Rich people don't move when their taxes go up

In Millionaire Migration and the Taxation of the Elite: Evidence from Administrative Data, Stanford sociologist Cristobal Young builds on his substantial research on "millionaire migration," to show that only a small minority of millionaires move when local taxes go up -- far too few to represent a net loss to the tax coffers. Read the rest

Chelsea Clinton's husband shuts down vulture fund after losing 90% of his investors' money

Chelsea Clinton's husband Marc Mezvinsky is a Goldman Sachs alumnus; in 2014, he founded Hellenic Opportunity, a hedge fund that raised $25M to bet on distressed assets from Greece's collapsed economy, wagering that the country's investors would force it to make deeper cuts to finance payments on the debts. Read the rest

Burning Man for rich spectators

Further Future is a desert festival created by wealthy Burning Man attendees who want to get rid of the festival's DIY/participatory ethic and replace it with a pampered weekend where poor people wait on them while they strut around the desert, "networking." Read the rest

Lady Liberty arrested at US Capitol with 400 others protesting money in politics

Journalist Alejandro Alvarez took this striking photo of a campaign finance reform activist being arrested at a Democracy Spring demonstration at the US Capitol yesterday. Read the rest

Mass arrests at DC protest over money in politics

At least 400 people were arrested at a Democracy Spring demonstration at the US Capitol yesterday. The protesters were calling for controls on the influence of big money over politics. Read the rest

A cashless society as a tool for censorship and social control

The Atlantic had the excellent idea of commissioning Sarah Jeong, one of the most astute technology commentators on the Internet (previously), to write a series of articles about the social implications of technological change: first up is an excellent, thoughtful, thorough story on the ways that the "cashless society" is being designed to force all transactions through a small number of bottlenecks that states can use to control behavior and censor unpopular political views. Read the rest

As criminal justice reform looms, private prison companies get into immigration detention, halfway houses, electronic monitoring, mental health

Nixon's War on Drugs, Reagan's three strikes rules, and Clinton's "superpredator" crime bill turned America into history's greatest imprisoner, a carceral state where a racially biased justice system was made worse with every passing day, thanks to the campaign contributions and lobbying by the private prison industry, led by Corrections Corporation of America. Read the rest

After we make peace with robots doing all the work, will our lives have meaning?

Philosopher John Danaher's new paper "Will life be worth living in a world without work? Technological Unemployment and the Meaning of Life" assumes that after the robots take all our jobs, and after the economic justice of figuring out how to share the productivity games can be equitably shared among the robot-owning investor class and the robot-displaced 99%, there will still be a burning question: what will give our life meaning? Read the rest

Chinese millionaire sues himself through an offshore shell company to beat currency export controls

China's millionaires, having looted their country, are anxious to get their money out of reach of the Politburo, to guard against confiscation should the political tides turn. Only one problem: the government will only let Chinese nationals move $50K/year out of the country. Read the rest

Review of Michael Moore's "Where to Invade Next," a movie about people being good

Jon Schwarz, a former Moore staffer, reviews Michael Moore's first movie in six years, "Where to Invade Next," which Schwarz calls Moore's "most subversive movie." Read the rest

Tim O'Reilly schools Paul Graham on inequality

Y Combinator founder and essayist Paul Graham's essay on the inevitability -- and desirability -- of income inequality sparked many scathing rebuttals, some of them quite brilliant, but the best so far comes from Tim O'Reilly, one of technology's towering figures. Read the rest

A survivalist on why you shouldn't bug out

Seven years ago, Alex Steffen and I proposed that rather than preparing "bug out bags" you can grab and go with after the apocalypse, we should all have "bug-in bags" full of things we'll use to help our neighbors when the lights go out. Read the rest

The more unequal your society is, the more your laws will favor the rich

Political scientists and economists who've undertaken peer-reviewed research into policy outcomes have concluded that all over the world, and at every level of government, wealth inequality is correlated with corrupt policy-making in which politicians create laws and regulations that favor the rich at the expense of the wider public. Read the rest

Some suggestions for sad, rich people

The Guardian's story about wealth therapists, who help one percenters cope with the stress of being rich in an era of widening wealth inequality, features quotes from some really awful-sounding, clueless people who compare the plight of the wealthy to the discrimination experienced by black people. Read the rest

UK Chancellor: I must cut tax benefits for working poor to help them

George Osborne, born to a titled millionaire, has explained that he is cutting the tax-credits that let the working poor survive, despite the Tory party's election promise not to do any such thing -- because it will reduce the deficit and therefore save them from the cuts that the country would have to pay in the future in order to pay down those debts. Read the rest

Icelanders school their PM on solidarity with Syrian refugees

The Prime Minister of Iceland offered to take in 50 Syrian refugees; 10,000 of his countrymen responded to this announcement by offering their homes to house Syrians fleeing horrific violence and danger. Read the rest

Tomorrow's Catalan elections are a referendum on independence

The Catalan independence movement is a perennial factor in Spanish politics, but it's had a new lease on life since the financial crisis and the imposition of brutal austerity by the country's banker-friendly, authoritarian government. Read the rest

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