Probably my favorite guest so far. Well-informed, reasonable, logical, chill. I'll definitely be looking into his stuff and would love to see him invited back to discuss other related topics in the future.
Wow. I haven’t heard an argument like this that shifted my perspective so much. Like, I’ve always been in support of child welfare, lunches, daycare, etc., but the way that Matt explained it was spectacular. This needs to be boosted
Isn’t feudalism good though? 😏 The Vassals always get their fiefs. They seemed pretty happy. If they were angry with their Lord they could express that anger. Which is what the socialists wanted I thought
Isn’t feudalism good though? 😏 The Vassals always get their fiefs. They seemed pretty happy. If they were angry with their Lord they could express that anger. Which is what the socialists wanted I thought
You never thought of it because americans are terrified of free riders, even though they are statistically insignificant. You're scared of ten sketchy votes, but not a lying ass president, you're scared of welfare but not scared to pay people who are already rich. You're scared of immigrant criminals but not white collar criminals. If someone is "productive" in America, they can do whatever else they want. If they aren't, then they're the enemy.
Sam Seder has been saying it for decades. Destiny needs to stop dismissing the Majority Report as a bunch of crazy lefties who attack the candidate (they explicitly said to vote for Harris, BTW).
If I'm not mistaken his argument is basically a negative income tax. It's such a simple and elegant solution that even a libertarian like Milton Friedman was advocating for it. Edit: One other reason against means testing is that the kind of skills required to engage with bureaucracies to apply for different kinds of welfare are the same ones required to find work. In essence the system promotes a subsection of the population which will inevitably fall through the cracks.
@@testcase6997 dumb ppl think they have all the answers but they havent even begun to grasp the concept. (I am also dumb, but I dont pretend I am smart)
Steve: "I had to talk some friends out of financial decisions..." Steve on election night to xQc: "Not many things in life are gonna give you odds like that. You should triple down, for sure."
Bro, you're ruining what was fun about that whole thing. xQc asked Steve who he thought would win and he replied something like "I'm leaning towards Kamala" and xQc instantly bet $700k on Kamala.
Matt Bruenig is the kinda guy you just wish you could carry around in your pocket all day and bring out every time there is a question regarding labor, budgets, econ, ect... I hope we hear from him again on stream or another episode.
It's a great system. I remember hearing about the head of the tax administration bragging about how many people he could fire from increased tax productivity
My arc of finding out about Matt was seeing his wife Liz Bruenig (a journalist) on a philosophy podcast, checking out her website, and seeing at the bottom her short blurb about him plus a link to his website. Now that's a couple that knows how to do marketing!
Great episode! I looked into this guy's substack and he writes about interesting stuff. Definitely someone to follow if you're at all interested in labor issues.
Thanks for hosting this one Destiny. Matt Bruenig is a very well spoken, educated and professional person that being my impression by this conversation/discussion. This was very "kitchen table" in style making complex things very understandable. So I recommend everyone watch this to get a post graduate to plain speak education on very current, topical issues.
1:14:50 European Conspiracy Mind activated: Maybe not having the sales Tax already added on the Pricetag is to intentionally annoy people and to train them to hate taxes/ have strong negative feelings against them early on. As a European I also would start to hate taxes if I would have to consider them every single time I go shopping as part of a math problem. But because they are included already in the price here, I don't think about it most of the time
Not conspiratorial at all IMO. That's just basic incentive following for the owner class. We already see all the other ways the right trains Americans to hate taxes.
2:32:47 Destiny you kicked the Georgist Hornets nest. You've gotta get Lars Doucet on, he knows the nitty gritty of all of this. Video game designer too!
@MsNikeNike I would assume because they think it would be a flat tax on land, rather than what it would actually be a tax on the unimproved value of land.
@@tylerphuoc2653 Modern georgism encourages you to build on "good" land, not "bad" land, lol. It directly encourages "max efficiency" by forcibly removing property from the hands of owners who aren't efficiently/using that land to its full potential. Also, it doesnt work for anything that's not like essentially a city state.
I love Matt Bruenig's stuff, have been subscribing to the People's Policy Project on Patreon for a long while. Wish he had more public appearances like this, but just makes the few that he does into a special treat.
