It becomes full circle for Haas graduate and former Cal QB Fernando Mendoza
The Raiders QB and No. 1 overall draft pick, who got his UC Berkeley undergrad degree at Haas, was finally able to walk at today's commencement at the Greek Theater
This sounds nice, but it's a great way to undermine the welfare state.
The strongest welfare states in the world (the Nordics) tax everyone, including nurses. And they give everyone universal healthcare, childcare, pensions, education in return.
When the middle class has skin in the game, they defend the system. When welfare is 'just for the poor', it becomes a poor program: stigmatized, underfunded, easy to gut.
That's why billionaires keep pushing this idea. The real scandal isn't that this nurse pays $12k.
It's that Jeff Bezos pays $0.
The real cheat code isn't the $81,400 salary. It's what happens at the end.
Bezos' base pay has been frozen at $81,400 since 1998. The 2026 Amazon proxy confirmed it last week. That number was 2x the US median male income in 1998. Today it's barely 16% above it.
The payroll tax dodge is the smallest piece. Even at top marginal rates, it saves him maybe $40K a year. Rounding error.
The borrow piece is bigger. An SBLOC from his private bank lets him pull cash against his Amazon stock at roughly the Secured Overnight Financing Rate plus a spread. Right now that's around 5%. No capital gains triggered. Loan proceeds aren't income. So he never sells, never realizes the gain, never pays the 20% federal plus 7% Washington or 13.3% California capital gains tax on hundreds of billions in appreciation.
But here's the part almost nobody explains.
IRC Section 1014. When he dies, his heirs inherit his Amazon shares at fair market value. The cost basis resets to whatever the stock is worth that day. Every dollar of lifetime appreciation, wiped from the tax rolls.
So Bezos' cost basis on his earliest Amazon shares is roughly $0.075 per share adjusted for splits. Today the stock is around $220. That's a gain of roughly 293,000% per share.
All of it disappears at death.
The estate then sells a slice of the now stepped-up stock at basically zero gain, uses the proceeds to pay off every outstanding SBLOC, and passes the rest to heirs.
Buy. Borrow. Die.
He doesn't avoid income tax because his salary is low. He avoids income tax because the US tax code treats a loan against $200B in stock as "not income" and treats death as a basis eraser. Congress has introduced bills to repeal step-up at death in 2021, 2022, and 2024. All failed. The 2025 tax law explicitly preserved it and raised the estate exemption to $15M per person.
The salary story is the distraction. The real subsidy is Section 1014.
Due to expected perfect weather in Berkeley, Saturday’s spring game at California Memorial Stadium will go on.
More information: https://t.co/hEOaqzbSYY
#GoBears
On March 8, 1923, Stanford announced it would not participate in a boxing tournament with Cal, scheduled for the following day. The reason: the Bears refused Stanford's demand to withdraw a Black student from the competition. The story: https://t.co/ZTxj2zfzhZ
In the movie "In the Blink of an Eye" Kate McKinnon is a solo astronaut whose only companion is an AI voice. I think she would still go insane. @paulfeig did it right in Other Space, where the AI is also visual, and the criteria for the AI's appearance is perfectly spelled out.😂
Be Dr Elisabeth Potter
> Princeton molecular bio
> crush Emory med school
> match into the most competitive plastics residency at UT Southwestern
> fellowship at MD Anderson learning to rebuild breasts with a woman’s own tissue
> graduate top of the game, DIEP flap queen, 1,000+ cases deep
> join big hospital systems in Austin
> watch insurance companies nickel-and-dime cancer patients for years
> see OR fees hit $30k+ before the surgeon even picks up a scalpel
> get the infamous @UHC call *while patient is under anesthesia* asking if she really needs to stay overnight after mastectomy + reconstruction
> step out of the OR, fight on the phone, they deny her anyway
> posts the video
> it explodes
> millions of people finally see what doctors have been screaming about for a decade
> United sends the lawyers
> “delete the videos or else”
> she laughs, posts the letter instead, and goes harder
> they cut her brand-new surgery center out of network
> Redbud Surgery Center, the one she poured millions into so women wouldn’t get crushed by hospital bills
> suddenly staring at bankruptcy while still trying to operate
> double down on cash-pay transparency
> same elite surgeons, same microsurgery expertise
> do the $100k+ hospital case for a fraction of the price
> same day, same quality, zero corporate middlemen bleeding the patient dry
> keep posting, keep fighting, keep winning small battles (Aetna in-network, Cigna in-network, one patient at a time)
> turn the whole thing into a movement
> be the surgeon who said “if I want healthcare to be different, I have to practice differently”
> actually do it
> still in the arena
> still taking on the biggest insurers in America
> still rebuilding women after cancer
I’m inspired! The Elizabeth Potter arc is what I hope for all my physician colleagues
@EPotterMD@DutchRojas
Japan is so great my god, little kids walk the streets at night alone and they feel totally safe. Awesome art, movies, and literature. Beauty abounds. People are polite, respectful and kind. I confess a modicum of melancholy tho at being forbidden to enter the communal hot springs cuz my tattoos.
I want to thank everyone for all the support we’re receiving. There really is an incredible amount of it.
For me, the sacrifice of the people depicted on the helmet means more than any medal ever could - because they gave the most precious thing they had.
And simple respect toward them is exactly what I want to give.