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We’d probably be living like the Jetsons if the Middle East was stable, China wasn't so aggressive in the South China Sea, and Russia didn't have some illusion

We’d probably be living like the Jetsons if the Middle East was stable, China wasn't so aggressive in the South China Sea, and Russia didn't have some illusion of being able to restore the Soviet Union.

DrNosferatu 2y ago
We’d probably be living like the Jetsons if we would make a serious attempt to curb (effective) tax evasion and profit offshoring to reduce inequality. (ie: make returns on labor converge to - or at least track - returns on capital)
- airstrike 2y ago
  > curb (effective) tax evasion and profit offshoring to reduce inequality. that assumes cooperation on a global scale between competing tax jurisdictions, which in my book is infinitely harder to achieve than net power via fusion
  - DrNosferatu 2y ago
    Either the US or the EU could do it: which global company can afford to not do business in any of these economic blocks? But the way the EU handled the COVID vaccine procurement, I think we’re still a long way.
  - DrNosferatu 2y ago
    Nevertheless, this was a good first step: https://www.washingtonpost.com/business/2023/07/03/global-minimum-tax-american-businesses/ https://www.washingtonpost.com/business/2023/07/03/global-mi... Maybe next time they actually make it work?
- southernplaces7 2y ago
  This is laughable, an ideological trope with little bearing on reality. Governments spend and also waste far more money than is not only hidden from tax obligations but also more money than is also collected through tax receipts of all kinds (all that sweet, sweet deficit spending at work). And they do indeed waste vast amounts of it, on military plans, boondoggles that go nowhere, bullshit drug wars, bloated bureaucracies that perpetuate themselves to never solve the problems behind their original purpose and so forth, but the blame for no Jetsons future is really with people hiding a fraction outside what's already taxed and keeping it from more of that same public spending waste? If governments wanted to spend on long-term tech and energy investments, they most definitely could find the funds to do so from among their existing budgets. These budgets are in many cases at record levels anyhow. However they don't because, well, see wasteful spending causes listed above, none of which go away since they benefit so many entrenched institutional interests... Money hidden by tax evasion is in any case not dead capital. It gets moved around, invested, reinvested, and through different means, channeled to the kinds of things that legitimate investments funds and VCs also spend their money on (presumably as a good thing, since you're not also blaming them for no Jetsons future).
  - imtringued 2y ago
    Money hidden by tax evasion is the deadest of all money. It literally doesn't get moved around, invested or reinvested, because that would trigger taxable events and get the IRS after your ass.
    - southernplaces7 2y ago
      You're flatly wrong and should read more about how tax evasion works. I assure you that if someone manages to skim an extra X millions of dollars away from the tax man, they certainly won't let it sit dead and being eaten by inflation after that effort and expense. They might as well have simply paid taxes on it otherwise. Through an assortment of vehicles and mechanisms, that money does indeed get shifted, moved and invested in all sorts of sophisticated and fully diverse ways, just like assets that were legitimately declared. I mean, what do you think they keep it in? Giant vaults as stacks of cash, like Scrooge McDuck? Absurd, the kinds of childish ideas about tax evasion that appear here.
  - deleted 2y ago
    [deleted]
  - DrNosferatu 2y ago
    Ah, where do I begin? Southernplaces7, your argument reads like the greatest hits of neoliberal thought circa 1980. Sure, governments can be wasteful—cue the obligatory mention of military overspending and bureaucratic bloat—but that doesn’t negate the crux of my point: tax evasion and profit offshoring are significant drags on economic equality. You suggest that hidden capital is always put to good use. But let’s be real, the majority of it ends up in the average urban Joe's much beloved real estate speculation, yachts, and financial instruments that do little to spur genuine economic growth or innovation. It’s like hiding your vegetables under the mashed potatoes and claiming you’ve eaten them. It’s still there, but it’s not nourishing anyone. Or, while it's lovely to think that the hidden wealth of the ultra-rich is busily working away like Santa's elves to create a better future, the reality is starkly different. And about that Jetsons future: it’s not about just having the funds. It’s about allocating them efficiently and equitably. When capital returns far outstrip labor returns because the wealthy can hide their money and avoid taxes, we create an unbalanced system where innovation and societal progress are stunted. It’s not just about waste, it’s about skewed incentives. Effective tax policy isn’t about bleeding the rich dry; it’s about ensuring that those who benefit the most from the system contribute proportionately to its upkeep and progress. And governments aren’t perfect, but they’re the only game in town for large-scale investments in public goods—think infrastructure, education, healthcare, and yes, tech innovation and green transition. So, before we go all in on the "government waste" narrative, let’s remember that the (current) alternative is a plutocracy where the rich get richer and the rest of us get crumbs. No Jetsons future in that, rather much more like the Flintstones.

