141–150 of 552 posts
Can someone actually explain what Sam wants to do here? I've read the post 4 times and I still can't see an y sort of plan, numbers, etc to actually critique, Which is odd because he specifically ask you to give feedback but never follows through on presenting the actual idea. He does motivate why he thinks a share of the GDP is so he gets the why, but never actually gets into the what, and how. I mean the GDP isn't…
People already have a share in the GDP. That's what it is, the total domestic product, the sum of all the little parts. The problem is not that people don't have share in it (and this goes for every country, not just for the USA), but that they have a disproportionate share in it. Bill Gates' (to name a random American citizen) has a far larger share in the GDP than most other Americans. If you want to solve that rai…
> Bill Gates' (to name a random American citizen) has a far larger share in the GDP than most other Americans. If you want to solve that raise your taxes on the rich and lift up those that are at the lowest end of the scale. That will have a lot more effect than some fiction where you get to do a bunch of make-believe bookkeeping. Or go a step further do what nobody has the balls to do: tax wealth That's what all the…
Even our current methods of evaluating quantities and distribution of wealth are vague estimates, and that's without people incentivized by taxation to hide or minimize it.
A wealth tax that turns into anything but a buildings-and-cars tax is a fantasy from an enforcement perspective, and significant property taxes have issues of their own.
Someone should tell this guy about SPY/SPX.
Earlier quoted context omitted.
It's encouraging people to make their money be productive instead of stashing it under a mattress. That doesn't sound like a bad thing to me.
The rich aren't stashing most of their money under a mattress. Gates, Bezos, etc are worth billions, but that wealth is almost all based off of the stock prices in the companies they own percentagess of.
We could also take the route of the Federal Reserve purchasing up equities (The Bank Of Japan does this [1]), issuing deposit accounts to citizens directly (trivial for the Federal Reserve to support this [disclaimer: I work in the financial services industry, and feel qualified to make this statement]), and providing UBI to those accounts using the Federal Reserve as an intermediary/conduit (lookout Blackrock and Vanguard! there's a new index fund manager on the block!).
Voilà, Citizen's Dividend.
EDIT: The Federal Reserve operates independently of the US government, and does not require Congressional or Presidential approval to perform this "monetary policy". [2]
"Although an instrument of the U.S. Government, the Federal Reserve System considers itself "an independent central bank because its monetary policy decisions do not have to be approved by the President or anyone else in the executive or legislative branches of government, it does not receive funding appropriated by the Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms."
[1] https://www.bloomberg.com/news/articles/2017-07-18/boj-s-etf...
American tech élite is funny... USA can't even a normal healthcare BUT the tech élite is all about Universal Basic Income, Transhumanism, the dangers of AI, going to Mars and saving the suburbs/car lifestyle. Can't they just wake up and put their mental energy and money on something that actually make sense?
If I were in a similar position I'd likely opt for the most fun-sounding futuristic project that doesn't involve all that pain.
People already have a share in the GDP. That's what it is, the total domestic product, the sum of all the little parts. The problem is not that people don't have share in it (and this goes for every country, not just for the USA), but that they have a disproportionate share in it. Bill Gates' (to name a random American citizen) has a far larger share in the GDP than most other Americans. If you want to solve that rai…
This idea is basically UBI couched in capitalist terms. If every American gets a share of GDP, and GDP is concentrated, then that means that either 1) the share of GDP that each person gets is tiny and inconsequential (see: GOP-style tax cuts) or else 2) you need progressive taxation. Another difference, aside from wording/marketing, is that the UBI is implemented as a progressive redistribution of future wealth gene…
the one common response they all have when their plans are revealed for what they are and comparisons made to what others have done is always the same , we will do it right this time.
it is easy to prey on the greed of anyone by simply remaking it into the person having their stuff taken as being the real greedy one.
Earlier quoted context omitted.
The drawback of taxing wealth is that it distorts markets, it discourages saving. EDIT: Can't comment ("You're posting too fast, blah blah blah"). Here are some replies to the comments bellow: > It's encouraging people to make their money be productive instead of stashing it under a mattress. When you have money in the bank, you're effectively lending most of it to other people. Your money is "productive", which is e…
Discouraging savings is actually the point. We should tax money that sits idle and provides tax benefits to money invested. If you can build wealth around being active rather than just reaping the benefit of interest of interests then that should be encouraged rather than just grabbing and keeping.
Can someone actually explain what Sam wants to do here? I've read the post 4 times and I still can't see an y sort of plan, numbers, etc to actually critique, Which is odd because he specifically ask you to give feedback but never follows through on presenting the actual idea. He does motivate why he thinks a share of the GDP is so he gets the why, but never actually gets into the what, and how. I mean the GDP isn't…
It's basic income branded in a way that's more attractive for economically right-wing people (aka "capitalists").