Hacker News new | ask | show | jobs
by piva00 37 days ago
The distribution will go into services that compound the 5k-10k across society, not to individuals.

Education returns the investment to a nation at around 9%/year. Transportation infrastructure (especially if it's not only for roads in dense urban centres) also has a decent ROI. Investment in science, fundamental research that most private entities don't have the risk appetite for, has a massive ROI for a nation over time.

Providing public services and safety nets for a society also free up humans to take risks such as starting businesses, if you know you will be able to survive with dignity even if it all crashes and burns you are more inclined to try out that business idea instead of being stuck at a bad job. It makes bad jobs also more unattractive, requiring better salaries which reduces the gap between the haves and have-nots, this lowers crime, increases social cohesion, etc.

What exactly is the benefit for society of not taxing wealthy people out of 2% of their wealth? They mostly don't use that wealth to invest in risky ventures, they rely on banks for that.