Elizabeth Warren says her wealth tax will "rebuild America's middle class." Amusingly enough, that's true! The reason the middle class has been shrinking is not because more people are becoming poor, but because more are becoming rich. Her tax will reverse that trend.

@paulg I know you are against it, but I personally have trouble arguing why a tax that kicks in at net worths over $50M impacts the above trend. A founder walking away with over $50M from a startup is an incredibly rare outcome, and I'm confused who would be discouraged as a result?

@eerac @paulg Once you move beyond the level of what can be personally consumed, it is now about capital allocation efficiency. The government is about an order of magnitude worse than the private sector.

@eerac @paulg There are two modern examples (Germany and Korea) where people were in essentially the same starting position, but the country got split along an arbitrary line. One side went full government (communism), the other side went about half government. A few decades later, the…

@elonmusk @eerac @paulg Communism was not the reason, dictatorship and lack of freedom was.