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How to fix the economy
(lemmy.world)
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this post was submitted on 08 Feb 2025
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She's not totally wrong
If we gave every American 1 billion dollars the current billionaires would lose massive amounts of power and it would help fix wealth inequality.
That wouldn't work because the bilionaires don't have money, they have assets, AKA capital.
If they had their money scrooge mcduck style. But the assets they own will explode in value almost proportionally to the value of the dollar
Oh yeah they would also need to be forcibly stripped of their assets
I thought that went without saying
Hah, well I'll go to this strip club.
Do that and get ready for 100,000 dollars for a dozen eggs cause the market will charge what it knows the customer can pay.
That's the point.
The poorer groups will pay the same amount of their wealth proportionally for things, but the proportional wealth of the rich will be dimished.
It would do nothing to wealth inequality. The assets the current billionaires own would just become valued at a trillion dollars, or even a quadrillion depending on how badly devalued the dollar became.