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Calls to tax the superrich grow as economic inequality surges
(www.aljazeera.com)
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this post was submitted on 06 Sep 2023
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We're seeing so many economic problems being caused too much wealth being concentrated. Supply side economics was a stupid idea from the outset, but now we're in the supply side economics endgame.
The wealthy are using that wealth to make products no one needs while people are struggling to afford the things they actually do need. $3500 for Apple goggles? We don't need that and couldn't afford it if we did. How about yet another streaming service? Don't need it, can't afford it. Maybe some VR goggles the you can use to go into a virtual world where you're a legless cartoon character? We'll rename the company after this new product, that'll get people to buy it for sure!
Well shit, it seems the wealthy have so much money, they don't have anywhere to put it. Doesn't seem like enough people are buying the products they develop with that wealth, so what can they invest that money in? I know, maybe they should put it into real estate! Great, now ordinary people can't afford a place to live. Yay, supply side economics is working great!
Isn't the usefulness of ventures rewarded or not by the efficient market? I really like VR. An emerging market like that is bound to have some design dead ends and wasted money.
What efficient market?