- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: If we redistributed all wealth in the U.S. today, how long before it comes back to now?
Posted on 6/12/20 at 10:11 am to Sneaky__Sally
Posted on 6/12/20 at 10:11 am to Sneaky__Sally
quote:
Widespread, sweeping changes - from gov't structure, educational goals and costs, healthcare (which shouldn't be tied to employment in today's world), criminal justice, economic policy, etc.
You speak in vague platitudes as opposed to concrete ideas. What do you actually mean, as I’m inferring you mean more government.
0
Posted on 6/12/20 at 10:35 am to TheCaterpillar
quote:
Before it ALL comes back? Never.
There are a lot of rich people that were born that way and likely don't have the ability to build up generational wealth themselves if starting from zero.
But yes, a lot of super smart folks would get their money back quickly.
If you allowed the same capitalist system to be in place then yes some who inherited wealth would not get it back, most who earned their wealth would. There would be some new money rich people who have talents/smarts but formerly lacked capital to advance their ideas who would rise to take the place of former rich stupid people.
Posted on 6/12/20 at 10:43 am to tetracarbon
If it would revert to how it is now so quickly, what's the risk in trying and finding out?
Posted on 6/12/20 at 10:46 am to tetracarbon
Look at all of the athletes and “musicians” that have earned tens of millions and then wind up broke. I think you can find your answer somewhere in there.
Posted on 6/12/20 at 10:52 am to tetracarbon
It would be about 1 year and most rich people you have now would be rich again. Most people who are poor are poor because they make terrible decisions, especially with their money.
Posted on 6/12/20 at 10:56 am to tetracarbon
quote:
I'd give it about three generations.
There's a reason most poors are poor, and I doubt it's lack of opportunity.
Not a simple issue. Not everyone made their wealth by working hard and being smart. Many of the elites got there via crony capitalism, corruption, bribery, crime and over regulation.
If we can actually get to a free market, I don't think there would be such an imbalance again anytime soon.
Posted on 6/12/20 at 11:02 am to SlowFlowPro
quote:
if you just give these people money,
I don’t think anyone serious is thinking in these terms relative to redistribution of wealth. I believe that would entail taxing the super rich to alter the social contract and fund things such as higher education, drug rehabilitation programs, and general healthcare. Jobs programs under large public works projects would be another.
This post was edited on 6/12/20 at 11:04 am
Posted on 6/12/20 at 11:06 am to TheCaterpillar
quote:I disagree and because while all of this.
Before it ALL comes back? Never.
quote:. Is true, there some poor people that would realize they needed to be smart and invest it. The types that do build themselves into something from nothing with hard work. So at the end I think it would balance out.
There are a lot of rich people that were born that way and likely don't have the ability to build up generational wealth themselves if starting from zero.
Posted on 6/12/20 at 11:09 am to tetracarbon
The current wealth disparity in this country is a result of Republican trickle down economics policy that started with Ronald Reagan. So the real question is, how long do Republicans have control of the federal government?
Posted on 6/12/20 at 11:09 am to tetracarbon
Not long. Self-made wealth will quickly obtain it again because they know how to extract it from those who don't know how to do it.
Posted on 6/12/20 at 11:18 am to tetracarbon
I mean the first thing that’ll happen is super high inflation that renders the newly “wealthy” back to poor again. Most won’t want to dig ditches or pump porta potties if they’ve got money in the bank. So, those things that we take for granted as cheap labor will suddenly become expensive. From there, I’d give it 20 years to get redistributed roughly as it is now. Some of the generational wealth may take longer, but I’d guess that in 20 years at least 90% of the folks who are broke now would be broke then and vice versa.
Posted on 6/12/20 at 11:31 am to tetracarbon
quote:
If we redistributed all wealth in the U.S. today, how long before it comes back to now?
About 30 days. The lottery and gaming industry’s would get the lion share of the re-distributed wealth.
Posted on 6/12/20 at 11:35 am to tetracarbon
10 years. Most poor people are poor because they make bad decisions. Wouldn't take long.
Posted on 6/12/20 at 11:42 am to tetracarbon
Well, I think what he is asking is that if it WAS distributed evenly, not all the complications etc of doing so. If everybody (period) was equally given the same amount of money with no leakage or thefts etc. (which is impossible, but thats not his question). Politicians..everybody.
I would say never. It would result in a terminal destruction of the nation and we would end up being a thousand different warring semi-states. Other countries would probably eventually invade and take us over.
I would say never. It would result in a terminal destruction of the nation and we would end up being a thousand different warring semi-states. Other countries would probably eventually invade and take us over.
Posted on 6/12/20 at 11:44 am to tetracarbon
It would take less than a decade in my opinion. My aunt left me $10k and gave her kids $150k each and they blew through it in less than 6 years. Most of my inheritance is sitting in my kids college savings account and has doubled. If my kids stay in state and get TOPs they will graduate 100% debt free. We really need to make personal finance mandatory in our schools if we want to close the wealth gap.
Posted on 6/12/20 at 11:46 am to tetracarbon
It’s absolutely insane that some even consider this a possibility. I’m far from wealthy but I hold no jealousy towards those that are wealthy.
Posted on 6/12/20 at 12:03 pm to tetracarbon
quote:
If we redistributed all wealth in the U.S. today, how long before it comes back to now?
I think concentration of wealth is an ages old trend that happens in all societies so I think that would happen again. However, I don't think all of the same people would end up in the same places.
It would be interesting to see how many of those who are on the top would end up on the bottom and how many of those who are are the bottom would end up on the top.
There are a ton of people at the higher levels without much drive or talent that are still skating on daddy's or granddaddy's or great granddaddy's money and investments.
There are also a lot of people working in plants making good money that are there primarily because daddy or granddaddy or uncle knew a few people and and made a few calls. I'm not sure if that would change in your hypothetical, though.
This post was edited on 6/12/20 at 12:23 pm
Posted on 6/12/20 at 12:13 pm to tetracarbon
I think if a generation or two you’d end with with a large upper class, small middle class, and large lower class.
Posted on 6/12/20 at 12:30 pm to tetracarbon
Follow poor lottery winners, two years tops.
Posted on 6/12/20 at 12:32 pm to terriblegreen
quote:
The Dave Chappell reparations skit summed it up nicely.
I wonder how long it will be before his shows are no longer available.
Page 2 of 3
Popular
Back to top
Follow TigerDroppings for LSU Football News