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> Most of the billionaires are first generation This is a quirk of the tech boom and we are in a blip in history. Also when you say 'most' its a slim majority,
by Gustomaximus 6y ago
> Most of the billionaires are first generation
This is a quirk of the tech boom and we are in a blip in history. Also when you say 'most' its a slim majority, about 55% which is fair to recognise. And I agree on its own it wont help economically, but this is one tool to help this balance, these things are done in part, not one variable solves all which also needs to be recognised as will it have some positive effect, rather than does it fix the entire issue, if you believe dynastic wealth and intergenerational inequality is in fact an issue as many wouldn't.
> This will make it very difficult to compete globally in the capital intensive industries.
While there is likely some edge cases, helping small business and putting focus there doesn't have to be against big business. There is good and bad options within this statements. Monopolistic behaviours aside when I say focus on small business I dont mean restrict larger business. But you can look at rules that level the playing field. For example you could ensure distributors have open order systems so Walmart cant get goods at half the price anyone else can. Or make tax forms efficient so that 10 man business doesn't need a full time accountant priced into their small operation type changes.
This wont effect the capital intensive industries + will also benefit big business, however the benefit will be felt more for smaller operations.
- kortilla 6y ago> so Walmart cant get goods at half the price anyone else can. But that in itself is already restrictive. As a manufacturer I would rather give one giant customer 100,000 units than 10,000 customers 100 units in a huge range of products. The overhead of dealing with different customers, different shipping, different receiving is a big pain in the ass. This is why there is a such a thing as volume discounts. So you’ve forced the local manufacturer to have an artificially high price for high volume customers and Walmart just goes to a Chinese manufacturer. See the problem here?