Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
The fundamental truth about the resources of the 1% that you missed, is that it is not renewable, like the federal budget. If the federal budget has 1 trillion dollars to spend, that means they can spend that every year, because more taxes come in every year. But the 1% billionaires? That isn't their income, that's their net worth. If you spend it all in a year or two in handouts, it's now gone. (Someone did the math, the handout costs 2.48 T, and that's if you only hand out to households, not people.). Those billionaires make most of their money on capital gains - take away their capital and no more gains. (Not to mention the collapsing of the stock exchange.) So then what do you do in year 3 when the 1% has been drained and are now middle and low class like the rest of us? Then where do you get the money?
Unless I way miss my guess, you are not a $0.01% billionaire. Warren Buffet turned over his entire fortune to Bill Gates a decade or so ago and whenever I happen to see his net worth it is the same as it ever was. Bill Gates himself has given billions away and he remains one of the richest men on earth. Just because the o.p. was imprecise and speculative in their o.p. that doesn't mean that I (or you) have to be. Unless you want to use the shaky premise as ammunition. You're better than that. Forget the o.p. for a minute, lets take my proposal on its face. $20K/yr. for long term unemployed who used to make that much, or more, in the past. $20K/yr for any household that now qualifies for any of the usual programs: TANF, EBT, Section 8, WIC, etc. What do you think now?
Forget the o.p. for a minute, lets take my proposal on its face. $20K/yr. for long term unemployed who used to make that much, or more, in the past. $20K/yr for any household that now qualifies for any of the usual programs: TANF, EBT, Section 8, WIC, etc. What do you think now?
And that is what I have repeatedly suggested in this thread, it would replace the programs listed in that post, as well as unemployment insurance if a person did not have other income,HUD vouchers and EITC. It would save money-just look at the maximum amounts payable with EITC.
$6,242 with three or more qualifying children
$5,548 with two qualifying children
$3,359 with one qualifying child
$503 with no qualifying children
Unless I way miss my guess, you are not a $0.01% billionaire. Warren Buffet turned over his entire fortune to Bill Gates a decade or so ago and whenever I happen to see his net worth it is the same as it ever was. Bill Gates himself has given billions away and he remains one of the richest men on earth. Just because the o.p. was imprecise and speculative in their o.p. that doesn't mean that I (or you) have to be. Unless you want to use the shaky premise as ammunition. You're better than that. Forget the o.p. for a minute, lets take my proposal on its face. $20K/yr. for long term unemployed who used to make that much, or more, in the past. $20K/yr for any household that now qualifies for any of the usual programs: TANF, EBT, Section 8, WIC, etc. What do you think now?
Yeah but, even if you confiscated all of their wealth your only going to come up with about $1T, still not enough, and as pkbab5 pointed out the following year you get nothing. The babies still want to be fed, but the teat is empty.
Yeah but, even if you confiscated all of their wealth your only going to come up with about $1T, still not enough, and as pkbab5 pointed out the following year you get nothing. The babies still want to be fed, but the teat is empty.
Did you read my post? Did I or anyone say anything about confiscating $17 Trillion? Which btw would keep the program running for a whole lot longer than just one year. Come on. What if, every year one or two Trillion were taxed out of the 1%. You don't think they would have made it back by next year? I'm betting they would. In fact I'm strongly suspecting that when tax time rolled around, even with the... ... tithe... next year it would be closer to $18T ripe for the plundering. Woo Hoo. Re-Distribution 1.0. Kind of like milking the cow instead of butchering it. Sustainable harvesting.
Did you read my post? Did I or anyone say anything about confiscating $17 Trillion? Which btw would keep the program running for a whole lot longer than just one year. Come on. What if, every year one or two Trillion were taxed out of the 1%. You don't think they would have made it back by next year? I'm betting they would. In fact I'm strongly suspecting that when tax time rolled around, even with the... ... tithe... next year it would be closer to $18T ripe for the plundering. Woo Hoo. Re-Distribution 1.0. Kind of like milking the cow instead of butchering it. Sustainable harvesting.
Dude, those are very nice dreams, but math just doesn't work that way. Nor does reality. There will not be 18T ripe for the plundering, nor will there be any 1%'s remaining as US citizens. Are you crazy? If the U.S. stole that much money from me I'd be gone too. Ni-hao, anyone?
Did you read my post? Did I or anyone say anything about confiscating $17 Trillion? Which btw would keep the program running for a whole lot longer than just one year. Come on. What if, every year one or two Trillion were taxed out of the 1%. You don't think they would have made it back by next year? I'm betting they would. In fact I'm strongly suspecting that when tax time rolled around, even with the... ... tithe... next year it would be closer to $18T ripe for the plundering. Woo Hoo. Re-Distribution 1.0. Kind of like milking the cow instead of butchering it. Sustainable harvesting.
I think you'd better get your eyes checked buddy, I said $1T (one trillion), and again, that is not enough to sustain a welfare state. Your wealth farming analogy is more parasitic and would kill the host, which ultimately determines your fate. Do we suffer from disparities, yes we do, but in a capitalist society, that has always been the case and likely always will. If you want to live in a welfare state, move to Norway or Sweden.
Dude, those are very nice dreams, but math just doesn't work that way. Nor does reality. There will not be 18T ripe for the plundering, nor will there be any 1%'s remaining as US citizens. Are you crazy? If the U.S. stole that much money from me I'd be gone too. Ni-hao, anyone?
And good riddance. Or would you really miss people who set up corporate entities that are traded on the NYSE but whose entire operations are based overseas? If the Global Capitalists left, the second string would come off the bench and they would have to hire Americans. No need for the $20K Basic Income. I could be wrong, however, but I don't think they'd leave.
Last edited by Leisesturm; 12-16-2015 at 01:54 PM..
Take all the monies collected for all social services and then pay every single person in the country over the age of 18 $20,000 per year. But all social services are fully eliminated. No welfare, no food stamps, no unemployment, no housing money.... NOTHING.
People can take their $20K and use it to live on if they don't desire to work. Or, if they want to achieve more they can work in any way they want to. No one needs to beg for money. That's over. And the money is static.
How think ye?
Why should anyone be GIVEN any money? I wouldn't mind it myself but I don't agree that it should be done. First it's $20k, then they'll demand $30k and on and on. People don't know how to handle money in the first place in will blow through it.
You want money, work for it. It's as simple as that.
You want money, work for it. It's as simple as that.
Work where? We've covered this. Work is going away at an ever increasing clip. Innovation, automation, greed. It adds up to a growing population of people who would like to work but simply cannot find any.
First it's $20k, then they'll demand $30k and on and on. People don't know how to handle money in the first place in will blow through it.
and if they demand it..so f'in what? There are states that give $170 a month to welfare recipients, I'm sure more than a few have demanded more but it hasn't seemed to change what they are receiving which in almost every state is less than welfare recipients were receiving in 1996.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
