Five Reasons Not to Pass the Bonus Tax
I interviewed a retired hedge fund manager who voted for Barack Obama about the bonus tax last week. Here's what he said: Everyone is outraged by AIG’s actions, but the congressional response is problematic for the following reasons.
1. It is effectively revisionist history and makes it impossible for market participants to play by the rules as they can change, not only on a moment’s notice, but magically retroactively.
2. Bonuses such as those paid to Merrell Lynch employees in December would not be subject, but those banks such as BofA and J.P. Morgan, who pay on a February cycle would get hit. It's akin to performing delicate surgery with a hatchet and will unfairly blanket countless individuals who were in no way associated with AIG.
3. It will disincent firms that need capital from asking for government assistance.
4. It underscores concern in the private sector that we’re now living in the Wild West, which will slow private sector participation for fear of the government changing the rules as we go.
5. It will push talent out of the financial sector at the very time we need the best and brightest to navigate the storm.
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Is it "perverseness," the "death drive," or something else?
A growing body of research shows promising signs that the keto diet might be able to improve mental health.
- The keto diet is known to be an effective tool for weight loss, however its effects on mental health remain largely unclear.
- Recent studies suggests that the keto diet might be an effective tool for treating depression, and clearing up so-called "brain fog," though scientists caution more research is necessary before it can be recommended as a treatment.
- Any experiments with the keto diet are best done in conjunction with a doctor, considering some people face problems when transitioning to the low-carb diet.
It's up to us humans to re-humanize our world. An economy that prioritizes growth and profits over humanity has led to digital platforms that "strip the topsoil" of human behavior, whole industries, and the planet, giving less and less back. And only we can save us.
- It's an all-hands-on-deck moment in the arc of civilization.
- Everyone has a choice: Do you want to try to earn enough money to insulate yourself from the world you're creating— or do you want to make the world a place you don't have to insulate yourself from?
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