What really pisses me off about these jerks is that the conditions that enabled them to acquire their obscene wealth - a stable (relatively) society, regulated and safe markets, an educated workforce, a national infrastructure that supports trade and supply chains, a military that for 80 years has ensured freedom of the seas and global trade - are all due to the US government and funded by US taxpayers. And then, when they are asked to step up and give, relatively speaking, a bit more back, they act like it's theft.
I read something 15-20 years ago as I was beginning my political transformation from a "center right" conservative to a leftist/socialist. Essentially it turned on its head the often heard idea that the poor person who needs to use government programs is the one who is getting something or taking advantage of the government. At best that person is getting scraps (and even less than that nowadays) while the jerks you describe are making vast fortunes entirely based on all the government/taxpayer funded activity you describe above (I'd also add enforcement of IP laws etc.) They are the ones truly making out like a bandit so to speak
The hedonic failure breaks them, like a rat in a Skinner box frantically pressing a lever for a drip of cocaine.
There are a number of studies that point to a level of wealth at which the emotional reward for greater wealth drops off sharply. It has been put at around $100,000, but I'm sure that varies depending on where someone lives and social expectations. Still, there is a point where the dopamine bump no longer keeps up with the numbers.
There was a survey of rich people where they asked the basic question, "How much money would be enough?" The rich people responded consistently with a number that was double their present net worth, no matter whether they had $5 million or $50 million or $500 million.
Millionaires go from having $100 million to $150 million and it barely moves the needle. It's like me finding a dime on the ground. Their response is the only response they know - make more. It doesn't work, so they enter a pointless addictive feedback loop.
Threatening to reduce their wealth panics them, because "number go up" is their only measure of personal progress. This, even though it stopped working many millions of dollars ago. Because it stopped working.
Thanks, Hamilton. This is spot on. I'm gonna save it. I would suggest the rich person's tax be placed on annual incomes of 10 million. 10 million is more money than the vast majority of people make in their entire lives, even if they are employed over 60 years. And all of the points you make about what a billionaire can do, live wherever they want, do whatever they want, etc., applies equally to those who earn a mere 10 mil a year.
Thinking more about this. I was proposing an additional tax on annual incomes of 10 million. But the proposed billionaire tax is on assets amounting to that. It would be reasonable to impose a one-time tax of 5% on all those with assets of 10 million. That would leave you with 9 million, 500 thousand, which as Hamilton noted, most if not all would be soon recouped though investments. This should be discussed more publicly. It would be interesting to hear rich folks scramble to try and defend their ill-gotten gains.
So the thing is billionaires (or their employees) do all this clever stuff to make their income not be taxed as income. That's why a wealth tax is the way to go if you really want to get at them. If it was just income tax you'd suddenly find a lot of billionaires with incomes of zero, but lots of capital gains, carried interest, weird loans to themselves etc
1. “This is the most grandiose possible example of someone Missing the Point of Life.” Spot fucking on.
2 “These California billionaires, these kings on earth, these people who could live perfect lives while also doing great acts of charity, end up as bitter, angry Gollums…” I see what you did there. Brilliant.
You've grasped the core points. One is a precise satire of the meaning of life, the other a sober insight into power and emptiness; the satire is not harsh, but thought-provoking. Truly brilliant.
This is great - I've had half-baked thoughts that a great fortune and guns both exert an baleful "One Ring" sort of influence on people. Elon is basically Smeagol - you might feel a little sorry for how grotesque and pitiable he's become, but no one sheds a tear when he's tossed into the lava...
This metaphor is vivid and highlights the corrupting influence of power and wealth on human nature. While it's important to maintain some sympathy for individual moral decline, remaining clear-headed and vigilant about systemic lapses in control is perhaps a more crucial stance.
"Fear not, plutocrats. You can escape your curse at any time, by giving it all away."
That's a quote worthy of Chesterton.
"The poor have sometimes objected to being governed badly; the rich have always objected to being governed at all." - G.K. Chesterton, from "The Man Who Was Thursday"
If I was a billionaire, which I'm definitely not, I would choose to live exactly where I live now. Which makes me a very lucky person, even though the region has always been economically depressed.
