Difference between the capitalism our parents had vs us. They had taxes on the rich. So they could afford homes and retire and never needed 3 jobs to scrape by. In fact one job was enough to afford a home and a family.
This is just painfully and obviously not the reason why childcare is so expensive now. Labor costs are higher these days (Baumol's cost disease), regulations have become more strict because we are more protective of our children, and multigenerational living has declined.
Taxing the rich is great but it's not gonna fix any of those.
Taxing the rich means that there are fewer people with absurd money, which means businesses won't have many customers at such high prices. It's like McDonalds charging $5 for a quarter of a potato. They're hoping that the lost sales from the poors at such a high price is made up by fewer high priced purchases by the rich.
If even the rich couldn't or didnt want to afford $5 quarter potatoes then they'd have to lower the price
Taxing the rich is not going to solve any of this. It may help some, but it's nothing like the panacea certain people pretend it is.
If we took all the assets from all the billionaires in the US, that total is something like $6-7 trillion if we pretend there's no asset price decrease in the selling of said assets.
Sounds like a lot, but we're nearly $40 trillion in debt. Taxing the rich heavily won't solve a spending problem.
The federal government specifically, and the admin class in general was a lot smaller during our parents' era.
SR2Z|6 days ago
Taxing the rich is great but it's not gonna fix any of those.
vinyl7|6 days ago
If even the rich couldn't or didnt want to afford $5 quarter potatoes then they'd have to lower the price
collias|6 days ago
If we took all the assets from all the billionaires in the US, that total is something like $6-7 trillion if we pretend there's no asset price decrease in the selling of said assets.
Sounds like a lot, but we're nearly $40 trillion in debt. Taxing the rich heavily won't solve a spending problem.
The federal government specifically, and the admin class in general was a lot smaller during our parents' era.
inigyou|5 days ago
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