4 ms·

What the “don’t worry about spending” and “we can just print more money” folks don’t realize is there is a direct line between these policies and wealth inequal

What the “don’t worry about spending” and “we can just print more money” folks don’t realize is there is a direct line between these policies and wealth inequality. And yet, so many people seem to both support an easy money environment forever, but also oppose rising wealth inequality without realizing they are intrinsically linked.

nkozyra 5y ago
Can you expand on this? You present a conclusion but i don't know how you arrived there.
lupire 5y ago
Printing money for poor people and printing money for rich people have very different effects on inequality.
- nostromo 5y ago
  No, they don’t. Money printed and given to poor people is immediately spent and trickles up to the ownership class. Inflation in the US tends to push up prices of limited assets, like real estate, rent, and investments faster than wages. The only way to increase welfare programs without increasing wealth inequality is to pay for your spending with taxation.
  - teachingassist 5y ago
    > Money printed and given to poor people is immediately spent and trickles up to the ownership class. For sure. It's first spent by poor people on things that poor people need (maybe several times over as it works its way through the economy and is meanwhile taxed), rather than being given directly to rich people. That's a massive difference to inequality.
  - dillondoyle 5y ago
    We could do it and simultaneously lift up the bottom & middle while taxing the very top to bring back at least a little balance. That's why the proposed Infra and other bills are written to be paid for mostly with very high earner taxes and savings like beefing up IRS enforcement. My concern is that if we pass say another 2-4T Republicans will revoke the .1% taxes and keep the spending.
  - machiaweliczny 5y ago
    I think some UBI that's funded from taxes would adjust economy properly. IMO something like 500$/month person would work well.
frankbreetz 5y ago
History tells otherwise. Times of large inflation have also been times off decreasing wealth inequality. https://www.lynalden.com/inflation/#benefit https://www.lynalden.com/inflation/#benefit

nkozyra 5y ago

Can you expand on this? You present a conclusion but i don't know how you arrived there.

lupire 5y ago

Printing money for poor people and printing money for rich people have very different effects on inequality.

nostromo 5y ago
No, they don’t. Money printed and given to poor people is immediately spent and trickles up to the ownership class. Inflation in the US tends to push up prices of limited assets, like real estate, rent, and investments faster than wages. The only way to increase welfare programs without increasing wealth inequality is to pay for your spending with taxation.
- teachingassist 5y ago
  > Money printed and given to poor people is immediately spent and trickles up to the ownership class. For sure. It's first spent by poor people on things that poor people need (maybe several times over as it works its way through the economy and is meanwhile taxed), rather than being given directly to rich people. That's a massive difference to inequality.
- dillondoyle 5y ago
  We could do it and simultaneously lift up the bottom & middle while taxing the very top to bring back at least a little balance. That's why the proposed Infra and other bills are written to be paid for mostly with very high earner taxes and savings like beefing up IRS enforcement. My concern is that if we pass say another 2-4T Republicans will revoke the .1% taxes and keep the spending.
- machiaweliczny 5y ago
  I think some UBI that's funded from taxes would adjust economy properly. IMO something like 500$/month person would work well.

frankbreetz 5y ago

History tells otherwise. Times of large inflation have also been times off decreasing wealth inequality. https://www.lynalden.com/inflation/#benefit https://www.lynalden.com/inflation/#benefit