Re:Homelessness: The Problem That Even Silicon Valley Can’t ...
by mikeyouse on Saturday June 20, 2020 @03:56PM
(#23586702)
$364 million at 3% interest is like $11m/year. That'd pay something like $100/month to each of the homeless people in a city where studios are closer to $2000/month. Not to mention the health and psych problems many of the homeless have.
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Re:Homelessness: The Problem That Even Silicon Valley Can’t ...
by chongli on Saturday June 20, 2020 @04:52PM
(#23587201)
$364 million per year, so the endowment grows every year. After just 10 years, the endowment will have grown to $3.64 billion. Also you can do a lot better than 3% if you invest the money wisely.
You also don’t have to divide it equally among homeless people. You could start with a few and add more to the program over time, as the endowment grows. Those getting the money would be assessed based on potential to get off the streets permanently and find jobs, housing, etc.
Re:Homelessness: The Problem That Even Silicon Valley Can’t ...
by mikeyouse on Monday June 22, 2020 @12:57PM
(#23602558)
The benefits of taxation is that you don't need to build up an endowment, you can just pay it today. You could spend $364M today, and then next year, and then every year. Why introduce random financial engineering to the mix?
Re:Homelessness: The Problem That Even Silicon Valley Can’t ...
by chongli on Monday June 22, 2020 @02:13PM
(#23603605)
Why introduce random financial engineering to the mix?
Because then it pays for itself. Look at the Nobel prizes. Look at Harvard University. Look at the Norwegian pension fund. These are backed by HUGE endowments which pay for themselves with profits earned on the market. They are also extremely stable.
On the other hand, look at Social Security in the US. Any sort of benefits program paid for by taxes is exposed to political interference. That makes them inherently unstable.