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Common Wealth 🍁
4.2K posts
Common Wealth 🍁
@CommonWealth_ca
Canadian think tank focused on real solutions to our housing, affordability, and productivity challenges.
Canada Katılım Nisan 2023
1.4K Takip Edilen2.5K Takipçiler
Dr. Paul Kershaw (UBC & GenSqueeze) says Canada's housing policy has avoided hard truths
"Housing insecurity finances housing wealth gained by older generations"
"We aren't gonna fix housing without an honest conversation... Do we want [home prices] to rise, stall, or fall?"
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Common Wealth 🍁 retweetledi
🎯 Our ideas of ownership need to shift to a collective understanding of assets that are driving this productivity and innovation. We have produced the content and knowledge behind AI. The US' unique openness to brilliant people from all over the world has driven it too.
Ken Yang@kenjaminyang
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Common Wealth 🍁 retweetledi
No coincidence then that one of the most popular policy options to distribute AI gains is through the tried-and-true, dividend-paying sovereign wealth funds.
We've encountered the problem of economic polarization before -- AI is simply a trend accelerator.
Ken Yang@kenjaminyang
Outstanding @MattBruenig. We already have the economic policy solutions to AI, because we've seen these problems before. "The most obvious vehicle for social ownership of this sort would be a dividend-paying social wealth fund like Alaska has... the practical reality is that governments in the U.S. already run nearly 5,000 public pension funds that differ from this proposal only in that their return goes to fund retirement benefits rather than to fund a universal dividend." theargumentmag.com/p/ai-could-des…
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Outstanding @MattBruenig. We already have the economic policy solutions to AI, because we've seen these problems before.
"The most obvious vehicle for social ownership of this sort would be a dividend-paying social wealth fund like Alaska has... the practical reality is that governments in the U.S. already run nearly 5,000 public pension funds that differ from this proposal only in that their return goes to fund retirement benefits rather than to fund a universal dividend."
theargumentmag.com/p/ai-could-des…
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Common Wealth 🍁 retweetledi
Bank of Canada: "We need house prices to come down, so that housing is more affordable."
How many politicians have the guts to say this? So far, few. Remember, most Canadians would be ok with home prices coming down. Let's normalize this narrative.
x.com/SteveSaretsky/…
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Common Wealth 🍁 retweetledi
Bank of Canada saying the quiet part out loud. House prices need to come down to become more affordable.
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Common Wealth 🍁 retweetledi
Our property tax system captures only ~10% of the rental value of land, created by public investments, workers & businesses, not by the individual owners.
Property owners pocket the other 90%. If we want to address the housing (i.e. land) crisis, we should start here.
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Common Wealth 🍁 retweetledi
@deepestbrew @AndrewYang @ubi_works 100%. We write about that solution at commonwealth.ca/fund. Sam Altman also proposed a large corporation 2% annual equity tax into a fund plus a 2% land value tax, making us co-owners in the value creation from AI.
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Vinod proposes to eliminate income tax (<$100K) and capital gains exemptions.
Let's take this a step further: Tax land more and work less.
Capital gains is a blunt tool at best that lumps productive capital with unproductive land rents.
FORTUNE@FortuneMagazine
“I think fundamentally we ought to eliminate the notion of capital gains," @vkhosla told Fortune Editor-in-Chief @ajs in the latest episode of @Fortune500: Titans and Disruptors of Industry. bit.ly/4u7rEgR
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Common Wealth 🍁 retweetledi
I regularly get messages that I'm fearmongering about AI.
My first job at a big law firm can be 100% automated today. Classmates are telling me their firms are planning to hire fewer juniors, and maybe none with <3 yrs exp.
Our team has already deployed tech for many tasks that would've required hiring someone a few years ago, allowing us to do much more with less (labor and $).
I'm optimistic about where technology will take us in living standards, healthcare, agri, and research. But we have to acknowledge that what we're seeing is an accelerating K-shaped economy as the economic incentives to automate compound. None of this is theoretical.
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Common Wealth 🍁 retweetledi
Dr. Paul Kershaw (UBC & Generation Squeeze) says Canada's housing policy has avoided hard truths
“Housing insecurity finances housing wealth gained by older generations"
"We aren't gonna fix housing without an honest conversation... Do we want [home prices] to rise, stall, or fall?"
English
Common Wealth 🍁 retweetledi
We have to move to broader capital ownership ASAP as AI wipes out wages.
Basic income is one part of a portfolio of households' post-labor income, including sovereign wealth funds, equities, ESOPs, and land value return.
🚀
UBI Works 🇨🇦@ubi_works
It's official. It's the end of work as we know it. We sat down with @DaveShapi, author of Labor/Zero and the leading thinker on post-labor economics, to talk about the world after wage labor and why UBI is necessary. Watch: youtu.be/8RcYXGKvg44
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Common Wealth 🍁 retweetledi
It's official. It's the end of work as we know it.
We sat down with @DaveShapi, author of Labor/Zero and the leading thinker on post-labor economics, to talk about the world after wage labor and why UBI is necessary.
Watch: youtu.be/8RcYXGKvg44
YouTube
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Common Wealth 🍁 retweetledi
I just backed @DaveShapi's book, a 180,000-word treatise for a post-labor economy, when machines could do all or most of the work humans are paid to do today. It was fully funded in 2 hours.
Liberate humanity from drudgery.
He's the leading guy on post-labor economics. Anyone interested in the future of work should check it out and consider supporting him.
kickstarter.com/projects/daves…
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There's a better way. We can have a sovereign wealth fund that invests on behalf of all Canadians and pays us dividends from the proceeds of natural resources and other publicly funded wealth.
commonwealth.ca/fund
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Canada is launching a $2B Critical Minerals Sovereign Wealth Fund that takes equity stakes in projects.
Great—we're still on track to lose 80% of our $1T minerals wealth. Imagine if Canadians actually saw this value back in dividends & public services, like Norway/Alaska/Texas.
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@PierrePoilievre Capitalists should favour a land value tax shift, replacing income or property taxes.
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“Raymond J. de Souza: Adam Smith's profoundly moral economic philosophy”
National Post@nationalpost
Raymond J. de Souza: Adam Smith's profoundly moral economic philosophy nationalpost.com/opinion/raymon…
Română
@nationalpost Adam Smith's other profoundly moral economic idea: tax land instead of work..
x.com/i/status/17448…
Floyd Marinescu 🔰@floydmarinescu
Adam Smith, the godfather of capitalism, strongly believed that we should tax land, not workers. Why tax what people have earned? We should tax what people have not earned. That would encourage more housing and make our economy work better.
English
Raymond J. de Souza: Adam Smith's profoundly moral economic philosophy nationalpost.com/opinion/raymon…
Română