LogFAQs > #967166965

COVxy posted...

There's a lot of studies on this. You might want to do a google scholar search.

You're the one claiming this is not only viable compared to targeted anti-poverty and socialist methods but "the only convincing way i've seen suggested to improve equity over time.".

The only means by which I could see this actually being viable is if the taxation component of the lottery system is so comprehensive and excessive that it is strictly a hard wealth-redistribution method "by any other name". Otherwise, your method randomly distribute funds in several obviously counter-intuitive ways, the first of which is back to the top 50% of wealth owners. The second most obvious issue is you're giving raw wealth to people without going through the effort to educate them on the tools and skills needed to keep, maintain, or grow wealth to begin with. The end result, as we see literally all the time with current lottery systems, is that the winners of these lotteries tend to burn through their earnings at a tremendous deficit compared to people who's wealth is derived through the exploitation of labor, resources, or property. You've accomplished nothing for the retention of wealth within the 50th percentile of individual wealth.

Furthermore, you've suggested nothing that restricts the accumulation of wealth within the top percentiles other than maybe vaguely tax them I guess? I really don't know because you haven't actually suggested anything approaching comprehensive or thoughtful, you just made this topic to be contrarian about socialism by using an "out-there/maverick" approach because you think it makes you look smart. Just like Elon Musk does constantly. And it's just as transparent on you as it is on him.