What does Musk becoming a trillionaire mean for you, your children, and your property?
« If you have an untaxed, incredibly wealthy billionaire class, then we will move very quickly to them owning everything and you owning nothing, and that will lead to incredibly low standards of living for ordinary people. »
Gary Stevenson, a former interest rates trader at Citi bank in London, explains very well the simple, brutal logic of compounded interest and its social consequences. Not taxing the super-rich means more and more inequality, a constant rising in the price of most assets, and more and more people being excluded from owning property.
We’ve been there many times in human history. We don’t have to return to this sorry state of affairs. We don’t have to accept jobs, the middle class and the welfare state being replaced by AI and luxury goods for the few, democracy and the freedoms we fought for being replaced by arbitrary cruelty and servility.
Tax wealth, not work.