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"Econ 102" with Noah Smith and Erik Torenberg
Biden's New Tax Plan, Algorithmic Pricing, and Noah's Media Diet
May 10, 2024
Economics expert Noah Smith discusses Biden's tax plan, algorithmic pricing, and media diets. Topics include government deficits, capital gains tax, startup impacts, leftist activism, and Jeff Bezos's 'fuck you money'.
57:44
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Quick takeaways
- Biden's tax plan requires balancing spending and tax increases to avoid a sovereign debt default.
- Alternative tax strategies like progressive wage subsidies can mitigate job losses from technological advancements.
Deep dives
Impact of Government Borrowing and Deficits on the Economy
The podcast discusses the impact of government borrowing and deficits, highlighting that the United States government is borrowing money at an unprecedented rate relative to its economy. As interest rates rise, the government's interest costs increase rapidly. The need for austerity measures, including both spending cuts and tax increases, is emphasized to address the high spending and low tax situation.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode