Not to mention that the top owner owns more than the second and third combined...
A Boring Dystopia
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robber barrons 2.0
What people often forget about trickle-down economics is that wealth only trickles down to named beneficiaries
That's not liquid money though. For each one, the figures mostly represent stock in their own companies which they couldn't pull out without crashing the value. Musk's wealth in particular is mostly air. At least the other two have profitable companies that actually function. In any case, much of it's not real money we could pull out of the bank and spread around. (But we could tax the fucking snot out of them and spread that around!)
But even if they were "only" worth a few 10's of billions, the real issue is that they own the government. And Zuckerberg and Musk own a monster chunk of our social media, control our opinions.
tl;dr: It's not real money and the problem is influence, not total wealth.
Fuck trickle-down, time to implement the piñata economy.
At first I thought it was combined. Not "individually each." And not by twice.
Well, only on paper. Someone actually has to buy their shares first.
They take out loans against their stock, kind of like a HELOC. So they get money without reporting any income too cuz it's a loan.
Of course. Never said that those are 100% stocks. They have massive expenses to cover and they use the stock value as leverage. The banks giving out loans are creating the bubble.
It never trickles down.
The bottom 50% of households have an average net worth of $629?
Taking into consideration the large amount of credit card debt, student loans, mortgages, etc.? It's plausible. Someone who rents, is living paycheck-to-paycheck, and has maybe a few hundred dollars in credit card debt could be in the "negative"
Most of America cannot absorb a sudden expense of 400-1000 dollars.
The only peaceful way I see wealth being redistributed is if Musk, Bezos, and Zuckerberg use regulatory capture to reform government in order to raise their own taxes. Such a scale of philanthropy hasn't been seen since the robber barons Andrew Carnegie and John D. Rockefeller donated to build libraries and improve public education. Had those Guilded Age monopolists they also used their wealth to compel the US's legislative branch to raise taxes, bolster anti-trust laws, and prevent the acceptance of consumer welfare doctrine over plain anti-monopoly policy, then I'd argue their donations to improve public education would have gone much farther.
That said, plenty of non-peaceful ways exist much like there are many ways for an iceberg to flip over.
Cannot wait for the next big solar flare that destroys all online servers of Fakebook and shAmazon. All this money will actually turn out to be a fake bubble...
Every 30 FUCKING HOURS, since Covid, another Billionaire is created. That number was halfed before 2020. It means that nearly 500 people became billionaires while pretending they needed to raise prices astronomically to stay solvent. They need to be tried and sentenced harshly. VERY harshly.
And this graph is old, isn’t it? Their wealth is snowballing rapidly, hence Larry Ellison is at $250B now.
Can someone do the math for me... If theoretically that was all liquid and those 3 got Thanos snapped with the money redistributed, how much would each American get?
and they couldn't just be happy being that rich. They got bored and decided to kill us all. They need to be rounded up and put on trial. Why are people so afraid of rich people ~ Luigi
The "money" used to buy bread is a very practical medium to exchange resources. These figures with too many digits are not real: that "money" is a result of sums of products of virtual values based on credit and speculation. The fact that the same symbol ($) is used for these two very different things sounds like a systemic bug.
You say that but they can and do use that virtual value to buy bread.