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Billionaires are hoarding trillions in untaxed wealth. They want the Supreme Court to keep it that way
(www.rollingstone.com)
this post was submitted on 06 Jan 2024
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Because no human needs more than 1 billion dollars. Nore did any human come by that honest.
I get we're discussing wealth disparity, can't wrap my head around the proposed solution.
My only guess is that they meant if they had an investment that made $2 billion on paper that year they should have to pay the taxes on that whether or not they are required to sell off part of the investment to ensure it is paid. (Not sure, just my best guess of what they meant)
While you're waiting you can share with us your solution if you'd like.
I don't have one, I'm not an economist.
Anything i come up with doesn't come from a well informed educated background.
I can't really even grasp what a world without billionaires might look like. If their wealth was distributed to the rest of us, would that just inject trillions of cash into the economy and cause hyper inflation?
Also not an economist but inflation seems like a problem when you're trying to maintain scarcity. I can't see a problem if everyone can afford food and more people can afford fancy foods like Wagyu beef except that capitalists while think "I should be charging more for my fancy thing". To me, injecting trillions into public services sounds like we hop the gap into a post-scarcity thing where we stop charging for necessities like food, shelter, communication, entertainment, and travel.
"I'm not an economist" when asked for solutions, but you sound like you understand the economy damn well when discussing it and 'not being able to wrap your head around' other ideas.
I understand Econ as much as any highschool level graduate should...
I'm using basic supply and demand logic mate. Someone who actually understands economics would better explain the issue and solution (someone else in this thread might already).
Not sure why you're picking a fight with someone who understands their own limitations on a specific topic asking for clarity.
The solution is complex requiring every experts from multiple fields to solve and the ripples will affect everyone, even those that can ill afford it. And for those poor people, how does society go about choosing who to throw under the bus?
I think one thing that gets missed here, it that all rules and regulations can be bent and manipulated for one's own personal advantage. It's a part of human nature and drive to do so to gain an advantage - no matter how slim it might be.
The biggest issue that nearly everyone misses is not thinking about the longer term ramifications of "easy" solutions that seem to solve today's pressing problem. Social media can never "see" farther than the end of their collective noses. Example: the internal combustion engine and cars. 100+ years ago, it was an apparently "good" solution to the tons of horse manure being created in every city every day and it's attendant smell, disposal issues, and disease problems. At the time, who knew a bit over 100 years later it was not a good idea. It did seem to solve those immediate issues quite neatly at the time. And now many of us kind of regret it don't we?
And BEFORE you jump on me and the points I have tried to make it's not about "NOT" trying to make improved changes - changes are needed for sure. But the any changes you make must be carefully thought of and weighed against possible future unforeseen consequences as best we can. Social media platforms, (the society's "stupid" place), ain't it.