What should be the minimum guaranteed personal income ($/yr) and maximum allowable personal wealth ($) in SeD?

Question

Socioeconomic Democracy (SeD) is a theoretical model socioeconomic system wherein there exist both some form of Universally Guaranteed Personal Income and some form of Maximum Allowable Personal Wealth limit, with both the lower bound on personal material poverty and the upper bound on personal material wealth set and adjusted democratically by all participants of society.

The median value of the personal preference distribution of either parameter is the democratically and societally desired value for that parameter. Apart from your own personal preferences for those two important societal parameters, you could also guess as to what the democratically determined values of the two parameters might turn out to be. Tons of good info regarding the many desirable aspects of, and the many societal problems solved by, SeD are easily searched. Enjoy and heave a sigh of relief! There is hope!

Answer 1

Hey loser, this is for questions, quit spamming us with your Stalinist pamphlets.

Answer 2

You are actually looking at a moving target. Providing a base standard of personal income causes inflation. inflation robs the wealth you provide at a fixed amount, and the government is not responsive enough to fix a set amount (by definition, the government will be using last year's figures to fix an amount). It is better to provide income in kind through social services. Social systems work better when the government can provide truly "social" services, such as defence, police, and health care (insurance programs work in a more efficient and normalized manner when there is a larger pool of people). If the government would provide a base level of services and necessities, the rest could be effectively handled by the free market. Adam Smith even put forward a similar proposition (in The Wealth of Nations, but don't ask me where... it was a long book I read a long time ago.) As for setting an upper limit, you would cause a disincentive to accumulate wealth, which would undermine banking an borrowing, so there should be effectively no upper limit.