The wealth of the rich is still growing and it will continue to grow automatically until the middle class ceases to exist. If we do not take the assets back, it will become impossible for normal working people to ever buy a house, or have any economic power over their own lives at all - nevermind the political control or the media manipulation.
Extreme wealth concentration is THE biggest issue facing society. Mamdani is absolutely right.
Hoarding = mental illness = billionaires
I’ve said this for years, even before getting my brain dirty. Back then I used to say no millionaires should exist, but with the current price of everything, I could at least see an argument now.
But I’m still leaning towards no millionaires should be allowed to exist.
Even 6 digits is actually too many outside of just having a savings hoard if you have a bunch of people to split an inheritance into.
House prices should be 5 digits anyway.
I agree there is no reason why an individual should have that much economic power. There is no justification for that amount of wealth in so few hands.
They could just stop impeding progress and let the working class have things like healthcare and a living wage. Guess that’s too much to ask and they would prefer guillotines?
Yeah, we probably shouldn’t have people who horde so much wealth it negatively affects the economy.
Lmao that’s because we shouldn’t have billionaires
It’s not that we shouldn’t have billionaires. Its that we have billionaires when we have people living on the streets because the rent is so ridiculous. Its that we have people dying on the streets because they cannot afford health insurance. The gravy on the shit-fest is that billionaires are actively bribing the politicians to prevent those policies from being implemented. That is the textbook recipe for guillotines.
If a Billionaire turned comic book EVIL and decided to go rogue… What exactly would stop him. Most countries don’t have the money or desire to do anything
He’s right. Let’s see if people could live off 999 million in assets.
Even the billionaires would be better off without billinaires. It their relative ranking was the same they would still have more money than they could spend but it would now come with clean air, water, land, better infrastructure, a healthier world, happier people to interact with.
Yah I don’t think we should either.
Here in the UK 78% of people support a 2% wealth tax on net assets worth more than £10 million yet our spineless neoliberal government is more focused on cutting disability benefits and bombing starving children.
Can’t they just get around a tax like that by borrowing cash (for their lifestyle) and using their assets as collateral?
It will lead to more dark money. It’s very hard to accurately measure a persons net worth when their financials aren’t just a house and an IRA like the average person. Especially if they don’t want you to see it. You’ll never be able to implement that tax in a consistent way.
That’s why accountants and auditors exist.
If you’re suggesting that it shouldn’t be done because its too hard – it’s not. That’s just a dumb excuse.
This needs to become the mainstream opinion. Billionaires and ultra wealthy shouldn’t exist. There is no trickling down or any of that stolen wealth coming back into the hands of average people.
Imagine if billionaires paid their fair share of taxes. Municipalities would fight to get them to live in their area
Greed needs to be treated as an addiction just like alcoholism or gambling.
The rich can do it without civil or criminal consequence?
As in it’s a mental illness.
They will just live in other countries if being a billionaire is illegal.
They can live where ever they want. The assets are here and we can tax them here.
That’s the neat thing, they won’t. It’s pretty easy to apply a high tax on moving away. In fact the USA of all places do just that.
Also, what do rich people possess? Assets. Physical assets. A big part of that is real estate, owned privately or by companies they own. There’s no taking that with you. They can sell their assets and try to take the money with them, but that means the society they leave gets it’s assets back.
It doesn’t matter where they live. If the US exerts pressure on whatever country the money is in they can and would get that money back. They’re somehow able to freeze the accounts of Russian oligarchs so they’s no reason to believe they couldn’t do it with Bezo as well.
Lol, no. This is a strawman argument. Billionaires will absolutely not give up their precious connections and real estate to live on a private island or move away. Even if 50% would do that (lmao never) the tax would still be a huge benefit. Even without the money, not having these greedsacks meddling with local politics and laws would be a dream.
That’s fine, billionaires do not add to an economy, they drain it. So if they leave it will remove a useless burden on the economy and whatever country is dumb enough to take them in can deal with them instead. Meanwhile, if they are pulling money from our country we can find ways to tax it and prevent them from draining our resources (and yes, money is a resource like any other).
That’s the idea I think.
As long as they stop siphoning money from us, I’m fine with that
Hopefully the corrupt ones go to China or Vietnam because they’re not afraid to give corrupt billionaires the death penalty.
Billionaire says 'I don’t think we should have Zohran Mamdani ’
