The $84 Trillion Inheritance Nobody Is Taxing | Office Hours

The gist

1. Galloway says lowering the estate tax exemption from $30M to $1M per couple could fund public infrastructure without meaningfully affecting heir happiness.
2. Prediction markets have predicted Fed rate cut decisions with 100% accuracy and outperform traditional pollsters, making them useful for professional forecasting.
3. Galloway says the wealthy pay lower effective tax rates by borrowing against assets instead of selling them, so the tax structure is the real problem, not the rates.
4. Before taking a career pivot with a pay cut, Galloway recommends getting an outside offer at better pay first and using it as leverage with your current employer.