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by CPLX 1552 days ago
> a lot of people that just dumped their stimulus checks on memecoins or wasted it buying spurious goods

By contrast, when the Bush tax cuts were passed all that money was used for tasteful, ethical spending

2 comments

Never said TCJA or the Bush era tax cuts were used for good purposes :) but it's probably better for the country in the long run to have excess money flowing into tech VC funds rather than being spent on memecoins and shitty electronics. That way maybe 1% of the funds will have positive returns rather than all of it being set on fire.
> better for the country in the long run to have excess money flowing into tech VC funds rather than being spent on memecoins and shitty electronics

Why

I'm just saying in the absence of any alternatives (which I'm sure there are), it's better to have 1% of trillions of dollars going towards advancing humanity and technology than 0%. I am fully aware that 99% of that money is going to be burned on WeWorks and the like.
Pretty sure at least 1% of the random shitcoin/memelord stuff went to advancing humanity too. Probably more.
Link to tech VC firm that has advanced humanity?
At least those tax cuts were on income, by definition money earned through productive activity.
Oh good. I was worried that there were still people earning income from exploitation, rent seeking, monopoly, cronyism, and leveraging principal-agent conflicts of interest but looks like that’s all over now.