Nick Litsardopoulos

Jeff Bezos said the bottom half of Americans should pay zero federal income tax. He cited a nurse in Queens making ~$75K and paying ~$12K in taxes saying “we shouldn’t be asking this nurse in Queens to send money to Washington.”

my position is 1. most billionaires earn their money legally 2. even if billionaires mostly "earn" their billions, i think that the concentration of wealth is a political, societal, and even economic problem. (for example: billionaire contributions to national elections could easily get to 25-50% of total political spend, and the power that implies over political and agenda capture makes me nervous; plus, at some point, concentration could move money from spenders to savers in a way that could be troublesome for growth) 3. recent tax cuts for s corps and c corps really don't help with (2) 4. to begin to address (2) i think we should undo the trump tax cuts, increase avg effective estate taxes, and probably raise the national minimum effective tax rate for the wealthiest ppl. it's too easy for billionaires to pay lower effective tax rates than the middle class with the c/s corp rules we have now

Former Bear Stearns CEO Alan Schwartz avoided private credit for a decade, now he's raising $8.4 billion to capitalize on the crack he sees coming. "Anytime you have an asset class that is illiquid and nontransparent and you're getting redemption calls, there's no marketplace to go to. It can spasm and create significant problems.”