"Billionaires now hold so much of the world’s wealth, their apologists argue, there’s no choice but to rely on them for philanthropy. But we can’t take our eyes off the ball: We need to tax the ultrarich out of existence."
In an age of massive global inequality & billionaires supporting authoritarian politicians & doing precious little about climate disruption, it's time for global wealth tax
https://jacobin.com/2021/11/elon-musk-wealth-tax-inequality-poverty-philanthropy
@Lylamehta Have you seen this? It's a beautiful graphic depiction demystifying the flow of money through our society using plain language.
This should be taught in schools to increase literacy in #economics
@Lylamehta didn't Elon have an idea about a submarine a few years back...?
Just saying.
@Lylamehta
Wealth concentration is an inherent property of a capitalistic system.
In the absence of sufficiently progressive taxation to counteract it, the inherent advantage of the wealthier participant in every transaction leads to a positive feedback loop of wealth accumulation and concentration, with mathematical inevitability.
https://www.scientificamerican.com/article/is-inequality-inevitable/
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Lyla Mehta
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