Friedberg

Crazy? Socialist?

It's less about fair or unfair, but I think that we are in the part of the cycle where enough people don't feel the positive aspects of capitalism that they want to push back against it. I just put a little image in here, Nick, if you want to just throw it up in the chat. But when you look from 1913 on to today, the reality is we've had

It's less about fair or unfair, but I think that we are in the part of the cycle where enough people don't feel the positive aspects of capitalism that they want to push back against it. I just put a little image in here, Nick, if you want to just throw it up in the chat. But when you look from 1913 on to today, the reality is we've had

many different forms of political philosophy that have governed the country. And what you can see is that tax rates have varied wildly at the federal level. And I think it's because that at certain times, there was the political will to go to extremes. And this may be a moment where we are going to explore the extremes that we had in the 40s and the 50s.

many different forms of political philosophy that have governed the country. And what you can see is that tax rates have varied wildly at the federal level. And I think it's because that at certain times, there was the political will to go to extremes. And this may be a moment where we are going to explore the extremes that we had in the 40s and the 50s.

And I think the reality is that if that does happen, you're going to see people behave in ways that weren't possible in the 40s and 50s. In the 40s and 50s, everybody was more geopolitically constrained. I don't think that that's the case anymore. And the way that people start companies, where they start companies, the flexibility of citizenship have changed really dramatically.

And I think the reality is that if that does happen, you're going to see people behave in ways that weren't possible in the 40s and 50s. In the 40s and 50s, everybody was more geopolitically constrained. I don't think that that's the case anymore. And the way that people start companies, where they start companies, the flexibility of citizenship have changed really dramatically.

So if it's the will of the people that they want to explore these mechanisms, I think other people will react in kind and the die will be cast. So I don't have much of an opinion.

So if it's the will of the people that they want to explore these mechanisms, I think other people will react in kind and the die will be cast. So I don't have much of an opinion.

Let's put it this way. We have a small microcosm of this going on within the 50 states, which is, if you said California was the United States, And Texas and Florida were, I'll make up two different countries, Malta and Dubai. Well, what happens when taxation goes beyond the pale? And what happens when budget deficits and spending go beyond the pale?

Let's put it this way. We have a small microcosm of this going on within the 50 states, which is, if you said California was the United States, And Texas and Florida were, I'll make up two different countries, Malta and Dubai. Well, what happens when taxation goes beyond the pale? And what happens when budget deficits and spending go beyond the pale?

And when the government plays too large of a hand in the economy? Yeah. People leave with their feet. Companies leave. So we don't need to guess what's going to happen, because if it can happen between California and Texas, it probably stands to reason it can happen between the United States and the UAE, as an example. Yeah.

And when the government plays too large of a hand in the economy? Yeah. People leave with their feet. Companies leave. So we don't need to guess what's going to happen, because if it can happen between California and Texas, it probably stands to reason it can happen between the United States and the UAE, as an example. Yeah.

There's golden visas in some great countries. Portugal has a golden visa. The UAE has a golden visa. Italy has a golden visa. The UK had this great program, what was called non-DOMs for a long time. So the point is that all of these took advantage of countries that went to extremes, and they lost citizens as a result.

There's golden visas in some great countries. Portugal has a golden visa. The UAE has a golden visa. Italy has a golden visa. The UK had this great program, what was called non-DOMs for a long time. So the point is that all of these took advantage of countries that went to extremes, and they lost citizens as a result.

And I suspect that if what the US voting population wants to do is explore that extreme, these policies will get enacted, and then people will act in kind. The only thing that I would just, again, reinforce is... Unlike when taxes went to 90% in the 40s and 50s, people are much, much more mobile than they were then.

And I suspect that if what the US voting population wants to do is explore that extreme, these policies will get enacted, and then people will act in kind. The only thing that I would just, again, reinforce is... Unlike when taxes went to 90% in the 40s and 50s, people are much, much more mobile than they were then.

Scary, but reasonable.

Scary, but reasonable.

I think it's actually more than that. I think what will happen is funds, governments, et cetera, for the right entrepreneurs with the right assets will help you pay the exit tax more. so that you can just leave the United States.