafar 42 minutes ago | parent
atq2119 40 minutes ago | parent
There are only two operational challenges, but if the political will is there, they really aren't rocket science. One is having enough auditors to enforce the tax. The second is liquidity, which can be solved by allowing the tax to be paid in kind, i.e. by allowing it to be paid by transferring ownership to a social wealth fund instead of cash.
andsoitis 31 minutes ago | parent
So you would take that wealth away from productive application?
testing22321 15 minutes ago | parent
Building high speed rail, hospitals and schools. Paying teachers more, universal healthcare, better roads and airports and less free pipes.
Those are all fantastic things that benefit everyone while also creating jobs and spreading the wealth around.
Even Bill Gates has said his taxes should be higher [1]
https://www.investopedia.com/news/bill-gates-says-he-should-...
amanaplanacanal 15 minutes ago | parent
lovich 30 minutes ago | parent
Closing up loopholes on realizing wealth like by taking loans continuously using your unsold stocks as collateral.
We don't even have to immediately jump to more extreme ideas like a straight wealth tax. We could try doing _anything_ instead of just shrugging our shoulders as we watch people like Musk and other oligarchs take us down the path Russia went in the 90s.
cyanydeez 1 hour ago | parent
I mean, we can put you in the matrix and you can have that be true if you care zero about the rest of reality. Cypher.
also, social economics has demonstrated what most people care about is their wealth relative to their neighbors so you're going to create poverty whether you like it or not if there's no ceiling.
spwa4 53 minutes ago | parent
That's just not accurate. What people care most about is not losing what they already have. That will cause extreme reactions.
andsoitis 26 minutes ago | parent
wat10000 51 minutes ago | parent
The problem with inequality isn't just that extremely wealthy people exist or that they live really comfortable lives. It's that they use their power to try to control us all. If Elon Musk was just a trillionaire who messed around with cars and rockets and women, there wouldn't be a problem. But he got into politics, and his wealth means his political opinions count for far more than yours or mine, and that is a serious problem. You or I can't destroy a federal agency we don't like or make major foreign policy decisions as a private citizen, but he can.
cowlevel 44 minutes ago | parent
dietr1ch 50 minutes ago | parent
If you have a gap of over 10,000x, then the most likely cause is that the system is broken rather than some humans make the world way better than other ones.
anon291 37 minutes ago | parent
asxndu 35 minutes ago | parent
asib 30 minutes ago | parent
JKCalhoun 24 minutes ago | parent
dietr1ch 8 minutes ago | parent
sethops1 36 minutes ago | parent
andsoitis 19 minutes ago | parent
andsoitis 28 minutes ago | parent
sigmarule 39 minutes ago | parent
ashkankiani 35 minutes ago | parent
I'm asking seriously. I've done this exercise for myself on what I want for my life, and the answer is that I can already afford it, and if we weren't so wasteful with our surplus of food, weren't so corrupted by regulatory capture as to allow companies to charge whatever for essentials, then most people would probably be able to achieve that same level of comfort.
What is it that you or anyone else needs an infinite amount of wealth for?
andsoitis 33 minutes ago | parent
You allocate it to productive means, you don't consume it.
ashkankiani 28 minutes ago | parent
Do you see billionaires doing that right now? Are they the most efficient resource allocators? Is the $250 million that Elon is spending to influence the election the best use of that $250 million that he could've achieved?
I would like some more serious answers from you, otherwise don't bother allocating your effort to responding. I'm sure you, as an excellent allocator, will come to the same conclusion.
silverFork 7 minutes ago | parent
The zillionaires buy thinktanks to push their agenda by claiming this nonsense. Infinite wealth = erosion of democracy when few people try to change the world to their liking.
andsoitis 6 minutes ago | parent
Who do you think got that $100m spend? Didn't it go to all the service providers? The caterers, the organizations, the people who worked the function, hotels, food distributors, the musicians, the travel agencies, etc.?
deadbabe 27 minutes ago | parent
If you want to ensure you have maximum power and control over others, there is likely no limit to the wealth you will be satisfied with.
Imagine for instance if you were a massive deca-billionaire, you could just pick a random person off the street and make them a multi-millionaire with the same ease that someone fills up their gas tank. In a society where money runs through everything, this is a god like power.
coldtea 1 minute ago | parent
Unlimited wealth means political power and means to further it.