Is it bad for society if a government worker as competent as Matt was fired for calling someone a scumbag? Idk seems like this is the kinda tax policy nerd you want in the civil service lol
Especially because Neera Tanden is an incredible scumbag. The worst kind of Clinton surrogate that just ruthlessly attacks anyone trying to make the Democratic party successful and representative of the working class, instead of being a cash cow for those in DC.
His point about deficits and taxes was interesting. The part about 2h in where he talks about "tax the rich, don't borrow from them" and points out that deficits are funded by people with disposable income who make money from it, and he suggests increasing their taxes instead. A similar point i read probably 10 years ago was in the book "Capital in the 21st century", where the author describes the 19th century British economy. Wealthy Brits were making lots of money loaning money to the government and eventually, i believe it got flipped where the government decided to raise their taxes instead.
On discussion of wealth taxes I highly recommend checking out Glen Weyl, he has very interesting proposals to how wealth taxes can actually be used to create more efficient markets. I think he would be an excellent guest to have on Bridges especially while we are in this moment of political reflection, thinking about the best way forward.
Matt Bruenig is my spirit animal. They have had such a great assortment of guests, but I will 4ever be a NSEstan over this one. Great interview. Keep up the good work.
Here's another way to make taxes less toxic: In Sweden doing your taxes is REALLY easy. Most people just have to send a text message saying "agree" once a year. That's it.
Great episode, but a bit disapointed about the way Matt Bruenig described Norways handling of the oil resources and establishment of the wealth fund. The state's cooperation with private corporations and Norway buying into the risk of exploration through very specific tax incentives is something I wish he would elaborate on. As well as the establishment of Statoil
A very good point made at 57:00. Factor payments are good for allocating labor where we want it but they might not result in the allocation of income we want.
Kyla has been having issues in Canada with her Passport for like 2 weeks. She's waiting to get her passport back so she can come back in the US and has been bitching about it on her Reddit, lol.
the whole "incentive to work" arguement has always confused me. Like if you start getting $600 per month, you're just going to move into your parents basement and stop working. Would you quit working for even 2k per month? That's just enough to scrape by with no vacations or extras beyond food and gas. Even if you were given just enough to survive semi comfortably, what is the incentive to work? Its to have more money. You get to have a better life, more stuff, more vacations, etc. The essentials bonus is a gift to let you live, so you can work and spend that money on whatever makes you happy. If you happen to be happy with just the bare min and dont' need a car or door dash or iphones... then enjoy your free time! I don't care, thats great. Why force people to work? It takes nothing from you, it actually helps you by eliminating the competition for jobs and dates and lines places. Some people really don't wanna work, so don't make them. Give them enough to chill modestly and then you can work and live it up. You'll be fine. Who cares? Plus, you got one less scary homeless person eyeing the stereo in your Nissan Altima. Its better for you, so fighting against giving people stuff is just being a jerk- an insecure one who can't win without kneecapping the competition. That's pathetic, and its obvious. And me and all the other girls all think so.
Easily one my favorites guests Modern application of marx ideas but able to explain them in simple but effective ways. Destiny should consider this guy in his media company. heavy weight
2:32:20 An interesting solution to the valuation problem is to have it be self assessed with one caveat: If you assess your property to be x amount, you will be legally obligated to sell your property at that amount to whoever makes an offer. This would also make the market more efficient and get rid of problems like people doing lengthy legal proceedings when the state needs to do something like build a high speed rail line through someones land. Instead of eminent domain they could just buy the land at what the owner assessed its value to be.
This convo convinced me that left wing politics is just kinda common sense and the fact that we can’t get over red scare propaganda says less about “socialist” policy and more about public opinion being shaped by clever billionaire criminals
1:53:07 I wonder if there’s a value in a sort of “health welfare” system that incentives/supports people being healthier in their earlier years that could even pay dividends in later years via greater longevity in the workforce and/or less expensive senior healthcare
this was talked a lot about back during the medicare for all days, "Health Justice" was the name I had usually seen for it. The idea was once the government is paying the bill they're now incentivized to do lots of preventive care to bring down costs, and since they're the government the types of preventive care they can be doing is potentially enormous.
