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You're not wrong, and globally poverty has been plummeting. Standard of living has been rising faster than income because all consumed goods have been vastly im

You're not wrong, and globally poverty has been plummeting. Standard of living has been rising faster than income because all consumed goods have been vastly improved over time.

sirtaj 6y ago
Cost of education and healthcare has outpaced wage growth though, hasn't it? The 2-3 months you've calculated above represent 20-25% extra money to spend on those, much more if you hold the biggest expenditures (military and social security) at the same level. So it seems that the 1% could significantly fund the things you're hoping for.
- maerF0x0 6y ago
  >The 2-3 months you've calculated above represent 20-25% extra That would be a one time boost and then it'd be gone forever (not a recurring revenue) . remember it would degrade wealth/asset base by 100%. Not to mention the issue that you cannot spend assets the way you can cash, you'd have to find a buyer for them (such as foreign countries or the federal reserve), but then you've basically either nationalized the whole economy or sold it off to a foreign entity.
  - sirtaj 6y ago
    > That would be a one time boost and then it'd be gone forever (not a recurring revenue) I'm not sure it has to be non-recurring. Right now the 1% (just the 1%, not all non-labour wagers) takes home around 20% of national income in the US. If this was in line with the historical 10%, that's a significant yearly sum.
    - maerF0x0 6y ago
      yeah, we're talking past each other. I was specifically talking about a wealth tax. Income tax has different characteristics and is a different discussion point
xg15 6y ago
> globally poverty has been plummeting. Yes, globally, if you take all countries and also average over all social classes. We indeed have more millionaires and billionaires and also more countries with millionaires and billionaires. If you take a look at different social classes, wealth inequality is rising. > Standard of living has been rising faster than income because all consumed goods have been vastly improved over time. The Rust belt, the obesity epidemic and the opioid crisis would like a word with you.
- maerF0x0 6y ago
  > wealth inequality is rising. if you have compounding inflation then the absolute value of disparity between the rich and poor should be growing exponentially too, no?

You're not wrong, and globally poverty has been plummeting. Standard of living has been rising faster than income because all consumed goods have been vastly improved over time.

sirtaj 6y ago

Cost of education and healthcare has outpaced wage growth though, hasn't it? The 2-3 months you've calculated above represent 20-25% extra money to spend on those, much more if you hold the biggest expenditures (military and social security) at the same level. So it seems that the 1% could significantly fund the things you're hoping for.

maerF0x0 6y ago
>The 2-3 months you've calculated above represent 20-25% extra That would be a one time boost and then it'd be gone forever (not a recurring revenue) . remember it would degrade wealth/asset base by 100%. Not to mention the issue that you cannot spend assets the way you can cash, you'd have to find a buyer for them (such as foreign countries or the federal reserve), but then you've basically either nationalized the whole economy or sold it off to a foreign entity.
- sirtaj 6y ago
  > That would be a one time boost and then it'd be gone forever (not a recurring revenue) I'm not sure it has to be non-recurring. Right now the 1% (just the 1%, not all non-labour wagers) takes home around 20% of national income in the US. If this was in line with the historical 10%, that's a significant yearly sum.
  - maerF0x0 6y ago
    yeah, we're talking past each other. I was specifically talking about a wealth tax. Income tax has different characteristics and is a different discussion point

xg15 6y ago

> globally poverty has been plummeting. Yes, globally, if you take all countries and also average over all social classes. We indeed have more millionaires and billionaires and also more countries with millionaires and billionaires. If you take a look at different social classes, wealth inequality is rising. > Standard of living has been rising faster than income because all consumed goods have been vastly improved over time. The Rust belt, the obesity epidemic and the opioid crisis would like a word with you.

maerF0x0 6y ago
> wealth inequality is rising. if you have compounding inflation then the absolute value of disparity between the rich and poor should be growing exponentially too, no?