4 ms·

This is another example of why aid programs should be universal. Send every citizen a cheque for the same amount, and I mean everyone (even Bezos and Musk). One

by rapind 4y ago

This is another example of why aid programs should be universal. Send every citizen a cheque for the same amount, and I mean everyone (even Bezos and Musk). One system built competently. Way lower risk of fraud or corruption (qualifiers exacerbate fraud, gatekeepers policing qualifiers create corruption). It’s not like Bezos will cash this cheque.

clort 4y ago
You'd better believe he would certainly cash every cheque that comes his way. He once claimed $4000 tax credit for his children even when he wasn't entitled to, see https://www.businessinsider.com/jeff-bezos-claimed-tax-credit-for-children-propublica-2021-6?op=1&r=US&IR=T https://www.businessinsider.com/jeff-bezos-claimed-tax-credi... Of course he won't be doing anything so mundane personally, people like him will have teams whose job it is to squeeze every cent.
- hervature 4y ago
  > he wasn't entitled to He actually was entitled to it. His earnings in 2011 were below $100,000. I'm all for keeping people honest, but let's not lie.
  - clort 4y ago
    Ooh, his "earnings" See, in 2010 he was worth $12.6 billion. In 2011 it was $18.1 billion. Then in 2012 went up to $23.2 billion. These figures apparently come from Forbes, who calculate this stuff.. see https://www.therichest.com/lifestyles/jeff-bezo-years-earned-highest/ https://www.therichest.com/lifestyles/jeff-bezo-years-earned... I guess he didn't "earn" that money though.. so would definitely have been entitled to a benefit for folk who don't earn so much? My bad...
    - Spivak 4y ago
      Look, I’m all down for a wealth tax but under our current system this doesn’t count for anything. If my house doubles in value from $200k to $400k I didn’t make $200k in income in the eyes of the tax man. The fact that the criteria for the payout was just income and not a combination of income and assets is the fault of the people writing the legislation.
FpUser 4y ago
If they have any sense they'd just donate it back.
mdavis6890 4y ago
+1 Million on this! Our efforts to avoid accidentally helping a rich person via means testing cause for more damage to our ability to help poor and middle class people. Just give everybody the same amount of cash and leave it at that! There are few enough rich people (almost by definition) that it won't save much to exclude them.
- newbamboo 4y ago
  I feel like the public, even in may 2022, just can’t grasp the basic concept of inflation. A better way than dropping cash out of helicopters, or mailing checks, is to give people tax money back in the form of a standard deduction. It’s almost like people have thought about this stuff already.
  - mdavis6890 4y ago
    Any way that you give people more money without also increasing the supply of stuff to buy will generate inflation for those things that those people want to buy. If you target the money to certain people, then the things those people buy will inflate. If you target the money to certain stuff (like education), then that is what will inflate. I don't think changing the mechanism to a standard deduction changes this - except maybe to focus the inflation on taxpayers and what they buy.
omegalulw 4y ago
This doesn't well thought out either. What if you need to send larger amounts of money? Sending out money to everyone works when it's a reasonably small amount.

by rapind 4y ago

clort 4y ago

You'd better believe he would certainly cash every cheque that comes his way. He once claimed $4000 tax credit for his children even when he wasn't entitled to, see https://www.businessinsider.com/jeff-bezos-claimed-tax-credit-for-children-propublica-2021-6?op=1&r=US&IR=T https://www.businessinsider.com/jeff-bezos-claimed-tax-credi... Of course he won't be doing anything so mundane personally, people like him will have teams whose job it is to squeeze every cent.

hervature 4y ago
> he wasn't entitled to He actually was entitled to it. His earnings in 2011 were below $100,000. I'm all for keeping people honest, but let's not lie.
- clort 4y ago
  Ooh, his "earnings" See, in 2010 he was worth $12.6 billion. In 2011 it was $18.1 billion. Then in 2012 went up to $23.2 billion. These figures apparently come from Forbes, who calculate this stuff.. see https://www.therichest.com/lifestyles/jeff-bezo-years-earned-highest/ https://www.therichest.com/lifestyles/jeff-bezo-years-earned... I guess he didn't "earn" that money though.. so would definitely have been entitled to a benefit for folk who don't earn so much? My bad...
  - Spivak 4y ago
    Look, I’m all down for a wealth tax but under our current system this doesn’t count for anything. If my house doubles in value from $200k to $400k I didn’t make $200k in income in the eyes of the tax man. The fact that the criteria for the payout was just income and not a combination of income and assets is the fault of the people writing the legislation.

FpUser 4y ago

If they have any sense they'd just donate it back.

mdavis6890 4y ago

+1 Million on this! Our efforts to avoid accidentally helping a rich person via means testing cause for more damage to our ability to help poor and middle class people. Just give everybody the same amount of cash and leave it at that! There are few enough rich people (almost by definition) that it won't save much to exclude them.

newbamboo 4y ago
I feel like the public, even in may 2022, just can’t grasp the basic concept of inflation. A better way than dropping cash out of helicopters, or mailing checks, is to give people tax money back in the form of a standard deduction. It’s almost like people have thought about this stuff already.
- mdavis6890 4y ago
  Any way that you give people more money without also increasing the supply of stuff to buy will generate inflation for those things that those people want to buy. If you target the money to certain people, then the things those people buy will inflate. If you target the money to certain stuff (like education), then that is what will inflate. I don't think changing the mechanism to a standard deduction changes this - except maybe to focus the inflation on taxpayers and what they buy.

omegalulw 4y ago

This doesn't well thought out either. What if you need to send larger amounts of money? Sending out money to everyone works when it's a reasonably small amount.