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Old 09-29-2021, 10:53 AM   #378
AltaGuy
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I think I've already said this recently, but I personally have no problem with billionaires, or multi-millionaires, or anything else attached to wealth.

What I'm concerned with is simply inequality - specifically, all of the measurements demonstrating that the share of wealth held by the richest has increased massively over the last forty years in Western societies.

And the gap will continue to grow: capital is far outstripping wages in growth, which is a feedback loop common under all capitalist systems, and requires mechanisms to prevent or reverse.

I don't think it should be shock-taxes, or completely upsetting the apple cart, but I do believe that there are signs (Trump, Brexit, anti-vaxxers) that destabilization and populism is already growing across most Western societies. There could be - and likely will be - worse to come, especially with the pressures climate change will present.

Populism, violence, unrest - these are ultimately inimical to stability and growth. Western societies, and especially Bezos et al, rely on stable markets for their products. That means the masses. The "Walmart" formula of sucking the public coffers dry to artificially increase profit margins is a recipe for disaster in the long term in my opinion.

There are not easy answers, but in my opinion the signs are there. And history has pretty clear lessons on what happens when inequality reaches a boiling point.
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