The one thing the wealthy are doing for us right now, is investing most their money. In this country we have extremely liquid markets. Investment quickly pours into any potentially good idea. Musk -- and ill do a write up why i hate his guts when I'm up for it -- does show how a electric car company goes from nothing to dominating all the old auto companies around the world incredibly fast. It can't happen without these kinds of markets.
You can do big things without markets. In fact most the really big stuff is done by governments. But for typical products and innovation -- you need the private sector strong.
The question is: how do we preserve all these market advantage as much as possible -- while dealing with the kinds of problems this sort of market creates?
I honestly think the answer lies in taxation of personal wealth in the end. The nose will eventually close around the high end tax dodgers. If nothing else because at some point even the rich lose common cause with the .05% or whatever.
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