I think Matt was not giving the MMT crowd a fair shake. MMT does not say that debt doesn't matter, it rather says that the actual total amount does not matter. And you should rather see it as a function of debt to productivity and unemployment. There is a German RUclipsr Maurice höfgen who explains it very well. But sadly more in the context of the German economy, and his channel is fully in German. But maybe some German viewers might be interested.
@JohnDorian-j7x MMT doesn't even give any policy. It's just a framework to understand macroecon. It's like saying gravity is trash unless it's used very little in a large orbit around the sun. It makes no sense. People think MMT is just printing money, which is it not. There is a place and a time to do so and there is a time and a place to not. But it's main component says, that a larger debt will not automatically increase inflation. And that a government (with its own currency) does not need to collect taxes to fund whatever it wants.
@@DarkR3ignlol No its not. It gives prescriptions. Suggesting that you can just print and print and print to deal with funding shorfalls is NOT founded "gravity" based physics. MMT does not work, full stop. Or, at least, the math is bad. If MMT was true, all the countries that came into 1000%s upon 1000%s of inflation and crashed, would never have occurred. The theory of MMT does NOT WORK unless the economy is relatively well managed and high level economy that's constantly attracting investment. And when you say "There is a place and a time to do so and there is a time and a place to not", thats specifically why I said "unless its used at an extremely low level in an extremely well run economy". If you don't have both of those things, then MMT doesn't work on any sort of scale. This "But it's main component says, that a larger debt will not automatically increase inflation" is/can be somewhat/nominally true... however... this "a government (with its own currency) does not need to collect taxes to fund whatever it wants" is NOT true for anything beyond a few years here and there. You can NOT just continue to print your way through everything for all time. Period. Its absurd to say.
@@DarkR3ignlol MMT is fairy dust. They're right that the government can avoid defaulting on debt by issuing new currency, but a necessary consequence of that is inflation.
Wish destiny had debated matt on his vision of socialism. He’s been ferociously anti socialist and then he just agrees with him on all of it here lol. Econoboi debated matt on it if anyone’s interested. Good convo though
@@tropinnka On Destiny's schedule he has Matt Bruenig written on the 28th, for 2 hours. I don't know what exactly that will entail but hopefully a proper debate. Would be super fun. Matt doesn't seem to do many debates but from the few I've seen he seems decent at it.
Well Destiny seems to think market socialists aren’t real socialists (which is odd because the first people to ever call themselves socialists were in fact market socialists), so I don’t think he even considers Matt a real socialist. On the economics points I doubt he’d be able to offer much pushback because Matt definitely seems more knowledgeable.
@@2vexy Who cares who the "first socialists were" in contemporary terms...Matt is a Social Democrat, he just is. Most simply evidenced by the fact that he wants to model Nordic countries who are explicitly not socialists... Destiny's biggest arguments with Socialists are over their anti-market views, but if you concede that markets are a very critical and powerful force (if managed appropriately, i.e. not like libertarians would) then there is a lot less to argue over...
Destiny was refering to the Ontario Teachers Fund, which has offices in singapore and is one of the most profitable pension fund in North America, if not the world.
Hey pro tip, on my youtube app on my iphone, the bottom right corner of the thumbnail/video preview is obscured by the video's time length. I would refrain from putting any information RIGHT in that spot. Currently the number of the bridges episode is obscured by the time for me. Certainly not a pressing issue, but also you may have baited me into clicking on the video and commenting about it, so if that was your goal then gj!
the unemployment rate is higher in sweden than the USA. From what i understood is that unemployment rate is super high in sweden due to paid maternity leave benefits being so good. I am missing something?
"they view tax as a punishment" Yes, this is exactly the issue I see with many on the left and right. I fear many leftists have negatively polarized themselves against taxation on anyone but billionaires. We're not going to get the social welfare we want with that type of thinking.
when it comes to unemployement, as someone who changed careers in my late 20's, the thing that has destroyed my market is the high interest rates. I changed to tech in 2020 and it was good for a year when i did my apprenticeship and now there are no jobs for entry level candidates. So now, im fucked, i have to either go back to my old career and settle or do a bunch of random part time gigs until i hopefully make it back into that sector that is now doing horribly
Sweden’s top personal tax rate of 52.3 percent applies to all income over 1.1 times the average national income. In comparison, the United States levies its top personal income tax rate of 43.7 percent (federal and state combined) at 8.5 times the average U.S. income (at around $530,000). Don't forget VAT tax
A 52.3% effective personal tax rate starting for people that make just 10% above the average nat'l income is literally INSANE. I'm not saying we shouldn't/couldn't increase America's effective tax rates... but taxing someone at such insanely high levels for such relatively "mediocre" income levels is insanity. I don't care how rich you are, the government should never take more than half of your income... and especially not a regular schegular joe making 10 or even 20% above the average level of income. CRAZY.