The floor should also be comfortably high but not to the detriment of the environment for example.
elmer2 2 hours ago | parent
We should have plenty of money to pay for services, but government officials are never held accountable when they piss it away on inefficient programs and sevices.
Healthcare.gov cost a billion dollars. I've managed projects much bigger and more complex for a fraction of this. Nobody in the tech community talks about this for some reason....
The blame is always shifted to the wealthy by these politicians. It still won't fix the problem, if we don't have a better way to spend it.
kraken_cult 2 hours ago | parent
The wealthy and the politicians are complicit in this. Take healthcare, wealthy insurance middlemen lobby to cripple any form of public healthcare initiative, politicians go along for some scraps and because their healthcare isn't affected. Suddenly, healthcare.gov is unaffordable and doesn't provide quality service even at unaffordable prices, no one is better off except for private insurers and politicians. Bring in the damn guillotines.
estearum 1 hour ago | parent
Completely hilarious argument because the more asymmetrically wealthy the richest get, the larger proportion of taxes they’ll pay. Then they’ll whine some more about paying such a huge portion of taxes.
Anyway, the US government is designed to be inefficient. It is a purposeful safeguard against autocracy and more pedestrian corruption. It will not be as efficient as private enterprise because private enterprise doesn’t need to be accountable to everyone.
Surely government services can and should be more efficient than they are today, but “I’ve managed things more complex than healthcare.gov” is only true in a world of frictionless spherical cows and a bureaucracy-free government of 380 million people — that is to say: not reality.
dnautics 30 minutes ago | parent
I get how inefficiency is a safeguard against autocracy. But how is it a safeguard against pedestrian corruption? Seems like inefficiency is a perfect cover to spin up a 501(c)3, bid on some social contracts and underdeliver. In our city, an audit was performed and homeless services contracts underdelivered by at least 60%. There's good evidence that medicare fraud nationwide is rampant.
How do you combat a culture where people can scam the government under the cover of inefficiency?
estearum 20 minutes ago | parent
When a business finds a vendor they’re happy with and trust, they just keep going with that vendor.
For a government official, “vendor I’m happy with and trust” can be either an excellent, efficient vendor — or the official’s cousin. So we require bidding processes for almost everything. This process is a cost, risk, and delay that gets baked into the “cost of doing [government]” at every level. And yeah, it does open up new avenues of corruption and maladaptation (for example vendors getting better at navigating the bidding processes than they are at delivering outcomes), but that’s the tradeoff that we (and most democratic) governments make.
Medicare fraud is often portrayed as beneficiaries defrauding the government. In reality nearly all of it is committed by healthcare organizations, and the vast majority of it is committed by the mega pay-viders like UnitedHealthGroup.
That has nothing to do with bureaucracy and everything to do with private money in politics.
aliasxneo 53 minutes ago | parent
hdgvhicv 46 minutes ago | parent
dev1ycan 40 minutes ago | parent
https://www.marketplace.org/story/2025/09/17/top-10-of-earne...
This is the root cause as to why fast food and other companies do not care to keep raising prices, and why fundamentally, even things that "rich people" can enjoy are getting worse, be it media or video games or anything else.
A destruction of the middle class results in a worse society for all, not just the people that earn less, that's not a hard concept to grasp but whatever... I don't think many people will want to change their ways until it is too late.
wat10000 38 minutes ago | parent
The top 1% (which includes a lot of people we'd consider to be merely quite well off rather than wealthy) paid 23.9% of all taxes and 25.5% of federal taxes in 2024. That's while making 20.1% of all income, so it's not a massively unfair burden on them.
https://itep.org/who-pays-taxes-in-america-in-2024/
Even if you only look at federal income tax, which is more progressive than other American taxes and thus exaggerates how much the wealthy pay, the top 1% pays 40.4% of the taxes.
https://taxfoundation.org/data/all/federal/latest-federal-in...
Healthcare.gov was widely discussed in the tech community at the time. People were constantly incredulous at how bad it was and how much it cost. Maybe you forgot, or weren't there, or expect people to still be talking about it over a decade later.
