I should of said “makes it impossible to raise taxes on the rich” … without them passing on the hurt to the poor. Sort of like how Trump thinks a tariff on foreign goods will only be paid by foreigners.
The rich don’t earn money from an income. They earn it from investments. We tax investments at the same rate as the top bracket (37%). If we raised the top income bracket to 38%, it would push more rich to receive their income via investment. However, raise the investment tax (capital gains), and we drive foreign investment away. A lot of foreign money is in America because we have a long history of stability and a low possibility of the people rising up and nationalizing ownership of foreign property. Drive that money away and everyone suffers, but that also makes it impossible to raise taxes on the rich.
The hype should go the other way. Instead of bigger and bigger models that do more and more - have smaller models that are just as effective. Get them onto personal computers; get them onto phones; get them onto Arduino minis that cost $20 - and then have those models be as good as the big LLMs and Image gen programs.
Wow, they are buying ads but haven’t made any new content since 2012?. Must be a desert bus for hope promotion.
Biden just finalized the Arizona TSMC plant.
If that gets invaded, I think semiconductors are the least of our problems.