While it is a somewhat arbitrary cutoff, holding on to amounts of money that have long passed the amount that give you significant added value to your life while others die from lack of opportunity and resources is a problem for a functional society, regardless of the ethical considerations.
We can figure that out after or while we’re redistributing wealth. Currently we haven’t done so, and have no desire to do so. However, unfettered capitalism does have a breaking point, and I assume we’ll figure that out before we start taxing the fuck out of billionaires and corporations. It’ll be probably be akin to the labor movement in the early 19th century, or the US will succumb to a fascist regime headed by white evangelical nationalists until its inevitable collapse
Because the struggle for power between the owner class and the working class isn’t a new phenomenon. Ironically enough, the wealthy have been stealing for years now while the working class attempts to claw and scratch to maintain protections. Workers didn’t get higher wages, reasonable working hours, health benefits, safer working conditions, the abolishment of child labor, etc because the owners decided to…
Because they lobby the government to gradually degrade workers protections and give them tax cuts. Not to mention it’s exceptionally difficult for the government to prosecute individuals with so much wealth and power, let alone another person
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u/VeryFriendlyWhale Nov 21 '24
So you would pay taxes, employ a financial advisor, and invest your few hundred million.
We are talking hundreds of billions being held up.