Yeah this is not as universal as they seem to think, although it's typical afaik, especially if you count cities where the general public transit serves kids.
Matt Groening is like 150 years older than this matt. I am pretty sure they've transferred his consciousness into an ai chatbot who's sole purpose is to write new episodes of the Simpsons
Bridges has been such a success in terms of discourse quality
Whats with that guys face? Looks like easter island monolith
@@brian8507
Don't be mean lmao
@@OlaAremu bro I nailed it lmao 🤣
@@brian8507 Glad we have Brian to make sure the discourse isn't too productive/healthy. Thanks, Brian
@@maxsilbert bro I am spot on lmao
Probably my favorite guest so far. Well-informed, reasonable, logical, chill. I'll definitely be looking into his stuff and would love to see him invited back to discuss other related topics in the future.
My boy wicked smaht.
Matt is great, everytime i come across a twitter thread or article he wrote its alway great
Wow. I haven’t heard an argument like this that shifted my perspective so much. Like, I’ve always been in support of child welfare, lunches, daycare, etc., but the way that Matt explained it was spectacular. This needs to be boosted
I read this and thought he was going to argue against those things. Lol.
I'm confused. I'm an hour in and this socialist guy hasn't mentioned feudalism once???
😂
@@Ennselo Yes. I can see mark too. On drugs maybe? IDK. Very Funny.
Isn’t feudalism good though? 😏 The Vassals always get their fiefs. They seemed pretty happy. If they were angry with their Lord they could express that anger. Which is what the socialists wanted I thought
Isn’t feudalism good though? 😏 The Vassals always get their fiefs. They seemed pretty happy. If they were angry with their Lord they could express that anger. Which is what the socialists wanted I thought
The Vassals will always get their Fiefs
- Karl Marx
I've been waiting for this colab for 6 years
I love seeing these guests bring the best out of Steve. Matt was wonderful. I want a part 2.
Someone else in the comments said Destiny has Matt scheduled for a two hour debate or discussion on November 28th (Thanksgiving).
That means testing argument is so fucking crazy. I think he fully changed my mind. How have I never thought of that? It's so simple.
You never thought of it because americans are terrified of free riders, even though they are statistically insignificant.
You're scared of ten sketchy votes, but not a lying ass president, you're scared of welfare but not scared to pay people who are already rich. You're scared of immigrant criminals but not white collar criminals.
If someone is "productive" in America, they can do whatever else they want. If they aren't, then they're the enemy.
Timestamp?
@@Snekmenn 2:14:39 starts there
Sam Seder has been saying it for decades. Destiny needs to stop dismissing the Majority Report as a bunch of crazy lefties who attack the candidate (they explicitly said to vote for Harris, BTW).
If I'm not mistaken his argument is basically a negative income tax. It's such a simple and elegant solution that even a libertarian like Milton Friedman was advocating for it.
Edit: One other reason against means testing is that the kind of skills required to engage with bureaucracies to apply for different kinds of welfare are the same ones required to find work. In essence the system promotes a subsection of the population which will inevitably fall through the cracks.
his point on unemployment was *chefs kiss*
Same with the price floor problem with tarriffs because domestic businesses will just match the prices of imported products.
@@testcase6997 dumb ppl think they have all the answers but they havent even begun to grasp the concept. (I am also dumb, but I dont pretend I am smart)
I can't believe I allowed Bruenig to slip out of my RUclips content radar. Thanks for reintroducing me to him. :)
He did some talks with econoboi that are really good
@@NobodyJones I haven't watched content related to him since the Matt Bruenig v. Yaron Brooks debate. What are the econoboi collabs called?
@FrivolousFrog-r5h ruclips.net/video/CPu7ne8tpV8/видео.htmlsi=-bYE5UNUyj37RsGN
@@FrivolousFrog-r5h Discussing & Debating Socialism w/Matt Bruenig
Uhhh... I think this guy shifted my perspective on basically everything.
