Hacker News new | ask | show | jobs
by listenallyall 612 days ago
> more concerned about real human suffering.

Then your priorities are misdirected. The US Govt grabbing a few extra percent of billionaires' income would not reduce human suffering in any way.

If anything, the ultra-rich have been far more effective than governments at improving impoverished human lives by setting up charities and using them to directly send money to poor regions around the world, enabling clean water and food and basic health services.

1 comments

Yet the countries with the least amount of poverty (Northern Europe) have high taxes, a large welfare state and high redistribution
The US Govt, unlike any other country, has the ability to print unlimited amounts of the world's reference currency. It also has no effective cap on its annual deficit or total debt. In other words, anything that the US Govt chooses to spend money on, it already can, with little oversight and no limits. That's why collecting additional revenue from billionaires, or any other source, has no effect whatsoever on how that govt spends (or "redistributes") money. US Govt's priorities are military, social security (which actually does keep many older people out of poverty), healthcare, and paying interest on its debt. You'll need to change the core priorities (including reducing deficit & debt) before collecting more money actually goes towards the goals you're seeking.