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Would dynamic pricing ever be possible

  • 24-02-2021 4:08pm
    #1
    completedit
    Registered Users Posts: 2,639 ✭✭✭


    With growing inequality and ever decreasing costs of consumer goods one possible solutions I thought of was a dynamic pricing system whereby goods cost a certain amount commensurate to your income. So essentially a tiered wealth tax. Maybe it could work over a basket of goods as opposed to individual items; Would such a system be viable and if so, welfare improving? It just seems consumer goods are far too cheap and it seems odd that somebody who earns multiples of someone on minimum wage should pay the same price for their shopping and even discretionary goods.

    It's not very well thought out but just a thought that came to my head. Would it even be efficient or overcome any problems that cannot be alleviated through more conventional tax system?


Comments

  • #2
    Wanderer78
    Registered Users Posts: 28,797 ✭✭✭✭Wanderer78


    Seems very overly complicated, but who knows, many wealthy don't spend much of their accumulated wealth, they generally store it in assets, so I can't see it truly working at all. we need to figure out how to reduce asset accumulation, we 're currently doing the opposite


  • #3
    Vestiapx
    Registered Users Posts: 985 ✭✭✭Vestiapx


    Wanderer78 wrote: »
    Seems very overly complicated, but who knows, many wealthy don't spend much of their accumulated wealth, they generally store it in assets, so I can't see it truly working at all. we need to figure out how to reduce asset accumulation, we 're currently doing the opposite

    Why do we need to reduce asset accumulation?


  • #4
    Wanderer78
    Registered Users Posts: 28,797 ✭✭✭✭Wanderer78


    Vestiapx wrote:
    Why do we need to reduce asset accumulation?

    I guess I should have said reduce the accumulation of ownership of assets, or broaden the ownership of assets, as the majority of wealth, globally, is stored in assets, which is highly concentrated.

    I personally think most employees in large floated companies, particularly amongst lower percentile income earners, should be given an extra small bonus of stocks in those companies, no strings attached, I.e. no productivity gains etc. The income ratios in most large companies is about 200-300:1, in extreme cases this is as much as 1000:1, this is dangerous.

    I also think all large corporations should pay a small percentage of their taxes in stocks and shares, investment funds such as sovereign wealth funds could be used to redistribute this wealth from there.

    We should also be taxing businesses that gather data on us for their own purposes, many doing so freely, and are making astonishing profits from.

    Tax systems such as land value taxes(lvt) should be introduced, to reduce land speculation, and wealth extraction from these none productive activities

    There's loads of potentially good ideas out there to reduce inequality, many have been known for a very long time, such as a lvt, we just keep defaulting to the norm, you d have to wonder, do we really want our race to survive!


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