Strange Times
- Thread starter BigWillieCock
- Start date
It's a pretty simple question piggy-backing off of your statement that 1-parent income doesn't suffice.
Statistically, it does not. Income statistics for single parent households are pretty grim. 80% of these households are single moms. Their average income is well below average overall and 29% experience long-term unemployment. The burdens some of these women carry and the stress they endure would break most of us.
https://singlemotherguide.com/single-mother-statistics/
I assume you mean the ones who stay and not the ones who leave.
They are increasing because we live in a high stress society and people increasingly cannot deal with each other.
The stats of 1-parent income homes is pretty grim on average. They make less than half of a married couple household. The poverty rate for single-mother families in 2019 was 31%, nearly five times more than the rate (5%) for married-couple families.
Not to mention, everything is in a bubble unlike anything we've ever seen before. This includes debt which most single parent households lean on greatly.
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This is the main issue and was the basis of the inheritance discussion yesterday.
Even if you want to make sure your kid doesn't have to lift a finger in life and live in the lap of luxury, what is that figure? 20 million?
If we capped inheritance at 20mil, and the excess flowed in a trustless, transparent system on the blockchain ledger to be redistributed responsibly - that would go a very long way in fixing a lot of issues in this country.
That's not Socialism or Sanders. That's a system to potentially promote equity in some responsible framework.
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You'd think that the stats on the single parent households would discourage folks from choosing that route...but nope, the number of single parent families have been increasing from one decade to the next.
I believe single parenthood is increasing because it's being incentivized. I.e. single mom has more kids, she gets more money. Do you think that money is getting spent wisely all the time? And you want to put a cap on inheritance to "fix issues"? Excuse me? You don't get to arbitrarily come up with a dollar amount and tell people what to do with the rest.
Enjoy all the money you want in a lifetime. Cap inheritance so you don't have these Marxist warloads at the top of the food chain dictating policy. And as mentioned yesterday, handling down wealth generation to generation creates a lot of dysfunction. We need purpose in life. Now we have billionaires paying 100k to practice poverty for a week to get their head screwed back on.
The problem with your plan is that a 'trustless, transparent system on the blockchain ledger to be redistributed responsibility' is pie in the sky, wishful thinking. That's not even close to being feasible...
If you ever figure out the solution there, issue 1B is private property. Economic systems that take property from people 'for the good of society' have been tried over and over and over again. They haven't worked...not a once.
The trustless system is within months now. Middlemen and central bankers are scrambling as CEFI will start to transition to DEFI.
Why wouldn't it work if you had a completely transparent system that history has not witnessed?
Oooooh, well the ones I'm referring to earned their money in a single lifetime. Do you realize that wealth rarely transcends more than 2 generations?
Yep. But that's a misleading figure as 1% hold 15x the wealth of the bottom 50%. That one percent has been passing down for some time. New players like the Bezos clan will likely pass down wealth forever.
No. That's not true at all. The 1% now was not the 1% last generation, and it will likely not be the same 1% next generation. Economic mobility is extremely high.
I guess we have to better define parameters within that 1%.
I'm referring to dynastic wealth (aka trust fund babies)
https://www.businessinsider.com/trust-fund-dynastic-wealth-income-inequality-2019-3
A good number of people on this site are probably in the 1% - which is defined at 4.4mil.
https://www.businessinsider.com/net-worth-to-be-in-1-percent-top-richest-wealth-2021-2#:~:text=An individual in the US,to break into the 1%.
I should have clarified that talking about ultra high net worth (excess of $30-50mil)
https://en.wikipedia.org/wiki/Ultra_high-net-worth_individual
Our problem is not dynasties. Our problem is not the "trust fund babies". Our problem is Zuckerberg, Soros, Dorsey, and power hungry politicians.
OK, the trustless, transparent system with no administrator is coming any day now.
You really believe this? That's a serious question.
I believe it's both. But wouldn't you like the Zuckerberg, Soros, Dorsey, etc. mindset limited to one lifetime?
I'm confused...you imply that you are against Marxism, and yet you espouse a key Marxist policy - class warfare.
Who says their kids would be anything like their parents? That's not our decision to make.
Yes. It's actually already here - it's called Ethereum and it still needs to scale (transaction wise.) You're going to see virtually every industry using it. Ethereum was $89 per 14 months ago. Now it's over $3k. Soon it will be over $50k. Congress spend today sorting through ways of how to tax this new tech.
Sorry - Talking about tracing movement of funds. They have optional layer 2 privacy which the government is concerned about.
I'm talking about ultra excessive wealth that creates dysfunction for the country and the children involved.
Inheritance cap on excessive wealth - wherever that figure lands. Enjoy as much money as you can in a lifetime and pass a reasonable amount down to your kids.
Where do you get that? I obviously don’t read the same things you do.
I see it everyday. 25-40 yr. olds holed up in their parent's mansion looking for a purpose in life. Usually have had stints with major drug usage, hate their parents and are on SSRIs or Benzos to cope.
You're 100% correct. The issue though is execution and compliance. Maybe Blockchain will be able to sort this out in the future. Interesting idea for a Dapp.
LOL.
It still needs to...
You're going to see...
Soon it will be...
I remember chuckling the first time that I read the story of Don Quixote.
