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> An annual wealth tax applied to the world’s richest would raise U.S. $2.52 trillion a year > An annual tax on the world’s richest would be enough to lift 2.3

> An annual wealth tax applied to the world’s richest would raise U.S. $2.52 trillion a year > An annual tax on the world’s richest would be enough to lift 2.3 billion people out of poverty So, the US govt printed an additional $2 Trillion last year. How many people did it lift out of poverty?

fuzzfactor 5y ago
>How many people did it lift out of poverty? Well, that's a trick question without considering how many were or will be knocked down a notch or two in living standards at the same time, including many pushed into actual poverty themselves, only with lingering downward momentum that "keeps on giving" in ways that are opposite of those being "lifted".
kadoban 5y ago
https://www.census.gov/library/stories/2021/09/who-was-lifted-out-of-poverty-by-stimulus-payments.html https://www.census.gov/library/stories/2021/09/who-was-lifte... 11.7 million or so, for $400 billion accounted for. I'll leave others to track down the rest.
- drekipus 5y ago
  "if we give people more money, their reported income becomes higher" I mean, sure.. but I'd want to see the flow on effects. (Health, education, jobs, etc).
  - kadoban 5y ago
    From my experience it heads in the same direction, though the exact numbers will differ depending on exactly what you're asking. Looking up some data on UBI might be worthwhile, even if it's not the same as ad hoc "stimulus".
thazework 5y ago
Note the paper advocates two separate policies (the second even less likely to happen than the first due to lack of political will) - taxing the global richest; spending it on the global poorest. Printing money isn't terribly relevant to this proposal since most of the global poor do not live in countries that can print US $.
m-p-3 5y ago
> So, the US govt printed an additional $2 Trillion last year. How many people did it lift out of poverty? It devalues the dollars for everyone, so the rich gets a bit poorer overall (unless they get a substantial slice of that 2T$, which is likely if they take care of some government contracts), while the poor are poorer too.
- ompaLompa 5y ago
  Anyone holding cash assets gets poorer. But the rich have very little (no) cash holdings.

fuzzfactor 5y ago

>How many people did it lift out of poverty? Well, that's a trick question without considering how many were or will be knocked down a notch or two in living standards at the same time, including many pushed into actual poverty themselves, only with lingering downward momentum that "keeps on giving" in ways that are opposite of those being "lifted".

kadoban 5y ago

https://www.census.gov/library/stories/2021/09/who-was-lifted-out-of-poverty-by-stimulus-payments.html https://www.census.gov/library/stories/2021/09/who-was-lifte... 11.7 million or so, for $400 billion accounted for. I'll leave others to track down the rest.

drekipus 5y ago
"if we give people more money, their reported income becomes higher" I mean, sure.. but I'd want to see the flow on effects. (Health, education, jobs, etc).
- kadoban 5y ago
  From my experience it heads in the same direction, though the exact numbers will differ depending on exactly what you're asking. Looking up some data on UBI might be worthwhile, even if it's not the same as ad hoc "stimulus".

thazework 5y ago

Note the paper advocates two separate policies (the second even less likely to happen than the first due to lack of political will) - taxing the global richest; spending it on the global poorest. Printing money isn't terribly relevant to this proposal since most of the global poor do not live in countries that can print US $.

m-p-3 5y ago

> So, the US govt printed an additional $2 Trillion last year. How many people did it lift out of poverty? It devalues the dollars for everyone, so the rich gets a bit poorer overall (unless they get a substantial slice of that 2T$, which is likely if they take care of some government contracts), while the poor are poorer too.

ompaLompa 5y ago
Anyone holding cash assets gets poorer. But the rich have very little (no) cash holdings.