James GleickI’m seeing lots of schadenfreude about the guy “losing” $200 billion. It benefits no one. A better way would be to tax the megabillionaires fairly: i.e., returning the bulk of their wealth to the society that made them rich in the first place.
SmokeyGeo@JamesGleick this makes no economic sense because it 100% kills the incentive for any billionaire to invest and make more money. Not just billionaires but anyone in range of the tax threshold will not want to take a risk to create something that could succeed, thereby usually creating a bunch of benefits to customers, new jobs and so on. They'd be better off spending their money or holding it in a money market. These are the world's most productive people, so depriving them of investment opportunities is counterproductive to the rest of society