alt Hacker Newseach technological advance increases wealth inequality. Problem is not wealth inequality its things getting worse for ppl low on totem pole vs getting better. I am sure ppl wouldnt mind inequlity if things were getting cheaper, healthcare being more accesible ect. Thats what AI promised but never delivered. Nothing has gotten cheaper like predicted.
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No, it’s definitely the insane amounts of inequality we have today. The inequality is why there is less money flowing through the economy, why folks with incredible amounts of wealth can buy media outlets and attempt to buy elections to further their interests to hinder attempts to make things cheaper for average people. The inequality gives them their power, it’s the whole point.
Maybe raising the minimum wage was never a good idea and we should instead consider a wage cap that taxes heavily those that make above some insane figure everyone should be happy with... $10m a year? That seems generous enough for now until someone turns the money printer back on.
People don’t mind mild inequality. Some people have more, that’s fine. When it’s extreme it’s a problem. 100% we need to make sure everyone is taken care of before we worry about if someone can have even more money than they will ever need.