A staggering calculation of the $47T cumulative wealth transfer from the bottom of the income distribution to the top over the past forty years.https://bit.ly/3u9F90p
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Right, but just compare the returns to those kind of people today versus a decade ago, or two decades ago. Are you saying that someone like Adam Neumann should be paid hundreds of times more than what the founders of Intel or HP made at a similar stage of their company?
That word "should." Is there some basis for deciding how valuable a founders stock should be allowed to become?
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The idea is not to decide how much they should make, but making sure that the value is better distributed. Taxes never stopped big ideas from happening.
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Implicit here is some sense that valuations are determined in an unchanging way; Intel/HP were founded in vastly different regulatory environments which redistributed wealth/prevented inequality much more effectively
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Captain obvious here, but I think that these inequality issues are high level artefacts of deep/hard problems, that facile “tax the hell out of the rich” solutions cannot solve. Good education in a free, egalitarian, supportive society would most likely smooth these extremes out
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Just a reminder that there is a LOT of ground between “create a more equitable tax system” and “tax the hell out of the rich.” Characterizing the former as the latter is the best way to end up with the latter instead of the former.
End of conversation
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