Scott argues that California's proposed billionaire tax is actually an extortion scheme by SEIU, which has a history of proposing destructive ballot initiatives and withdrawing them in exchange for concessions. Longer summary

Scott argues that California's 2026 Billionaire Tax Act is not a genuine progressive wealth tax proposal, but rather an extortion scheme by the Service Employees International Union (SEIU). He explains the tax's various problems (including taxing unrealized gains and being retroactive), then reveals SEIU's history of proposing deliberately destructive ballot initiatives targeting healthcare industries, only to withdraw them in exchange for money and union expansion rights. The union has done this repeatedly with hospitals and dialysis clinics, spending millions on initiatives they never intended to pass. Scott suggests the billionaire tax follows the same pattern: SEIU is leveraging Governor Newsom's presidential ambitions and desire to keep tech billionaires happy, hoping he'll offer concessions to make the initiative disappear. Shorter summary

Scott examines a prediction about eternal wealth inequality after the Singularity, analyzing potential counterarguments, prevention strategies, and ways to prepare for such a future. Longer summary

Scott analyzes a prediction that post-Singularity society will have eternal stagnant wealth inequality, with pre-Singularity capital determining wealth forever. He explores three angles: why this prediction might fail (eight counterarguments including AI killing humans, government intervention, and space colonization), how to prevent it (mainly through corporate structures like early OpenAI that limit investor returns), and how to maximize one's chances of being in the wealthy class (mostly concluding that traditional wealth-building advice applies). The discussion includes OpenAI's recent structural changes and their implications for wealth distribution post-Singularity. Shorter summary

Scott Alexander reviews Piketty's 'Capital in the Twenty-First Century', finding its analysis of long-term economic trends and inequality compelling but pessimistic about proposed solutions. Longer summary

Scott Alexander reviews Thomas Piketty's 'Capital in the Twenty-First Century', a book on inequality and macroeconomic history. The review covers Piketty's key arguments about economic growth, the rise and fall of rentiers, and increasing inequality. Scott finds Piketty's data and analysis compelling, particularly the idea that normal economic growth is always 1-1.5% per year and that the rate of return on capital tends to exceed economic growth, leading to increasing inequality over time. The review discusses potential solutions like wealth taxes, but is pessimistic about their implementation. It ends on some cautiously optimistic notes about global inequality reduction and the scientific nature of Piketty's approach. Shorter summary