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kengr
May. 15th, 2016 02:09 am (UTC)
Fri, 02:56: 📷 ghettablasta: the one who really cares Kill the rich, redistribute their wealth. https://t.co/7O85qp08tK

Ok, 492 billionaires vs 16 million kids in poverty.

Let's call it 500 billionaires to make the math easier.

If you want to give each of those kids $1000, that's 16 *billion* dollars. Divided between 500 billionaires, that's $32 million each.

For someone with "only" a billion dollars, that's approximately 1/30th of their worth.

Of course there's the not so minor problem that having a net worth of a billion doesn't mean that you have 32 mill in *liquid* assets.

Now consider that $1000 each for those kids is a drop in the bucket.

So let's get radical. Let's take an average of a billion each from all those billionaires.

That gives you 500 billion dollars. Divided by 16 million kids gives them $31,250 each.

That's nice for *this* year, but what about next year?

You can't keep taking that much money from the top end folks. Because you are likely to either drive them out of the country (look what happened to the UK when its tax rates got too high for the higher end folks). Or worse, you'll be forcing them to sell assets and then not only will they no longer be billionaires, but you may be breaking up companies which could hurt the economy leading to more poverty.

Yet another case of "every problem has a simple, easy to understand *wrong* answer"

Yep, we need to get more from the wealthier people. But we have to hit the millionaires too. And keep things proportional.

Frankly, I suspect that a big step might be requiring that any profits above a certain percentage have to be split with the employees. And done so in a manner that gets a reasonable benefit to *all* levels of employees.

Of course, to be fair, there should be similar rules for distributing *losses*. With the caveat that you can't reduce anyone's wages below minimum wage.

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