There will be likely be trillions of dollars in economic damage in the US. We are already seeing $1Tn+ damage globally. $20Bn is a sneeze in a hat. You can’t throw money at this problem alone; you must put skilled people in charge of rapid initiatives that push regulation.
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1 Trillion in wealth. I could care less what happens to those with wealth, they’ll be fine. Throwing money at *people* that are demanded to self-quarantine? Maybe. Regardless, this could’ve been avoided with 2B on a pandemic response team. I think 8B is plenty to recover.
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You realize wealth isn’t distributed like that, right? $1Tn in wealth loss impacts the Fed interest rate, leads to quantitative easing, and plunges the country into an economic crisis similar to the 2008 financial crisis. This doesn’t disproportionately affect the wealthy.
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The ‘economy’ disproportionately affects the wealthy. Yes it does. Go back and do some 21st century research on the wealth distribution.
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Replying to @SureReno @nanogenomic and
No it does not. A temporary paper loss for a billionaire does not affect him 1/1000 as much as a job loss for someone struggling mate. Most big wealth is long term holdings. Fluxuations have little impact on those people.
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Replying to @afewcrayons @SureReno and
correct. we need to provide people at the bottom of the totem pole (*the foundation!*) with way more stability. this is where our internal sense of stability has to be.
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Replying to @DanielleFong @afewcrayons and
What is currently true is not the way it always was. You assume the wealthy's power, i don't. For example, when wealth was distributed more fairly via higher taxes and less subsidies anything that happened to the stock market directly affected workers, not just their bosses.
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Replying to @SureReno @afewcrayons and
I have fantastically more firsthand experience with the tech billionaires! You should credit me that at least!
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Replying to @DanielleFong @SureReno and
You can bet that
@ElonMusk and@JeffBezos are on the side of the future.1 reply 2 retweets 1 like -
Replying to @DanielleFong @afewcrayons and
This is something I've rigorously looked into. Elon and Jeff are great inventors and they could exist with higher taxes and less subsides. But in that world, Amazon workers have health care when Jeff wants to restructure or when Elon is done building a specific project.
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I think we can definitely make sure that universal health care comes in after this severe shock I have no idea how to scale the protection to prevent the deaths of 50 million, but I am giving it my best shot. Some people are just running into death, BUT Trump is moving.
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