DrNosferatu 2y ago

We’d probably be living like the Jetsons if we would make a serious attempt to curb (effective) tax evasion and profit offshoring to reduce inequality. (ie: make returns on labor converge to - or at least track - returns on capital)

airstrike 2y ago
> curb (effective) tax evasion and profit offshoring to reduce inequality. that assumes cooperation on a global scale between competing tax jurisdictions, which in my book is infinitely harder to achieve than net power via fusion
- DrNosferatu 2y ago
  Either the US or the EU could do it: which global company can afford to not do business in any of these economic blocks? But the way the EU handled the COVID vaccine procurement, I think we’re still a long way.
- DrNosferatu 2y ago
  Nevertheless, this was a good first step: https://www.washingtonpost.com/business/2023/07/03/global-minimum-tax-american-businesses/ https://www.washingtonpost.com/business/2023/07/03/global-mi... Maybe next time they actually make it work?
southernplaces7 2y ago
This is laughable, an ideological trope with little bearing on reality. Governments spend and also waste far more money than is not only hidden from tax obligations but also more money than is also collected through tax receipts of all kinds (all that sweet, sweet deficit spending at work). And they do indeed waste vast amounts of it, on military plans, boondoggles that go nowhere, bullshit drug wars, bloated bureaucracies that perpetuate themselves to never solve the problems behind their original purpose and so forth, but the blame for no Jetsons future is really with people hiding a fraction outside what's already taxed and keeping it from more of that same public spending waste? If governments wanted to spend on long-term tech and energy investments, they most definitely could find the funds to do so from among their existing budgets. These budgets are in many cases at record levels anyhow. However they don't because, well, see wasteful spending causes listed above, none of which go away since they benefit so many entrenched institutional interests... Money hidden by tax evasion is in any case not dead capital. It gets moved around, invested, reinvested, and through different means, channeled to the kinds of things that legitimate investments funds and VCs also spend their money on (presumably as a good thing, since you're not also blaming them for no Jetsons future).
- imtringued 2y ago
  Money hidden by tax evasion is the deadest of all money. It literally doesn't get moved around, invested or reinvested, because that would trigger taxable events and get the IRS after your ass.
  - southernplaces7 2y ago
    You're flatly wrong and should read more about how tax evasion works. I assure you that if someone manages to skim an extra X millions of dollars away from the tax man, they certainly won't let it sit dead and being eaten by inflation after that effort and expense. They might as well have simply paid taxes on it otherwise. Through an assortment of vehicles and mechanisms, that money does indeed get shifted, moved and invested in all sorts of sophisticated and fully diverse ways, just like assets that were legitimately declared. I mean, what do you think they keep it in? Giant vaults as stacks of cash, like Scrooge McDuck? Absurd, the kinds of childish ideas about tax evasion that appear here.
- deleted 2y ago
  [deleted]
- DrNosferatu 2y ago
  Ah, where do I begin? Southernplaces7, your argument reads like the greatest hits of neoliberal thought circa 1980. Sure, governments can be wasteful—cue the obligatory mention of military overspending and bureaucratic bloat—but that doesn’t negate the crux of my point: tax evasion and profit offshoring are significant drags on economic equality. You suggest that hidden capital is always put to good use. But let’s be real, the majority of it ends up in the average urban Joe's much beloved real estate speculation, yachts, and financial instruments that do little to spur genuine economic growth or innovation. It’s like hiding your vegetables under the mashed potatoes and claiming you’ve eaten them. It’s still there, but it’s not nourishing anyone. Or, while it's lovely to think that the hidden wealth of the ultra-rich is busily working away like Santa's elves to create a better future, the reality is starkly different. And about that Jetsons future: it’s not about just having the funds. It’s about allocating them efficiently and equitably. When capital returns far outstrip labor returns because the wealthy can hide their money and avoid taxes, we create an unbalanced system where innovation and societal progress are stunted. It’s not just about waste, it’s about skewed incentives. Effective tax policy isn’t about bleeding the rich dry; it’s about ensuring that those who benefit the most from the system contribute proportionately to its upkeep and progress. And governments aren’t perfect, but they’re the only game in town for large-scale investments in public goods—think infrastructure, education, healthcare, and yes, tech innovation and green transition. So, before we go all in on the "government waste" narrative, let’s remember that the (current) alternative is a plutocracy where the rich get richer and the rest of us get crumbs. No Jetsons future in that, rather much more like the Flintstones.