Wealth Inequality
Jeff Bezos, Elon Musk, Michael Bloomberg, George Soros and others paid ZERO federal income tax in recent years. They do this legally by being paid in stocks and then borrowing money at a low interest rate against those stocks. They have unlimited money, but no income, so no income tax. These loopholes need to be closed. Banks make money, billionaires save money and the taxpayers get screwed.
Elon Musk is worth over $800,000,000,000. (800 Billion). I wrote it out so you can see all the zeros and try to wrap your head around the number. $1 million would be life changing for me and for most people and he is worth that 800,000 times over. Eight-hundred thousand million dollars.
The richest 35 people in America have more wealth than the bottom 50%. 35 people vs 150,000,000 people. How many houses, yachts, private jets and private islands does one person need and how many will it take for normal people to realize no one should have so much when so many have so little?
People work an entire year of their lives breaking their backs to make $50,000 a year just to get by. While someone with $1 million dollars in the stock market makes more money just by having money in the first place.
The national debt is ballooning. Taxes will have to be raised and spending cut, otherwise the country will go bankrupt and the economy will collapse. They want to tax the people that are barely able to afford to live and give more tax cuts for billionaires. The same billionaires that are above the law, who already own the politicians. They need more help? How much is enough? It will never be enough for them.
Capitalism the best system, but it needs guardrails. I am not calling for socialism, just a more balanced and fair capitalism. Large multinational conglomerates own huge parts of the economy. Every industry is becoming more and more consolidated. Consolidation can be good to save costs and bring down costs, but over consolidation leads to monopolistic practices and less competition which is worse for consumers. Companies aren’t happy with making a lot of money, they have to make as much as possible. They make products worse over time and try to extract as much money as possible. We need oversight to ensure a healthy balance.
We need to support local businesses so that money stays in the community and will be reinvested here. Smaller local companies can’t compete with huge corporations, so they close and then all that money is being taken out of Missouri. They pay local workers as little as possible and take all the profits, this leaves Missouri poorer and the large corporation owners more wealthy. We need to make it easier for small businesses to compete and ensure strong unions.
The issue isn’t only that someone is able to accumulate large amounts of wealth, but what can be done with that amount of money. That money is used to buy politicians, influence legislation and elections. Control the food supply, the media, our healthcare and now they are coming for your children’s education.