Do You Really Think Taxing the Rich Will Solve Our Problems?

What justifies Jeff Bezos and Richard Branson investing their personal money to travel to orbit since we already have a scandal-plagued and inept federal agency to do so? After unleashing Tubular Bells, as well as the Sex Pistols on the globe, all Richard Branson really actually gave up was half his riches.

Think Again

All Jeff Bezos really accomplished was creating a corporation that delivered anything we needed to our doorstep within minutes, making a year-long epidemic tolerable. Maybe Elon Musk is already on the dole. So who are they to condemn him as long as he’s investing his own money and living in a $50,000 prefabricated house?

If Congresswoman Alexandria Ocasio-Cortez’s senior policy adviser is correct in his assessment that every millionaire and billionaire is a policy failure, then what is the solution? Is it to appropriate the riches they have amassed for the state, which is actually just yet another title for the activities we are doing?

For example, the United States maintains 800 military outposts in more than 70 countries and spends more on defense than another 11 nations combined. Alternatively, we may spend the next half-century prosecuting people for cannabis use and imprisoning more Americans per person than Cuba, Russia, and China.

Alternatively comes passing enormous COVID relief legislation that only invests 5% of their tallies on COVID alleviation.

There is a Lot More Money Out There Than Just That of Musk and Bezos

As per Forbes, there seem to be 724 American billionaires totaling $4.4 trillion. There are far-out rocket crazies like Bezos and Musk on the list, as well as Hollywood bigwigs Steven Speilberg, Tyler Perry, and Kim Kardashian.

We might cover about half a year of joint local, state, and government spending if we could magically liquidate all of that money without precipitating a market crash that would annihilate much of it.

Rather than going after billionaires and his allegedly penis-shaped spaceships, millionaires such as Jon Stewart and Jason Alexander (who teamed up to make this short movie ridiculing Branson, Bezos, and Musk) should go after the federal government, which is by far the hardest worker in the building.

Our federal debt is currently over $22 trillion, and it will likely rise in the coming years, with interest payments on the debt accounting for roughly half of every dollar spent by the federal govt by 2050.

This level of debt is significantly linked to slowed economic development, which is the only method to improve living standards and practices. The United States will have no choice except to increase taxes on everybody and cut Social Security and Medicare in the coming years; these are the largest budget stoppers.

However, by that time, it will be too early for a group of old people to make appropriate plans. Furthermore, a US debt crisis might destabilize the dollar and our overall economy.