Community contributes so much to a rich and enjoyable life. Why not just decide where you want to live and pay our taxes accordingly? And, if these billionaires are lucky, maybe they'll even discover the many joys of a caring community.
I say we get on our knees and let these diseased sociopaths destroy, via carbon, any chance our kids might have for a decent life. Anything else would be incivility!
I can hear the sarcasm and anger in your voice; it's essentially a concern about climate change and the future of next generation. Perhaps instead of pitting each other against one another, we should steer the discussion back to how to truly take responsibility and reduce harm.
Oliver Burkeman writes in 4000 Weeks about the subconscious psychological games we play -- even at the expense of our own life satisfaction -- to avoid facing the harsh reality of our mortality.
I've noticed this in Retirement land: you spend your whole adult life trying to fill your basin (with dollars), and you begin to equate the amount in the basin with more security, safety, freedom, options, whatever. This can continue well past the point where more money is providing any additional value, past the point where more will ever even be able to be spent. But when you eventually decide to pull the stopper from the basin (start spending it down), the psychological shock of seeing the number decrease -- even if it won't get anywhere near empty by the time you die -- is so traumatic, some people seem willing to do anything to avoid it. It feels like they just turned over the hourglass to their demise.
Of course, the hourglass has been running all along...
That's nothing, it's almost an insult, after all the money he spent trying to stop Zohran from becoming Mayor. It's like us putting our loose change in the Salvation Army bucket. Maybe he's feeling the pinch.
But don't we realize, these rich people have PRINCIPALS! Number one is: "No one tells ME what to do with MY money!" From there they proceed to act like the complete assholes they are. The rest of us don't have much choice, mainly we pay bills to the companies they own.
What really pisses me off about these jerks is that the conditions that enabled them to acquire their obscene wealth - a stable (relatively) society, regulated and safe markets, an educated workforce, a national infrastructure that supports trade and supply chains, a military that for 80 years has ensured freedom of the seas and global trade - are all due to the US government and funded by US taxpayers. And then, when they are asked to step up and give, relatively speaking, a bit more back, they act like it's theft.
I read something 15-20 years ago as I was beginning my political transformation from a "center right" conservative to a leftist/socialist. Essentially it turned on its head the often heard idea that the poor person who needs to use government programs is the one who is getting something or taking advantage of the government. At best that person is getting scraps (and even less than that nowadays) while the jerks you describe are making vast fortunes entirely based on all the government/taxpayer funded activity you describe above (I'd also add enforcement of IP laws etc.) They are the ones truly making out like a bandit so to speak
The hedonic failure breaks them, like a rat in a Skinner box frantically pressing a lever for a drip of cocaine.
There are a number of studies that point to a level of wealth at which the emotional reward for greater wealth drops off sharply. It has been put at around $100,000, but I'm sure that varies depending on where someone lives and social expectations. Still, there is a point where the dopamine bump no longer keeps up with the numbers.
There was a survey of rich people where they asked the basic question, "How much money would be enough?" The rich people responded consistently with a number that was double their present net worth, no matter whether they had $5 million or $50 million or $500 million.
Millionaires go from having $100 million to $150 million and it barely moves the needle. It's like me finding a dime on the ground. Their response is the only response they know - make more. It doesn't work, so they enter a pointless addictive feedback loop.
Threatening to reduce their wealth panics them, because "number go up" is their only measure of personal progress. This, even though it stopped working many millions of dollars ago. Because it stopped working.
adding another zero to the end of a string of zeros fails to inspire.
When I can't enjoy drinking with my peeps while sailing between the islands of my own personal archipelago, take me out behind the barn and shoot me.
The billionaires would rather bring about a climate apocalypse and be sealed in a bunker rather than consider having less.
They're so delusional they think they'll be on Mars lol
They watch the movie “2012” and think, “Yessssssssss, this is the world we need to bring about ASAP”
Thanks, Hamilton. This is spot on. I'm gonna save it. I would suggest the rich person's tax be placed on annual incomes of 10 million. 10 million is more money than the vast majority of people make in their entire lives, even if they are employed over 60 years. And all of the points you make about what a billionaire can do, live wherever they want, do whatever they want, etc., applies equally to those who earn a mere 10 mil a year.
