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54 sats \ 10 replies \ @jgbtc 12 Aug \ on: Tax the Rich? Not a Good Idea econ
The entire net worth of "the rich" is a rounding error compared to government spending. This is just the classic ploy of turning the people against each other and keeping them distracted from the real problem.
Don't let the facts get in the way of a good story bro...
When half of the worlds wealth is held by the richest 1% leaving the remaining 99% the other half...the net worth of the wealthy is far from a rounding error!
When in reality the wealthiest 1% enjoy nearly 2/3 of the wealth created leaving the remaining 99% just over 1/3 the net worth of the wealthy is far from a rounding error!
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I think you should revisit your Adam Smith. We aren't just dividing up fixed resources. The world is getting more prosperous and in a growing resource environment those who make wise entrepreneurial decisions will disproportionately benefit.
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“Wise” .. they just abuse people, because workers need a salary to survive or have a “normal” life as sold by the society. They also don’t pay for pollution, society (us through taxes) we pay for it. Look at the top wealthiest people and how they always find a way to crush “costs” for their own benefit (salary, bonus, gifts, external expenses, etc.).
Sorry but top 1% shouldn’t exist anymore in 2024.
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You'd think, right. How badly did the 20th century have to go for them to be discredited?
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That's not how percentiles work
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That wasn't my point, but you're also wrong about the point you're trying to make.
Offering someone in Bangladesh an economic opportunity that they didn't have before is not "abuse" by any reasonable definition.
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