96
What salary do you think would make you happy?
(lemmy.world)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 21 Jan 2024
96 points (93.6% liked)
Ask Lemmy
26980 readers
742 users here now
A Fediverse community for open-ended, thought provoking questions
Please don't post about US Politics. If you need to do this, try !politicaldiscussion@lemmy.world
Rules: (interactive)
1) Be nice and; have fun
Doxxing, trolling, sealioning, racism, and toxicity are not welcomed in AskLemmy. Remember what your mother said: if you can't say something nice, don't say anything at all. In addition, the site-wide Lemmy.world terms of service also apply here. Please familiarize yourself with them
2) All posts must end with a '?'
This is sort of like Jeopardy. Please phrase all post titles in the form of a proper question ending with ?
3) No spam
Please do not flood the community with nonsense. Actual suspected spammers will be banned on site. No astroturfing.
4) NSFW is okay, within reason
Just remember to tag posts with either a content warning or a [NSFW] tag. Overtly sexual posts are not allowed, please direct them to either !asklemmyafterdark@lemmy.world or !asklemmynsfw@lemmynsfw.com.
NSFW comments should be restricted to posts tagged [NSFW].
5) This is not a support community.
It is not a place for 'how do I?', type questions.
If you have any questions regarding the site itself or would like to report a community, please direct them to Lemmy.world Support or email info@lemmy.world. For other questions check our partnered communities list, or use the search function.
Reminder: The terms of service apply here too.
Partnered Communities:
Logo design credit goes to: tubbadu
founded 1 year ago
MODERATORS
Take 1 trillion dollars from the billionaires in total, now distribute 1K to each person each month? Sounds great but you run out of money in only 3 months. Then what?
Enjoy the fruits of liberated market. /s Honestly though you assume that the only value of liquidating assets from billionaires is getting their dollar amounts moved from on bank to another. There is a reasonable assumption that freeing up that capital to be enthusiastically invested or utilized to meet demands would provide more economic growth than it sitting in large hoards being spent in most risk adverse ways or in near total whimsy.
There is also a reasonable assumption that taking away people’s money would result in a decreased expected value from future money, leading to a decrease in the motivation to produce that we currently enjoy.
Let’s say a person goes from having nothing to having $1M in the bank. How does a person do that? Well, in a free market they do that by providing $1M worth of value to other people.
Should that person, who we know is capable of providing serious value, go on to try to have two million? It would be good for our society if they did, so we’d better hope they do.
But if our history includes a day when all the billionaires had everything taken from them, this means that they now have to ask themselves if there’s any danger of going over the threshold, become “evil” in the eye of society, and stripped of their rights.
Suddenly being rich is quite dangerous. It alters the incentives. Assuming a very straightforward connection between potential reward and motivation, it could be very bad for the economy to liquidate the richest people’s accounts.
It's a fairly ahistorical assumption that wealth accumulattion is done mostly through wealth creation. Anticompetitive practices, rent seeking, and maximize value extraction are all common practices for incumbent market leaders.
You basically create precedent to give away excessive wealth in order to influence it's effects on the world instead of reinvesting it purely in mechasms of control of wealth.
We won't because billonairs don't hold the knowledge to run factories, they just monopolize infrastructure and collect a toll. We won't run out of money because the production is still there.
Then maybe our source of money should be that production, and not the personal wealth of billionaires?
Like, if you make a car that runs on diesel, and there’s a gallon of diesel in the world, you’ve made a car with 1 gallon of fuel.
If you make UBI that runs on the contents of billionaires’ bank accounts, and there’s three months’ worth of money in those bank accounts, you’ve made UBI that works for three months.