I don’t have to be Adam Smith or elites to know how lottery winners from low end social strata end up.
One cannot simply drop wealth on poor.
So it should be a process.
Only problem we have now is that rich are getting more rich than poor are getting wealth. Where ideally rich could get more rich as poor get out of being poor but they also should be bound by process and timelines.
I think taxing any wealth that will last longer than one lifetime will be needed. But it has to be real and not that ultra rich hide wealth in bs trust funds.
> I don’t have to be Adam Smith or elites to know how lottery winners from low end social strata end up.
Is this actually true or just an appealing stereotype? I have no idea about any studies that looked into this. A quick google brings up this slate article[1] which seems to indicate most lottery winners are doing fine.
One cannot simply drop wealth on poor.
So it should be a process.
Only problem we have now is that rich are getting more rich than poor are getting wealth. Where ideally rich could get more rich as poor get out of being poor but they also should be bound by process and timelines.
I think taxing any wealth that will last longer than one lifetime will be needed. But it has to be real and not that ultra rich hide wealth in bs trust funds.
But it will be super hard to implement.