Tax Policy & Budget - California is considering taxing billionaires to improve the budget [1] - Multiple wealth tax proposals could appear on the California ballot in 2026 [1]

Proposed Legislation: The Robin Hood Act - The Robin Hood Act aims to impose a 20% tax on loans and lines of credit backed by capital assets like stock shares and real estate for wealthy Americans [1] - The bill targets individuals with income between $400,000 and $450,000 who take out loans against their stock holdings, although the primary focus is on billionaires [5] Rationale for the Bill - The bill addresses wealth inequality by targeting the practice of borrowing against assets to avoid paying taxes, a strategy used by some of the wealthiest individuals [2][3][8] - Current tax system allows some billionaires to have very low effective tax rates (e.g., Jeff Bezos at 1%, Elon Musk at 3%) by borrowing against their stock [3] - Existing methods of taxing wealth, such as marginal tax rates, wealth taxes, or taxing unrealized gains, are considered complicated and difficult to implement [4] Potential Impact and Revenue - Projected revenue from the bill is estimated to be close to $300 billion over 10 years [9] - The revenue could be used to fund universal child care, universal pre-kindergarten for four-year-olds, and expanded child tax credits [10] Concerns and Considerations - Concerns exist that the bill could stifle growth and innovation for entrepreneurs who have their money tied up in new private companies [7] - There are concerns about the impact on doctors, lawyers, and small business owners who borrow against their stock holdings [5] - Margin loans used to buy stock are exempted from the tax [6] - A city tax is not supported because it may push more people out and generate less revenue [11][12]

Group 1 - Bitcoin offers strong security features but lacks privacy, making it vulnerable to political scrutiny and potential wealth grabs [1][4][7] - Zcash provides enhanced privacy features that could protect investors from future political and economic pressures [1][9] - The U.S. Treasury's tracking of digital currency wallet addresses linked to sanctioned actors raises concerns about the fungibility of Bitcoin and the potential for asset seizure [6][8] Group 2 - The evolving political climate around economic inequality may lead to increased scrutiny and taxation of visible crypto wealth, impacting long-term investors [2][7] - While outright expropriation of Bitcoin wealth is not current U.S. policy, the likelihood of tighter regulations and higher taxes is increasing [8] - Bitcoin is seen as a significant store of wealth, which may attract government interest for taxation or other financial measures [9]

Uh you can see it's getting worse uh for Airbus sharers. Reuters is reporting that the aerospace giant has discovered an industrial quality issue regarding uh dozens of A320 planes. The flaw is said to affect the aircraft's fuselage panels and is delaying some deliveries.The report says there are no immediate indications uh it has reached aircraft in service. That's is that a separate issue from what we were we were just talking about with the abrupt loss of altitude because of solar radiation. This doesn't ...

Core Insights - Ray Dalio, founder of Bridgewater Associates, asserts that markets are currently in a bubble, primarily driven by speculative investments in AI companies like Nvidia Corp [1][2] - Dalio's bubble indicator suggests that markets are "about 80% into a bubble," comparable to levels seen during the 1929 crash and the 2000 dot-com bubble [2] Market Dynamics - Bubbles do not burst due to poor long-term company prospects but rather due to sudden systemic cash needs [3] - Investors may need to sell assets to obtain cash for expenses or obligations, leading to a liquidity crisis [3] Potential Catalysts - Traditional triggers for bubble bursts include monetary policy tightening, but wealth taxes could also serve as a catalyst by forcing asset sales among concentrated holders [4] - Such taxes could create liquidity crises that deflate valuations irrespective of the underlying fundamentals [4] Investor Behavior - Dalio differentiates between "strong hands" and "weak hands," which could influence survival during market corrections [5][6] - "Weak hands" refer to retail investors or leveraged individuals who invest heavily in concentrated positions during bullish trends, increasing the risk of forced selling [6] Wealth Concentration - The current bubble is characterized by extreme wealth concentration among a small percentage of the economy and American population, often held in leveraged positions [7] - This concentration heightens market vulnerability to catalysts that could trigger simultaneous selling [7]

The UK already has a very progressive income tax system, which is squeezing the top earners increasingly aggressively. If more tax can't be raised from that direction, how about increasing wealth taxes? It's harder than it looks. https://t.co/1cHSpWlKXH ...

With UK public finances under pressure, Chancellor Rachel Reeves is set to favour tax rises over spending cuts, a move that could have lasting effects on investment, growth, and talent in the tech industry. The most discussed rumour is the introduction of a wealth tax. Although popular among some MPs, there is no consolidated Labour plan for its implementation. From an economic perspective, this could be counterproductive. It risks discouraging saving and capital accumulation, both crucial for tech founde ...

It may get a lot more expensive to be a billionaire in California.A ballot initiative would take aim at the Golden State’s richest residents with a one-time, 5% tax on net worth over $1 billion. But it faces opposition from Gov. Gavin Newsom. https://t.co/0ycIOXBDBL ...

Politics & Policy - Discussion on why the Democrats lost tech support [1] - Examination of federal wealth tax, wealth disparity, billionaires, and the government's role in the free market [1] - Analysis of government efficiency, including Democratic perspectives on debt and plans to control spending [1] - Debate on the costly role of democratic identity politics and navigating a primary with moderate views [1] - Critique of Trump's border policies and Biden's handling of immigration [1] - Observations on working within the Biden Administration, including gatekeepers and concerns about cognitive decline [1] Technology & Innovation - Thoughts on potentially moving NASA under the Department of Transportation [1] - Exploration of AI, self-driving technology, automation, and the potential for job loss [1] Future Outlook - Speculation about a potential 2028 presidential run [1]

France’s government remains opposed to a wealth tax put forward by the left even as Socialists maintain their threat to topple Lecornu if there is no significant increase in levies on the rich https://t.co/F2mTmMNy8F ...