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The Grown Up Tax Bill: Sorry, Grown-Ups Are Out of Stock July 18, 2025
Dear Martian Central Bank: could you please send us some Grown-Ups?
Scott Galloway recently sketched out a common-sense set of tax reforms that would go a long way to reducing the widening federal deficit. There's just one Catch, Catch-25: it requires Grown-Ups, and Grown-Ups are out of stock, and have been for a long time, as it seems they're no longer being produced. The Grown Up Tax Bill. I confess that to say this is to admit to being delusional, but Galloway's suggested tax reforms seem self-evidently common-sense, which means there isn't a snowball's chance in Heck any of them could possibly be enacted. Common-sense has zero value in today's cultural void; the only thing that has any value is what's acceptable to those holding the levers of power and wealth. If wearing our underwear on the outside of our clothing is acceptable to those holding the levers of power and wealth, then that is a slam-dunk to be enacted regardless of its impracticality and absurdity. Those holding the levers of power and wealth all have luxury penthouses in FantasyLand, where they can peer down at all the little people doing whatever little people do--go to work, pay taxes, get takeout because they're exhausted, watch the latest bingeable entertainment, and so on. There are two core industries in FantasyLand. One is corruption and the other is borrowing or creating however many trillions of dollars it takes to keep FantasyLand looking tidy. Oh, wait--I guess there's only one industry because borrowing or creating trillions of dollars to blow on keeping up appearances rather than on increasing efficiency and productivity is the ultimate form of corruption. Here are thumbnails of Galloway's requires Grown-Ups, oops, dang, we're plumb out of Grown-Ups tax reforms: 1. Increase compliance with existing tax laws. Sounds fair, right, because us little people don't have $500/hour experts to pore over the tens of thousands of tax-regulation pages to find loopholes. (Spoiler alert: there aren't any for us little people.) But nope, increasing compliance via audits is out because rich people might have to pay the taxes they owe and that is a mortal sin against all that is sacred in the status quo. So forget pressuring wealthy folks to pay the taxes they owe, that requires Grown-Ups, and there aren't any in stock. We do have plenty of self-serving billionaires, will they do in a pinch? No? Well then, shucks, we can't help you fellas. 2. Reverse the $30 million estate tax giveaway. I'm sure this helps all the little people who would suffer catastrophic declines in their family's welfare if they could only pass along $5 million tax free. I mean, come on, that wouldn't even cover the beachfront getaway bungalow on Hanalei Bay, never mind all the other nice things. To pay any estate tax is an affront to decency. Imagine, forcing us to stash the wealth in do-good hidey-holes, a.k.a. philanthro-Capitalist Foundations. What is the world coming to? 3. Put some teeth back in the Alternative Minimum Tax for incomes above 5X median household income ($80,000), i.e. $400,000. The original motivation for the AMT was public outrage that wealthy taxpayers paid zero taxes while those of us earning a fraction of their incomes were paying through the nose. Look, I get that $400,000 doesn't go very far these days, but it is 5X median household income, and those collecting $400K in income should be able to pay at least what the household making $80K is paying. Remember, the AMT isn't an extra tax, it's a means to collect some tax from people making a lot of money who would otherwise be paying little or nothing. If you end up owing AMT, you did good. Pat yourself on the back. If you'd paid 40% of your income in taxes like us self-employed stiffs, you wouldn't be paying any AMT. 4. Since corporations are "citizens," then tax them like "citizens." Yes, I know all the arguments that corporate taxes are "double taxes" because shareholders pay tax on dividends, and maybe there's a common-sense way to deal with this, such as deducting dividends paid to shareholders. And I've often said here that I favor a low corporate flat tax rather than the convoluted unfair mess we have now. But hey, if corporations have all the privileges of "citizens," then shouldn't they pay taxes like "citizens"? 