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In Reply to: RE: Future Questions? posted by RGA on July 23, 2020 at 22:47:46:
If Jeff Bezos was shot in the head and all of his assets seized and sold off and all his bank accounts emptied and distributed to the bottom 25% of America. Who would cry?
Do the same thing to every US billionaire - seize all their money and assets - have them dumped out into the street with $10 million cash. Who would cry?
If you try to liquidate all US billionaires' assets, the only parties who could afford to buy them are foreign investors. All you'd accomplish is transferring the wealth out of the US, so the whole country would be owned by foreign interests. Not to mention, the future growth of that wealth would all benefit foreign parties.
That would be a horrible trade for a cash infusion to the lower class, which would be spent on consumption, creating a short lived economic bubble followed by stagflation. It wouldn't make anyone better off in the long run.
I'm all for trying to close the wealth gap, but this is not a way to do it.
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Follow Ups
- The real question is, who would buy? - Dave_K 07/24/2012:36:59 07/24/20 (0)
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