If we gather all the money and divide equally

Did he make them do it or did he pay them...There’s a difference

Once you realize that only coercive force can compel a poorer man to give the fruits of his own labor to a richer man you will understand there is zero difference between "making" and "paying".
 
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Stories like this boggles the mind . . .

How stupid can someone be to basically get setup for life and then splurge or lose it all on very bad investments?
 
There might be different rich and poor people compared to before, but there would still be rich and poor people before long because not everyone will have the same ability to profit from it. I don't think that's what people in favor or reducing inequality are looking for.
 
You know what you will never see in this scenario, though? One person with hundreds of times as many rocks piled up as a neighboring rock piler. Because there are only so many hours in a day that a single human being can physically labor.

You would only see significant inequality in rock pile size if one of the workers were able to make other laborers carry a certain percentage of their rocks to his pile.

This is exactly the problem with capitalism. And what allows it to concentrate such outrageous amounts of wealth in the hands of a single individual.

You'd see a significant disparity in rock pile sizes after one year of one guy consistently collecting more rocks than the other guy.
 
yes, it would revert eventually

poor people are poor for a reason......
 
I don't understand the presupposition of many ITT that people born into wealth are all retarded and would fail. Many of these people are intelligent and they've all been provided with top notch educations. Sure, some of them are worthless lumps who would fall on their faces, but I think the majority would not.
 
Stories like this boggles the mind . . .

How stupid can someone be to basically get setup for life and then splurge or lose it all on very bad investments?

I think you're underestimating how truly dumb a lot of people are.
 
You'd see a significant disparity in rock pile sizes after one year of one guy consistently collecting more rocks than the other guy.

I think someone's head is full of rocks. Those aren't the levels of disparity anyone is concerned over.
 
In general, yes. There is a lot of skill and experience involved in having a successful business or investments. That skill and experience will translate over into identifying opportunities in their new environments.
 
Stories like this boggles the mind . . .

How stupid can someone be to basically get setup for life and then splurge or lose it all on very bad investments?

Are they truly the mega winners tho? Or did they win a "million" and realize a million ain't all as much as they thought it was?

When the mega millions got to the Billion number, wife and I had some fun and bought 10 dollars in tickets and joked what all we'd do with it. If match 5 balls and not the mega ball, the in would be a million dollars.

It was sad how not far at all winning a million dollars would go. After taxes and cash payout, it ended up being like 350k. Enough to pay off student loans and either buy a starter home or large down payment on an upper middle class house.

Win a million dollars, and make sure to get to work on time Monday cause you still need it. Spread out payments would have been like 33k a year for 29 years. Think I'd rather do the lump to kill loans and get started on a house. Without debt, wife could be a stay at home mom if she wanted. So I mean winning a million is huge, but go out and buy a big boat and jetskis and take a vacation without caring and crap like that and it'd be easy for a stupid person to blow through irresponsibly.
 
If we gather up all the money in the US and divide equally, do you think it's a matter of time until the rich now become rich again, and for the poor to lose their money and be at the same situation they're at now? Someone posted this not so long ago.

Not entirely. I would guess it would eventually achieve some sort of normal distribution around a mean IQ, where higher IQ = higher $$$

Or, as others have suggested, some sort of Pareto principle where we see an 80/20 split.
 
Give money to crack addicts?

You haven’t thought this through TS
 
After the dust settled, I think you would see something like this:
1. 80% of former wealthy become wealthy again, although maybe not to the levels that the top .1% were before. 20% would be broke.
2. 80% of the former poor would be poor again, as bad or worse than before. 20% would be able to transition successfully to middle class or better
3. The middle class would be larger than before because there were more people who were able to lift themselves out of poverty than previously
 
Why would we do that? You want the money where it can be used. People like myself who don't use much money don't need much money. Each according to his ability, according to his needs.

The idea of even-stephen is dumb-tom.
 
All else being equal this would supercharge the economy more than any other measure possible.
However, anyone with a brain would leave for fear of another redistribution.

