When ppl get rich in a sustainable way, ppl should celebrate, b/c, among other reasons, some of that $ goes to gov’t, which means more education & healthcare Without growth, we couldn’t pay for these services. Each public job is in effect “sponsored” by a private job (via taxes)
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See recent critique of billionaires for not solving climate crisis. US Gov't has over 4 trillion dollars (collected via taxes vs created via growth). What's better use for public $ than solving climate change? The more ppl become rich, the more money gov't has to do so.pic.twitter.com/5WaTvbKefa
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One thing I'd add is I'm surprised when pro-government fans don't want people to become billionaires as long as they are creating sustainable value (e.g JK Rowling)... It means more money for the gov't!
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Another addition: There are 2 distinct kinds of billionaire complaints: Those that think the $ would be better off distributed more widely among employees & public directly +those that think the gov't should be collecting the money & dispersing it itselfhttps://twitter.com/eriktorenberg/status/1204506799941881857?s=20 …
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It’s so much more simple than the taxation story. When wealth is created via consensual trade, the trade *itself* is profitable for both sides. So in a fair market, massive wealth is in itself proof of massive value delivered to society. That’s as a 1st order effect!
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was trying to talk to pro-gov't anti-capitalists on their own terms - 2 more replies
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“Tax the billionaires” — agreed!
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I'd rather share the upside upfront than on the back end b/c of the waste, but similar idea:https://twitter.com/eriktorenberg/status/1204506799941881857?s=20 …
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This assumes relatively low rates of rent seeking. Alas, we do not live in that world.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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You’re side-stepping. You’re not defending billionaires, you’re defending job creation. When people talk about billionaires, they’re talking about wealth inequality.
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