Inequality, Interest Rates, Aging, and the Role of Central Banks

Re:Inequality, Interest Rates, Aging, and the Role of Centra... by giantg2 on Wednesday September 01, 2021 @10:57AM (#28380614)

Again, this whole 'tax the rich' bent you are on is off-topic. In fact, it seems you are not understanding utility in this context of marginal utility.

"It could be subject to the same utility if we taxed it, that's what I was getting at."

"Wealthy people aren't using money that society could put to great use."

Then you could say that the average person's 401k isn't being used either. But investments are a use of money that do contribute to society in providing capital to businesses and individuals. Gains on those investments are also taxable.

There are plenty of things we could do, but that's not really what we are discussing here.

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Re:Inequality, Interest Rates, Aging, and the Role of Centra... by minikites on Wednesday September 01, 2021 @12:24PM (#28381906)

>Then you could say that the average person's 401k isn't being used either.

But the average person has much more marginal utility for their amount of wealth. Going by the average 401k balances here (https://www.investopedia.com/articles/personal-finance/01061...), the marginal utility of dollars $38,401, $160,001, etc is much greater than even millions of dollars at Bezos and Gates level wealth. What else am I missing about utility in this context?

>Gains on those investments are also taxable.

At a much lower rate than income, further cementing the advantages of the ultra-wealthy.

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