111–120 of 563 posts
I can deal with the responsibility of a leaky roof. I can't deal with another year of No Dogs Allowed.
I did some math a while ago on this topic: 40 million Americans live below the poverty line of $15,000 per year. [1] Total U.S. household net worth (excluding real estate) is around $54 trillion. [2] If every household above the poverty line donated 2.5% of their net worth annually to people living below the poverty line, we could erase poverty instantly. Here’s the math: 2.5% of $54 trillion = $1.35 trillion $1.35 t…
I did some math a while ago on this topic: 40 million Americans live below the poverty line of $15,000 per year. [1] Total U.S. household net worth (excluding real estate) is around $54 trillion. [2] If every household above the poverty line donated 2.5% of their net worth annually to people living below the poverty line, we could erase poverty instantly. Here’s the math: 2.5% of $54 trillion = $1.35 trillion $1.35 t…
1) After how many years of 2.5% annual donation would their own wealth drop until they thenself become poor? Donating 2.5% means that you get poorer and poorer over time unless you can make more than that per year back. 2.5% of wealth also means non-liquid assets such as house, how do you donate that? Get credit? If you are middle class and your house etc is eg 1M$ net worth you are giving 25k$ per year. At 0.5M net…
>.5% of wealth also means non-liquid assets such as house
But they said:
>Total U.S. household net worth (excluding real estate)
The rest of your comment, to be honest, just sounds like you fundamentally don't like poor people and have some strong biases against them.
Earlier quoted context omitted.
You forgot the part where that causes massive inflation.
These are non real estate assets so they're already circulating through the economy in some way or another. It wouldn't cause inflation.
If they said "income" it'd still shoot up the velocity of money, since poor people have higher spending rates.
Earlier quoted context omitted.
Vehicles in general. In Houston, I share a car with my girlfriend since I work from home. But some days I don't feel very independent when I want to run an errand while she's at work. I'll look up the price of a used Corolla and think about all the additional expenses, and I'm immediately disabused of the idea. Instead, I decided to book some motorcycle lessons so I can use a $3000 moto. But then I need to pay for li…
It doesn't have to be a expensive. Buy an older cheaper car, don't put comprehensive insurance on it. If you don't drive it much, there's really not that much maintenance work. Pretty much just an annual oil change. I have an old jeep that I use for local driving. Bought it for about $5k. I live in Michigan, where insurance premiums are top 5 in the nation. I pay $60/month for insurance. Probably could get it lower w…
I'll get a $6000 Mazda this weekend and put liability insurance on it. Now I can stop moping around on HN. I'll miss it though.
I did some math a while ago on this topic: 40 million Americans live below the poverty line of $15,000 per year. [1] Total U.S. household net worth (excluding real estate) is around $54 trillion. [2] If every household above the poverty line donated 2.5% of their net worth annually to people living below the poverty line, we could erase poverty instantly. Here’s the math: 2.5% of $54 trillion = $1.35 trillion $1.35 t…
For a day.
A lot of people below the poverty line would spend all the money on trips and luxuiry goods. And would be right back where they've started.
Also, the question is why would anyone want to work, if you would be given money for free even if you don't work anywhere (I mean, you're below the poverty line)?
According to https://www.ers.usda.gov/topics/food-nutrition-assistance/fo... 1 out of 7 US inhabitants have food insecurity. And this is a govt website likely to underestimate the statistic
Earlier quoted context omitted.
God forbid we touch Obamacare though.
The ACA was a huge compromise and didn’t really do anything to tackle why American healthcare costs are so high. I can see it being washed away for a plan that is actually better, and that isn’t going back to the way things were before it.
- the individual mandate - % required spending on actual Medicare care by health insurers (limiting administrative and marketing expenses)
But each of those elements were later removed either legislatively or judicially.
I did some math a while ago on this topic: 40 million Americans live below the poverty line of $15,000 per year. [1] Total U.S. household net worth (excluding real estate) is around $54 trillion. [2] If every household above the poverty line donated 2.5% of their net worth annually to people living below the poverty line, we could erase poverty instantly. Here’s the math: 2.5% of $54 trillion = $1.35 trillion $1.35 t…
You forgot the part where that causes massive inflation.
If so, sounds like morally something is fundamentally wrong if we require poor people to function. But i'm not an economist, so i've got zero feedback here.
I did some math a while ago on this topic: 40 million Americans live below the poverty line of $15,000 per year. [1] Total U.S. household net worth (excluding real estate) is around $54 trillion. [2] If every household above the poverty line donated 2.5% of their net worth annually to people living below the poverty line, we could erase poverty instantly. Here’s the math: 2.5% of $54 trillion = $1.35 trillion $1.35 t…