Look, if everyone is a millionaire then no one is rich. We don’t want that level of chaos now do we?
/s
This is a fundamental notion in macroeconomics. Money in the hands of the wealthy gets hoarded and then is not flowing.
And then the working class starts singing Bolshevik anthems.
Then why do they keep consistently setting up systems to redistribute our wealth to them?
Because the systems we set up are dependant on money. And who has all the spare money?
Reminds me of that article the other day where the richest man in France was telling us why a wealth tax was a bad idea. Okay, pal. No conflict of interests there.
Sad thing is when a fellow poor says it.
I think a lot of people don’t realize that nation’s wealth while changes over time is fixed and distributed over the population.
They think that people like musk having 450 billions doesn’t affect how much they have in their pocket.
Financial obesity is an existential threat to any society that tolerates it, and needs to cease being celebrated, rewarded, and positioned as an aspirational goal.
