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Why Everyone Is Suddenly Talking About 'Universal Basic Capital'
23 days ago
- Universal Basic Capital (UBC) is proposed as a hedge against AI-induced inequality by giving everyone an ownership stake in AI companies.
- UBC differs from Universal Basic Income (UBI) by providing equity accounts instead of cash payments, potentially avoiding political hurdles related to taxes and welfare.
- The policy has bipartisan appeal, with examples like the 'Trump Accounts' bill and proposals from figures like Vivek Ramaswamy to grant stock accounts at birth.
- Critics warn that a government-controlled sovereign wealth fund model, as proposed by Bernie Sanders, could lead to regulatory capture and politicization of AI companies.
- Implementing UBC without careful design risks giving excessive control to political actors, undermining corporate independence and public oversight.
Now at $50M: Ro Khanna "Why I Support a Billionaire Wealth Tax"
22 days ago
- The author argues for a billionaire wealth tax of 5% annually on total wealth, not income, to raise $4.4 trillion over a decade for public services.
- The tax aims to fund teacher salaries, affordable childcare, and healthcare, contrasting with Governor Newsom's income-based tax proposal that raises far less revenue.
- Wealth flight fears are dismissed, citing California's strong venture capital investment and political support for the tax despite billionaire opposition.
- The proposal extends to centimillionaires ($50M+), including wealth in irrevocable trusts, through the Ultra-Millionaire Tax Act.
- The fight is framed as a moral test, reversing anti-tax movements like Proposition 13, and a choice between supporting working people or the billionaire class.
Britain: A Cautionary Tale for America
6 days ago
- The UK serves as a cautionary tale for the U.S., highlighting economic stagnation and policy missteps despite historical ties.
- Key UK problems include NIMBYism hindering housing and infrastructure, excessive financialization concentrating the economy in London, and abrupt fiscal austerity damaging public services.
- Brexit reduced UK GDP by 6-8%, showing the risks of cutting off export markets, while energy scarcity from poor decarbonization plans hurt competitiveness and living standards.
- Direct government provision of services like the NHS is politicized and vulnerable to underinvestment, a lesson for U.S. health care debates.
- The U.S. should learn to avoid similar pitfalls: prioritize growth, manage debt gradually, maintain international markets, and ensure energy abundance.

Hasty Briefsbeta

economic policy

Why Everyone Is Suddenly Talking About 'Universal Basic Capital'

Now at $50M: Ro Khanna "Why I Support a Billionaire Wealth Tax"

Britain: A Cautionary Tale for America