- Joined
- Feb 16, 2021
In practice it would be the same effect: If you gave everyone a million dollars, regardless of the source (although presumably at some stage the government would have to print more currency to meet demand) you wouldn't create a nation of new rich people, you'd just set the new benchmark for poverty as prices rose accordingly.I mean theres a difference between the government printing a million dollars and a citizen giving a million dollars. Lets not get so blinded to that one man has enough money to give every American a not insubstantial amount of money.
But, Jim is ignoring that Musk isn't giving Jack a sack of money. This man isn't even at inflation, he still has to learn liquid assets
But let's take Jim at his word, according to the first figure I could Google, there are roughly 30 million Americans living in poverty (the rest of the world can fuck itself, for the purposes of this point). Even if Elon's 45 billion was actual cold hard cash, if you divvied up among all the people who need it in society they'd get about $1,500 each.
I doubt that would be enough to solve the problems of most poor Americans for a month, nevermind ending poverty entirely; not least of all because, as others have pointed out, fools and their money are soon parted and most poor people are poor for a reason.