One of the problems with having very wealthy people is that often they have no idea what they should do with their money.

[futurebird@sauropods.win]

One of the problems with having very wealthy people is that often they have no idea what they should do with their money. This can be hard to understand for the work a day stiff such as you and I: If I had more money there are repairs and upgrades to make, little fun things to buy, family members to help, trips to take and so on.

But if you have 50 million dollars? You can run out of ideas of things to spend money on. Hedonism has limits and each person can only think of so many projects.

[tgent_fens@mastodonapp.uk]

@futurebird an astute argument for paying higher rate taxes, wealth taxes and inheritance tax. Love it.

[futurebird@sauropods.win]

@tgent_fens ?

The entire concept of markets being good things is dependent on every dollar being spent in some way representing the intentions, desires and values of real human beings and the things that they want.

So what happens when a large portion of the money isn't being spent on things that make sense? What happens if the best way to increase your wealth is to exploit loopholes and insider information?

The whole system starts to fall apart.