Hilarious so many people who don't understand economics are spouting opinions as if they are relevant. This entire article is a war against investments. What it doesn't articulate, and something the average person who isn't rich doesn't understand, is that those investments aren't just sitting there. Those investments are being used to support the entire economy. If a billionaire like Elon has 1t invested in TSLA, that money isn't just sitting there. TSLA is using it to do all sorts of things, almost all of which are mechanics of our economy. Maybe they use part of that investment for R&D which allows them to vastly increase the viability of electric vehicles (didn't think about that, did you?), or maybe they use part of it to subsidize the costs of providing childcare to TSLA workers, etc.
It's no different than a bank. It's why Elon can't just decide to liquidate all $1t. Instead, TSLA would have to make him wait so they can liquidate other assets to pay him his money. It's because the money isn't just sitting there. It's moving. It's shaking. In fact, billionaire investments are a big portion of our economy. Without them, we would still be in 1980s economy and probably not be the world power anymore (China would have vastly surpassed us by now).
I'm not saying there isn't a better way to make those investments help non-rich people. In fact, I have an entire plan whereby we could use the profit they make from those investments (capital gains at time of sale, dividends, options/futures profit, etc.) and help the average person. But, of course, there is no way I can know all of the logistics of making it happen so it's just a thought...but something I wish I could shop around.
What many of you need to hear is this...yes, rich people make a lot for doing little. Yes, what they are taxes, while not disproportionate, impacts them far less than the average person. But, the saying "fight fire with fire" is not just cliche. The money is out there to be taken. There are many legit ways to improve your station just by using investments, even with nominal amounts. I've done it. It took a ---- of a lot of work and trial and error but I was able to do it and I come from section 8 housing when I was 19. I'm not rich but I actually have a date for retirement now, when just 20 years ago I was still clinging to the idea I was going to die in my office because I had nothing to retire on.
It's out there. You can either whine about it and try to fight the system, or you can join in. Dr. Dre has one of my favorite lines about this principle..."I'm eating steak while they struggle to break the slave mentality". Sure, you can play the victim and that will get you so far. Or, you can change your mentality and reap the benefits. You can never know until you try.