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this post was submitted on 29 Aug 2024
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I don't think it's the best way out of all possible options. Even if it does "create jobs", a lot of those jobs aren't producing much of wider value, and most of the wealth stays in the hands of the ownership class. And a lot of the jobs are exploitive, like how "gig workers" are often treated.
Changes to tax law and enforcing anti-trust stuff would probably be more effective. We probably shouldn't have bogus high finance shenanigans either. We definitely shouldn't have billionaires.
Oh sure, I was mostly being flippant. My response to the article is basically that billionaires losing billions is a good thing. I don't feel optimistic enough to say we'll get around to taxing them but yes, that would be ideal.