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The benefits of taxation is that you don't need to build up an endowment, you can just pay it today. You could spend $364M today, and then next year, and then e
by mikeyouse 6y ago
The benefits of taxation is that you don't need to build up an endowment, you can just pay it today. You could spend $364M today, and then next year, and then every year. Why introduce random financial engineering to the mix?
- chongli 6y agoWhy introduce random financial engineering to the mix? Because then it pays for itself. Look at the Nobel prizes. Look at Harvard University. Look at the Norwegian pension fund. These are backed by HUGE endowments which pay for themselves with profits earned on the market. They are also extremely stable. On the other hand, look at Social Security in the US. Any sort of benefits program paid for by taxes is exposed to political interference. That makes them inherently unstable.