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Originally Posted by ToothSayer
That doesn't mean anything. "Spare money to waste on stuff" is <0 in the US. You're $20 trillion in debt for starters.
Yeah that just isn't true. Most wealth is tied up in productive capital. You can't just untie it. You can plunder it and destroy your economy but you can't just grab it. Norway doesn't have this problem. They have a vast stream of free money and a vast pile of saved money from previous free money. Economic activity wasn't needed to get Norway rich. They had a golden goose - and the gold was paid for by actual functioning producing economies like the US.
Because the government is better at allocating scarce capital toward human wants efficiently than the free market? I don't believe you.
And I'm not convinced education will have benefits. It's already a massively overpriced socially worthless parasite beyond a certain number of university places/year, which we are way beyond already.
Education is already a wasteful expensive disaster in the US. The Marxist academics railing against capitalism are in fact getting rich off exploiting the poor as education prices soar - and they use the government to keep the poor poor, since student debts can't be discharged in bankruptcy. They're the classic corporate villain.
Possibly. Health care is currently rationed by high prices in the US so I'm not sure how it would go if you sudden unrationed it. You don't have the self reliant socially responsible kind of population in the US that you have in Norway for example.
Notice how the argument shifts though. First it was that the US isn't rich enough, which implies capacity. I would agree that if a country doesn't have the capacity to spend on universal healthcare they shouldn't do it, but the US does. And you agreed with me.
But you try and shift to something about wealth being tied up into productive capital, but that's not meaningfully different than Norway's sovereign wealth fund. The SWF isn't a vault of money like Scrooge McDuck, it's an investment fund, one of the biggest in the world. And investment funds have their money tied up in.... productive capital.
You can see here for yourself how they invest; in real estate, equities, and fixed incomes
https://www.nbim.no/en/the-fund/how-we-invest/
So now we can see that Norway's SFW isn't any different than 'money being tied up in productive capital' in the US, what's the implied constraint here? It's not capacity, it's not money tied up in capital, it's the levels of taxation. The US can't fund universal health care, tuition free universities, etc at the current levels of taxation. Norway can at its levels of taxation.
So if we want to do those things, we simply need to raise our levels of taxation.