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> Jobs don't just grow out of thin air Correct, they grow out of having a middle class with purchasing power, who can buy products and services, thus creating
by m12k 6y ago
> Jobs don't just grow out of thin air
Correct, they grow out of having a middle class with purchasing power, who can buy products and services, thus creating jobs for those who provide those things. But the middle class's effective purchasing has been going down for decades, while the wealth at the top has been increasing. So something needs to be done to balance these flows of capital - the current situation is not sustainable.
- bhupy 6y agoThis is correct, but a wealth tax is a bit of a non-sequitur, as it's a solution that has almost nothing to do with the problem. If the problem is middle class purchasing power, then the solution should be to directly improve middle class purchasing power (via a UBI). And no, a wealth tax will not come remotely close to funding a UBI.
- m12k 6y agoI agree that a UBI will probably be needed in the future, and that a wealth tax alone won't fund it - but it could be part of it. The way I see it a wealth tax is more like a 'catch all' tax - it's a fallback in case the other taxes and regulations that should be in place to counter-act income inequality fail. Those rules are much more important, but we might as well have the wealth tax too.