alt Hacker NewsPeople should realise that they will be the ones paying for it. Prices will increase a lot. People need to be aware of that. Personally I'm okay with that trade-off. Also corporations - when checks and balances work properly, which is frequently not the case unfortunately - are great and net benefit for humanity.
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Prices are already obscene, and we’re all being ripped off.
I’d much rather pay the prices corrected-for-supporting-livelihoods, than the artificially inflated prices used to line the pockets of the rich.
>> Prices will increase a lot.
Citation needed. Very little of what we buy today as a consumer are commodities whose price is determined primarily by the cost of production — and even then labor costs are rarely the most significant cost.
Most things we buy are priced according to what the consumer is willing to pay for it, and the balance sheet of the companies that sell most of the things we buy show there’s a lot of wiggle room there.
I wonder what would happen to costs if we had a 90%+ tax rate on the ultra wealthy... maybe if all these record profits were instead funneled back into society everyone would be better off AND prices would drop... a system like this would be good for society it seems... we should come up with a good name for that system, tho...