Kathryn Anne Edwards

I would just like the tax code to be good the first time but achieve the same thing.

So your second question is,

Yes, Jamie Dimon said recessions are things that happen every seven years.

I actually just wrote a newsletter about this where I talk about how this is almost a problem with the way that economists gatekeep formal language, that we tend to put a weight on something when it becomes officially inflation or officially a recession.

But that if you look at the labor market right now, I mean, it is a recession for the people who are unemployed, but economists have decided that there's not enough of them

for it to be a recession, a recession.

So I'm with you.

We have not gone from sliding from expansion to decline kind of slowly, hard to see in real time.

We haven't done that since the end of 2007.

I mean, we're out of practice to see it.

But I think that my problem with recessions is not that they don't

they're maybe not as big of a deal or they don't have harm because there is some momentum that goes behind saying that the economy is in recession and it has its own negative consequences.

I think I'm more concerned that the level of tolerance we're willing to have for suffering in the labor market has gotten rather high.

Yeah, and I think people would get really upset if they knew just how much— how adherent W-2 workers are to their taxes owed relative— I mean, it's not even that there's a tax gap and it's spread around.

It's really— If you have a wage and salary job—

You pay taxes like you are the sucker.

But I think to me that gets at the broader point of, you know, there was a tax commission put together in the first Bush administration, maybe second Bush administration, second term of the second Bush administration.

God, politics is so incestuous these days.

In the second term of the second Bush administration, there was a tax commission put together of design tax reform.

And the very first word of their analysis was simple.