Re:The Libertarian Case for a Basic Income
by gnaritas on Monday December 09, 2013 @12:06PM
(#6875207)
> but there is no evidence for the idea that poor people are less likely to hoard wealth than the rich
You can't seriously believe that? This is the most out of touch "let them eat cake" statement I've seen in a while. Poor people don't have any wealth to hoard; that's what poor means.
> Rich individuals allocate their wealth to longer-term investments
Because they have excess that can be invested after meeting their basic necessities.
> whereas poorer people spend their money on consumption goods
Yea, because they're poor and basic necessities eat up all of their money.
You can't seriously believe that? This is the most out of touch "let them eat cake" statement I've seen in a while. Poor people don't have any wealth to hoard; that's what poor means.
> Rich individuals allocate their wealth to longer-term investments
Because they have excess that can be invested after meeting their basic necessities.
> whereas poorer people spend their money on consumption goods
Yea, because they're poor and basic necessities eat up all of their money.