Ya maybe, if you could stop investment from fleeing Canada; only because it would drastically raise inflation and interest rates, which would make mortgages far more expensive. Of course anyone with a large mortgage would be made poorer.

[–] liuther9@lemmy.world 1 points 4 days ago (1 children)

Yeah you are right, forgot about price ceiling part. Gov should be regulating lots of things compared to the situation now. Though infinite wealth cap is the main solution. It is like joining an online game 1 lvl where many players are 1000000+ lvl. The system itself is unfair and we need 100 lvl max

[–] maplesaga@lemmy.world 0 points 4 days ago* (last edited 4 days ago) (1 children)

Well I'd just ask does the aggregation of nominal wealth affect you in any way. If Bill Gates has 800b dollars does that hurt you, is that money being taken from somebody else, even when the money supply grows at 8% because Bill Gates and other rich people dont spend any of it so inflation doesnt rise?

[–] liuther9@lemmy.world 1 points 4 days ago (1 children)

Yes? Redistribution, creating more jobs, social programs, positive effect on mental health. Inflation on what? Lets say meat becomes super expensive. Shop wont be able to extract all this wealth if progressive taxes eats it up then again distribute that and create med facilities, spend that on rnd, education. List goes on.

[–] maplesaga@lemmy.world 1 points 4 days ago* (last edited 4 days ago) (1 children)

How do you think that would effect the economy. Assuming you liquidated Elon Musks Tesla stock it clearly will devalue Tesla stock as more stocks are sold off to fund consumption, which will deflate risky growth stocks far faster than consumer staple. Why would anyone then invest in AI, or Tesla, or anything risky that generates additional profit?

[–] liuther9@lemmy.world 1 points 3 days ago (1 children)

Maybe that wouldve prevented ai job disruption, ai bubble, building useless data centers that skyrocket climate change and at the end hiring drivers from philippines and call that AI self drive taxi

[–] maplesaga@lemmy.world 0 points 3 days ago

Well it just would be done elsewhere I think, and you'd be stuck doing low skilled labor as a society.