Truth Sandwich 🥪🇺🇸😷@unktheunk @HistoPol @almaember @gwit @dung_eater @palestine @NoFlexZone @Lastresponder @Outpatientzero
The point it makes that's relevant here is that socialism undermines any motivation to create wealth, leaving too little pie to go around, no matter how fairly it's sliced up.
Demonizing billionaires makes this socialist error; it punishes those who are financially successful, thus demotivating the ambitious. Only, being ambitious, they won't give up, they'll just go elsewhere, taking their money with them.
A 100% tax on wealth over $1B would get a total of $0 during the short period before it's repealed.
We can reduce inequality by focusing on its causes, not its symptoms. At that point, if the only way to make billions is through socially-positive means, then the existence of billionaires becomes a sign of success, not failure.
If you want to argue that we need to block the ability of money to buy political power, I'd agree completely, but that's not the same as destroying billionaires.
HistoPol (#HP) 🏴 🇺🇸 🏴
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