this post was submitted on 25 Jul 2024
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[–] blazera@lemmy.world 48 points 3 months ago (1 children)

Its a built in feedback loop. Under capitalism, resources are distributed based on capital. But capital is a resource. So its naturally going to concentrate.

We need hard caps on wealth

[–] gnutrino@programming.dev 3 points 3 months ago (3 children)

Not sure how you achieve that in a world with multiple nations though. Capital is naturally pretty mobile.

[–] Kecessa@sh.itjust.works 22 points 3 months ago (1 children)

G20 is currently holding negotiations to start imposing a minimum tax on billionaires, guess which country is against that...

[–] TexasDrunk@lemmy.world 7 points 3 months ago

Vatican City? Please, please be Vatican City.

(I know it isn't)

[–] uis@lemm.ee 2 points 3 months ago

Capital is naturally pretty mobile.

Ban export of capital.

[–] blazera@lemmy.world 1 points 3 months ago (1 children)

How do you see it play out if we say, in the US, any wealth over the cap gets taxed away.

[–] MCasq_qsaCJ_234@lemmy.zip 2 points 3 months ago (1 children)

It will only cause more capital to go to tax havens.

[–] blazera@lemmy.world 1 points 3 months ago

Still count it towards their wealth