https://futurism.com/research-shows-...-not-tax-cuts/
I was browsing the net and came across this article. I could not believe what I was reading. While I agree that there seems to be a huge gap between the haves and have nots, I don't believe that the Robin Hood approach will solve the problem for the same reason that approximately 70% of lottery winners go broke.
In many cases, people wind up "poor" because of bad choices and an inability to manage money in the first place. Dumping a heap of cash on them gives them some relief and maybe even some luxuries but in the end, the majority of them will be broke again, with some even worse off than before they received the windfall.
I believe that financial literacy taught in compulsory school courses would be beneficial. However, in countries like the US, where "keeping up with the Joneses" and product advertising influences purchasing, would result in pretty much the same outcome.
I think some tax cuts or tax credits would bring some relief to the bottom 50% of income earners without completely robbing the upper 50% who pay the vast majority of taxes.
Is this pandora's box?
I was browsing the net and came across this article. I could not believe what I was reading. While I agree that there seems to be a huge gap between the haves and have nots, I don't believe that the Robin Hood approach will solve the problem for the same reason that approximately 70% of lottery winners go broke.
In many cases, people wind up "poor" because of bad choices and an inability to manage money in the first place. Dumping a heap of cash on them gives them some relief and maybe even some luxuries but in the end, the majority of them will be broke again, with some even worse off than before they received the windfall.
I believe that financial literacy taught in compulsory school courses would be beneficial. However, in countries like the US, where "keeping up with the Joneses" and product advertising influences purchasing, would result in pretty much the same outcome.
I think some tax cuts or tax credits would bring some relief to the bottom 50% of income earners without completely robbing the upper 50% who pay the vast majority of taxes.
Is this pandora's box?
via International Skeptics Forum https://ift.tt/2JRm3rN
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