I think the problem is less that billionaires exist and more along the lines that the lower class is strapped which means they consume and invest less. I don't think taking wealth from billionaires and distributing it to others really does much of anything. America simply isn't investing in the future at a high enough rate. Crumbling infrastructure, high healthcare costs, crappy education, etc. will catch up to you.

But where is the money for this investment into the future supposed to come from? The country is running up huge deficits as is, and demographic chance means that the federal aids to medicare et al. will only go up over the coming decades. Dito for climate change, which will on aggregate also cause additional expenditures. Yes, the current budget has room for cuts, particularly on the DoD side of things, but it needs to shrink just to become sustainable again. Unlike what many leftists want to make us believe, things dont pop into existence out of thin air - with any kind of spending, there's always someone who has to pay for it. I just dont see how all those future investments are supposed to add up unless we milk either the middle class or the rich.

Gradually increase taxes on everyone. Honestly, the Clinton tax structure would be a very good goal for income below 400k. Also, create a VAT to level the playing field at the corporate level.

The budget needs to be reduced, yes. However, most of the discretionary spending is pretty flexible.

"oH lOoK, hE's sAyiNg eVeRyONe sHoULd bE a BiLliOnAirE. tHaT's aBsUrD, sO yOu MiGht aS wElL iGnOrE tHe cRiTiCisM. tHe sYsTeM iS fiNE!"

- very smart shills

when you can only attack a poorly constructed strawman its not a sign you are capable of defending your positions.

The min wage isn't and shouldn't be connected or related to the profit of 'billionaires' or various businesses.
Its a nonsensical statement meant to appeal to emotion and anti-capitalist sentiments rather than reason.

But I agree the system isn't fine. The minimum wage is too high.

Of course it is, where the hell did you learn about business?
ROFL
"ThE MiNiMuM WaGe IsN'T ReLaTeD To PrOfiTs"
This is why no one takes lolbertarians seriously.
When i worked for bp if we had a downturn in profits literally the first thing we looked at was how many hours we could cut from workers, because that was an instant profit method catch all.
I assume you live in your mothers basement watching mises videos all day and have never worked a day in your life but i still can't understand the staggering amount of ignorance that goes into the claim that minimum wage has nothing to do with profits.
The lower you pay less skilled positions, the more you profit, business 101.


This post was edited by Plaguefear on Sep 9 2020 02:29am

sftu


seek first to understand

I am saying whether or not the minimum wage is raised or not isn't and shouldn't be connected to anecdotes of profits and for good reasons.
The existence of that 'evil' rich man over there that made money distributing goods to the masses doesn't remove the negative effects of a higher minimum wage.

Obviously government price controls on labor will effect profits in some ways.

This post was edited by cambovenzi on Sep 9 2020 02:46am

We are once again at an impass where i literally live in a place with a $21 minimum wage and things are great here and have been to the states and seen how hard people have it.
So i see the guy who has never worked a day in his life who just reads mises telling me the system i literally live in can't work when it is literally working.. it kinda seems hilarious.

You thinking things are great doesn't remove the negative effects of a high minimum wage.
Arrogance and derision and personal attacks based on your embarrassing misunderstanding of events doesn't make up for understanding what you are talking about.

This post was edited by cambovenzi on Sep 9 2020 03:11am

Literally living it, not reading about it on mises website.