1% Gained 82% of 2017 Wealth Created

[Okeefenokee]

I’m just enjoying a Thomas Sowell book and trying to figure out where his analysis of economics is wrong.

You can redistribute if you want. A little redistribution will probably only lead to a little disencentive for risk taking. A lot of redistribution should pretty much kill it.

So how far do you want to turn that dial? Half way? A third? A fifth? What?

I’m just the guy with the lowly BS degree here, you’re the rich guy with the PhDs. What’s the answer? I think Sowell makes a strong argument for allocating resources with maximum efficiency which means a minimum of meddling from bureaucrats. But he could be wrong. If so, why?

People don’t stop giving it their all because they only get $250K instead of a $million, and they certainly won’t slow down because they’re only getting $10 million instead of $100. After the first few mil the rest is scorekeeping. Change the prize to how many businesses you run, or how inspirational your business is (think Musk & Jobs) and ambitous people will aim for that.

10,000 people are available for every $250K job; it’s just luck of the person who got one.

Come on man. I only took 75% of what you worked for. What's the big deal?



Fuck, dude. You're nuts sometimes.

[Okeefenokee]

I bet ISIS destroying all that priceless historical shit messed up the assessment. They don't tell you about that.

[heydaralon]

18% is not neglible. If I had a dollar and I gave you 82 cents, I would still be able to get a rimjob from Hwen's mom with enough change left over to get a nice steaming bowl of cat meat soup.

[clubgop]

People don’t stop giving it their all because they only get $250K instead of a $million, and they certainly won’t slow down because they’re only getting $10 million instead of $100.

We talking about people or we talking about you? Cause people sure as will stop or be curtailed by 250,000 over a million. How the fuck are you supposed to take a risk and bet big when all you can guarantee is some stunted return? How are going to get a loan with a business plan that is 1/4 of what it was?

[Hastur]

Another way to see things:



Where's your collapse now?

[Hanarchy Montanarchy]

Oh, good.

As long as World Bank says their poverty isn't extreme, I guess everything is aces.

[Smitty-48]

Top 1% for income is $32,000 US dollars per year.

Top 1% for net worth is $700,000 US dollars.

The thing these left wingers leave out of their propaganda, is what is the cost of living where the 1% live?

For the vast majority of the 1%, the sum of their wealth represents buying a house, sending a couple kids to college, and then retiring.

And that's not a mansion, Harvard, and retiring to the Bahamas, more like a condo, state college, and a working retirement.

If these commies try to come for my 1%, I'ma 'bout ready to chuck em' out of a fuckin' helicopter, bet dat.

If the 99% try to come for our shit, nuke em' with hydrogen bombs, as otherwise, why did we even fight the Cold War in the first place?

If we wanted to hand our shit over to the world socialist revolution, we could have done that in 1945 and saved ourselves the trouble.

[BjornP]

The topic of wealth disparity, lack of opportunity, i.e. the "losers" of globalization, seems to be taken seriously enougly by those who most influence world finance. Universal Basic Income getting traction even at the upcoming WEF meeting in Davos, and by think tanks as unlikely as this:

https://www.adamsmith.org/news/rising-e ... sic-income

Current welfare systems are ill-suited to adapt to the challenges presented by automation and globalisation. That's the view of a new paper from the Adam Smith Institute ahead of the World Economic Forum meeting in Davos next week. Governments should look to Universal Basic Income experiments around the world as they seek to address the risks posed by large-scale changes to the labour market while retaining the benefits of trade and technological progress.

[Martin Hash]

People don’t stop giving it their all because they only get $250K instead of a $million, and they certainly won’t slow down because they’re only getting $10 million instead of $100.

We talking about people or we talking about you? Cause people sure as will stop or be curtailed by 250,000 over a million. How the fuck are you supposed to take a risk and bet big when all you can guarantee is some stunted return? How are going to get a loan with a business plan that is 1/4 of what it was?

Progressive tax rates apply to individuals wanting to buy a bigger yacht. I propose zero business taxes, and zero taxes on money that is invested into business that employees people. So a billionaire can become an even bigger billionaire faster than ever before... On paper. OF COURSE, there would need to be an Inheritance Tax, otherwise aristrocracy.

[nmoore63]

Oh, good.

As long as World Bank says their poverty isn't extreme, I guess everything is aces.

The MASSIVE improvement in the material lives of the worlds poor is nothing to laugh at.