Andrew Schulz's Flagrant with Akaash Singh
Andrew Schulz's Flagrant with Akaash Singh
"The smart people were hired by the rich people to create the rules to get around that. That's the point I was gonna make." — [Unidentified Speaker]
"The reality of the situation is and I'll tell you sort of very quickly afterwards but like the Met Gala I've always thought was the stupidest fucking thing." — [Andrew Schulz]
"The fundraiser has become a networking opportunity. That's really what it is. You're not going there for the charity, you're going there for the connection that you might make." — [Unidentified Speaker]
The podcast clip delves into the perceived hypocrisy surrounding Alexandria Ocasio-Cortez's attendance at the Met Gala, a high-cost event, while advocating for policies to "tax the rich." The discussion questions the effectiveness of current tax proposals, suggesting that the wealthy can easily find ways to avoid taxes through intricate financial strategies, often employing highly paid tax professionals. This, in turn, is argued to disproportionately penalize middle-class individuals striving for financial advancement rather than targeting the ultra-wealthy.
Further analysis explores the mechanics of wealth and tax avoidance, highlighting how rich individuals can reinvest profits into businesses, utilize stock shelters, or establish charitable foundations to mask income. The conversation posits that a consumption-based tax, rather than an income-based one, might be a more effective, albeit still challenging, approach to taxing the wealthiest. The speakers express skepticism about the ability of government entities like the IRS to effectively audit and tax individuals with vast fortunes, contrasting the salaries of government accountants with those hired by billionaires.
The latter part of the discussion shifts to the nature of the Met Gala itself, with speakers characterizing it as a status symbol and an event driven by "value-off exclusion" rather than genuine merit or artistic contribution. They critique the idea of attending such events as a form of activism or bravery, suggesting it is more about social networking and personal cachet. The role of fundraisers and activism is also questioned, with a sentiment that genuine causes should receive direct financial support without requiring participants to engage in elaborate, performative events.