@dsmitch28.bsky.social tax/regulatory policy @equitablegrowth. alum: @AspenFSP @SenSherrodBrown @GeorgetownLaw @PrincetonSPIA @TuftsUniversity. Opinions my own
Washington, DC
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David S. Mitchell retweeted
Recently, Austin Clemens and @dsmitch28 have been exploring whether debt-to-GDP tells the full story when it comes to the nation's fiscal outlook.
Their latest post examines federal debt in the context of U.S. household wealth.
Read more via Substack ➡️
equitablegrowth.substack.com…
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David S. Mitchell retweeted
From city councils to Congress, there’s a growing desire to tax AI, but policymakers don’t always know their options. My new paper outlines 34 ways to tax AI across data centers, chips, data, AI cos. & products, automation & general tax reforms. vanderbiltpolicyaccelerator.…
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David S. Mitchell retweeted
One week away: Join us Tuesday, October 20 for our next installment of #EGPresents: Revisiting the Labor Market as a Driver of Income Inequality.
Check out our full panel below and register here 🔗: web.cvent.com/event/18cfe097…
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David S. Mitchell retweeted
Equitable Growth is officially on @Substack! 🎉
Subscribe below for everything you need to know about economic growth and shared prosperity!
Equitablegrowth.substack.com
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High Maintenance at 278 is a crying shame...smh
Here are *your* 100 Best TV Shows of the 21st Century. See the full list. nyti.ms/4yt6iw2
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David S. Mitchell retweeted
But if you read the document carefully, you discover something particularly revealing: @ericschmidt made his $12 million contribution… in stock.
That is a devastating admission.
Billionaires around the world spend day and night telling us that they cannot be taxed, as their wealth consists of shares, “virtual wealth” as they describe it.
Yet here everyone can see shares being used to finance a political campaign against a wealth tax.
Suddenly, the shares are not virtual anymore. They were sold immediately by the anti-Prop 40 campaign, helping to flood the screens of California voters with misleading ads, distort the democratic debate, and sow disinformation.
It is remarkable.
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For those who think interest rates are rising because the bond market just realized public debt is too high, we have good news (for the US and France) and bad news (for Japan and the UK). equitablegrowth.org/applying…
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Congrats to Tax Ninjas @omzidar & Eric Zwick on their great new book The Everywhere Millionaire!
Their deep research into passthrough business owners makes a strong, urgent case for increasing antitrust enforcement & closing tax loopholes to make economy more dynamic and fair.
America’s everywhere millionaires built fortunes from hot dogs, car dealerships, medical practices, and convenience stores. Then they learned how to protect them. newyorker.com/magazine/2026/…
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David S. Mitchell retweeted
"Instead of dividing the debt by a single year’s income, divide it by the nation’s private wealth."
In this @thehill op-ed, @dsmitch28 and Austin Clemens argue the national debt looks far smaller when measured against U.S. wealth instead of GDP.
More ➡️
thehill.com/opinion/finance/…
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We hear a lot about the top 1% & top 0.1% but how rich is that actually?
Turns out defining extreme wealth is more complicated than it looks🧵
Watch this new video on @equitablegrowth's & Extreme Wealth Center's report from Austin Clemens to learn more: piped.video/watch?v=mXdP7RO5…
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And realized capital gains are wildly volatile, so top thresholds lurch around year to year.
That matters, because many wealth tax proposals target tiny slices. $50M in wealth is ~0.14% of households. $250M is ~16,000 of them. 4/
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That said, ALL of these folks—whether just above or below one of these thresholds—are REALLY rich & can afford to pay more in tax.
But if you want to fully understand how the precise cut-offs are calculated, Austin's report is required reading: equitablegrowth.org/research… /END
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U.S. debt held by the public just topped 100% of GDP, and CBO says it'll break the WWII-era record (106%) before 2030. But measure debt against total private wealth instead, and it's only ~half its 1945 peak.
A thread on why the yardstick matters. 🧵
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To summarize: the U.S. is not a broke household one missed paycheck from ruin! It's the wealthiest society in human history, one that has funneled an ever-larger share of its gains to the top and then told itself it can't afford to invest in everyone else.
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That said, debt-to-wealth is an additional yardstick, not a final verdict. It has limits — wealth is volatile & there's no "safe" threshold here either.
For all the caveats, charts, and methodologies, see the full report by Austin Clemens and me: equitablegrowth.org/research… /END
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