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Absolute wealth has increased as the wealth gap increased. Standards of living for everyone have gotten better, but there is still an issue. Wealth is not just

by xupybd 6y ago

Absolute wealth has increased as the wealth gap increased. Standards of living for everyone have gotten better, but there is still an issue. Wealth is not just about your buying power it's also about your social status and power. A lot more status and power is concentrated with the few. This is a big problem if you care about individual freedoms. They tend to erode very quickly with a concentration of power.

young_unixer 6y ago
But it would also be against individual freedom to limit the amount of social status and power one can non-violently attain. I think the limit should be put when that power and status becomes physical violence.
- xupybd 6y ago
  I agree to a point. Wealth redistribution is a huge problem for individual freedom, but extreme wealth in equality is a big problem too. My solution would be to let things fail. No more government bail outs. Let people take big risks but make sure it falls on them. Prevent Monopolies and keep everyone honest.
missedthecue 6y ago
I don't think there is a very clear line where money turns into political power. After all, the most influential non-elected people in Washington aren't billionaires or close to it, and if the 2020 election cycle taught us anything, it was that the effect money has on political advantage is hilariously overestimated. How much did Bloomberg sink into his own race, as well as into backing the Florida Democrats, and also into backing McConnell's opponent in Kentucky? In excess of a billion dollars, and all of his backed candidates including himself failed spectacularly in their races.
AussieWog93 6y ago
I would agree with you 100% if it weren't for absolutely ludicrous house prices (for reference, I'm in Melbourne, but I've heard similar complaints from people in Canada and Hong Kong). My wife and I have a far higher than average household income, and even we're worried about how the hell we can afford to own our own home. God knows what the average single-income, working class family goes through.
- xupybd 6y ago
  I'm in NZ and it's craz I've here too. I don't know if that's a symptom of a wealth gap or something else. What ever it is it's a real issue. I personally think prices are inflated by low interest rates and the bubble is going to pop at some point.
  - AussieWog93 6y ago
    Thank God you guys have Jacinda, though. Our government doesn't have the balls to get rid of negative gearing, let alone completely nullifying tax deductions on mortgage repayments.
    - Mandatum 6y ago
      You have stamp duty and all sorts of other measures in place at a state level (looking at Land Tax in QLD) that at least generates revenue from this. New Zealand has none of these, and as a result property flipping is rampant - the turnover of property is 3-5x higher in parts of NZ than anywhere else in AU.
  - Mandatum 6y ago
    We've been saying that for 15 years though.. Sure the interest rates are rock-bottom right now but still most of our countries main investment is property. Until there's legislation to control rent or tax land, I think we're up shit creek.

by xupybd 6y ago

young_unixer 6y ago

But it would also be against individual freedom to limit the amount of social status and power one can non-violently attain. I think the limit should be put when that power and status becomes physical violence.

xupybd 6y ago
I agree to a point. Wealth redistribution is a huge problem for individual freedom, but extreme wealth in equality is a big problem too. My solution would be to let things fail. No more government bail outs. Let people take big risks but make sure it falls on them. Prevent Monopolies and keep everyone honest.

missedthecue 6y ago

I don't think there is a very clear line where money turns into political power. After all, the most influential non-elected people in Washington aren't billionaires or close to it, and if the 2020 election cycle taught us anything, it was that the effect money has on political advantage is hilariously overestimated. How much did Bloomberg sink into his own race, as well as into backing the Florida Democrats, and also into backing McConnell's opponent in Kentucky? In excess of a billion dollars, and all of his backed candidates including himself failed spectacularly in their races.

AussieWog93 6y ago

I would agree with you 100% if it weren't for absolutely ludicrous house prices (for reference, I'm in Melbourne, but I've heard similar complaints from people in Canada and Hong Kong). My wife and I have a far higher than average household income, and even we're worried about how the hell we can afford to own our own home. God knows what the average single-income, working class family goes through.

xupybd 6y ago
I'm in NZ and it's craz I've here too. I don't know if that's a symptom of a wealth gap or something else. What ever it is it's a real issue. I personally think prices are inflated by low interest rates and the bubble is going to pop at some point.
- AussieWog93 6y ago
  Thank God you guys have Jacinda, though. Our government doesn't have the balls to get rid of negative gearing, let alone completely nullifying tax deductions on mortgage repayments.
  - Mandatum 6y ago
    You have stamp duty and all sorts of other measures in place at a state level (looking at Land Tax in QLD) that at least generates revenue from this. New Zealand has none of these, and as a result property flipping is rampant - the turnover of property is 3-5x higher in parts of NZ than anywhere else in AU.
- Mandatum 6y ago
  We've been saying that for 15 years though.. Sure the interest rates are rock-bottom right now but still most of our countries main investment is property. Until there's legislation to control rent or tax land, I think we're up shit creek.