BuildTheFund @BuildTheFund
Joined July 2024-
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@NielsPlanel @sciencespo Great panel and a bold set of new ideas
"New billionaires accumulated more wealth through inheritance than entrepreneurship. That’s a theme we expect to see more of over the next 20 to 30 years, as more than 1,000 billionaires pass an estimated $5.2tn to their children" ft.com/content/394423… via @ft
Brad, if @InvestAmerica24 moves to loans instead of grants (i.e. birthright bonds) we can start building a fund (ahem) that replenishes itself and reduces taxes once it goes big. It's worth a try - some states might be interested to pilot. I am looking into it.
1979. Feels nostalgic. The deficit that yr was $28B and the total natl debt was $827B. Today the deficit is $2T and the debt $36T. And total tax burden (Fed, State, Local) for many is > 50% rather than 40%. Milton would have 🤍 @DOGE.
Another good example from PA!
Invest with 𝐈𝐍𝐕𝐄𝐒𝐓 📈 Nonprofits, municipalities and school districts can take advantage of a family of highly rated investment pools offered by the Pennsylvania Treasury. No minimum balance required. ℹ️ Find out more ➡ patreasury.gov/invest/index.p…
One excellent place to start a birthright bond program could be Pennsylvania! This state is conservative in spending your tax dollars, but generous too. PA knows the value of investing early.
Is your child or grandchild under the age of five? If so, they automatically have $100 waiting for them to start saving for their future education! Learn more about Keystone Scholars ➡️ pa529.com/keystone/
We need concrete ideas like Birthright Bonds (not equal to baby bonds) to reduce social taxes while increasing social benefits through markets.
milton friedman's estimation - the fundamental function of government can be restored while reducing spending 2/3 (& implies taxes can be cut in half, gov assets can be sold off, and debt will decline). economic theory = social programs will improve w market-driven solutions
@friedberg Hi David - this is exactly what Birthright Bonds do - a fiscally conservative alternative to baby bonds. Invest America is great too but I think we can do it better and bigger with a loan than a grant. Take 10min on my page and see if you want to have a chat on this idea!
We can complement social security and reduce costs - and taxes - over time with birthright bonds. We need to start talking real solutions.
Social Security is by far the largest federal government spending program. The latest trustees report shows the program is on a fiscally unsustainable path that will exacerbate the US debt crisis if its imbalances are not addressed in the near term. hubs.ly/Q02Y5GT50
@BernieSanders Bernie, growing wealth inequality is a problem in America. But don’t blame those who build great things and earn it. Separate earned from unearned wealth - income from inheritance taxes - and we have something to talk about.
Great, let’s cut spending AND improve benefits with birthright bonds!
Woodrow Wilson to FDR to LBJ to Nixon - all expanded the federal government. We now have a once-in-a-generation opportunity to fix a century-long problem.
Conservatives support social safety nets. Birthright bonds make them cheaper to taxpayers and improve benefits to people. Let's find the bipartisan support and make it happen.
Missouri, a conservative state, raised the minimum wage to $15/hr. Nebraska, a conservative state, passed paid sick leave. Arizona, a conservative state, enshrined abortion access in its constitution. People across the political spectrum support these popular policies.
Fiscal pressures may push lawmakers toward tax reform that promotes economic growth and stability, or they could lead to harmful budget gimmicks. It’s crucial to prioritize sound reform over the latter. Read more: hubs.ly/Q02Y7WNr0 @EconoWill @ericadyork @GS_Watson
@VivekGRamaswamy I'm ready for the call - if we are serious ! To slash the social budget by 90% over the next 30 years by building a birthright bond trust fund We'll build individual assets at birth through capital *loans* for citizens without inheritances @doge @elonmusk
@elonmusk Feeling like a broken record but hey we’ve got to do this. There is no better way to reduce social costs in the US than giving some capital at birth and letting it grow in the market instead of taxing and redistributing income decades later. Birthright bonds!
Congratulations Senator Thune. Let’s take this moment to solve social security by giving it a better future with birthright bonds.
Just got off the phone with @realDonaldTrump. Senate Republicans are excited and ready to get to work implementing President Trump’s agenda on behalf of the American people.
@VivekGRamaswamy Let’s cut social spending by investing in Americans at birth to grow their safety net in the strength of our markets not to he strengthen of our taxes.
Cutting spending is a key priority for the next Administration. Why not cut spending and improve benefits in one fell swoop with birthright bonds?
Here you go @elonmusk and @VivekGRamaswamy. You can use this as inspiration to combat government waste through DOGE. paul.senate.gov/wastereport/
We need to lower spending by spending smarter. We need leaders who govern with minds open to the best new ideas. Ideas that bring down costs while bringing up benefits. We need birthright bonds.
All the more reason we need our approach to improving social security with more fiscal responsibility.
Trump’s landslide victory signals a conservative mandate – the #LeaveUsAlone Podcast with @GroverNorquist breaks down what happens next! atr.org/leave-us-alone…
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