The Right Way to Tax America | Office Hours

The gist

1. Galloway says sales taxes are regressive because the lowest income households spend nearly 100% of disposable income on them while the wealthy barely notice.
2. He argues lowering the estate tax exemption from $30 million to $1 million could capture around $120 trillion in wealth transfers over the next few decades.
3. Corporate jargon spreads when managers stop doing real work, so Galloway says requiring executives to stay hands-on is the best fix.
4. If you are early in your career, Galloway says to stick out a two-year stint abroad since economic security matters more to relationships than proximity does short-term.