this post was submitted on 08 Dec 2024
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Nobody becomes a billionaire by being "a bit greedy"
One billion dollars is an insane amount of money.
Reminder, 1 billion dollars is:
Billionaires have all that money even after their expenses. It's their "savings account", but their savings account makes much more interest than ours because they are actually invested in the market. If they need money beyond their regular pay, they use their investments as collateral for loans with interest rates lower than investment returns. They're making money even if they are spending it.
Wealth is not money.
Point being?
They do in any advanced economy...
But steam don't tax plebs like housing, health, and education does
A billion dollars is never "a bit greedy". It is always a failure of the system to regulated exorbitant wealth through effective taxation and fair market economic policy.