Scott Galloway

food or healthcare or education, you would decrease the amount of education, health, right, and longevity.

That's a bad tax.

A good tax is one where you create revenue for the system, whether it's paying down deficit, the Navy, our parks, that doesn't really hurt people's emotional or physical wellbeing.

I believe getting rid of the estate tax exemption, if the Bezos heirs inherit 20 billion instead of 30, I don't think they're going to be any less happy.

I think if you had an alternative minimum tax of say 50% on people making more than a million dollars or, and by the way, some people already pay 50%, but the owners don't, the people who buy and sell stocks or businesses.

I don't think that

Anything above a million or two million bucks a year makes you any happier.

And there's research, I'm basing what I say on Daniel Kahneman's research that there is a correlation between money and happiness, but it tops out.

So above a certain amount, if you get no incremental happiness, but people under a certain amount of money get a lot of happiness.

In other words, if someone pays a billion dollars more in taxes because they made $10 billion in a year selling shares in the upcoming space XIPO, and there's gonna be a lot of people who make at least $10 billion, they're no less happy.

But if you take a million houses and give them each $10,000 in cash or services that, say, have an income of less than $60,000, you create a great deal of happiness, or more specifically, you relieve anxiety.

The happiest countries in the world are the ones in Northern Europe.

And it's not because they have more stuff.

It's because they have an absence of fear of things being taken away from them.

They have an absence of fear about having their dignity robbed because they might be one of the 40% of U.S.

households that have medical or dental debt.

So nearly half of American households have medical or dental debt because they just couldn't afford to pay for their daughter's root canal.

So in sum...

You know, I think it's nice he's saying that.

I think it's a misdirect from the fact that he should be paying more taxes.