But is it really fair that a person with 50 million can turn that into 100 million
Yes.
And since that can only happen by investing that amount into the economy, it’s wisely encouraged by the system, versus putting the 50 million in a vault somewhere.
It’s essentially an investment in the country’s further financialization and privitization…both of which are things completely ruining the country (unless you’re rich, then these movements just make more parts of the country your own personal playground).
And, it’s worth pointing out that the rich carry a large asset base in their own companies which they can borrow against tax free while the value of the underlying assets continually grow. The only thing similar a non-rich person has access to is a home equity line of credit…and even then you own a home with equity which…you ain’t rich but you ain’t exactly broke either.
Yes.
And since that can only happen by investing that amount into the economy, it’s wisely encouraged by the system, versus putting the 50 million in a vault somewhere.
They are not investing it into the great magical economy. It’s in hedge funds that actively destroy the economy.
It’s essentially an investment in the country’s further financialization and privitization…both of which are things completely ruining the country (unless you’re rich, then these movements just make more parts of the country your own personal playground).
And, it’s worth pointing out that the rich carry a large asset base in their own companies which they can borrow against tax free while the value of the underlying assets continually grow. The only thing similar a non-rich person has access to is a home equity line of credit…and even then you own a home with equity which…you ain’t rich but you ain’t exactly broke either.