Apr 3, 2024
In capitalistic societies/countries, wealth does generate wealth. No doubt about it. The old "rising tide lifts all boats" adage is true. The problem is that the wealth that "trickles down" is indeed a trickle. We could adjust our tax policies in such a way that poor get a bit more without doing the rich any real harm. If, for instance, we slapped a 50% tax on Jeff Bezos or the Koch brothers, they wouldn't like it but it would make no difference in their lifestyles.