It’s not a matter of “nobody should be allowed to be ultra wealthy,” it’s a matter of “nobody should be allowed to be unacceptably poor.”
If our civilization can generate wealth at an astronomical rate, then there is no morally defensible reason for anyone to be homeless, hungry, poorly educated, lacking medical care, drinking unsafe water, worked to death, or any of a number of other baseline metrics of civilization. All of those ills exist because wealth is funneled upwards at an unbelievable rate, leading to the existence of billionaires. All of that wealth should be used to raise everyone’s standard of living, rather than give a handful of people more power and luxury than ever appeared in Caligula’s wet dreams.
Of course the way that you accomplish that is by an exponentially progressive taxation system, and that will… probably make it impractical to be a billionaire, but frankly I think that focusing on helping the bottom end of the economic ladder is more productive than just talking about how it should be illegal to have more than a given amount of wealth.
I’m still surprised that taxing the rich is such a difficult bill to pass. Assuming we live in a democracy, the 1% shouldn’t be able to have such sway over the population.
The rich have special access to the legislative machinery that the rest of us don’t. The end of real democracy in this country began with the Supreme Court’s “corporations are people / money is speech” rulings. Ordinary people can’t compete with the influence that billions of dollars of bribes brings.
frankly I think that focusing on helping the bottom end of the economic ladder is more productive than just talking about how it should be illegal to have more than a given amount of wealth.
Agreed. Generally easier to sell to the public, too.
That said, there’s also a bunch of stuff that wealth hoarding and extreme capitalism will still cause problems with, which isn’t directly tied to people living in extreme poverty. Climate change is just one example. Infrastructure is another. There are collective challenges that we can’t meet because of wealth disparity.
Maybe we just need to assign billionaires goals to achieve. “Hey, Elno, reduce world hunger sustainably over the next four years by 15% or we take all your money. Jeffy boy, you’re on housing; get us to zero homelessness before 2030, or we’re nationalizing Amazon. Oil execs, you get to tackle greenhouse gas emissions (I mean, you made the problem, you get to solve it). We’re replacing half of the gas stations in the US with fast charging stations, and we’ll sell off 1,000 a year to private owners; get us to net zero emissions and you get to have whichever of them the Federal Government still owns by that point. Whichever one of you chuckleheads gets done first gets all the other guys’ beach houses. And go!”
It’s not a matter of “nobody should be allowed to be ultra wealthy,” it’s a matter of “nobody should be allowed to be unacceptably poor.”
If our civilization can generate wealth at an astronomical rate, then there is no morally defensible reason for anyone to be homeless, hungry, poorly educated, lacking medical care, drinking unsafe water, worked to death, or any of a number of other baseline metrics of civilization. All of those ills exist because wealth is funneled upwards at an unbelievable rate, leading to the existence of billionaires. All of that wealth should be used to raise everyone’s standard of living, rather than give a handful of people more power and luxury than ever appeared in Caligula’s wet dreams.
Of course the way that you accomplish that is by an exponentially progressive taxation system, and that will… probably make it impractical to be a billionaire, but frankly I think that focusing on helping the bottom end of the economic ladder is more productive than just talking about how it should be illegal to have more than a given amount of wealth.
I’m still surprised that taxing the rich is such a difficult bill to pass. Assuming we live in a democracy, the 1% shouldn’t be able to have such sway over the population.
Lots of people don’t understand taxes and lots of others think they’ll end up rich someday and then it will affect them.
The rich have special access to the legislative machinery that the rest of us don’t. The end of real democracy in this country began with the Supreme Court’s “corporations are people / money is speech” rulings. Ordinary people can’t compete with the influence that billions of dollars of bribes brings.
Citizens United and Regulatory Capture.
Agreed. Generally easier to sell to the public, too.
That said, there’s also a bunch of stuff that wealth hoarding and extreme capitalism will still cause problems with, which isn’t directly tied to people living in extreme poverty. Climate change is just one example. Infrastructure is another. There are collective challenges that we can’t meet because of wealth disparity.
Maybe we just need to assign billionaires goals to achieve. “Hey, Elno, reduce world hunger sustainably over the next four years by 15% or we take all your money. Jeffy boy, you’re on housing; get us to zero homelessness before 2030, or we’re nationalizing Amazon. Oil execs, you get to tackle greenhouse gas emissions (I mean, you made the problem, you get to solve it). We’re replacing half of the gas stations in the US with fast charging stations, and we’ll sell off 1,000 a year to private owners; get us to net zero emissions and you get to have whichever of them the Federal Government still owns by that point. Whichever one of you chuckleheads gets done first gets all the other guys’ beach houses. And go!”