I have a lot to think about and research.
That's good. Wait till you turn 20. Exciting road ahead!
For sure the best guest so far 10/10
Steve: "I had to talk some friends out of financial decisions..."
Steve on election night to xQc: "Not many things in life are gonna give you odds like that. You should triple down, for sure."
Bro, you're ruining what was fun about that whole thing. xQc asked Steve who he thought would win and he replied something like "I'm leaning towards Kamala" and xQc instantly bet $700k on Kamala.
Matt Bruenig is the kinda guy you just wish you could carry around in your pocket all day and bring out every time there is a question regarding labor, budgets, econ, ect... I hope we hear from him again on stream or another episode.
Someone else in the comments said Destiny has Matt scheduled for a two hour debate or discussion on November 28th (Thanksgiving).
Bruenig is brilliant! Listened on Spotify already and happily listening again
It's so strange to hear someone explain the Faroe Island tax system as a native. Matt Bruenig knowing about our small "Country" is pretty cool.
It's a great system. I remember hearing about the head of the tax administration bragging about how many people he could fire from increased tax productivity
@@nickip8487 fire= free up high value knowledge workers from zero value bureaucratic jobs to go create value in the economy
Damn, Bruenig can't stop grinding. he spent the entire conversation rowing under the table.
I would guess it is some sort of Stimming
Damn, surprised this crossover took so damn long.
I wasn't familiar with Matt, I really enjoyed this conversation.
My arc of finding out about Matt was seeing his wife Liz Bruenig (a journalist) on a philosophy podcast, checking out her website, and seeing at the bottom her short blurb about him plus a link to his website. Now that's a couple that knows how to do marketing!
I squealed and pissed a little when I saw Matt Bruenig's name
after watching, this is an understandable reaction
😂😂😂
Great episode! I looked into this guy's substack and he writes about interesting stuff. Definitely someone to follow if you're at all interested in labor issues.
He has a blog too (not on substack) that has a lot of great pieces
Thanks for hosting this one Destiny. Matt Bruenig is a very well spoken, educated and professional person that being my impression by this conversation/discussion. This was very "kitchen table" in style making complex things very understandable. So I recommend everyone watch this to get a post graduate to plain speak education on very current, topical issues.
What a fantastic conversation.
Loved this episode 👏 super engaging convo
Good to see Matt getting some recognition, I learned a lot from him.
1:14:50
European Conspiracy Mind activated: Maybe not having the sales Tax already added on the Pricetag is to intentionally annoy people and to train them to hate taxes/ have strong negative feelings against them early on. As a European I also would start to hate taxes if I would have to consider them every single time I go shopping as part of a math problem. But because they are included already in the price here, I don't think about it most of the time
Not conspiratorial at all IMO. That's just basic incentive following for the owner class. We already see all the other ways the right trains Americans to hate taxes.
Really interesting point about government debt being a regressive handout. I never thought about it that way before.
2:32:47 Destiny you kicked the Georgist Hornets nest. You've gotta get Lars Doucet on, he knows the nitty gritty of all of this. Video game designer too!
Georgism is dhuhmbh for any country that's not a city state, lol
@@JohnDorian-j7xmay I ask why?
@MsNikeNike I would assume because they think it would be a flat tax on land, rather than what it would actually be a tax on the unimproved value of land.
@@JohnDorian-j7x modern georgism is just encouraging you to actually build on bad or forgotten land so you can make your money back
@@tylerphuoc2653 Modern georgism encourages you to build on "good" land, not "bad" land, lol. It directly encourages "max efficiency" by forcibly removing property from the hands of owners who aren't efficiently/using that land to its full potential. Also, it doesnt work for anything that's not like essentially a city state.
I love Matt Bruenig's stuff, have been subscribing to the People's Policy Project on Patreon for a long while. Wish he had more public appearances like this, but just makes the few that he does into a special treat.
Not a big deal but if you can switch from patreon to act blue for paying PPP it saves a good amount of credit card fees
Thanks!
It's funny how Steve really rises or falls to the level of the person he talks to. This is excellent!
matt if you’re reading this come to bluesky pls
Is it bad for society if a government worker as competent as Matt was fired for calling someone a scumbag?
