Good sailors (i.e., ones who cruise long distances and/or race a lot) have to be system thinkers. They have to understand everything on their boat (sails, engines, electrical, water, waste, hulls, masts, shrouds & how they connect to the hull, lines, rigging) and how they all work together. You can get seriously hurt or killed if you miss an important detail. System thinkers are rare and incredibly valuable to your organization or business.
Many tax limits haven’t been updated up with inflation in DECADES. Some examples:
$3k capital loss deduction (1978) → ~$15.5k today
$3k dependent care credit (1976) → ~$17.4k today
$250K/$500K primary residence exclusion (1997) → ~$507k/~$1.14M today
Wild.
DMV lady: It’ll be $56.
Me: It costs $56 for a mandatory ID update?
DMV lady: It lasts 8 years.
Me: Shouldn’t all those taxes and vehicle registration fees cover this?
DMV lady: No! (vigorous head shaking)
Me: …
🚨 TIM DILLON: “Apple hasn’t had a new feature in a long time. There’s no difference. In fact, it’s so shockingly similar that you forget that you have a new phone. That’s why no one knows what phone they have. Because no one’s proud of their phone. Nobody says ‘Oh I’ve got the 19S+,’ People don’t even know when the last time they got a new phone is because they all blend together, they all do the same thing. There’s no phone that’s new.”
That’s so true. Wow. 😂
Apple should not have acquiesced—especially for an advanced western democracy like the UK. Weakening encryption is bad for humanity and something worth fighting to the bitter end.
IMO a sort of "reverse Cantillon Effect" appears to be taking place in western social democracies, whereby those closest to the legacy centers of power & money creation are often the last to understand what is happening in economic, trade, foreign, & domestic policy, etc.
Property taxes should be outlawed.
And before someone says “aLL tAxEs sHouLd be ouTlaWed” yes, but property taxes in particular are the most unjust.
Every other tax is based on a share of a transaction. You always know upfront what this share will be.
Property taxes, on the other hand, are based on a “value” assessed by the same entity levying the tax. Your town or county literally “decides” what your property is worth (assessed value) and then demands a share of it, regardless of your ability to pay. Fail to pay and they take the property for themselves.
The model is actually worse than an unrealized gains tax; you aren’t just paying the tax on the gain, you are basically paying a percentage of whatever they decide the value is, every year in perpetuity.
That’s why it’s is the most unjust tax. That’s why it should be abolished.