Id say with current laws it would equalise to the current standard with about 5 generations.

Oh and the Mexican cartels would be richer than you could ever imagine.

Yeah. The ones who are rich from creating a startup company or something? They'll have it back in no time as a bunch of people who aren't used to this level of disposal income looks for exciting things to blow it on. The ones who were born into money I would expect to become con artists with pyramid and ponzi schemes to try and trick the "idiots" into joining into in their own desperation to regain their former lives and feeling of being powerful.

Also of note, the combined household wealth of Americans is 95 Trillion according to Forbes. US population is 235 million. So it's just shy of 300k per household.

300k isn't nearly enough to live on forever, but you can bet your ass way, way too many people would just quit their jobs

Wiki has it as $402k per adult.
Median wealth is $62k.
 
After the dust settled, I think you would see something like this:
1. 80% of former wealthy become wealthy again, although maybe not to the levels that the top .1% were before. 20% would be broke.
2. 80% of the former poor would be poor again, as bad or worse than before. 20% would be able to transition successfully to middle class or better
3. The middle class would be larger than before because there were more people who were able to lift themselves out of poverty than previously

If all wealth were divided equally, that would mean ~$330K to every man, woman, and child in the country, and one would assume that means that all assets would have to be repurchased at an auction, which would give a huge advantage to big families, and that initial advantage would snowball the way initial advantages currently do. Theoretically annual income would also provide a big advantage, but people's incomes would be changed drastically as a result of the wealth reshuffling. My guess is that there would be very little correlation between pre-shuffle wealth and post-shuffle wealth. If we're just talking about cash shuffling, there probably wouldn't be that much of a change.

The general idea that wealth is mostly a result of wealth-acquisition skills seems way off, too. Remember that most Americans' net worth is mostly tied up in their houses. We're not generally talking about real-estate investors. People buy a house in the neighborhood where they want to live (near where they grew up or went to college or got a job), and they gradually pay it off, and in some cases, the values soar. Most millionaires fit that category. There's no reason to think they'd get the same results in a reshuffle situation. Incomes also are heavily dependent on luck (for example, people who enter the job market during a recession have permanently depressed incomes, while people who enter during a boom benefit for life on average), but there are skills that would be highly rewarded, and people who have them would always be financially successful (and I think that kind of urban professional types would gain a lot relative to the extremely rich or to people who inherited or work at high levels of family businesses).
 
If all wealth were divided equally, that would mean ~$330K to every man, woman, and child in the country, and one would assume that means that all assets would have to be repurchased at an auction, which would give a huge advantage to big families, and that initial advantage would snowball the way initial advantages currently do. Theoretically annual income would also provide a big advantage, but people's incomes would be changed drastically as a result of the wealth reshuffling. My guess is that there would be very little correlation between pre-shuffle wealth and post-shuffle wealth. If we're just talking about cash shuffling, there probably wouldn't be that much of a change.

The general idea that wealth is mostly a result of wealth-acquisition skills seems way off, too. Remember that most Americans' net worth is mostly tied up in their houses. We're not generally talking about real-estate investors. People buy a house in the neighborhood where they want to live (near where they grew up or went to college or got a job), and they gradually pay it off, and in some cases, the values soar. Most millionaires fit that category. There's no reason to think they'd get the same results in a reshuffle situation. Incomes also are heavily dependent on luck (for example, people who enter the job market during a recession have permanently depressed incomes, while people who enter during a boom benefit for life on average), but there are skills that would be highly rewarded, and people who have them would always be financially successful (and I think that kind of urban professional types would gain a lot relative to the extremely rich or to people who inherited or work at high levels of family businesses).
Good points. I didn't think about families pooling their resources together. You see this on a micro level with large Asian families in some communities where the extended family acts as a collectivist unit focused to raise children and build wealth. I also think people undervalue how much luck plays a factor in wealth generation. Maybe luck is just when preparation meets opportunity, but it's obvious that some people are born into positions that will allow them to be better prepared and have greater visibility on different opportunities.
 
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