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by legitster
510 days ago
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> Every single person in America could be lifted above the poverty line with a one-time cash subsidy of around $10,000 per impoverished family (and about $7,000 for impoverished individuals). The total cost would be $170 billion, a little over 5% of the wealth currently controlled by 400 individuals. The visualization is good, but the content is ... fraught. I'm all for wealth redistribution and ending inequality, but analyzing wealth 1:1 with cash isn't a serious way to think about the issue. We should all realize that liquidizing Amazon shares and turning them into cash that floods the market wouldn't do anything other than gut pensions and create inflation. It's better to think of ways of getting wealth (not cash) out from under billionaires. And it's something we should do because we believe this kind of wealth is bad for society, not because we think it will magically give us free stuff. |
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