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I am leaning libertarian and I am very sympathetic to this point of view. However, with the amount of taxes these companies pay and the economic growth they gen

by glerk 4y ago

I am leaning libertarian and I am very sympathetic to this point of view. However, with the amount of taxes these companies pay and the economic growth they generate, they have every right to ask the question: when does the government benefit us? If this very costly government is not able to guarantee the integrity of its federal reserve notes deposits, then what is its purpose? What makes it legitimate?

scarface74 4y ago
How much in taxes do money losing startups pay? But, I am sympathetic to the employees and even the owners of the startups. They didn’t take risky bets. I couldn’t imagine spreading my business as a startup (if I had one) to 10 different banks and trying to manage all of the obligations.
briHass 4y ago
How is this the government's fault, unless you want to talk about tighter regulations? From a libertarian perspective, you deposit money at a bank, they make you sign documents about the well-known FDIC insurance limits (a bonus insurance offered by the government), and you make the free choice to mitigate whatever risks you think you have based on that 250K vs whatever you plan to deposit. It's essentially a business choosing to underinsure themselves.
- glerk 4y ago
  I wouldn't say it is the government's fault, but is it that unreasonable to expect this basic safety net as a benefit for being a subject/customer of this government? Various organs of the government are claiming the authority to create and enforce financial regulations. And yet, cash deposits in government-backed currency at a 100% government-regulated bank can still vanish overnight. Given the huge costs of maintaining this government, and given the similar benefits it provides to others (Wall Street bailouts, stimulus checks, student debt forgiveness, etc.), is it that unreasonable to ask what YC is asking?
  - eropple 4y ago
    > I wouldn't say it is the government's fault, but is it that unreasonable to expect this basic safety net as a benefit for being a subject/customer of this government? Up to $250,000, which covers almost every individual and most businesses in the country. You want to be bigger, you should be coming correct.
throwwwaway69 4y ago
> when does the government benefit us? literally all the time, the entire country is shaped around the benefit of corporate interests and capitalism

by glerk 4y ago

scarface74 4y ago

How much in taxes do money losing startups pay? But, I am sympathetic to the employees and even the owners of the startups. They didn’t take risky bets. I couldn’t imagine spreading my business as a startup (if I had one) to 10 different banks and trying to manage all of the obligations.

briHass 4y ago

How is this the government's fault, unless you want to talk about tighter regulations? From a libertarian perspective, you deposit money at a bank, they make you sign documents about the well-known FDIC insurance limits (a bonus insurance offered by the government), and you make the free choice to mitigate whatever risks you think you have based on that 250K vs whatever you plan to deposit. It's essentially a business choosing to underinsure themselves.

glerk 4y ago
I wouldn't say it is the government's fault, but is it that unreasonable to expect this basic safety net as a benefit for being a subject/customer of this government? Various organs of the government are claiming the authority to create and enforce financial regulations. And yet, cash deposits in government-backed currency at a 100% government-regulated bank can still vanish overnight. Given the huge costs of maintaining this government, and given the similar benefits it provides to others (Wall Street bailouts, stimulus checks, student debt forgiveness, etc.), is it that unreasonable to ask what YC is asking?
- eropple 4y ago
  > I wouldn't say it is the government's fault, but is it that unreasonable to expect this basic safety net as a benefit for being a subject/customer of this government? Up to $250,000, which covers almost every individual and most businesses in the country. You want to be bigger, you should be coming correct.

throwwwaway69 4y ago

> when does the government benefit us? literally all the time, the entire country is shaped around the benefit of corporate interests and capitalism