_uhtu (u/_uhtu) - Readit News

_uhtu commented on Unrealized gains taxes are a pointless hassle. Much better ways to tax the rich noahpinion.blog/p/unreali... · Posted by u/NavinF

alchemist1e9 · a year ago

I can see your training is now complete my dear socialist!

It’s incredible how our education systems fail to teach the most basic economic realities to people. Capital gains result from allocating capital wisely and taking massive risk. This actually makes them very well “earned” in the one system that is most responsibly for the improvement of the human condition than any other system ever conceived by humans - hint: because it’s organic and natural!

In contrast your socialist nonsense is an ideology based on Envy masquerading as Empathy. It is responsible for the most death and destruction by any system conceived by humans - hint: it’s because it’s evil and artificial! To attempt to steal from and punish the very capitalists responsible for lifting humanity up and forward due to Sloth and Envy is truly disgusting!

It’s very interesting that extensive propaganda has somehow convinced newer generations that libertarian capitalism is actually anarchy, which it is absolutely not, if fact it’s not even related. Liberalism in the classic sense, and therefore libertarian capitalism, requires a strict government enforcement of property rights, individual rights, rule of law, and (extremely important!) to it’s health functioning a well regulated markets free from corruption! anarchy and oligarchy have no relation to capitalism! You are confused my dear socialist.

Please help yourselves and learn the truth. Don’t live your lives consumed by the evils of Envy and Sloth!

https://iea.org.uk/wp-content/uploads/2019/02/Niemietz-Socia...

_uhtu · a year ago

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_uhtu commented on Unrealized gains taxes are a pointless hassle. Much better ways to tax the rich noahpinion.blog/p/unreali... · Posted by u/NavinF

namlem · a year ago

Here is a good explanation of why you should be against it

https://x.com/memeticsisyphus/status/1832869758179381487

_uhtu · a year ago

This is a terrible argument.

It implies the money is destroyed by taxation. In reality that money would go towards relieving the governments need to collect other tax revenues. So for example you could increase the standard deduction. Now everyone pays less tax and can either contribute more to their 401k (boosting stock values) or buying more things (boosting stock values). If you want to say the government is incompetent and will waste the money, that doesn't apply here because it applies to every tax, not specifically this one.

_uhtu commented on Unrealized gains taxes are a pointless hassle. Much better ways to tax the rich noahpinion.blog/p/unreali... · Posted by u/NavinF

alchemist1e9 · a year ago

“I have never understood why it is ‘greed’ to want to keep the money you have earned but not greed to want to take somebody else’s money.”

_uhtu · a year ago

The money in this case is capital gains, which is fundamentally not "earned" income, it's income obtained by just having money.

_uhtu commented on Meta cancels high-end mixed reality headset after Apple Vision Pro struggles macrumors.com/2024/08/23/... · Posted by u/tosh

FL33TW00D · a year ago

But there are so many things that can't be done without visual & audio context. I can't hold my smartphone camera up all day to capture and serialize useful data.

AI just made the value proposition for smartglasses 10x.

_uhtu · a year ago

The Humane AI pin says hello and that the almonds in your hand have 16000 calories.

_uhtu commented on Ditch banks – Go with money market funds and treasuries thefinancebuff.com/goodby... · Posted by u/kamaraju

tompccs · a year ago

Unless something very different in the US is available to what I can get in the UK, I think this is very dangerous advice.

If I put £100 in a savings account with 4% interest, I can withdraw that £100 (plus interest) at any time.

If I buy put £100 into government bonds with 4% yield and I check back in a year's time, if bond yields have increased (say, due to increased base rate) then the "balance" I can withdraw is _less_ than £100, since the underlying bond is less valuable!

Putting money in bonds exposes you to market volatility, which banks shield you from (which is why they get to take a cut)

Edit: a money market fund appears to absorb this volatility for you by balancing their bond portfolio, but ultimately you are still relying on the fund being well managed. The failure mode here isn't the govt not paying the coupon on the bond - it's the fund not having the liquidity to pay you if you withdraw. I don't understand enough how money markets are regulated to understand the risk, whereas banks are required to have deposit insurance in UK & US.

