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Billionaires should not exist.
(lemmy.world)
cross-posted from: https://lemmy.world/post/13165402
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this post was submitted on 16 Mar 2024
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To put it simply, if I could sell a penknife with a force-field blade to a nobleman, it would be to his interest to force laws that would allow him to use it. Put that baldly, it sounds silly, but it is sound, psychologically. To make strategic sales, at strategic points, would be to create a pro-nucleics faction at court. -- Isaac Asimov, Foundation
The problem is billionaires are going to put their resources into manipulating legislation and regulation so as to allow billionaires to exist, and to exist without being taxed or otherwise harassed for owning so much.
This was a problem with the train barons and industrialists (who believed the Great Depression was a fine time). We need to stop them before they have armies of AI-managed armies of killer robots with which to defend their fiefdoms.
I don't know how to do that. So far, nobody knows how to successfully tax them or otherwise get them to reduce their personal power.