What would happen?

[GenSeneca]

Everyone has thier own opinion about the redistribution of wealth but I wanted to put together some actual numbers and offer a hypothetical scenario to see what everyone would come up with.

First, we need to start with what our government owes in debt. Our national debt at the time of this post is just under 14 trillion dollars.

Second, we need to figure out how much wealth we have to redistribute. The best information I can find suggests there is about 55 trillion in total wealth.

Third, we subtract the debt from our wealth, that leaves us with 41 trillion.

Fourth, we look at the total population of the US which is currently listed as being about 310 million.

Math time...

41 trillion divided by 310 million is roughly $132,250 for every man, woman and child in the country. That doesn't factor in an administrative cut for the government to enact such a program but we'll overlook that and pretend that all the wealth would just magically redistribute itself among the population.

So there it is... Every single person in America now has $132,250.

What would happen?

 

[Pandora]

Well within a year we would have poor and rich again. People who have money are good at managing money people who do not have money suck at managing it.

Within a generation or two it would look probably exactly like it does today.

I would bet that less than ten percent of people would use the money to make money and be better off.

Though I bet most everyone "thinks" they would be better off.

Then you have to add this.

How many people would just stop working at low level jobs because they had money (for a while)

How much would a head of lettuce cost since fewer people would want to bother picking it or growing it?

I wish everyone had to play a game called Ultima Online. There is an economy system that sometimes gets screwed up. Sometimes by scammers sometimes by game masters.

Some items were worth millions and people were willing to pay millions in game dollars for rares. The Game Masters in all their wisdom thought everyone should have a shot at the rares so they made them easy to get. Can't give them away now because there are so many. They were worth something to someone when they were rare but now that they are common no one wants or cares about them.

When gold was hard to earn it sold online for 25 dollars per million game coins, the game masters decided to make gold easier to earn, now you can buy gold online for $2.50 per million. Great huh? wow easy to buy gold, problem is, things that used to be a million dollars are now 20 million dollars so it actually cost more

so take all the money, divide it by the people and watch the nightmare begin

 

[GenSeneca]

Well within a year we would have poor and rich again.

I'm kind of surprised there aren't more people chiming in on this topic. Such a total redistribution of wealth would cause massive changes in everything, our personal lives, society as a whole, politics on both sides, international relations, etc. there are just so many implications that I thought it would be a good topic of discussion... Perhaps I was incorrect.

 

[steveox]

Id be Rich! I can drive this

Live in this

And id buy the Orioles!

 

[pocketfullofshells]

Id be Rich! I can drive this

Live in this

And id buy the Orioles!

so in other words your poor...132,000 and you spent that all on a car...and no you can't buy the orioles with that, even without Cal Ripken.

 

[pocketfullofshells]

well first caos would happen...all that money and all those crappy things around...values would be all out of wack..who is going to live in the old run down homes in the cities? when now all those big huge mcmansons are there to take ( old owers can't afford them now...poor babies...)

Im sure the rich would cry alot...some would take up arms...mobs of poor would kill them , few of them would be missed...some would.....

Econ for luxury goods just tanked....modest cars and electronic sales would spike and have inflation at large rates....

republicans would take there money ....and they yell about it....( even though most just profited) and cry Stalinism ( even though stalin never made things equal) and grab there guns and start a war....

 

[dahermit]

...So there it is... Every single person in America now has $132,250.

What would happen?

The dollar would be worthless. It is the differentiation in wealth that makes money valuable. If you had $132,250, would you cut someone's lawn for $5.00? Of course not; neither would anyone else.

 

[pocketfullofshells]

The dollar would be worthless. It is the differentiation in wealth that makes money valuable. If you had $132,250, would you cut someone's lawn for $5.00? Of course not; neither would anyone else.

but a new home could be alot less, since no one can buy the spendy ones now...

 

[BigRob]

The dollar would be worthless. It is the differentiation in wealth that makes money valuable. If you had $132,250, would you cut someone's lawn for $5.00? Of course not; neither would anyone else.

I would. I would then have $132,255 and you would have $132,245. After I cut enough lawns, people would probably decide that I have too much money and I needed to "pay my fair share" back.

Nevermind that I went out and earned the money, while you (as an example) foolishly believed you could survive a lifetime on $132,000.

 

[PLC1]

Since no one would have control of enough wealth to control any industry, the whole economy would quickly fall apart, and the total wealth of the nation would approach zero.

Obama's famous comment about redistribution of wealth was ab out the graduated income tax. Every president since the income tax was initiated has been for the redistribution of wealth.

That doesn't mean that everyone would have the same. That is patently absurd and unworkable.

 

[steveox]

Wanna get Rich? USE THE COURTS!

 

[Little-Acorn]

Such a total redistribution of wealth would cause massive changes in everything, our personal lives, society as a whole,

Correct. Which is why I figured you were inventing a joke thread.

You mean you were SERIOUS???