The Dispossessed -
The classic tale of two planets torn apart by conflict and mistrust... and the man who risks everything to reunite them.
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Thursday, 28 December 2017
quote [ What we should … investigate is which types of inequality are fair, and which are not. “Inequality is not the same thing as unfairness;…it is the latter that has incited so much political turmoil in the rich world today,”
What’s unfair Corporate wins in politics, The growth of the stock market, Healthcare financing, Mergers, The rise of temps, these problems. They’re not a consequence of seemingly unstoppable forces like globalization and technology, but of a dysfunctional economy. And with the right policies, they can be reversed. ] This seems to be a better question.
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midden said @ 12:37am GMT on 29th December
The key is to keep taxes high enough to mostly, but not completely, spread that economic growth around, so as to support further investing by the wealthy. The economy is growing at 6%? Great! You deserve to increase your personal wealth by a reasonable amount proportional to your investment in the economy, but you do not deserve to pocket the vast majority of that economic growth.
And of course, that taxation should be progressive. It shouldn't be too hard to become a multi-millionaire in a lifetime and have pretty much everything you ever want or need. Hundreds of millions? That should be quite difficult. Billions? Damn hard. Tens of billions? Near impossible.
midden said @ 12:44am GMT on 29th December
The key is to keep taxes high enough to mostly, but not completely, spread that economic growth around, so as to support further investing by the wealthy. The economy is growing at 6%? Great! You deserve to increase your personal wealth by a reasonable amount proportional to your investment in the economy, but you do not deserve to pocket the vast majority of that economic growth.
And of course, that taxation should be progressive. It shouldn't be too hard to become a multi-millionaire in a lifetime and have pretty much everything you ever want or need. Hundreds of millions? That should be quite difficult. Billions? Damn hard. Tens of billions? Near impossible.
There are currently 540 listed billionaires in the US, whose (known) net worth equals about 8% of the country's GDP. I wouldn't be at all surprised if those folks have at least double the wealth that the IRS knows about.
<-- Entry / Current Comment
midden said @ 12:37am GMT on 29th December
The key is to keep taxes high enough to mostly, but not completely, spread that economic growth around, so as to support further investing by the wealthy. The economy is growing at 6%? Great! You deserve to increase your personal wealth by a reasonable amount proportional to your investment in the economy, but you do not deserve to pocket the vast majority of that economic growth.
And of course, that taxation should be progressive. It shouldn't be too hard to become a multi-millionaire in a lifetime and have pretty much everything you ever want or need. Hundreds of millions? That should be quite difficult. Billions? Damn hard. Tens of billions? Near impossible.
There are currently 540 listed billionaires in the US, whose (known) net worth equals about 8% of the country's GDP. I wouldn't be at all surprised if those folks have at least double the wealth that the IRS knows about.
