Hugo Hacker News

China calls for curbs on excess income and for the rich to give more to society

imtringued 2021-08-19 08:57:33 +0000 UTC [ - ]

What is "excessive income"?

I earn it, I spend all of it. Where is the problem? Right, it's when I don't do that that problems manifest themselves.

If I earn more than I spend for all eternity, then it means there is less money left in the rest of the economy. The rest of the economy suddenly suffers from scarcity/lack of currency. It's almost as if the economy is a jar where water evaporates through the poorly sealed lid. Then the government comes and opens the lid and tops up the jar with some water.

This isn't just happening at a personal scale. It's also happening on a nation and world scale.

Germany runs a surplus and keeps exporting to Greece. There is now a shortage of money in Greece. You need to top the Greek jar up again.

The US reserve currency causes USD to evaporate out of the US into the world economy. The US government is forced to run a deficit. Really the only question is what you spend the deficit on.

2021-08-19 01:24:37 +0000 UTC [ - ]

joemazerino 2021-08-19 01:48:13 +0000 UTC [ - ]

Is this a neutral article or am I missing some objectivity?

alecco 2021-08-19 07:07:13 +0000 UTC [ - ]

...for CCP members?