Bill Ackman: give every American cash at birth so they can retire a millionaire

Re:Bill Ackman: give every American cash at birth so they ca... by lisper on Wednesday December 09, 2020 @07:58PM (#25368032)

Not to put too fine a point on it, but the current system depends on keeping a cadre of people on the financial hairy edge so that they can be coerced into doing the actual work. If everyone were a millionaire, the result would not be a bunch of happy, financially independent people, it would be rampant inflation while the newly expanded money supply went chasing after what remained of a rapidly shrinking pool of accumulated goods, and then, when those were gone, we'd end up right back where we started, just with a few extra zeros on all the price tags.

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Re:Bill Ackman: give every American cash at birth so they ca... by pmoriarty on Wednesday December 09, 2020 @08:11PM (#25368177)

"Not to put too fine a point on it, but the current system depends on keeping a cadre of people on the financial hairy edge so that they can be coerced into doing the actual work."

Not just to do the work, but also to do the dying.

Enlisting in the military is often a resort of financially destitute people who don't see many other options.

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Re:Bill Ackman: give every American cash at birth so they ca... by brewdad on Wednesday December 09, 2020 @08:43PM (#25368483)

It's not something most people want to admit given the US worship of our veterans but the military in the past 40 years has largely been a successful jobs program.

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Re:Bill Ackman: give every American cash at birth so they ca... by pmoriarty on Wednesday December 09, 2020 @08:54PM (#25368571)

"the military in the past 40 years has largely been a successful jobs program"

Well, among other things, like participating in mass murder.

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Re:Bill Ackman: give every American cash at birth so they ca... by bassman9000 on Wednesday December 09, 2020 @09:07PM (#25368695)

It's not something most people want to admit

I think it's pretty well known and understood. Not only a successful jobs program: a training/education one too, and the prime social ladder.

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Re:Bill Ackman: give every American cash at birth so they ca... by sparrc on Wednesday December 09, 2020 @08:07PM (#25368130)

The proposal isn't to make everyone a millionaire, it's to give everyone an index investment at birth that they can't touch until they retire, at which point it would presumably be worth around a million dollars.

btw I'm not saying this is a good idea, I just wanted to make the point that there is plenty of money to pay for something like this.

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Re:Bill Ackman: give every American cash at birth so they ca... by throwaway2245 on Wednesday December 09, 2020 @08:35PM (#25368412)

> depends on keeping a cadre of people on the financial hairy edge so that they can be coerced into doing the actual work.

Which is maybe why Bill Ackman's proposal here doesn't really make money accessible to working-age people, when they most need it to set up a less hairy lifestyle.

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