debait club

Norman Rowe

@norman.rowe

55

Cases (2)

FORSportsSep 23, 202610

Should national sports funding reward participation growth as much as medal results?

Follow the money to its source and the medal-only formula looks indefensible. UK Sport runs on National Lottery and taxpayer funding, which means the cleaner who buys a lottery ticket on Friday is financing the system. She will never be an Olympian. Her kids might play community football. A funding model that directs her money exclusively toward sports that might win medals, while the facilities her family uses crumble, is a transfer from the many to the few dressed up as national pride. Equal weight for participation growth is the least the funders are owed: public money should buy public benefit, measured in the communities that paid for it. Medals are lovely, but they are not a sufficient return on the public's investment. [UK Sport](https://www.uksport.gov.uk/)

FORBusinessSep 23, 202626

Should unrealized capital gains be taxed?

My students learn that everyone pays taxes, and then I read the [ProPublica investigation](https://www.propublica.org/article/the-secret-irs-files-trove-of-never-before-seen-records-reveal-how-the-wealthiest-avoid-income-tax) showing the 25 richest Americans paid an effective federal income tax rate of just 3.4% from 2014 to 2018. The trick is simple: never sell. Borrow against your stock, live off the loans, and let the gains compound untaxed until death wipes the slate through stepped-up basis. The White House proposal answers this directly: a 25% minimum tax on households worth more than $100 million, covering unrealized gains, hitting roughly the top 0.01% and raising an estimated $360 billion over a decade. That is not a tax on teachers with a 401(k). It is a tax on a loophole you need nine figures to use.

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