5. OK, cup your hands and I'll pour liquid iron into them. In other words, I'm going to brace myself and reprint Galloway's last reform, means-testing Social Security payments as the common-sense way to avoid slashing the payments to all beneficiaries when the bogus "trust fund" (another FantasyLand invention) runs dry in a few years. Galloway's summary: "Phasing out benefits for those with more than $150,000 of non-Social Security income would save an estimated $600b to $700b over a decade." I know, I know, I paid into the system all these years. Yeah, so have I, so let's set up a little Excel macro and run through every beneficiary's SSA account and adjust each year's SSA taxes paid for inflation so each years' SSA taxes paid is in today's dollars, then add the average short-term Treasury yield rate in each year to the running total, and then we'll have a total of what each beneficiary paid in, with interest. Once we add the employer's half, we have a grand total of all monies paid into SSA and the interest that would have accrued if it had actually been in a Trust Fund rather than a bogus make-believe flim-flam. After these funds are paid out, the SSA payments stop: we paid back what you put in with interest, so we're done paying you. Wouldn't that be fair? Given that the SSA payroll tax percentage was a lot lower in the old days, many beneficiaries would discover that their contributions plus interest only lasted a few years. So what's common-sense? What's fair? That's open to discussion, but the money running out isn't a matter of opinion: it's the real world, and a deep recession will bring that date forward. OK, I hear you: what about slashing and burning all that gummit waste? The biggest budget items just begging to be slashed and burned are 1) Medicare, 2) Medicaid, 3) the Pentagon and 4) interest paid on all the debt we've borrowed to put off having to act like Grown-Ups. Rounding up a bit because rounding down simply isn't common-sense, here are the big budget programs: Social Security: $1.5 trillion Medicare: $1.2 trillion Medicaid: $1 trillion Pentagon: $1 trillion Interest paid: $1 trillion TOTAL $5.7 trillion total federal budget: $6.8 trillion Everything else: $1.1 trillion As this chart shows, healthcare, Social Security and interest on the debt account for 81% of expected spending growth. Throw in increased Pentagon spending, and you pretty much have the whole enchilada. 
All those who reckon they can slash and burn Medicare, Medicaid and the Pentagon, line up here for your suicide mission. You're facing entrenched special interests with unlimited lobbying budgets and politicians with a desperate, crying need for millions in campaign contributions--not later, now, as the election cycle is now permanent. Yowza, look at Medicare: OK kids, define unsustainable: 
Yowza, look at Medicaid: OK kids, define parabolic: 
Dear Martian Central Bank: could you please send us some Grown-Ups? Any size or appearance will do as long as they're real-live Grown-Ups who manage to do difficult things no matter what obstacles are thrown in their way, even if everyone is upset and whining and throwing a tantrum: how dare you even enter FantasyLand, etc. Arigato, Big Guys, or well, Little Green Guys. We sure do need some help here, because we're flat out of Grown-Ups, the shelves are bare, they're on order but production must have ground to a halt, as we're still out of stock. 
