alt Hacker NewsPlus a systematic way of keeping the Gini coefficient of wealth small in a sustainable way. I'm a fan of establishing sovereign wealth funds whose dividends are paid out equally per capita for this purpose.
Plus a systematic way of keeping the Gini coefficient of wealth small in a sustainable way. I'm a fan of establishing sovereign wealth funds whose dividends are paid out equally per capita for this purpose.
A sovereign wealth fund has the government deciding what to invest in, which is both a magnet for corruption and a good way to get below-market returns through mismanagement. It also requires an extremely oppressive build-up period where the government is collecting money in taxes to seed the fund instead of providing services to the population, which is why the countries that have one are basically all countries that net export huge amounts of oil, and China which exports everything else.
Meanwhile you don't need the government to use tax dollars to buy stocks in specific companies. If you want a UBI then use VAT. Then it comes from every company instead of having government bureaucrats choose which ones, and gets paid out immediately instead of needing a generation of build-up.