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There is no problem in having billionaires, there is no problem in an income gap. If we are all billioniares, fine. If the lowest income can buy everything they
by _Codemonkeyism 9y ago
There is no problem in having billionaires, there is no problem in an income gap. If we are all billioniares, fine. If the lowest income can buy everything they want, fine.
The problem is that billionaires buy politicians, people are too poor to live in western countries despite working, sometimes two jobs, and people with income from work pay for social security and income taxes while billionaires with income from capital gains don't pay relevant taxes and don't pay for social security or their fair amount for health care.
So focusing on billionaires is a distraction. We need to focus that people have meaningful income - especially with the coming AI/robot revolution - and meaningful lives. Capital gains and companies need to be taxed the way people with income from employed work are taxed and need to contribute the same amount to health care and social security.
But this will not happen, because see "buy politicians". There is only one reason that billionaires and celebrities hang around with boring politicians. It's the best investment.
- bantunes 9y ago> There is no problem in having billionaires > The problem is that billionaires buy politicians Is your solution somehow forcing billionaires to not do what their wealth allows them to? If they can, they will. That's why having billionaires is a problem.