Chapter
Wealth Tax Could Lead to Exodus of the Rich
59:36 - 1:05:13 (05:36)
A wealth tax may lead to a decrease in tax revenue as the rich and their businesses move out of the state to avoid the tax. The younger generation may have forgotten how it feels to lose, leading them to leave the state now to avoid the potential wealth tax in the future.
Clips
The previous generation had more freedom to fail and experience different failure modes growing up, which enabled them to overcome challenges and reach success stories such as Michael Jordan's.
59:36 - 1:00:56 (01:19)
Summary
The previous generation had more freedom to fail and experience different failure modes growing up, which enabled them to overcome challenges and reach success stories such as Michael Jordan's.
ChapterWealth Tax Could Lead to Exodus of the Rich
EpisodeE28: Current state of public & private markets, Archegos debacle, US debt issues, wealth tax & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Our society's definition of winning has become contorted, leading to a lack of understanding of functional winning and losing.
1:00:56 - 1:03:07 (02:11)
Summary
Our society's definition of winning has become contorted, leading to a lack of understanding of functional winning and losing. As a result, people have become soft and are now choosing their own definitions of winning to avoid feeling like losers.
ChapterWealth Tax Could Lead to Exodus of the Rich
EpisodeE28: Current state of public & private markets, Archegos debacle, US debt issues, wealth tax & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The proposed wealth tax bill in California is expected to result in wealthy individuals and businesses leaving the state, resulting in a decrease in tax revenue.
1:03:07 - 1:05:13 (02:05)
Summary
The proposed wealth tax bill in California is expected to result in wealthy individuals and businesses leaving the state, resulting in a decrease in tax revenue. The 10-year look forward provision of the bill may encourage people to leave the state sooner and could potentially cause more harm than good for California's financial situation.