Idk seems like this is the kinda tax policy nerd you want in the civil service lol
Especially because Neera Tanden is an incredible scumbag. The worst kind of Clinton surrogate that just ruthlessly attacks anyone trying to make the Democratic party successful and representative of the working class, instead of being a cash cow for those in DC.
Matt is the best.
Pretty sure this is my 1st time seeing this guy, loved every minute!
My boy looks good with that shirt!!!
It's just a blue t shirt
His point about deficits and taxes was interesting. The part about 2h in where he talks about "tax the rich, don't borrow from them" and points out that deficits are funded by people with disposable income who make money from it, and he suggests increasing their taxes instead.
A similar point i read probably 10 years ago was in the book "Capital in the 21st century", where the author describes the 19th century British economy. Wealthy Brits were making lots of money loaning money to the government and eventually, i believe it got flipped where the government decided to raise their taxes instead.
Really great convo imo, one of my fav guests
YES
More like this! PLEASE
Probably my favorite episode so far, great listen!
On discussion of wealth taxes I highly recommend checking out Glen Weyl, he has very interesting proposals to how wealth taxes can actually be used to create more efficient markets. I think he would be an excellent guest to have on Bridges especially while we are in this moment of political reflection, thinking about the best way forward.
Pretend this comment is 5 billion upvotes
Count the times Destiny says something equivalent to “one thing that’s frustrating”
Bruenig Bridges
I'm sorry but Matt has to come back and you guys really need to explore the socialism v capitalism thing.
Excellent guest and great discussion. Learned so much listening to this.
Fuck yea, stats. Non ironically this shit is dope as hell
Some of these concepts are fascinating. I really liked the arguments for dropping means testing and just recovering it via taxes.
excellent guest
I really enjoyed this convo and the conversations bridges is presenting
Matt Bruenig is my spirit animal. They have had such a great assortment of guests, but I will 4ever be a NSEstan over this one. Great interview. Keep up the good work.
Here's another way to make taxes less toxic: In Sweden doing your taxes is REALLY easy. Most people just have to send a text message saying "agree" once a year. That's it.
That was interesting. I'm looking forward to Round 2! 😉
Damn did Matt drop a bunch of weight recently? lookin' good I thought he was a burley boy
My dude basically got his 10,000 steps in fidgeting under the table.
Good conversation though!
1:58:53 Wtf his shirt is on FIRE!! 🔥
One of the best episodes so far!! Well done!!
Lovely convo, but now I'm getting recommended a bunch of videos on Marx and communism.
Good luck
Watch them
Great episode, but a bit disapointed about the way Matt Bruenig described Norways handling of the oil resources and establishment of the wealth fund. The state's cooperation with private corporations and Norway buying into the risk of exploration through very specific tax incentives is something I wish he would elaborate on. As well as the establishment of Statoil
A very good point made at 57:00. Factor payments are good for allocating labor where we want it but they might not result in the allocation of income we want.
I agree with this guy a shocking amount
Very happy with this discussion. Anyone know why Kyla wasn't present?
Kyla has been having issues in Canada with her Passport for like 2 weeks. She's waiting to get her passport back so she can come back in the US and has been bitching about it on her Reddit, lol.
the whole "incentive to work" arguement has always confused me. Like if you start getting $600 per month, you're just going to move into your parents basement and stop working.
Would you quit working for even 2k per month? That's just enough to scrape by with no vacations or extras beyond food and gas. Even if you were given just enough to survive semi comfortably, what is the incentive to work? Its to have more money. You get to have a better life, more stuff, more vacations, etc. The essentials bonus is a gift to let you live, so you can work and spend that money on whatever makes you happy. If you happen to be happy with just the bare min and dont' need a car or door dash or iphones... then enjoy your free time! I don't care, thats great. Why force people to work? It takes nothing from you, it actually helps you by eliminating the competition for jobs and dates and lines places. Some people really don't wanna work, so don't make them. Give them enough to chill modestly and then you can work and live it up. You'll be fine. Who cares? Plus, you got one less scary homeless person eyeing the stereo in your Nissan Altima. Its better for you, so fighting against giving people stuff is just being a jerk- an insecure one who can't win without kneecapping the competition. That's pathetic, and its obvious. And me and all the other girls all think so.
