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Re:Economic Inequality by karzeem on Saturday January 02, 2016 @02:30PM (#10827502)
Empirically, how well do you feel the US government spends its budget currently?

There's often an assumption in these discussions that if a billionaire isn't spending their money in a socially optimal way, the government will spend it better. But if you look at how governments actually spend their money, you'll find very little evidence to support that assumption.

Re:Economic Inequality by RobertoG on Saturday January 02, 2016 @02:47PM (#10827578)
We know at least an instance of how billionaires spend their money.

Just 158 families dominate U.S. presidential campaign contributions: http://nymag.com/daily/intelligencer/2015/10/158-families-do...

Inequality is not only about money, it's also about influence.

Re:Economic Inequality by wstrange on Saturday January 02, 2016 @06:28PM (#10828560)
Capitalism does a fine job at some things, but there are areas where governments deliver better outcomes.

Single payer health care is a good example.

We should strive to avoid dogma and choose the best available solution.

Re:Economic Inequality by s0uthPaw88 on Saturday January 02, 2016 @04:24PM (#10828023)
Government run social welfare programs are actually pretty efficient since they have huge economies of scale [1].

[1]http://www.cbpp.org/research/romneys-charge-that-most-federa...

Re:Economic Inequality by karzeem on Saturday January 02, 2016 @05:11PM (#10828241)
I'd actually worry more about how efficiently the money is being used after it's been disbursed, not about how much government administrative costs eat up.

E.g. that chart says that ~96% of Medicare spending went to beneficiaries. That sounds good, but all it means is that 96% of the dollars were paid to hospitals/doctors/medical device manufacturers/etc. It says nothing about how efficiently those people are providing their services, i.e. how efficiently those 96% of Medicare dollars are being spent. A lot of those dollars get quickly chewed up by high prices (which I'd argue are themselves caused by the market distortions that these programs foster).

Re:Economic Inequality by riffraff on Saturday January 02, 2016 @03:58PM (#10827911)
FWIW: the government doesn't have to spend more if taxes on wealthy people get higher, you can just have lower taxes on the less wealthy (or increase the no-tax area at the bottom).

Government expenditures stay the same but rich people pay more and poor people pay less.