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Well said. People won’t like to hear it but it’s true. If you seized the wealth of every billionaire in the US you could fund the federal government for about a
by slopinthebag 3mo ago
Well said. People won’t like to hear it but it’s true. If you seized the wealth of every billionaire in the US you could fund the federal government for about a year. Of course most of it is not liquid so in reality much less. So when people talk about how we need to “tax the rich” and our problems will be solved I assume they're lacking in political knowledge. Or they just see it as a form of punishment for daring to accumulate so much wealth.
- archagon 3mo agoWealth of this nature is not accumulated; it is extracted.
- slopinthebag 3mo agoIt’s actually created.
- archagon 3mo agoIt’s not. It’s extracted.
- slopinthebag 3mo agoHow can it be extracted if it didn’t previously exist? Economies aren’t zero sum, they can grow and contract.