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"The foundation of my politics is the recognition of our collective interdependence. In the complex world that we have inherited from our forebears, it is often difficult to see just how to translate that fundamental interdependence into laws or public policies, but we must always begin from the acknowledgement that we are a community of men and women who must care for one another, work with one another, and treat the needs of each as the concern of all."

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"And yet: human beings (not just economists), when called upon to explain how society works, have a strange tendency to reach first for efficient market hypotheses, and to hold on like grim death. Natural or even cosmic orders of orderly payback. That’s the ticket. We are ‘in debt’ to the gods, or our parents, or society. Graeber is quick to point out the inadequacies of these metaphors."

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We can see, then, that the tax system in the United States violates the fundamental principles of income taxation. Those are “vertical equity,” which says that those with upper incomes should pay a higher effective tax rate than those with modest incomes — as far back as Adam Smith, ability to pay has always been a core principle of taxation — and “horizontal equity,” which says that those with roughly the same income ought to pay roughly the same taxes.

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"There are times in history when right and wrong are sufficiently divergent that no ambiguity remains between them. This is such a moment. Recent decades have witnessed a de facto coup against the democratic structures of the world, and the wholesale capture and sabotage of the entire public regulatory apparatus. "

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What struck me as rather surprising is the extent to which it still mattered to writers and philosophers of 19th century whether their lives were in accord with their philosophies. There is a neoclassical flavor to this worry—original philosophers were supposedly there to teach youth how to live, and it would have been in poor taste (and very poor advertising) for them not to live according to the principles they had espoused. The necessity of the past, however, acquired a different, more distinguished flavor from 17th century on. There is something noble about John Stuart Mill’s feminist preoccupation that the world recognize his partner, Harriet Taylor, as a full co-author of his works. There is something noble about Ludwig Wittgenstein renouncing his enormous inheritance and teaching in a one room school in remote rural Norway village. There is something noble about Nietzsche, unable to live up to his own ideas, having a nervous breakdown.

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Obama's power is thick power. Thick power is a distant cousin of soft power. Like soft power, it is built by setting an example. When we can set an example that inspires others we are able to lead — and others follow.

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O'Reilly principles 1. Work on something that matters to you more than money 2. Create more value than you capture 3. Take the long view.

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