Easily one my favorites guests Modern application of marx ideas but able to explain them in simple but effective ways. Destiny should consider this guy in his media company. heavy weight
One of my favorite episodes thus far, love this!
2:32:20 An interesting solution to the valuation problem is to have it be self assessed with one caveat: If you assess your property to be x amount, you will be legally obligated to sell your property at that amount to whoever makes an offer. This would also make the market more efficient and get rid of problems like people doing lengthy legal proceedings when the state needs to do something like build a high speed rail line through someones land. Instead of eminent domain they could just buy the land at what the owner assessed its value to be.
Harberger tax is the name you’re looking for!
where is kyla in this one
This convo convinced me that left wing politics is just kinda common sense and the fact that we can’t get over red scare propaganda says less about “socialist” policy and more about public opinion being shaped by clever billionaire criminals
1:53:07 I wonder if there’s a value in a sort of “health welfare” system that incentives/supports people being healthier in their earlier years that could even pay dividends in later years via greater longevity in the workforce and/or less expensive senior healthcare
this was talked a lot about back during the medicare for all days, "Health Justice" was the name I had usually seen for it. The idea was once the government is paying the bill they're now incentivized to do lots of preventive care to bring down costs, and since they're the government the types of preventive care they can be doing is potentially enormous.
@ that’s a sick idea (pun intended), I gotta look into it more
I think Matt was not giving the MMT crowd a fair shake. MMT does not say that debt doesn't matter, it rather says that the actual total amount does not matter. And you should rather see it as a function of debt to productivity and unemployment.
There is a German RUclipsr Maurice höfgen who explains it very well. But sadly more in the context of the German economy, and his channel is fully in German. But maybe some German viewers might be interested.
MMT is trash unless its used at an extremely low level in an extremely well run economy
@JohnDorian-j7x MMT doesn't even give any policy.
It's just a framework to understand macroecon.
It's like saying gravity is trash unless it's used very little in a large orbit around the sun. It makes no sense.
People think MMT is just printing money, which is it not. There is a place and a time to do so and there is a time and a place to not.
But it's main component says, that a larger debt will not automatically increase inflation. And that a government (with its own currency) does not need to collect taxes to fund whatever it wants.
@@DarkR3ignlol No its not. It gives prescriptions. Suggesting that you can just print and print and print to deal with funding shorfalls is NOT founded "gravity" based physics. MMT does not work, full stop. Or, at least, the math is bad. If MMT was true, all the countries that came into 1000%s upon 1000%s of inflation and crashed, would never have occurred. The theory of MMT does NOT WORK unless the economy is relatively well managed and high level economy that's constantly attracting investment.
And when you say "There is a place and a time to do so and there is a time and a place to not", thats specifically why I said "unless its used at an extremely low level in an extremely well run economy". If you don't have both of those things, then MMT doesn't work on any sort of scale. This "But it's main component says, that a larger debt will not automatically increase inflation" is/can be somewhat/nominally true... however... this "a government (with its own currency) does not need to collect taxes to fund whatever it wants" is NOT true for anything beyond a few years here and there. You can NOT just continue to print your way through everything for all time. Period. Its absurd to say.
@@DarkR3ignlol MMT is fairy dust. They're right that the government can avoid defaulting on debt by issuing new currency, but a necessary consequence of that is inflation.
excited to listen to this!
Awesome episode, well done.
The nerdcore Vaush and QXC are my favorites but this guy is pretty cool
The new outro is clean
GEORGISM MENTIONED 2:30:01
Where Kyla?
Kyla is a woman's name
She quit. Destiny is replacing her with Dan.
@@BalthasarGelt-x2d oh no. For real? I like Dan on AE but I feel like he'd kinda suck on bridges.
Wish destiny had debated matt on his vision of socialism. He’s been ferociously anti socialist and then he just agrees with him on all of it here lol. Econoboi debated matt on it if anyone’s interested. Good convo though
Bridges is not a debate platform but I’d love for them to actually debate
@@tropinnka On Destiny's schedule he has Matt Bruenig written on the 28th, for 2 hours. I don't know what exactly that will entail but hopefully a proper debate. Would be super fun. Matt doesn't seem to do many debates but from the few I've seen he seems decent at it.
