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> Tax the rich, redistribute the wealth. Most lottery winners end up broke, and in a worse place than where they started. How would this be any different? Beha
by al_borland 2y ago
> Tax the rich, redistribute the wealth.
Most lottery winners end up broke, and in a worse place than where they started. How would this be any different? Behaviors have to change. Throwing money at people won’t change their behaviors. They also won’t be very careful with how they spend/save free money.
Didn’t we see this play out during the pandemic stimulus? People got free money and spent it immediately, and then some. Stock prices went up for these companies with the healthy sales, making the rich richer, and the people went into more debt, because they spent more than they got. I’m sure there are exceptions, but that seemed to be the overall trend.
It seems the incentives need to change for companies, where the stock price or profit isn’t the only bottom line they need to care about. Where pulling the levers of increased wages or lower prices, at the expense of raw profits, help this new bottom line.
Leaving everyone without money is ultimately bad for business, because there is no one to sell to. The credit card industry is the only reason companies have gotten away with it so far, but I have to image that house will eventually collapse under its own weight.
- throwawayqqq11 2y agoWealth redistribution is not gifted money in lottery quantities. Tax income can be spent on affordable housing and any other public service. We need regulation to give the egoists boundaries and wealth redistribution to lower capital income and foster labour income. Changing incentives is hard.
- citizenpaul 2y ago> Most lottery winners end up broke, and in a worse place than where they started. Sorry but you've been had. This is anti poor propaganda and is 100% false. The overwhelming majority of lottery winners at much better off 10 years after winning. Most people don't go on a crazy endless bender when money comes to them but cause most people are normal.