Jack Meyer 🏛️ @Jackbmeyer
Economist. Researching Institutions, Intellectual Property, Innovation, and Inequality. MPhil Student, on leave from @OxfordEconDept, MSc @LseEcHist (RT!=E) linktr.ee/jackbmeyer Vermont/Oxford Joined March 2015-
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@Pepperscorn Yes and no, it’s a classic stock vs flow issue in terms of taxing the trust vs income, but the relevant comparison he’s getting at is whether you pay more for building wealth vs inheriting it
Nobody in this video correctly calculates geometric decay, the annualized rate of the periodic tax would be roughly 0.62% and over 70 years about 35.2% rather than 42%, less than the lifetime inheritance rate of 40%
Arithmetic errors aside, the relevant question is how the UK ought to tax the accumulation of new wealth and investment, as a function of income, relative to inheritance and other means of intergenerational wealth transfer
@willhorsley96 I mean it’s a classic stocks and flows problem, annual income tax vs 10 year periodic tax vs one time inheritance tax, without even considering how the real rate of return changes that calculation. It just bothers me every time I hear that a 6% tax paid seven times is 42%
@Martlu12 You can adjust for inflation and the rate of return on the trust, but it’s still the same tax rate. Adjusting for inflation alone, relative to an inheritance tax on the principal, the trust pays out same nominal amount but contributes less in real terms
Jack Meyer 🏛️ retweeted
Interesting piece by the ECB, highlighting the fall in the euro area's current account surplus to 1.7% of euro area GDP in 2025 (way below China's surplus, even without adjusting for Ireland) 1/
Jack Meyer 🏛️ retweeted
What makes British institutions superior is the clarity of the law: you know what you can and can't do
@Martlu12 88 years gets you to just over 42%
@julesw1lko It’s still the same tax rate, but a larger proportion paid relative to the value of the principal
@yoloeconomics_ 83 years does get you to just above 40%
@BevansAdvocate This is true
Reflecting on creative destruction and endogenous growth, I often think back to this selection from Marx’s Grundrisse, describing the “destruction of capital not by relations external to it, but rather as a condition of its self-preservation” as a dynamic of capitalist growth
@jaketropolis Didn’t care for the greenish hue of the jacket
The girlfriend vetoed the fit, so now I need to find a new girlfriend
Trying to adjust to the warmer weather
@MakeUSAVAT Veto was a bit of a misnomer, after a vote along partisan lines the fit did not even make it out of committee
“You would look better without a tie”
Jack Meyer 🏛️ retweeted
The data is now clear: China saved the world — and Donald Trump — from the worst economic impacts of the Iran War. How? By silently drawing down their vast strategic stockpiles of crude oil and liquid fuels. This seemingly technical intervention in the market has world-shaking potential: It means the Chinese government may now have as much influence over global fossil fuel prices as it has over global mineral prices. On today’s Shift Key, I talk to @Rory_Johnston about “the most important thing we learned” from the Iran War, how we know it happened, and what it might mean. It’s free to listen to and subscribe to, as always, below.
Jack Meyer 🏛️ retweeted
China is making a broader push to internationalize the RMB. But as it converts loans from USD to RMB, China seems to be restructuring debt on more favorable terms for recipient countries, at least with Kenya. New @AidData report: aiddata.org/publications/k…
China quietly doing debt relief in Africa
Not quite 20k, but close enough: A short thread explaining the intuition behind my working paper on patent disclosure norms and why inventors in eighteenth-century Britain came to disclose detailed descriptions of their inventions under conditions of selective patent enforcement.
At 20,000 followers I will reveal a model that explains innovator incentives under incomplete intellectual property rights and demonstrate how legal-institutional arrangements may have contributed to the Industrial Revolution
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