New podcast: The Challenges of the G7 world (33 minutes) Can we grow our way out of stagnation and debt? Check out my new book Ultra-Processed Life and my new novels page. Become a $3/month patron of my work via patreon.com. Subscribe to my Substack for free My recent books: Disclosure: As an Amazon Associate I earn from qualifying purchases originated via links to Amazon products on this site. Ultra-Processed Life print $16, (Kindle $7.95, Hardcover $20 (129 pages, 2025) Read the Introduction and first chapter for free (PDF) The Mythology of Progress, Anti-Progress and a Mythology for the 21st Century print $16, (Kindle $6.95, Hardcover $24 (215 pages, 2024) Read the Introduction and first chapter for free (PDF) Self-Reliance in the 21st Century print $15, (Kindle $6.95, audiobook $13.08 (96 pages, 2022) Read the first chapter for free (PDF) When You Can't Go On: Burnout, Reckoning and Renewal $15 print, $6.95 Kindle ebook; audiobook Read the first section for free (PDF) Global Crisis, National Renewal: A (Revolutionary) Grand Strategy for the United States (Kindle $6.95, print $16, audiobook) Read Chapter One for free (PDF). A Hacker's Teleology: Sharing the Wealth of Our Shrinking Planet (Kindle $6.95, print $15, audiobook $17.46) Read the first section for free (PDF). Will You Be Richer or Poorer?: Profit, Power, and AI in a Traumatized World (Kindle $3.95, print $12, audiobook) Read the first section for free (PDF). The Adventures of the Consulting Philosopher: The Disappearance of Drake (Novel) $3.95 Kindle, $12 print); read the first chapters for free (PDF) Money and Work Unchained $6.95 Kindle, $15 print) Read the first section for free Become a $3/month patron of my work via patreon.com. Subscribe to my Substack for free Ultra-Processed Life print $16, (Kindle $7.95, Hardcover $20 (129 pages, 2025) 
Ultra-Processed Life is my term for everything that is analogous to ultra-processed snacks: attractively marketed, instantly alluring, easy to consume, addictive by design, tasty in the moment but harmful over time, its origins a black box of unknown processes, the brightly colored product bearing no resemblance to the real-world ingredients, an idealized form of what is inherently imperfect, untethered from the natural world or the future, disconnected not just from the consequences of our consuming the snack but disconnected from the consequences unleashed by those consequences.
This book recounts my journey of discovery of how our everyday realm has drifted away from the foundations of human life and happiness without our noticing: the everyday realm is the river and we're the fish oblivious of the water. This book charts my exploration of what's so normal we don't even see it for what it is. As with many others, the catalyst for my exploration was a life-threatening medical crisis that did not have a specific cause. This led me to wonder if our entire way of life is like an ultra-processed snack: tasty but not healthy, edible but stripped of the nutrients we need to be healthy, addictive by design. Read the Introduction and first chapter The Mythology of Progress, Anti-Progress and a Mythology for the 21st Century print $20, (Kindle $9.95, Hardcover $24 (215 pages, 2024) audiobook, Read the Introduction and first chapter for free (PDF) 
What if growth--and policies to accelerate growth--are no longer working because our fix for every problem--growth at any cost--is failing? We're told Progress is inevitable as a result of technology, but everyday life is getting harder, not easier--the opposite of Progress, what I call Anti-Progress.
What if the real source of the unraveling is far deeper than economics or politics? What if the problem is what we see as the inevitable destiny of humanity--Progress--is actually a modern mythology, disconnected from the real-world consequences of growth for growth's sake? We indignantly reject that Progress is a mythology, but our need for mythology hasn't gone away because we've mastered technology; we've created a modern mythology of technology that is heedless of its own consequences. To truly progress, we need a new mythology aligned to 21st century realities. That's the goal of this book. Read the Introduction and first chapter for free
