> But wealthy people hold onto money-producing assets, which means someone is still using the stuff. Not always, but often. So it means that taxing it just take

> But wealthy people hold onto money-producing assets, which means someone is still using the stuff. Not always, but often. So it means that taxing it just takes it from one use (say, by a corporation) and puts it to another use (maybe a government use). Industrial capacity utilization has been falling since the 1970s. So the "money-making assets" have been in use less (also the only thing that "makes" new actual wealth is labor). There is a glut of capital sloshing around profitable sectors, as the vast majority of people agree. Underconsumption (over overproduction, different words for the same thing) is generally seen as the economic problem, which higher consumption taxes would worsen. https://monthlyreview.org/2008/12/01/financial-implosion-and-stagnation/ https://monthlyreview.org/2008/12/01/financial-implosion-and...