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All-In with Chamath, Jason, Sacks & Friedberg

E30: Ramifications of Biden's proposed capital gains tax hike, federal budget, India's COVID surge, founder psychology & more

All-In with Chamath, Jason, Sacks & Friedberg

All-In Podcast, LLC

Technology, Entrepreneurship, Business

4.010.4K Ratings

🗓️ 23 April 2021

⏱️ 84 minutes

🧾️ Download transcript

Summary

Follow the besties:

https://twitter.com/chamath

https://linktr.ee/calacanis

https://twitter.com/DavidSacks

https://twitter.com/friedberg

Follow the pod:

https://twitter.com/theallinpod

https://linktr.ee/allinpodcast

Intro Music Credit:

https://rb.gy/tppkzl

https://twitter.com/yung_spielburg

Referenced in the show:

Federal Net Outlays as Percent of GDP

https://fred.stlouisfed.org/series/FYONGDA188S

Wayback Machine / WhiteHouse.gov

https://web.archive.org/web/20010118204900/http://www1.whitehouse.gov

Reuters

https://www.reuters.com/business/healthcare-pharmaceuticals/india-posts-daily-rise-over-300000-covid-19-cases-record-death-toll-2021-04-22

Show Notes:

0:00 Intro

1:19 Biden's capital gains tax hike

21:33 Addressing the federal budget problems

42:16 Chauvin verdict, media coverage

50:06 Hulu WeWork documentary, Founder psychology

59:46 COVID surge in India

1:11:01 Poor media performance in 2021

Transcript

Click on a timestamp to play from that location

0:00.0

Shout out to a company saxon

0:20.6

I'm awake you

0:22.6

I'm done I quit I'll give a shout out to

0:24.9

R.F.E. which has got acquired by a

0:48.9

Hey everybody welcome to the All in podcast I'm Jason

0:52.5

Calacanus with us today the rainman himself calling in from an undisclosed location the Queen of Kenwa and of course the Dictator himself

1:01.4

Chimoff Polly, how about to you?

1:03.9

All right boys, how are we doing?

1:05.9

Feels low energy today. What's going on great? How are you? What's going on? Let's go. Let's do this. Let's do this. I love it

1:13.0

Let's go

1:15.0

All right, you're hot you're coming in hot. Well breaking news breaking news Biden has announced

1:23.7

His capital gains tax hike. I don't think this impacts any of us, but

1:29.4

I do will propose almost doubling the capital gains tax rate for wealthy individuals from 20% to

1:37.1

Not 25 not 28 39.6% to help pay for the social spending

1:43.3

And in

1:45.9

Equality for those earning one million or more so nobody on this call federal tax rates could be as high as 43.4% the capital gains increased would raise

1:55.1

$370 billion over a decade

1:57.3

Yada Yada for New Yorkers the combined state and federal capital gains rate could be as high as 52.22% and Californians

2:05.9

56.7% Biden has previously warned that those earning over 400,000 can expect to pay more in taxes

2:15.2

This was just breaking news a couple of hours before we started the pod

2:20.1

And the stock market is

2:23.0

Down

...

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