> I'd be more concerned about private credit socializing losses and being bailed out, than bad AI loans leading to private credit problems which then lead to the bailout.
A distinction without a difference. Insurance is the back door for socializing losses and bailing out private credit. That was the case with AIG, the media paved the way with headlines like "without AIG, the world will have no insurance", and the crooks got paid.
They learned the lesson well, just BS about some vaguely specified "other problems" that take forever to sort out, so we can be bled dry in the meantime - through the back door. Ergo, closing the back door is the first order of business.
> That tax was a cost for the property owner. If the tax revenue goes away then there is a cost for no one.
Wrong. The tax revenue "doesn't go away", it's shifted to the other taxpayers who foot the bill for those who don't pay. That's why tax-breaks are recognized as subsidies by everyone who knows something about the topic.
Taxes are calculated individually and are independent of one another. They do not get shared among the tax base. Other people paying property tax do not have to pay the property tax for the data center's land.
As a thought experiment let's say I am in a state with a sales tax. If I buy a game console from a different state that doesn't have sales tax it doesn't cost the tax payers of the state I'm in anything yet we enter a reality where I am happier than in an alternate reality where I did not buy it. The taxes paid are the same in both sceneries, but there is more happiness in society in one sceneries.
> Taxes are calculated individually and are independent of one another.
They are not independent. Total tax revenue is the key metric and it is sum of the individual components. If that value is not large enough taxes go up or services go down or both. So if the data center is not paying property taxes but is using services like road building and maintenance, police protection, fire department, water and sewage infrastructure, etc, then those costs ultimately get passed to the people who are paying property taxes.
Or fraud goes down. Or useless wastes of money is no longer tolerated. Or the government is made more profitable. It is definitely possible to do more with less.
Anyways you are trying to distract from the point as what you are arguing is not what this conversation is about I think. Unless you think all of those services will require raising their prices by billions of dollars despite somehow operating under a budget where that same land was not bringing in billions of dollars of property tax.
The tax payers are not paying billions of dollars as a cost to enable the tax cut to happen.
These kinds of tax breaks are a form of legalized fraud, imho. These tech companies absolutely have profit margins enough to pay taxes in full. Reducing their taxes while all the other business and property owners have to pay the full rate is unjustifiable.
So if I don't develop my land (because the government won't let me do so affordably, lol) and pay $0ish that's better than if some big moneyed interests that can pay their way through the regulatory spaghetti you've concocted and develop something, anything there? Even if they pay no tax on the land development there's still taxable activity going on there. Someone is paying tax on the toilet paper in the employee bathroom and whatnot. And of course the actual productivity gets taxed too (investment income, capital gains or whatever) or the income of the accountant you hire to prevent that stuff from getting taxed gets taxed. In any case it's still very net positive.
IDK if you've ever driven through Kentucky but it's the kind of state that isn't exactly lacking for places to put odious industry.
Why do you even care about some town in Kentucky's tax receipts anyway? Lord knows they'll probably use it on abstinence only sex ed.
It depends on what the land is developed for of course. 'Something' is not always better than 'nothing. I'm sure you can imagine land being developed in a way that is a net negative to the local community and economy.
Reddit problems aren't caused by AI, like at all. On the contrary, a good moderation policy would only gain value from AI and benefit users. However, the main business objective of Reddit is discourse control, just like every other highly promoted soc-med outfit.
What people like or not doesn't matter outside of that, Reddit's falling into oblivion is business going by plan - it will be shut down as soon as it loses its controlling grip or another entity assumes its role with "better" results.
> The Chinese are currently building loads of EV car factories in Mexico in the hope they can export them North
There's no reason to assume that China is looking North, in fact, they appear to be looking South (America) much more than North - there's mutual benefit from that trade and either side would be fools to miss it.
> Treasury yields are basically a projection of future interest rates.
Nope, treasury yields are in an inverse linear relationship with Fed's real interest rate. In the absence of rate hikes, the real interest rate goes down so treasury yields go up.
>> Same reason road vehicles haven't been banned despite killing hundreds of thousands every single year for over a century
Whut? People and companies are always being sued and punished for injuring or killing others with cars or by any other means. Do you understand the difference between banning a tool and prosecuting those who cause damage by abusing some tool? BTW, LLMs don't understand that difference.
> Just like cars, AI will kill some of us, maybe thousands every year.
How merciful of you, it's so reassuring, AI will kill me only sometimes and only a limited number of times - sounds like a good deal in exchange for getting rid of "the absolutely hellish job of data entry".
> Do you want companies to have incentives to pay researchers even if NDAs and non competes are basically unenforceable?
I thought "recursive self improvement" would bring an effective abundance for everybody, any minute now, Musk said so himself. Seems the researchers in the field are lying to us about it while they clutch their pearls and dream about other people's money as if the future is a dog-eats-dog world of death-inducing scarcity.
They shouldn't be lying like that, or at least, their lying shouldn't be so obvious.
No one in the field itself takes Musk seriously, or sees him as part of it. I think he's a Nazi and an idiot. You're weird if you trust what the leader of DOGE, sig heiler and maker of the cyber truck says about anything scientific.
Recursive self improvement is a blue skies longer term thing. No one technical is saying that it's live right now.
> And this goes well beyond medicine. We fixate on AGI gods, while more mundane problems pile up unattended... People are de-skilling as they hand more thinking to machines.
That's not a bug, it's a feature, the main feature that justifies the absurd funding of something that is a long way from producing any profits.
> 'national security threat' is a right-wing dog-whistle for 'we have no actual proof, but we dislike it, so let's ban it'.
The abuse of the term "National Security Threat' doesn't mean legitimate threats don't exist. "There are no NSTs" as a left-wing dog whistle would be equally damaging by ignoring legitimate concerns - both approaches lead to the same outcomes, similar to the vast majority of highly popularized left-right wrestling shows.
Hidden, unknown to the public residential proxies are a national security threat, and there's no need to ban them in order to protect from that - just make them public. There would be no problem if I knew the IPs who could act as proxies and block them, that would be a fair game.
A distinction without a difference. Insurance is the back door for socializing losses and bailing out private credit. That was the case with AIG, the media paved the way with headlines like "without AIG, the world will have no insurance", and the crooks got paid.
They learned the lesson well, just BS about some vaguely specified "other problems" that take forever to sort out, so we can be bled dry in the meantime - through the back door. Ergo, closing the back door is the first order of business.
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