Chamath Palihapitiya

And I didn't appreciate how much and how expensive childcare has actually become from anywhere between $1,000 to $3,000 per month, which is obviously a lot of money.

The other thing is that his original article was claiming that if you're above 33K but under 65K, you're actually better off staying at 33.

The other thing is that his original article was claiming that if you're above 33K but under 65K, you're actually better off staying at 33.

Because every time you go up, you actually lose a benefit.

Because every time you go up, you actually lose a benefit.

So the net effect is that you are becoming poorer.

So the net effect is that you are becoming poorer.

And it turns out that that math was actually false.

And it turns out that that math was actually false.

When you calculate the net resources, meaning income plus benefits minus taxes and expenses, a family...

When you calculate the net resources, meaning income plus benefits minus taxes and expenses, a family...

actually, as they step up the staircase, does earn more in disposable resources than a family that's earning less.

actually, as they step up the staircase, does earn more in disposable resources than a family that's earning less.

There is a very specific part of what he said, which I think we should focus on, which is there is an area between $45,000 a year and $63,000 a year, which actually looks like a bit of a stagnation zone.

There is a very specific part of what he said, which I think we should focus on, which is there is an area between $45,000 a year and $63,000 a year, which actually looks like a bit of a stagnation zone.

So to the extent that one is to read this article,

So to the extent that one is to read this article,

take away the kind of the buzzy title and whatnot.

take away the kind of the buzzy title and whatnot.

The thing that is important is to narrowly focus on this one issue, which is that we do have some policy failures in this zone where earning an extra dollar often results in losing a dollar of benefits like SNAP and other things.