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Greed is sucking the global economy dry, how do we prevent it? (lemmy.world)

submitted 1 day ago by jaykrown@lemmy.world to c/justpost@lemmy.world

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The effects of money being funneled to the 1% is starting to dry up the real economy, store fronts closing, less people spending money, auto loan defaults increasing. How do we stop this from happening realistically together? Or is it inevitable that we enter another major global recession next year?

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[–] plyth@feddit.org 0 points 1 day ago* (last edited 1 day ago)

Maybe the elite is secretly protecting the environment by denying the population the money to spend on resources.

But to answer the question:

Introduce a wealth tax and finance a universal basic income.

That weeds out the incompetent billionaires and gives everybody the space to try to become a competent one on their own.