Mood. #fifa #trump #worldcup

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This article has been printed in my online magazine.

Nostr, Curated Thoughtfully

Central Planning is a Problem for Charities

Why concentrated wealth is so terribly difficult to spend, even if you donate it.

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The wealth taxes people are suggesting wouldn't stop wealth inequality, even if they were efficient. They would barely slow it down. If you actually made them so high, as to be effective, you would risk tipping over into deflation and causing a sovereign wealth crisis. And there is nothing to stop the government from using the new tax income for more give-aways to the rich. For instance, they could hit Elon with a 6% wealth tax. His wealth would still grow much faster than the economy. And they can then give his companies environmental subsidies, NASA projects with inflated prices, AI innovation grants, Department of Defense work, free land for data centers, etc. Or they could rent the data his apps collect, and use that to track everyone. That's one way how he got so rich, in the first place: carbon credits for Teslas. **People are right to think that wealth inequality at these levels are a scourge on humanity and a gross injustice, and they are right to be angry about it. We should all be angry about it.** But they are wrong to think that they can solve the problem of wealth inequality with politics, as the government is what made these people so rich, and these people now effectively own the government. These measures can only offer a temporary reprieve and assuage the righteous anger for a bit, which is better than nothing, but they do not solve the underlying problem of the government being way too big and printing way too much money. We have to fix the money, to fix the world.