Well Destiny seems to think market socialists aren’t real socialists (which is odd because the first people to ever call themselves socialists were in fact market socialists), so I don’t think he even considers Matt a real socialist. On the economics points I doubt he’d be able to offer much pushback because Matt definitely seems more knowledgeable.
@@2vexy Who cares who the "first socialists were" in contemporary terms...Matt is a Social Democrat, he just is. Most simply evidenced by the fact that he wants to model Nordic countries who are explicitly not socialists...
Destiny's biggest arguments with Socialists are over their anti-market views, but if you concede that markets are a very critical and powerful force (if managed appropriately, i.e. not like libertarians would) then there is a lot less to argue over...
@@ronpudding9598 Thanks for the heads up.
excellent conversation
Finally a real policy wonk haha
This. Is. REALLY. Good.
Destiny was refering to the Ontario Teachers Fund, which has offices in singapore and is one of the most profitable pension fund in North America, if not the world.
Hey pro tip, on my youtube app on my iphone, the bottom right corner of the thumbnail/video preview is obscured by the video's time length. I would refrain from putting any information RIGHT in that spot. Currently the number of the bridges episode is obscured by the time for me. Certainly not a pressing issue, but also you may have baited me into clicking on the video and commenting about it, so if that was your goal then gj!
He looks like Fry from Futurama
good conversation, Destiny mentioned the teacher's pension fund and that is true and in Canada.
I hit subscribe on Bridges. Big disagreements with Destiny but very happy you had on comrade Bruenig.
GEORGEISM MENTIONED. TINY THE GOAT
Need more left wing economics in the Democratic party asap.
More like this 1 on 1 pls
Great guest. I hope destiny talks to more people in this vein
the unemployment rate is higher in sweden than the USA. From what i understood is that unemployment rate is super high in sweden due to paid maternity leave benefits being so good. I am missing something?
Dude is a doppelganger of Toby from the office!
Get Hank Green on!
"they view tax as a punishment"
Yes, this is exactly the issue I see with many on the left and right. I fear many leftists have negatively polarized themselves against taxation on anyone but billionaires. We're not going to get the social welfare we want with that type of thinking.
when it comes to unemployement, as someone who changed careers in my late 20's, the thing that has destroyed my market is the high interest rates. I changed to tech in 2020 and it was good for a year when i did my apprenticeship and now there are no jobs for entry level candidates. So now, im fucked, i have to either go back to my old career and settle or do a bunch of random part time gigs until i hopefully make it back into that sector that is now doing horribly
Sweden’s top personal tax rate of 52.3 percent applies to all income over 1.1 times the average national income.
In comparison, the United States levies its top personal income tax rate of 43.7 percent (federal and state combined) at 8.5 times the average U.S. income (at around $530,000). Don't forget VAT tax
A 52.3% effective personal tax rate starting for people that make just 10% above the average nat'l income is literally INSANE. I'm not saying we shouldn't/couldn't increase America's effective tax rates... but taxing someone at such insanely high levels for such relatively "mediocre" income levels is insanity. I don't care how rich you are, the government should never take more than half of your income... and especially not a regular schegular joe making 10 or even 20% above the average level of income. CRAZY.
bro rowing a boat under there
If you americans don't want Matt, us europeans would take him gladly.
I seen a guy turn himself in at 6 am for court, then pull a cig & lighter out of his purse at 8am 😂
1:24:00 My school bus was not free.
You had to buy a bus pass for the year if you were going to take it.
Yeah this is not as universal as they seem to think, although it's typical afaik, especially if you count cities where the general public transit serves kids.
Between Matt's "Attack on Titan"-mouth and Destiny's coke jaw, there's some strong mouth game here.
Matt looks like he lost 70lbs he looks fantastic
can't believe he forgot to mention he is th CREATOR OF THE GODDAN SIMPSONS!!
Matt Groening is like 150 years older than this matt. I am pretty sure they've transferred his consciousness into an ai chatbot who's sole purpose is to write new episodes of the Simpsons
@@FarmerClarence something got lost in the transformation process, sadly.
@@lazyvault39 I would definitely agree. Good show writers require soul, which is a variable we have yet to quantify.
what a great fucking conversation. Thanks for this one. Yes, please feed the kids