Posts Tagged ‘taxation’

WAP! (for Greg)

May 12th, 2011

One thing we learn from the success of  microlenders such as Grameen Bank is that it may not be a mere tautology to say that a root cause of poverty is lack of money.  Matthew Yglesias has had some fun with this idea.  But take it one step further.  In a society like ours, where 1% of the population owns something like 33% of the assets (look it up yourself), it might even make sense to say that a root cause of poverty is rich people.  After all, there is only a finite amount of wealth.  If most of the sand is piled at one end of the beach, then the people at the other end will have muddy feet.

I would like to attack poverty at its cause by enlisting rich people in ending it. (I am going to assume that if you are reading this you already think that gross income inequality is a Bad Thing and you don’t need to be convinced of the immorality and exorbitant social cost of it.)  To this end, I would like to propose what I call the Wealth

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