Wow, I like to actually see the numbers laid out like this. Most of the ultra-wealthy pay almost nothing on their income taxes from investments because they have found ways to avoid capital gains, and even if they were paying long term capital gains rates of 15%, pg’s assertion that the wealth tax adds another 20% doesn’t seem unreasonable at all. If anything, it makes me think 1% is not nearly enough of a wealth tax!
The only solution is to provide stable long-term housing and social support. Most else has been tried, but it doesn’t seem that you can punish people and make them less poor. Cops continue to sweep through and steal their belongings, but that clearly won’t solve the problem, and hasn’t. You can throw them all in jail, but that’s more expensive than providing non-jailed housing and rehabilitation services. You can forcefully or enticingly move them along with cops or free bus tickets, but that just shifts the problem elsewhere temporarily. As long as we continue to decide to solve this by increasing funds for cops above all other services in a city, this is the result we will get.
It’s not trivial to concoct a short position in TSLA to offset your index holdings.
For one, it has large borrowing costs. You already admit that short sellers haven’t fared well, and shorting over a long time period can be very costly. Concocting a short position to offset one’s long-term index holdings requires being fairly accurate with timing and is very different than just wishing it wasn’t in there because you imagine that eventually the bill on that will come due, even if it’s years down the line.
If I’m wrong, I’d love to see a cheap way to do it over a 5-10 year period.
Xfinity cable modem / router combos will create public Xfinity networks by default for many years now. Absolutely is something Xfinity could be selling access to for other corporations.