How To Actually Tax The Rich — ft. Ray Madoff
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What is the main topic discussed in this episode?
What does it take to be prepared for disaster? You have to be confident. You have to be calm. Will you be perfect? No. But the idea is that you'll have your bearings and this won't be something new to you. This week on Explain It To Me, how to stay ready so you don't have to get ready. New episodes Sundays wherever you get your podcasts.
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Tickets are still available in Chicago, Los Angeles, and Miami.
Ed?
No joke today. No joke. Why's that? Claire was giving me shit about our guests showing up in 20 minutes, and I just didn't have time to find a offensive, yet not too offensive joke, so I'm going with our constant self-promotion of the tour. Well, the promotion's very important, especially for all of our Chicago listeners and our Miami listeners. I think we need to pump crypto a little bit if we're going to get all the Miami people to show up. uh, to the Fillmore. I think that, I think that's, that's something that we should maybe get into. We've got five days left to pump some altcoins. Um, maybe we could get into some Comrocket, maybe some Faltcoin. Maybe we'll just keep it simple and stick with Bitcoin.
This is just making a whole lot of sense to me. It's all resonating. Yeah. No, this is, uh, so I told you who I, I came up, actually, this wasn't my idea. This is who we're going to invite, although we're trying to track him down, but I think it'd be great if he said yes, so if he's listening. Uh, I think we should have Adam Neumann.
Ha ha ha.
How do the ultra-wealthy avoid paying taxes?
That's not a bad idea. I agree. You know, he's actually an incredible speaker and communicator. Everything he says, he just... Did I tell you my story about Adam Neumann? I don't think so. Not coming to mind. So I was invited to the J.P. Morgan Alternative Investments Conference, which is literally one of the... It's kind of second only to Davos in terms of what would happen to the GDP if all of a sudden the earth opened up and swallowed all the people there. And they have me do my predictions thing. I've done it twice, I think. And then they have me interview somebody. And the first year I'm up there, I did my predictions thing. And I said, and now I want to welcome to the stage Adam Neumann. And I interviewed him and he went into his whole rap about community and elevating the world's consciousness and everything else he figured out on a wild mushroom trip that thought he could turn into a public company.
So we did this thing and he was like wearing no socks. He looks like Jesus. He's very handsome. He's very compelling. He has a whole rap. And then there was a movie called We Crashed where I played me. No, I didn't play me. Kelly Alcoyne from Billions played me interviewing him. Somebody got a hold of the transcript. And the next year I was invited back. and they had me interview some influencer who's come and gone, I don't even remember her name. And at the end of the thing, I said, and by the way, you know who the last person I interviewed on this stage was? And she said, what? And the audience went stone cold silent. And I said, Adam Neumann. And I guess that was not the right thing to say, according to JP Morgan executives.
And I have not been invited back. I have not been invited back. Yeah. I've also been disinvited from another unbelievable gathering that I went to for the first time last year because I've been saying that Elon Musk would lose his case.
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Chapters
8 chapters
1
What is the main topic discussed in this episode?
0:01–2:28
2
How do the ultra-wealthy avoid paying taxes?
2:28–4:21
3
What is the impact of the tax code on wealth inequality?
4:21–5:58
4
What loopholes do the wealthy exploit in the tax system?
5:58–9:57
5
How do we define wealth versus income in taxation?
9:57–12:53
6
What are the proposed solutions to tax the wealthy fairly?
12:53–16:28
7
How does the estate tax function in the current system?
16:28–20:24
8
What changes are necessary to reform the tax code?
20:24–1:04:12
Speakers
4 identifiedMore from Prof G Markets
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