_uhtu · a year ago

Money market funds and short term t-bills are basically always liquid at face value, unlike longer term bonds. They fall below investment value maybe once per 50 years and that usually lasts a couple days.

_uhtu commented on Inside the "3 billion people" national public data breach troyhunt.com/inside-the-3... · Posted by u/bubblehack3r

d_burfoot · a year ago

It's worth remembering that the main reason this kind of data breach is a real problem is mostly due to the incompetence of the IRS. For any serious financial organization, knowing a person's SSN, name, address, etc doesn't allow you to access or withdraw that person's finances.

But the stupidity of the IRS means that people are easily targeted by false tax return attacks. File a fake tax return for someone, using their SSN/name/address, but tell the IRS you changed address. Then the IRS sends your tax refund to the new address, and boom, you just collected some poor sod's refund. To add insult to injury, the IRS is probably going to audit the person whose refund you stole.

_uhtu · a year ago

This comment is shockingly misguided.

The IRS doesn't have the authority to mandate the creation of a secure national ID system and enforce it's use by the financial system. Only congress has the ability to really do that. The IRS collects revenue.

Even if it did have that authority, it doesn't have the budget to accomplish that goal.

_uhtu commented on Is "Rich Dad Poor Dad" a Fraud? economistwritingeveryday.... · Posted by u/spking

_uhtu · a year ago

One thing not mentioned in the article: People may be wondering how this book became so popular, basically it's because it became intimately tied to the MLM movement, Amway specifically but it did spread beyond that. People at the top of the pyramids would buy thousands of copies to send down their "downline" as part of a motivational tool. The primary goal of someone near the top of an MLM is to convince everyone down the line that you are ripping off that it's their fault for not hustling hard enough, and this book was and is one of the popular ways of doing that.

_uhtu commented on Paris Agreement thresholds crossed arctic-news.blogspot.com/... · Posted by u/doener

jmclnx · a year ago

>The image below, created with NASA data while using a 1903-1924 custom base, illustrates that the temperature anomaly through July 2024 has been above 1.5°C for the past 13 months.

Surprise to no one.

The way things are going I believe we will hit +2c by 2040. No one wants to sacrifice their standard of living, it is human nature. Because of that, many of the young will be forced into a bad condition.

The only thing that could probably stop this, but will be just as bad, is a Yellowstone Event :(

_uhtu · a year ago

There is no real prospect of a "Yellowstone event": https://www.youtube.com/watch?v=ypn3Fe_PLts

We could effectively geoengineer one by pumping things into the upper atmosphere ourselves, but there's a lot of questions about that and we have no idea if this would help more than it hurt.

_uhtu commented on With 'digital twins,' the doctor will see you now quantamagazine.org/with-d... · Posted by u/rbanffy

ooterness · a year ago

What purpose does this serve?

It's not clear to me that any biological system is understood at this level of detail. Any simulation is likely to be garbage-in, garbage-out. And even if it were fully understood, there's not enough computing power on the planet to model every atom and every molecule.

The map is not the territory, people. All models are wrong, but some are still useful. The ability to make simplifying assumptions is the whole point.

_uhtu · a year ago

This is just one of the thousands of cases of a journalists fawning over any ML/AI thing with no understanding of the garbage-in garbage-out problem, and all the other issues with ML. You are completely right, attempting to simulate an individuals coronary systems is 100% out of our wheelhouse right now. At very best it's going to tell us things we already know, that people with clogged arteries are at risk of a heart attack. At worst it's a grift on par with fully body scans on healthy individuals.

I'm not saying ML is useless, far from it, but this is reminding me a lot of Eric Yuan (the CEO of Zoom) talking about AI clones in meetings: https://www.youtube.com/watch?v=dKmAg4S2KeE