In any case, that's not where the money goes. That kind of waste is almost incomprehensibly large to an individual, but it's insignificant in the federal budget. Social Security was $1.6 trillion last year. Medicare was another trillion, Medicaid was two thirds of a trillion. Nearly all of that spending is paid out to recipients/providers. Overhead is low single-digit percentages of the total. Defense is another trillion. Interest on the debt is another trillion. You could wave a magic wand and make every single project similar to Healthcare.gov free and it wouldn't make a noticeable difference in federal spending.
ashkankiani 30 minutes ago | parent
Why exactly do you feel the need to defend the right to hoard money? What does that extra money do? Buy you a yacht? Buy you a media empire to control propaganda? Buy you a private island for your wealthy friends to "party" on? A measuring stick to satisfy your own incomplete metric of self worth?
What exactly do you need all that money for?
dnautics 29 minutes ago | parent
schneems 29 minutes ago | parent
America has some of the lowest tax rates for the ultra wealthy. And since I can tell you're in the "temporarily embarrassed billionaire" mindset. The delta between you and "them" is not even close. Even with a tech job even with options and bonuses. 50 million dollars a year is a nearly absurd amount of money.
I support Elizabeth Warren's "2 cent" tax on income above 50 million dollars.
> if we don't have a better way to spend it.
I agree that DOGE was disastrous and ended up costing us money. A pound foolish and a penny wise is not the way to run the government.
JKCalhoun 15 minutes ago | parent
In a progressive tax system that's the way it is supposed to work. People pay what they can afford to is kind of the point.
Anything less than a progressive tax system means the poor pay more and the rich pay less. Is that what we're advocating for?
megamike 1 hour ago | parent
iugtmkbdfil834 34 minutes ago | parent
But yeah.. hard work is not rewarded. The funny thing is. The kids see it. They are not dumb ( as much as TikTok trends would suggest otherwise ). The ronin-like approach to working relationship is very visible now and, as a corporate drone, I can't help but be impressed given the near constant propaganda onslaught.
urbsgpw 32 minutes ago | parent
sixdimensional 29 minutes ago | parent
In fact, if we were to look at the abandoned as an economy of its own, minus the upper income levels, it actually still has a lot of members, and money is a part but does not have to be all of it.
The quiet group to which I refer is a group of people who believe in working together to support each other, and not making a big noise about it. We are finding ways to live working around the current system, and I do think it is gaining support. It takes a mix of support, room/space to experiment and a spirit of partnership first over domination.
FWIW, I'm not anti-capitalist. But I am pro-good life for everyone, and I think the extremes, market failures and inequalities of our current system - well - we can do better.
karmakurtisaani 17 minutes ago | parent
You cannot morally impose the wealthy to support the rest. It has to come through legislation and organization of labor.
jongjong 47 minutes ago | parent
On the other side, literally all the emails I receive, all my social network connections are spam. Like completely irrelevant, generic spam sent by a bot, but not even tailored to me; just generic template 'Dear sir'; my name is not even mentioned.
shearerp 44 minutes ago | parent
jongjong 36 minutes ago | parent
If none of the communication mechanisms work for you, how can you set up a meeting with an investor to raise money, for example? These people don't like cold intros and security risks means that they are harder to meet in person than ever before. It's also harder to network your way to a warm introduction because most of the people who know investors are themselves wealthy and also don't want to talk to you for safety risks reasons.
For me, things look completely different now than they did 5 years ago; it's like I have been shadow-banned from the entire internet and society.
I can't do anything in this society. My skills are mis-allocated, my time wasted. I'm just waiting for retirement. It's horrible. And I'm extremely ambitious; worked nights and weekends for 15 years straight.
wat10000 35 minutes ago | parent
jongjong 29 minutes ago | parent
The people who hoard ALL the opportunities are incapable of allocating them efficiently due to complete saturation of their bandwidth. Literally, if you are someone who are in a position to provide opportunities, you are saturated and unreachable.
These people turn down more life-changing opportunities in an hour than I get in a lifetime. And when I say 'turn down', I mean 'ignore'; because these people don't even have the time to say 'No' to an opportunity I would kill for! They don't even have the time to click on the email or perhaps even read the subject line!
pessimizer 37 minutes ago | parent
Trump, Trump, Trump. Vote him out and we'll make sure that ACA continues, the Iran "conflict" is fought responsibly, and free trade will never be questioned again. This will somehow help income inequality in ways that I'm not going to tell you.
edit: and I'll add a reminder here that no one ever projected that ACA would lower healthcare costs - only that it would slow the growth in healthcare costs, which it managed to do for maybe three years. The purpose of ACA was to get single-payer people to shut up, and to institutionalize a bunch of insurance companies by promising them a consistent income.
