Better some waste happening in the public sector and a still a public road being built than a crypto bro buying a lambo from a windfall they made on a rug-pull from a meme coin.
If you don't artificially curb wealth accumulation with laws, taxes and wealth limits, you will always and inevitably end up having an accumulation of wealth that allows the rich to stay rich forever, and keep the rest perpetually in poverty. I have consistently been in the highest taxable bracket in my country, and am happy to contribute even a bigger % of my wealth towards the betterment of the living conditions of my country and city.
> The gap was most pronounced in the US: less than 10% of sons with low-earning fathers made it into the richest 25% of the population, while almost 50% of those with top-earning fathers grew up to become high earners themselves
Talk about "self-made". History has shown again and again that this can only go on as long until the poor and oppressed rise up, seize the wealth, and in the process, harm their "oppressors".
If you don't artificially curb wealth accumulation with laws, taxes and wealth limits, you will always and inevitably end up having an accumulation of wealth that allows the rich to stay rich forever, and keep the rest perpetually in poverty. I have consistently been in the highest taxable bracket in my country, and am happy to contribute even a bigger % of my wealth towards the betterment of the living conditions of my country and city.
Sauce:
- https://ifs.org.uk/articles/inherited-wealth-course-be-much-...
- https://www.weforum.org/stories/2018/08/moving-up-the-income...
> The gap was most pronounced in the US: less than 10% of sons with low-earning fathers made it into the richest 25% of the population, while almost 50% of those with top-earning fathers grew up to become high earners themselves
Talk about "self-made". History has shown again and again that this can only go on as long until the poor and oppressed rise up, seize the wealth, and in the process, harm their "oppressors".