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> no one should be accumulating millions by doing almost nothing as is the case now Outside of people who inherit this kind of wealth, who exactly is accumulat
by prottog 3y ago
> no one should be accumulating millions by doing almost nothing as is the case now
Outside of people who inherit this kind of wealth, who exactly is accumulating millions just sitting on their asses?
- PrimeMcFly 3y agoPeople who earn via investing for starters. And then you have people earning millions, that at least when compared to the numerous workers being underpaid and actually doing the hard work that generates profit, basically do so little work they may as well be sitting on their asses.
- umrcumrcu 3y agoYou would effectively ban investment then? No one could earn any money from index funds?
- mxkopy 3y agoblack/white fallacy
- umrcumrcu 3y agoSomeone has a million in index funds and earns more than a Walmart worker by "sitting on their ass". Are you proposing a ban to that?
- mxkopy 3y agolimit != ban Capital gains taxes don't prevent an investor from making money.
- nickpp 3y agoThey do disincentivize and thus reduce the investment in the area though. An area which helps the economy grow and in process creates good services and jobs for everybody.
- peterashford 3y agoYou really need to learn how to respond to arguments without constructing strawmen. You can't get to a resolution of different viewpoints by misrepresenting the opposing argument
- r00fus 3y agoYour argument is a strawman - but yes, ideally this would come via additional taxation or regulation of investment (which we do now, but not well enough).
- nickpp 3y agoThat would restrict access to early investment deals and opportunities for regular folks even more (today you have to be a "certified" investor) in turn increasing wealth inequality and social mobility.
- just-ok 3y agoa $10M portfolio with 10% annual gains (tweak the numbers as you’d like, it’s still fairly reasonable for the “wealthy”, I think)
- r00fus 3y agoI can't find the source, but I heard most of the newest crop of billionaires made all their money of financialized wealth (ie, not producing anything of value, just arbitraging something - probably mostly real-estate). They're not exactly doing nothing but they're not producing anything of real value. This is a growing problem in the US.
- snapcaster 3y agoI agree with your larger points, but also arbitraging away price differences is valuable for a society. It feels like one of the big advantages capitalism has versus planned economies