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David Friedberg

๐Ÿ‘ค Speaker
6361 total appearances

Appearances Over Time

Podcast Appearances

All-In with Chamath, Jason, Sacks & Friedberg
Iran's Breaking Point, Trump's Greenland Acquisition, Solving Energy Costs, Billionaire Tax Backlash

Pennsylvania has a strict uniformity clause, which would make it impossible to have graduated tax rates or distinguished tax rates amongst populations.

All-In with Chamath, Jason, Sacks & Friedberg
Iran's Breaking Point, Trump's Greenland Acquisition, Solving Energy Costs, Billionaire Tax Backlash

Illinois has a strict constitutional mandate for a flat non-graduated tax rate, so you cannot do a separation.

All-In with Chamath, Jason, Sacks & Friedberg
Iran's Breaking Point, Trump's Greenland Acquisition, Solving Energy Costs, Billionaire Tax Backlash

And then asset seizure is referred to as a civil asset forfeiture, which...

All-In with Chamath, Jason, Sacks & Friedberg
Iran's Breaking Point, Trump's Greenland Acquisition, Solving Energy Costs, Billionaire Tax Backlash

is a separate legal issue, but implies in states like New Mexico, Nebraska, and North Carolina, you cannot actually have an asset taken from you by the state.

All-In with Chamath, Jason, Sacks & Friedberg
Iran's Breaking Point, Trump's Greenland Acquisition, Solving Energy Costs, Billionaire Tax Backlash

So there's a bunch of states that this would be constitutionally protected against.

All-In with Chamath, Jason, Sacks & Friedberg
Iran's Breaking Point, Trump's Greenland Acquisition, Solving Energy Costs, Billionaire Tax Backlash

I don't think it's going to make the ballot.

All-In with Chamath, Jason, Sacks & Friedberg
Iran's Breaking Point, Trump's Greenland Acquisition, Solving Energy Costs, Billionaire Tax Backlash

I mean, look, I think it's not, I'm not saying 100%.

All-In with Chamath, Jason, Sacks & Friedberg
Iran's Breaking Point, Trump's Greenland Acquisition, Solving Energy Costs, Billionaire Tax Backlash

I'm saying slight overweight that it's not going to get there.

All-In with Chamath, Jason, Sacks & Friedberg
Iran's Breaking Point, Trump's Greenland Acquisition, Solving Energy Costs, Billionaire Tax Backlash

I think we're going through the rolling wake-up process right now, which is people are waking up to the fact that the asset seizure tax is an elimination of private property rights.

All-In with Chamath, Jason, Sacks & Friedberg
Iran's Breaking Point, Trump's Greenland Acquisition, Solving Energy Costs, Billionaire Tax Backlash

That fundamentally what you're saying, and I wrote this in my tweet, that private property now becomes public property.

All-In with Chamath, Jason, Sacks & Friedberg
Iran's Breaking Point, Trump's Greenland Acquisition, Solving Energy Costs, Billionaire Tax Backlash

Because as soon as you give the government the right to collect your post-tax assets

All-In with Chamath, Jason, Sacks & Friedberg
Iran's Breaking Point, Trump's Greenland Acquisition, Solving Energy Costs, Billionaire Tax Backlash

through a legislative vote, you are basically saying that you no longer have private property, because at any point in the future, the government can vote to say, I'm going to take your private property, which is different than an income tax, which is when you earn something that you didn't have before, and they take a percentage of your earnings of your income.

All-In with Chamath, Jason, Sacks & Friedberg
Iran's Breaking Point, Trump's Greenland Acquisition, Solving Energy Costs, Billionaire Tax Backlash

The statement now is after you've made your income, it's now your private property, they can come and take it.

All-In with Chamath, Jason, Sacks & Friedberg
Iran's Breaking Point, Trump's Greenland Acquisition, Solving Energy Costs, Billionaire Tax Backlash

And so that is a distinction that has never existed in the United States.

All-In with Chamath, Jason, Sacks & Friedberg
Iran's Breaking Point, Trump's Greenland Acquisition, Solving Energy Costs, Billionaire Tax Backlash

And I will make the retort right now to property tax because people always say to me, well, what about property tax?

All-In with Chamath, Jason, Sacks & Friedberg
Iran's Breaking Point, Trump's Greenland Acquisition, Solving Energy Costs, Billionaire Tax Backlash

A property tax is a service fee on a particular specific asset.

All-In with Chamath, Jason, Sacks & Friedberg
Iran's Breaking Point, Trump's Greenland Acquisition, Solving Energy Costs, Billionaire Tax Backlash

The money that is collected provides services for that asset to make it more valuable.

All-In with Chamath, Jason, Sacks & Friedberg
Iran's Breaking Point, Trump's Greenland Acquisition, Solving Energy Costs, Billionaire Tax Backlash

So you get roads, infrastructure, policing, fire care, schools, all the stuff that comes with property tax makes that asset more.

All-In with Chamath, Jason, Sacks & Friedberg
Iran's Breaking Point, Trump's Greenland Acquisition, Solving Energy Costs, Billionaire Tax Backlash

And you have the option at any point you want to sell that property and stop paying that property tax.

All-In with Chamath, Jason, Sacks & Friedberg
Iran's Breaking Point, Trump's Greenland Acquisition, Solving Energy Costs, Billionaire Tax Backlash

you have the option at any point to downgrade your property and get a cheaper property and pay it lower.