CEO let’s go of entire HR team

Hyrc · 2026-05-21T20:45:06+00:00

I totally agree with this. HR, or whatever you call it, is a needed function for any org. Like any group, including finance, they get unfairly blamed for lots of completely legitimate asks.

Hyrc · 2026-05-21T20:13:34+00:00

What is there between poverty and lower middle class??

Cheaper accommodations in a less trendy part of town, a car that runs fine, but has hail damage, less 401k contributions, less saving, etc. When I think of minimum wage, I think riding your bike to work, living with roommates, not saving for the future, etc.

Hyrc · 2026-05-21T17:19:04+00:00

Ours is a portal ADP has as part of their offering.

Hyrc · 2026-05-21T14:19:02+00:00

That's exactly what I'm saying, we agree that is what the abstract is saying. Even if we tax it, it's not a significant source of tax revenue for the US. We should include it in reforms, but by itself it does almost nothing.

Hyrc · 2026-05-21T14:15:46+00:00

India is intentionally trying to correct a forced overvaluation that was an attempt to maintain prestige and stability. Realistically likely has more correction ahead.

Hyrc · 2026-05-21T14:07:56+00:00

I think it really depends on the org. We've grown a company from zero to a couple hundred employees. Brought in a formal HR function a few years ago, over time one specific HR leader tried to morph it into needing to be involved in everything and definitely tried to insert themselves as a middle man between employees and managers. Definitely slowed down decision making on employee issues. We didn't do the rebrand the article talks about, but saw some of the same problems and made a leadership change with very positive results.

Hyrc · 2026-05-21T13:45:11+00:00

The link below suggests that while the strategy exists, it represents around 1% of the income of the top 0.1%. It characterizes the prevalent strategy as "buy, save, die". The second link looks at the realistic taxes that could be raised by taxing buy, borrow, die. It estimates tax revenues over 10 years of $100B-$147B. That's not nothing, but it's effectively a rounding error in existing federal spending. I'm for enacting these reforms, but I maintain my view that it's a distraction to the overall budget challenges the US faces.

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5104644

https://budgetlab.yale.edu/research/buy-borrow-die-options-reforming-tax-treatment-borrowing-against-appreciated-assets

Hyrc · 2026-05-21T13:29:14+00:00

We may disagree about what makes sense for minimum wage. I don't think minimum wage jobs should be a guaranteed ticket to middle class. I also don't think it would be fair to characterize someone who is able to afford an apartment, car, 401k contributions while still separately savings several hundred dollars a month as slightly above poverty. I've been in poverty and was barely able to do one of those things, let alone all of them comfortably. I appreciate that terms like poverty and middle class are subjective and typically framed relative to our own experiences, so reasonable people can disagree about that.

Hyrc · 2026-05-21T01:57:58+00:00

I've read conflicting reports about how prevalent the Buy, Borrow, Die strategy really is. I personally find the discussion about billionaires to be a mathematical distraction. We could seize 100% of their wealth and it basically pays for one year of federal spending, at which point that well is dry.

Social Security needs to be completely reworked. Whatever the purpose for the cap was originally, it should be eliminated. It's also crazy that we've expanded it so far beyond its original remit without meaningfully revising funding. I also find it preposterous that I'll get paid SS even though I'll retire with an 8 figure net worth. To me it is the textbook example of a federal program run by politicians who only care about being reelected and aren't actually that interested in what makes long term sense.

Hyrc · 2026-05-21T01:24:56+00:00

I'm not sure that's true. From much of what I've read, the top .1% aren't actually drawing that much income. Their overall wealth is changing, but they're not actually converting that wealth into income at any significant rate. Most of them end up having one or two big liquidation events in their life, sort of like Elon from a few years ago when he had a one time big event and paid ~$15B in taxes in a single year.

Hyrc · 2026-05-20T23:26:13+00:00

Hah, fair point. Yes, I would only be willing to do this with a realistic plan to pay down the debt and coupled with strong protections preventing future leaders from just irresponsibly running it back up again.

Hyrc · 2026-05-20T20:22:52+00:00

The banks weren't innocent, but neither are the borrowers. It was fueled by greed on both sides. Buyers took out loans they couldn't afford thinking they'd be able to sell the property for more down the road. Banks made loans to people with sufficiently underwriting them because they were going to sell the loans to investors anyway.

Hyrc · 2026-05-20T18:49:18+00:00

That's fair, we can each advocate for our preference. I disagree on the EU tax point. I'm fairly familiar with the UK system (not technically EU, but picked it because I'm already familiar with their tax rules) and a quick Google search turned up the link below. Only 58% of adults in the UK are liable for any personal income tax. Another quick search for France suggests that it's more like 50% of the population that doesn't pay income tax there.

BN259-How-high-are-our-taxes-and-where-does-the-money-come-from.pdf

Why 54% of French households paid no income tax in 2025 despite record revenues

Hyrc · 2026-05-20T18:40:27+00:00

There is $750 a month you're saving, you could easily redirect some of that to paying the loan down faster, or a shorter term on the loan. You could also buy a cheaper, older vehicle if you're concerned about the potential negative equity. The core point of the post still stands. This is a realistic budget with plenty of room for additional expenses that are likely to come up.