Thinking more about this. I was proposing an additional tax on annual incomes of 10 million. But the proposed billionaire tax is on assets amounting to that. It would be reasonable to impose a one-time tax of 5% on all those with assets of 10 million. That would leave you with 9 million, 500 thousand, which as Hamilton noted, most if not all would be soon recouped though investments. This should be discussed more publicly. It would be interesting to hear rich folks scramble to try and defend their ill-gotten gains.
So the thing is billionaires (or their employees) do all this clever stuff to make their income not be taxed as income. That's why a wealth tax is the way to go if you really want to get at them. If it was just income tax you'd suddenly find a lot of billionaires with incomes of zero, but lots of capital gains, carried interest, weird loans to themselves etc
The sucking up to Trump is what amazes me. As Jemele Hill said "what's the point of having 'fuck you' money, if you never say 'fuck you'?
Two things:
1. “This is the most grandiose possible example of someone Missing the Point of Life.” Spot fucking on.
2 “These California billionaires, these kings on earth, these people who could live perfect lives while also doing great acts of charity, end up as bitter, angry Gollums…” I see what you did there. Brilliant.
You've grasped the core points. One is a precise satire of the meaning of life, the other a sober insight into power and emptiness; the satire is not harsh, but thought-provoking. Truly brilliant.
This is great - I've had half-baked thoughts that a great fortune and guns both exert an baleful "One Ring" sort of influence on people. Elon is basically Smeagol - you might feel a little sorry for how grotesque and pitiable he's become, but no one sheds a tear when he's tossed into the lava...
This metaphor is vivid and highlights the corrupting influence of power and wealth on human nature. While it's important to maintain some sympathy for individual moral decline, remaining clear-headed and vigilant about systemic lapses in control is perhaps a more crucial stance.
Sometimes you really hit the proverbial nail on the head Hamilton!
Excellent, as always.
"Fear not, plutocrats. You can escape your curse at any time, by giving it all away."
That's a quote worthy of Chesterton.
"The poor have sometimes objected to being governed badly; the rich have always objected to being governed at all." - G.K. Chesterton, from "The Man Who Was Thursday"
If I was a billionaire, which I'm definitely not, I would choose to live exactly where I live now. Which makes me a very lucky person, even though the region has always been economically depressed.
Community contributes so much to a rich and enjoyable life. Why not just decide where you want to live and pay our taxes accordingly? And, if these billionaires are lucky, maybe they'll even discover the many joys of a caring community.
Wonderful! Shared to notes.
scrooge mcduck vibes for real
I say we get on our knees and let these diseased sociopaths destroy, via carbon, any chance our kids might have for a decent life. Anything else would be incivility!
I can hear the sarcasm and anger in your voice; it's essentially a concern about climate change and the future of next generation. Perhaps instead of pitting each other against one another, we should steer the discussion back to how to truly take responsibility and reduce harm.
Oliver Burkeman writes in 4000 Weeks about the subconscious psychological games we play -- even at the expense of our own life satisfaction -- to avoid facing the harsh reality of our mortality.
I've noticed this in Retirement land: you spend your whole adult life trying to fill your basin (with dollars), and you begin to equate the amount in the basin with more security, safety, freedom, options, whatever. This can continue well past the point where more money is providing any additional value, past the point where more will ever even be able to be spent. But when you eventually decide to pull the stopper from the basin (start spending it down), the psychological shock of seeing the number decrease -- even if it won't get anywhere near empty by the time you die -- is so traumatic, some people seem willing to do anything to avoid it. It feels like they just turned over the hourglass to their demise.
Of course, the hourglass has been running all along...
It never ceases to amaze me how many creative metaphors you come up with to make fun of the ultra rich. I hope you never stop.
enjoyed this! did you see that Bill Ackman donated $10K to Jonathan Ross’ GTFO fund after he killed Renee Good? these craven reactionary losers….
At least it’s the most worthy charity.
Of course he did...🙄
That's nothing, it's almost an insult, after all the money he spent trying to stop Zohran from becoming Mayor. It's like us putting our loose change in the Salvation Army bucket. Maybe he's feeling the pinch.
But don't we realize, these rich people have PRINCIPALS! Number one is: "No one tells ME what to do with MY money!" From there they proceed to act like the complete assholes they are. The rest of us don't have much choice, mainly we pay bills to the companies they own.