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MAGS ๐Ÿ”‘โ›๏ธ๐Ÿš’
@Crypto_Mags
Host of @Magsplaining_: Money/Bitcoin, AI, & power shifts. Advisor @PRTIinc @ddcbtc_. Launched 1st ๐Ÿ‡จ๐Ÿ‡ฆ Bitcoin fund in 2019. Vibe2Flow for @VibeCapitalMgmt.
2.9K Following    28.6K Followers
This is the only house for sale in the land given to the Cowichan tribe. Real value is $0 because there are no bidders after the court ruled that Indigenous title is senior to private or crown land. This could happen to you.
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The BC Green Party is now proposing a wealth tax (households over $50m) They fail to consider how they will fund their socialist programs when productive numbers of society leave BC like they did in California and France
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'The problem with socialism is that you eventually run out of other people's money' The BC NDP are about to bring in one of the world's highest tax rates Where will the money come from when the wealth leaves like in California and France? Once they're gone, they won't return
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.@bcndp is about to implement the highest marginal tax rate in North America Eby is pitching it as a millionaires tax, but taxes will rise starting at US$130k - ie 2 income families, skilled professionals, and doctors he's trying to attract Alberta will be the biggest winner
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57.5% at $190,000 is not a millionaires tax. It is a tax on dentists, engineers and two-income families with a mortgage. Here is what happens next, and it is the same everywhere. The people it was aimed at leave. The people it actually hits cannot. Doctors go to Alberta, founders go to the US, and the family on $190,000 stays and pays. Canada already loses a significant number of high earners every year. Every government that does this is surprised by the same outcome. It has never once gone differently.
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Context: This would raise BC to the highest income tax rate since 1981, and make the province (by a decent margin) the highest tax rate jurisdiction in Canada. The gap with Alberta would be back at 1990s levels. Data:
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My friend had a very scary experience in the Whistler mountains. She went camping with two girlfriends and they wanted to pitch a tent after hiking all day, but there was a bunch of signs that said no camping (without much explanation) So they went further where there were no signs and pitched their tent. They cooked their meal away from their campsite to lower the chance of bears coming to their site at night. When they came back to their tents, someone had opened them all and doused their sleeping bags and mattresses with water. So they had to pack up all their wet gear because the Alpine gets super cold at night and hike back at night which is incredibly dangerous if they fell. She researched the next day but could find no conclusive answer why no camping near there (and they respectfully moved away!) I've been seeing a lot of BC provincial park closures because of First Nations (thanks @bcndp), or maybe this was a rabid conservationist. Either way some crazy idiot could get someone killed or tie up SAR resources because of a dangerous agenda
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Step 1: make life unaffordable for the low and middle class Step 2: Blame it on the rich Step 3: make it palatable to steal from the productive class to stay in power Step 4: the productive class leaves decimating the tax base for social programs See step 1
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'The problem with socialism is that you eventually run out of other people's money' The BC NDP are about to bring in one of the world's highest tax rates Where will the money come from when the wealth leaves like in California and France? Once they're gone, they won't return
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'The problem with socialism is that you eventually run out of other people's money' The BC NDP are about to bring in one of the world's highest tax rates Where will the money come from when the wealth leaves like in California and France? Once they're gone, they won't return
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UPDATE: We now have the rate details. And this is much broader than the โ€œmillionairesโ€™ taxโ€ initially advertised. The proposed B.C. provincial rates would increase: โ€ข 16.8% โ†’ 18.8% on taxable income from $190,405 to $265,545 โ€ข 20.5% โ†’ 22.5% from $265,545 to $1 million โ€ข A new 24.5% rate above $1 million That means the combined federal/B.C. top marginal rate would become an astonishing 57.5%. And notice where the tax increases actually begin: roughly $190,000, not $1 million. So much for simply asking โ€œmillionairesโ€ to pitch in a little more. Iโ€™ll have much more to say about this.
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It's funny that the Canadian government bases PR releases on a family of four when bad policies and inflation have killed the nuclear family
Today, the Canada Groceries and Essentials Benefit will land in the bank accounts of more than 12 million Canadians. This year, a family of four will receive up to $1,890. Thatโ€™s real relief to help with everyday costs.
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"I have a horse, why would I need a car?" "I have candles, why would I need electricity?" "I have glass beads, why would I need any other form of money?" "I have whale oil, why would I need petroleum" What they're really saying is that they don't value their time and energy
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Iโ€™m a competent adult. Why do I need an โ€œAI agentโ€ to check into a flight for me? Iโ€™m literate. Why do I need an โ€œAI agentโ€ to read and write emails for me? Also, I donโ€™t get so many emails that I canโ€™t answer them myself. The reason โ€œno one uses AIโ€ is that thereโ€™s no serious utility here for the vast majority of people.
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It's the same wrt surveillance. No one is okay with apps mapping our homes and neighborhoods, but millions of people mapped the world for the military. They even spent hundreds of dollars for the privilege!
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The uncomfortable truth is that this is also true for hyperbitcoinization. If we achieve it, that means currencies have failed creating hard times for huge swaths of people that adopted late
JUST IN: OpenAI CEO Sam Altman declares the world needs to โ€œaccept some bad things happeningโ€ in exchange for the benefits of AI.
๐ŸŽฌ THE MONEY TREE ๐ŸŒณ Who gets to change the rules? > a natural history of western monetary thought from Locke to Satoshi watch my 15 minute documentary about the evolution of monetary philosophy from 1695 to 2026.. written by me, made with opus 5.5 & eleven labs
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We saw what happened in California, wealth with leave BC
UPDATE: We now have the rate details. And this is much broader than the โ€œmillionairesโ€™ taxโ€ initially advertised. The proposed B.C. provincial rates would increase: โ€ข 16.8% โ†’ 18.8% on taxable income from $190,405 to $265,545 โ€ข 20.5% โ†’ 22.5% from $265,545 to $1 million โ€ข A new 24.5% rate above $1 million That means the combined federal/B.C. top marginal rate would become an astonishing 57.5%. And notice where the tax increases actually begin: roughly $190,000, not $1 million. So much for simply asking โ€œmillionairesโ€ to pitch in a little more. Iโ€™ll have much more to say about this.
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Sad to see summer leaving us but fall hiking is some of the best and mushroom season is upon us!
I feel like AI companies see listings like this and salivate at the abundance of training data Cc: @BrianRoemmele
The world is a really depressing place right now. It's more important than ever to clock out from social media and get outside
@saylor @clarkmoody The BIP 110 movement has boiled down to "but think of the children", which is not an effective strategy with Bitcoiners that are sick of this type of government overreach
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