Another reminder that "The Conversation" is a website of completely shady origins and financing that was pushed into the conversation out of nowhere. It licenses all of its articles creative commons so they can be mirrored on multiple websites, and relies on being pushed by social media. They're written by no one with any reputation to protect. It's Radio Free Europe level propaganda, but without honestly announcing itself and with no loyalty to any particular country.
https://en.wikipedia.org/wiki/The_Conversation_(website)
Last reminder, Sunday is when political propaganda articles get pushed on HN, because it is a low-traffic day. There is not a single interesting thing in this article; there is nothing "you might not expect" except the brazenness in trying to assign 50 years of neoliberalism to Trump in the end.
dnautics 35 minutes ago | parent
Partisan divide on the causes of inequality masks the true reason for widening inequality, and it's a simple matter of math. It's so goddamn simple, but fixing it is REALLY overturning the economy, so the socialists don't want it, and the rich people don't want it either.
A_D_E_P_T 28 minutes ago | parent
The way I see it: Health insurance is actually getting more expensive. Tariffs are making imports more expensive. (Which also makes domestic production more expensive.) The Iran "conflict" was retarded. TFA wasn't really wrong about that stuff. It's obvious.
Edited to add: You edited your post after I published my response. My original comment, which is that you weren't making much sense, is rescinded. Only now what you've written amounts to: "it's not Trump's fault and the outlet is crooked!" which is really just lol. lmao even.
dnautics 18 minutes ago | parent
A_D_E_P_T 10 minutes ago | parent
> people will simply buy less cheap 差不多 shit from china that goes straight to landfills because it doesn't work or doesn't last.
This take is out of date by about 15 years, I think.
throw0101a 33 minutes ago | parent
Interview on Bloomberg's Odd Lots:
> In 2014, the economists Owen Zidar and Eric Zwick were asked by the Treasury to conduct a study on the tax burden of private business owners. It was tricky to figure out how much these sorts of business owners — auto dealers, contractors, the like — actually owed in taxes: After Reagan's 1986 tax reforms, pass-through businesses and other accounting tricks became widespread enough to obscure this class of wealthy Americans hiding in plain sight. The research they conducted led to their new book The Everywhere Millionaire: Who Is Really Rich in America and How They Got There, and one of their central findings is that there are about three million private business owners who have an average wealth of around $25 million. They call this group “Main Street Millionaires” and their influence on the economy and politics in the US is considerable. We speak with Zidar and Zwick today about how they measured the actual number of rich people in America by sifting through reams of tax forms, why income inequality started to rise in tandem with the growing number of pass-through businesses, and how it's possible that the collective revenue of the nation's dentists far exceeds that of the NFL.
* https://www.youtube.com/watch?v=dh7A2VyveUw
* https://podcasts.apple.com/us/podcast/theres-a-mind-boggling...
* https://omny.fm/shows/odd-lots/theres-a-mind-boggling-number...
* https://open.spotify.com/episode/3wFRjaeUQOiNmlYYTwhwRf
(Lots of other interviews as well as the book just came out a few months ago, so the authors did a book tour.)
Some take aways from the books:
> According to Zidar and Zwick, Main Street Millionaires hold over 13x more wealth than the Forbes 400. And where do they hold it? In pass-through entities (like LLCs and S-corps) in various industries. Which industries in particular? Zidar and Zwick note that the top five are:
> 1. Legal services. This is mostly law firm partnerships.*
> 2. Financial investment activities. This includes venture capital, private equity, and hedge fund managers.
> 3. Auto dealers. These are the local, independently owned dealerships that sell new and used cars.
> 4. Professional and technical services and management consulting. This includes independent consulting firms and other specialized professional practices.
> 5. Oil and gas extraction. This includes fracking companies in North Dakota, Pennsylvania, and other states.
* https://ofdollarsanddata.com/who-is-really-rich-in-america/
An interesting observation: a radiologist working at a hospital may make much less if they're an employee of the hospital, versus something like a 'consultant' who use an pass-through S-Corp at the same hospital doing the same work.
amanaplanacanal 8 minutes ago | parent
somelamer567 30 minutes ago | parent
The rich have greedily and selfishly opted out, and left a massive moral vacuum.
They must be held accountable. And the only way to hold the rich and powerful accountable is to stop them from corrupting the political process. Ban lobbying, undisclosed political donations and concentrations of private media ownership, and society will recover.