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"There is no security on this earth; there is only opportunity." (Douglas MacArthur) "We are what we repeatedly do." (Aristotle) "Do the thing and you shall have the power." (Ralph Waldo Emerson) "Any intelligent fool can make things bigger, more complex, and more violent. It takes a touch of genius and a lot of courage to move in the opposite direction." (E.F. Schumacher, via Tom R.) "He who will not risk cannot win." (John Paul Jones) "When we drink coffee, ideas march in like the army." (Honore de Balzac) "Progress is not possible without deviation." (Frank Zappa, via Richard Metzger) "Victory favors those who take pains." (amat victoria curam) "The man who has a garden and a library has everything." (Cicero, via Lee Bentley) "A healthy homecooked family meal and a home garden are revolutionary acts." (CHS) "Do you know what amazes me more than anything else? The impotence of force to organize anything." (Napoleon Bonaparte) "The way of the Tao is reversal" Or "Reversal is the movement of Tao." (Lao Tzu) "Chance favours the prepared mind." (Louis Pasteur) "Success consists of going from failure to failure without loss of enthusiasm." (Winston Churchill) "Where there is ruin, there is hope for treasures." (Rumi) "The realm of gratitude is boundless." (CHS, 11/25/15) "History doesn't have a reverse gear." (CHS, 12/22/15) Smith's Law of Conservation of Risk: Every sustained action has more than one consequence. Some consequences will appear positive for a time before revealing their destructive nature. Some consequences will be intended, some will not. Some will be foreseeable, some will not. Some will be controllable, some will not. Those that are unforeseen and uncontrollable will trigger waves of other unforeseen and uncontrollable consequences. (July 8, 2014)(thanks to Lew G. for retitling the idea.) Smith's Neofeudalism Principle #1: If the citizenry cannot replace a kleptocratic authoritarian government and/or limit the power of the financial Aristocracy at the ballot box, the nation is a democracy in name only. The Smith Corollary to Metcalfe's Law (The Network Effect): the value of the network is created not just by the number of connected devices/users but by the value of the information and knowledge shared by users in sub-networks and in the entire network. (CHS, 4/6/16) My Credo of Liberation: I no longer care if the power centers of our society--the distant, fortified castles of our financial feudal system--are changed by my actions, for I am liberated by the act of resistance. I am no longer complicit in perpetuating fraudulent feudalism and the pathology of concentrated power. I no longer covet signifiers of membership in the Upper Caste that serves the plutocracy. I am liberated from self-destructive consumerist-State financialization and the delusion that debt servitude and obedience to sociopathological Elites serve my self-interests. (Thank you, Klaus-Peter L., for reminding me) "We've become a culture of excuses rather than solutions: solutions always require sustained effort and discipline." (CHS 4/9/16) "Fraud as a way of life caters an extravagant banquet of consequences." (CHS 4/14/16) "Creativity = problem solving = value creation." (CHS 6/4/16) "Truth is powerful because it is the core dynamic of solving problems." (CHS 7/21/17) "We live in a system of human emotions that masquerades as a science (economics)." (CHS 1/1/18) "Always remember, your focus determines your reality." (George Lucas) "Diversity is for poor people. Sameness is for the successful." (GFB) "When power dissipates suddenly, it dissipates completely." (CHS 7/14/19) "Disobedience is the true foundation of liberty. The obedient must be slaves." (Henry David Thoreau) "Markets cannot price in the value of non-monetized natural assets such as diverse ecosystems." (CHS 7/14/19) "Magical thinking isn't optimism, it is folly." CHS 1/3/22) "Tune in (to self-reliance), drop out (of hyper-consumerism and debt-serfdom) and turn on (to relocalizing capital and agency)." (CHS 1/5/22) "The path to everything you desire starts here: like yourself as you are right now." (CHS 11/20/22) "There are only two signals: how many essentials you produce and share and if you're consuming less with better results. Everything else is noise." (CHS 12/17/22) "Liberation is no longer needing any confirmation or feedback from others or the world for one's sense of self. Wealth, fame, recognition, admiration, praise, prestige, approval, sainthood, martyrdom, success: none are needed, none are desired." (CHS 12/26/22) "When fame, wealth, prestige, status and glory are out of reach, you're free to pursue other more valuable things." (CHS 2/6/22) "It is the sacred duty of every activist who seeks to better their community to grow and share as much life-giving food as is humanly possible." (CHS 6/15/23) "Being anonymous, gray and unknown is the ideal state of freedom." (CHS 3/15/24) "We seem to have entered a world of anti-leisure and anti-productivity in which the unpaid shadow work demanded to keep all the complicated digital bits in motion obliterate our leisure and productivity." CHS (5/22/24) "It is axiomatic that failing systems work the best just before they fail catastrophically." Ray W. "Looking younger is mere technique; thinking younger demands creativity." CHS (10/16/24) "Tell me what's taboo and I'll tell you the truths that threaten the status quo." CHS (12/15/24) "This is the core of the Attention Economy: the ultimate addiction is the addiction to ourselves." CHS (1/28/25) |
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