A Social Wealth Fund for America by Matt Bruenig | The American Solidarity Fund

Thanks for watching everyone. Feel free to leave questions, comments, and your general thoughts about my analysis or this issue in the comments below.

#Policy #Norway #Economics

0:00 Introduction
2:14 The People’s Policy Project
2:59 Inequality & Social Wealth Funds
7:09 What are social wealth funds?
12:43 Sweden’s Failure
16:07 Norway’s Success
23:36 The Alaska Permanent Fund
35:24 Matt Bruenig’s Social Wealth Fund for America: The American Solidarity Fund

[TheGIGACapitalist]

The US is already approaching the top 10 globally, because of the AUM of its smaller wealth funds such as Alaska and Alabama. The problem is, due to how capital grows, they won't break into the top without massive inflows.

SWFs not only provide income but a substantial amount of power with proxy votes or even board representation. Allowing China to have the largest SWF AUM is a pretty under the radar political threat.

[schumanhuman]

I agree, too many taxes here displays a lack of clarity.

In his 2017 artIcle 'Nickel-and-dime socialism' he does mention LVT.

'2.7. Land value tax

As the Georgists have argued, land value is able to be easily seized (without distortion of any sort) by levying a tax equal in value to land rents. So, for instance, if we can determine that the annual rental value of a parcel of land is equal to $10, 000, we could in theory levy a $10, 000 tax on its owner without a problem. In so doing, we would effectively add the land to the social wealth fund, since the rent that flows to the land would become socialized.

We already have property taxes in this country (which levy a percentage of the value of the land and dwellings). This would basically be like that, but only levy on the value of the land rent, not the dwellings. In order to avoid harming incumbent landowners too much, we would want to phase the land value tax in over many years.'

Good but lacks imagination is is left too timid, perhaps that is why it is left out on the website? You can protect incumbent homeowners with equity bond buyouts (ala Taiwan's bloodless reveolution) and /or deferments on primary residence, economic justice should not be held hostage when it is clear in the data land value is such a large part of both total wealth and it's unequal distribution as well as land prices pivotal role in economic stability (ala 2008).

[IkeOkerekeNews]

34:59
Why can't it be both on the state and federal level?

[secondengineer]

In 20 years, when the a wallstreetbets guy is appointed Treasury Secretary and blows all of our Sovereign Wealth Fund on crypto, Econoboi can say "I told you so"

[kitrana]

you could give everyone 2k a month in the US on a 5% return rate on 500k for a total of like 165 million last time i looked at at US population data, 330 million if you wanted to keep half the interest to reinvest.

[whatsup]

I have a question does private colleges encourage quality due to competition, or is that a myth?if it's a myth then why private colleges r on the top list across the world? Pls, make a video about it

[secondengineer]

The leveraged purchases section seems a little scary. The "Everything Bubble" burst in 2022, when most securities returned to their pre 2021 levels. It seems like the leveraged purchases would seriously inflate the value of S&P 500 assets for a little while. The management of such a massive fund would need very very careful oversight

[parker]

As a Alaskan the statement "one of the most conservative states" is interesting. I feel like it's not so much that we're very conservative, but more that we don't really like the federal government telling us what to do.

I've always seen democrats in the federal government as bad, since they want to tell Alaskans how we should live without ever having lived in Alaska. I'm much more open to left wing policies coming from Juneau then from Washington, since if those policies don't work, we can democratically change them.

I mean, Alaska was the first state to pass civil rights laws protecting access to public accommodation, and the first state to legalize Marijuana for personal use in the home. That's not exactly conservative. As another example, we're perfectly happy with the permanent fund, since it's run by and for Alaskans, but I'd be strongly opposed to something like that being run by Washington.

[NobodyJones]

Im more in favor of severance taxes put on certain resources to build wealth for the fund, and on the voting matter i prefer to leave the voting to the private share holders and leaving the fund out of companies voting process. Also if your not going to give children a check maybe you can stash it in account payable to the child at 22 or something, maybe you take it out at 18 to help pay for college or something.