A million ain’t what it used to be. You want to retire so you need to invest. You don’t want to pass laws that make that impossible.
phoenixz@lemmy.ca 8 hours ago
Yeah, so this is the part where the market regulates itself? Y’know, the part where ultra billionaires just dump money by the boatloads to buy up stuff that everyone needs?
Capitalism will ONLY work if we put hard caps on how much wealth a single person can hoard. Billionaires shouldn’t exist. Millionaires shouldn’t exist. There is no need for them and there is no human right somewhere that says that you really van become one.
Any wealth over 1 million should be taxed 100%, doesn’t matter the country.
With that, we can say goodbye to hundreds of problems that plague the world, including this one
anon_8675309@lemmy.world 6 hours ago
RamRabbit@lemmy.world 7 hours ago
Millionaires shouldn’t exist.
Most middle-class people who put their mind it it will become a millionaire. It involves not buying cars constantly and investing your money and letting it grow for decades. I can’t stress enough how big of a difference those two things make.
Seriously, a huge portion of retirees are millionaires because they were responsible and didn’t blow all their money.
Ilovethebomb@sh.itjust.works 4 hours ago
Very much so, even someone in the trades could well be a millionaire when they retire.
iopq@lemmy.world 3 hours ago
My dad’s house that he bought in 2006 is worth over 1 million, how do you tax that
sin_free_for_00_days@sopuli.xyz 58 minutes ago
If you are in my state, it’s taxed via property tax.
Ilovethebomb@sh.itjust.works 8 hours ago
This platform is so incredibly out of touch with reality, especially the more left leaning side of things.
A millionaire these days just means you’ve paid off your mortgage and have a decent amount put away for retirement.
ScientifficDoggo@lemmy.zip 7 hours ago
I only half agree with this assessment. Most million dollar homes are million dollar homes due to billionaires and firms poaching housing from actual families and driving up prices.
Idk WHERE we draw the line, but I absolutely say we start culling from the top and see where we land.
Ilovethebomb@sh.itjust.works 4 hours ago
The housing market is effed in a lot of places, no argument from me on that. But stringing up someone with a nest egg for their retirement isn’t the solution.
ScientifficDoggo@lemmy.zip 3 hours ago
Oh, for sure, but I’d bet my goat that the problem would go away WELL before people started looking at single family homes actually owned by families.
iopq@lemmy.world 3 hours ago
That’s not true, considering 60% home ownership. How can most homes be owned by billionaires when most people own their homes. Are most people billionaires?
evol@lemmy.today 7 hours ago
Marx himself wrote this long ass book explaining the capitalism of his time, yet modern leftist have no interest understanding the economy of their time.
sin_free_for_00_days@sopuli.xyz 57 minutes ago
I don’t remember it being that big of a book.
evol@lemmy.today 35 minutes ago
I think all volumes of capital combined are like 1000 pages?
Ilovethebomb@sh.itjust.works 3 hours ago
There’s a lot they don’t understand, to be honest.