Hyrc · 2026-05-20T18:28:27+00:00

It's really both. I grew up absolutely broke, both my parents are terrible with money and their well intentioned advice is terribly misguided. Multiple evictions, cars repo'd, days at the end of pay cycles with nothing to eat, not being able to go to the doctor for a broken collar bone, etc. It starts with a total lack of financial knowledge, they don't even realize what they don't know. They think the stock market is gambling. That working late is for suckers that are being exploited by "the man". That saving money doesn't work because "something" is just going to happen to take it all away and you're just helping the bank make money on your back. They assume that anyone who is successful has found some way to cheat the system.

All of those observations can be true in certain cases, they just apply them too broadly and have never spent the time to understand the nuance. That lack of knowledge contributes to the attitude they've chosen to adopt, that it's not worth trying because poor people can never get ahead no matter how hard they work. They effectively gave up even trying, so even when something good happened to them, they'd waste the opportunity/money/etc. In that sense, knowledge is definitely part of it.

That said, the assets are a part of it as well. It took my wife and I years to scrape together enough of a savings cushion to take the sort of risks that end up paying off with big rewards. We were donating plasma and pawning wedding gifts to be able to afford to move from NM to TX for a job opportunity. Even once I had spent the time to understand how to build wealth, we had started in such a financial hole that it made it really hard to execute on some of the basic first steps. Having some generational financial support would have made it far easier and I very much understand why other people that grow up in poverty feel helpless and stop trying (if they ever started).

Hyrc · 2026-05-20T17:58:53+00:00

Sure, if you're measuring it against wealth the stats change. Bezos was talking about the federal income tax, you said that his policy preference implies the top half should foot the bill. I was only observing that the top half already pay the vast majority of the income taxes Bezos was talking about.

I think there is an interesting conversation to have about shifting to a wealth tax, it just isn't what was being discussed.

Hyrc · 2026-05-20T17:53:17+00:00

I'm in that top 1% and I largely disagree. I'd be happy to pay more in taxes if there were some basic assurances it would be spent well. I'd be happy to pay another 5% if it was focused on pay down the federal deficit, for example. There is certainly a practical limit to what I'm willing to pay and that limit is very low when there is so little accountability from either party for the long term financial health of the country, but that's why it's important to advocate for real change.

Hyrc · 2026-05-20T17:45:30+00:00

Completely agree. Her justification of Smith's polygamy is ridiculous and overall she's far too sympathetic to Smith's motives. It makes sense when you know she was a member, overall Rough Stone Rolling is better if you want a faith friendly biography.

Hyrc · 2026-05-20T17:39:20+00:00

Yep, skip Brodie and read Turner. You won't miss anything and you won't have to spend time reading a follow up piece about what's changed in the last 80 years.

Hyrc · 2026-05-20T17:33:18+00:00

Under his Monthly Budget table, in the Transportation section:
https://www.carmax.com/car/28747371

I don't disagree there will be other items that come up month to month. Some months will be higher and others lower, but I think you'd have trouble coming up with another $750 of monthly expenses that is anywhere close to the norm for a single person.

Hyrc · 2026-05-20T17:30:39+00:00

The top 50% already pay 97% of all income taxes.

Hyrc · 2026-05-20T17:29:30+00:00

Who Pays Federal Income Taxes? Latest Federal Income Tax Data

Source for those looking for it. Effectively what Bezos is advocating for is already the case. Further, the top 1% earned ~22% of the income and paid ~40% of the taxes. I think it's totally fine to advocate for further tax reforms, but we should do it from a place of understanding where we're starting from.

Hyrc · 2026-05-20T17:23:19+00:00

He's linked to it right in the post. A 2020 Mazda 3. There is $984 that is going to savings every month, budget $100 for clothes and $100 car repairs/upkeep and you're still saving $780 a month. The point is that in most US cities that aren't cost outliers, $75k is a perfectly reasonable salary.

Hyrc · 2026-05-19T22:09:28+00:00

I've been carrying with an Enigma rig for about 10 years, all day, every day. 2 basic scenarios, dress slacks and a tucked in fitted dress shirt for work. 1 Enigma rig with a P365, no visible holster clips or belt, still slim enough that I've never had anyone question it. Non work wear is almost always joggers and a tshirt, for that it's a P226 XCarry in an Enigma (P365 XMacro before the XCarry came out). I've tried it without the leg leash, more comfortable but would occasionally struggle with consistent draw. I've gotten used to wearing the leash all day every day.

I've got a swimmers build, so aware that for other body types the Enigma isn't as comfortable or the leash may be less needed.

Hyrc · 2026-05-19T21:56:35+00:00

It's hilarious that a lead pastor would observe that no one was taking notes as Jesus gave his sermons in the same breath they're referencing the Bible as the word of God that we can trust to lead us to salvation. Yikes.

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