sovereign wealth

Discussion in 'Economy' started by DOTR, Jan 8, 2019.

  1. task0778
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    task0778 Gold Member Gold Supporting Member Supporting Member

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    Got a question, about this: So why not community efforts at a ”permanent fund” like Alaska’s that will (1) provide for all to some extent and (2) give everyone a feeling if shared ownership l and desire to protect it?

    Most communities don't have the oil reserves or any other natural resources that could provide for a permanent fund. Yeah, it's nice to have, but I'm thinking that in a nation as populous as the US is, we just don't have the money to give 320 million people anything like $1600 dollars a year. And the idea of raising taxes on the rich people is ludicrous, they don't have anywhere near that kind of taxable income. Sooo, where's the money going to come from?

    Practicalities aside, I have some issues with the moral hazard too. Income should be earned IMHO, if you have the ability to do so. We should assist those who need temporary help to get back on their feet so to speak, and those who lack the capability to work ought to be subsidized. Otherwise, giving a paycheck to someone who has not earned it isn't the smartest idea.
     
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  2. DOTR
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    DOTR Gold Member

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    Yeah I know. Im not a zealot on this. Ive just always been impressed with what Alaska did. But to keep the conversation going...no I wasnt thinking of the whole nation. Horrors. The problems we have are because we have federalized everything. And Im not in favor of the cash handouts.
    I was thinking of each community up to the state level. And we all have something. Texas places all revenue from state owned land into the Texas Permanent School Fund. That includes oil leases, sales, grazing leases etc. They have 41 billion in it right now of which abut 1 billion a year is distributed equally to school districts across the state every year. Texas Permanent School Fund - Annual Report
    Montana taxes coal extraction and puts 50% into the Montana Coal trust. The interest spun off is used for infrastructure in the state.
    Paul Merriman has suggested that Bainbridge Island place every traffic ticket into a trust. In fifty years it would pay 100% of the local governments operating expenses.
    Some states have fisheries which they constantly worry about depleting. Some have timber. Some have bauxite.
    All I am saying is the wealth of society, and individuals, should not be seized for the purposes of vote buying. Moving it to a fund that protects the "general welfare" is acceptable and it takes some of the power of the ruling class away to use my money to buy voters to defeat me. Of course if the wrong people run it then the problem is magnified.


    I agree. Handouts are corrosive even to the people getting them. Its a problem. But its a problem some people can and do use to their own advantage.\And these problems have all been exacerbated by the destruction of the family...the basic unit of society.
     
  3. DOTR
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    DOTR Gold Member

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    My God that is a creepy pair. Like the Adams Family or something.
     
  4. DOTR
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    DOTR Gold Member

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    I agree

    You know, the brilliant Fahrenheit 451 was NOT about censorship. Not at all. Ray Bradbury once left a Berkeley classroom in a huff because the students insisted on telling him he had written of the dangers of censorship. The censorship was only a plot device.

    Fahrenheit 451 was about *distraction*. Before the invention of airpods Bradbury called them "shells" if I remember right. But they served the same purpose. Numbness. Everyone saved until they could cover every wall with view screens and watch silly people doing silly things.
     
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  5. DOTR
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    DOTR Gold Member

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    Taxing the rich, coming from the rich, always means one thing. Income taxes. Every consider why that is? The phrase "tax the rich" isnt even defined past that. And the rich are the ones going around singing about "tax the rich".
    Its because they dont have any any income so to speak...at least relative to their worth and lifestyle.. Nancy Pelosi is worth 120 million dollars. She doesn't live on a paycheck like you and me. When she shouts "tax the rich" she means "find anybody who works for a living and tax his sustenance". Since she and her media allies set the conversion it will never move past income.
    But if you changed that to a net worth tax, or a wealth tax, she would crawl back in her gilded hole quick along with Sergey Brin, Bill Gates, Elizabeth Warren, Hillary Clinton, Warren Buffet and all the other rich kindergarten socialists. All their grandstanding and bellyaching about "the rich" and NOT ONE TIME have they ever presented a wealth tax.
    Im not pro-wealth tax. And I know the constitution forbids it for the most most part (but our founders also forbade the present income tax..which wisdom was overruled with the 16th amendment) I am saying they lie knowing they can avoid income taxes disguised as taxes on "the rich". I cant though. I live on my income. (In fact lots of people live on my income in exchange for voting)
     
  6. anotherlife
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    anotherlife Gold Member

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    Very interesting article! The idea of universal income also demands that the government is honest plus the people police each other. Government is never honest and people are evil. A church that provides food and shelter from tithe, that is collected from businesses, would come as close to universal basic income as possible.
     
  7. DOTR
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    DOTR Gold Member

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    Yes. We ered when we turned charity over to the government...by which we always mean the Federal government. A nation could do it. A state or community or religious organization. But the Federal government is ill suited to do what people should do for each other.

    But I still like what Alaska did. Their fund is owned by the people and like i said i find it incredible that 83% voted to resist the impulse to consume.
     
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  8. anotherlife
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    anotherlife Gold Member

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    Yes a religious organization could do it, but I think a nation couldn't because it would spend it to fight its national minorities. It is amazing indeed that 83 % resisted the urge to spend it, but it is only temporary because the next generation can be programmed otherwise. This is what usually happens when the funds are not ideologically linked to a higher power.
     
  9. JBvM
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    JBvM VIP Member

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    really?

    [​IMG] creepy
     
  10. JBvM
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    JBvM VIP Member

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    somebody pissed in the gene pool long ago


    [​IMG]
     

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