4 ms·
Take it from the rich people who have primarily hoarded all that money, and give it to poor people who are on the brink of death.
by clint 6y ago
Take it from the rich people who have primarily hoarded all that money, and give it to poor people who are on the brink of death.
- hpoe 6y agoThat doesn't suddenly change the amount of stuff there is to buy though.
- hanniabu 6y agoNo but it makes it more affordable, which increases spending, which improves the economy, which combats inflation. Or maybe we should continue the "trickle down economy" that has worked so, so well.
- ars 6y agoMore people buying things makes them less affordable, not more. (At least until supply adjusts.) I'm not understanding your logic - it seems backward to me. Also we have never actually done "trickle down", it's a bogyman people like to trot out, not something actually done.
- lun4r 6y agoThat surely would be a quick way to turn it all into inflation
- pkulak 6y agoOnly redistribute half of it.
- xhkkffbf 6y agoExactly. If the rich are happy to leave it in a bank account gathering dust, it doesn't affect prices. But when everyone is actively bidding for scarce assets, we get inflation.
- Tuna-Fish 6y agoRich people don't have tons of money sitting in bank accounts gathering dust.
- reedjosh 6y agoNo, they just have it in gold, stocks, real estate, art, etc... all of which probably doesn't gather much dust--maybe the gold, but if you can afford art, you can probably afford someone to clean it. I also agree that they have debt for that as well. No reason not to use debt to gain real assets when the fiat debt loses value regularly.
- williamdclt 6y agoNot if you "take it" with taxation and "give it" through social programs, I don't think
- CyberRabbi 6y agoIf giving it causes the economy to slow down it could have very hazardous effects. The challenge for lawmakers is how do we aid people in need without causing too much harm to the economy.
- Tuna-Fish 6y ago> Take it from the rich people who have primarily hoarded all that money That's not how any of this works. Rich people generally have much less of their assets as cash or cash-equivalent than poor people. They also in general have much more debt than poor people, both in absolute values and as proportion of their net worth. (Simply because they are able to take more debt, and with the neverending low interest rates, taking more debt and investing it is basically free money.)
- core-questions 6y agoDoesn't the "hoarding money" thing only even apply if you keep your money as literal physical cash in your mattress? If it's in a bank account, it's being lent out and is working, no?
- mypalmike 6y agoAside from primary home ownership, do wealthy individuals generally borrow money in order to invest it? My financial advisors have never suggested such a strategy.
- stainforth 6y agoThose assets can be converted to cash then and redistributed.
- deleted 6y ago[deleted]