IMF paper suggests redistribution of wealth doesn't hurt economies

[logik23]

This is interesting.....

inb4thesuperichareawesomeandfucktheworkingpoor

IMF paper suggests redistribution of wealth doesn't hurt economies

OTTAWA - A new paper by researchers at the International Monetary Fund appears to debunk a tenet of conservative economic ideology — that taxing the rich to give to the poor is bad for the economy.

[...]

Labelled as the first study to incorporate recently compiled figures comparing pre- and post-tax data from a large number of countries, the authors say there is convincing evidence that lower inequality is good economics, boosting growth and leading to longer-lasting periods of expansion.

In the most controversial finding, the study concludes that redistributing wealth, largely through taxation, does not significantly impact growth unless the intervention is extreme.

In fact, because redistributing wealth through taxation has the positive impact of reducing inequality, the overall affect on the economy is to boost growth, the researchers conclude.

[...]

The data they looked at showed almost no negative impact from redistribution policies and that economies where incomes are more equally distributed tend to grow faster and have growth cycles that last longer.

http://www.calgaryherald.com/busine...ation+drag+economic+growth/9552925/story.html

 

[manifeste00]

When I first read the thread tittle I was like "Wow, Logik is going to be superstoke on this thread!".

And then I saw who started the thread.

 

[250Rocket]

inb4 this thread devolves into a rich vs poor debate, that's utterly stupid and missing the real problem.

Hate the game. How is it that we can allow an organization to create money out of thin air and then charge a fee or interest for doing so?

Hypothetically if the Fed or a bank issues the first $1000 of a currency in 1-year loans, at the end of the year they expect 5% interest. Where do those extra $50 come from? The bank then has to loan out at least an extra $50 so people can pay. Enter the endless loop of owing the banks.

It is a game where the winners are rich, the losers are poor, the masses are somewhere in between, and nobody seems to want to fix the fucking problem at the source. We blame the 1%, we blame the BS'er, we find any kind of scapegoat instead of destroying the institutions that have been, over the decades, given the power to enslave.

We should be moving to a system where a highly regulated and publicly over-sighted government body could create money for themselves and then pay it back with taxes interest free. For example the government needs 100 million to build a new Champlain bridge. They create $100 mil interest free, pay the workers and suppliers favoring local business first. Their priority should then be to pay it off as soon as possible but the key here is that the population is no longer paying interest. Even at 1% that a million dollars freed up to pay teachers, doctors, ....

Canada is $588 billion in debt. How much do you think of that is compounded interest we owe? A few more generation of this shit and the norm will be 2 jobs per person and working until we're 80.

 

[AlexEvoX]

This is interesting.....

inb4thesuperichareawesomeandfucktheworkingpoor



http://www.calgaryherald.com/busine...ation+drag+economic+growth/9552925/story.html

Wow !! Qu'est-ce qui se passe avec toi Logik ? Je déteint sur toi !?

Tu m'avais insulté pendant 1 semaine y'a 2 ans parce que je disait déjà la même chose que ton article !

Tu sais quoi, y'a aussi une autre étude qui dit que l'immigration totalement libre serait aussi bénéfique pour nos sociétés !

 

[AlexEvoX]

inb4 this thread devolves into a rich vs poor debate, that's utterly stupid and missing the real problem.

Hate the game. How is it that we can allow an organization to create money out of thin air and then charge a fee or interest for doing so?

Hypothetically if the Fed or a bank issues the first $1000 of a currency in 1-year loans, at the end of the year they expect 5% interest. Where do those extra $50 come from? The bank then has to loan out at least an extra $50 so people can pay. Enter the endless loop of owing the banks.

It is a game where the winners are rich, the losers are poor, the masses are somewhere in between, and nobody seems to want to fix the fucking problem at the source. We blame the 1%, we blame the BS'er, we find any kind of scapegoat instead of destroying the institutions that have been, over the decades, given the power to enslave.

We should be moving to a system where a highly regulated and publicly over-sighted government body could create money for themselves and then pay it back with taxes interest free. For example the government needs 100 million to build a new Champlain bridge. They create $100 mil interest free, pay the workers and suppliers favoring local business first. Their priority should then be to pay it off as soon as possible but the key here is that the population is no longer paying interest. Even at 1% that a million dollars freed up to pay teachers, doctors, ....

Canada is $588 billion in debt. How much do you think of that is compounded interest we owe? A few more generation of this shit and the norm will be 2 jobs per person and working until we're 80.

It's the modern money mechanics for you my friend ! But I share your view on the subject. It's time the bring down the system and create a new one.

 

[logik23]

Wow !! Qu'est-ce qui se passe avec toi Logik ? Je déteint sur toi !?

Tu m'avais insulté pendant 1 semaine y'a 2 ans parce que je disait déjà la même chose que ton article !

Tu sais quoi, y'a aussi une autre étude qui dit que l'immigration totalement libre serait aussi bénéfique pour nos sociétés !

You were around 2 years ago?

 

[MohammedRex]

You were around 2 years ago?

concentre toi et tu va etre capable de decripter par telepathie ce que je pense de ton thread

 

[allroad]

The IMF is like the U.N., lavish dinners and a total waste of resources which never amounts to any resolutions.

I like the use of words "seems", "suggest", etc...no clear message and the summary of the study is that more studies are needed.

Instead, they urge more rigorous study and say their findings "highlight the urgency of this agenda."

The Washington-based International Monetary Fund released the study Wednesday morning but calls it a "staff discussion note" that does not necessarily represent the IMF views or policy. It was authorized for distribution by Olivier Blanchard, the IMF's chief economist.

While I agree that something needs to be done and the government can impose this is unknown...

 

[chris35]

inb4 this thread devolves into a rich vs poor debate, that's utterly stupid and missing the real problem.

Hate the game. How is it that we can allow an organization to create money out of thin air and then charge a fee or interest for doing so?

Hypothetically if the Fed or a bank issues the first $1000 of a currency in 1-year loans, at the end of the year they expect 5% interest. Where do those extra $50 come from? The bank then has to loan out at least an extra $50 so people can pay. Enter the endless loop of owing the banks.

It is a game where the winners are rich, the losers are poor, the masses are somewhere in between, and nobody seems to want to fix the fucking problem at the source. We blame the 1%, we blame the BS'er, we find any kind of scapegoat instead of destroying the institutions that have been, over the decades, given the power to enslave.

We should be moving to a system where a highly regulated and publicly over-sighted government body could create money for themselves and then pay it back with taxes interest free. For example the government needs 100 million to build a new Champlain bridge. They create $100 mil interest free, pay the workers and suppliers favoring local business first. Their priority should then be to pay it off as soon as possible but the key here is that the population is no longer paying interest. Even at 1% that a million dollars freed up to pay teachers, doctors, ....

Canada is $588 billion in debt. How much do you think of that is compounded interest we owe? A few more generation of this shit and the norm will be 2 jobs per person and working until we're 80.

Ça se fait. Ça s'appele imprimer de l'argent. Le problème est que ça cause une dévaluation de la monnaie et de l'inflation. À petite échelle, c'est ok et ça arrive souvent. A grande échelle, c'est un désastre économique.