zlacker

If only there was some historical data, maybe even 30 years of it, that could tell us whether or not putting money in the hands of the ultra wealthy had a sort of “trickle down” effect that benefited everyone else too!

>>only-o+(OP)
Fine, but is there any data that having ultra wealthy residents in your country(like Sunak's wife) harms everyone else?

>>shivas+41
Real estate inflation is a pretty obvious way it does that.

>>only-o+(OP)
> putting money in the hands of the ultra wealthy

that’s a very sinister way to describe the reward for their extraordinary efforts. who’s putting money in their hands? where did this ‘who’ get the money from?

>>shivas+41
The GP is being sarcastic, we have 30 years of evidence.

It shows that trickle down economics doesn't happen.

The harm you're looking for is massively inflated asset prices, for example pushing housing out of the affordable range of normal residents and the actual tax payers.

So the mega rich turn out to be parasites in many ways.

>>yawboa+h2
what are these 'extraordinary efforts'?

>>mattma+t2
Also, more than once, the mega rich caused my meat to spoil. Terrible people!

>>yawboa+h2
> who’s putting money in their hands

If we're talking about foreign oligarchs living in London, I suspect a fair amount of the money is coming from Russian organized crime.

>>holler+A2
I know you think you’re joking but I’d encourage you to consider the consequences of deregulating the food industry.

>>slater+z2
if the wealth isn’t inherited then it obviously requires extraordinary effort to amass. i’m not a billionaire and it’s not from a lack of trying to be. the fact that my efforts over the years—which are non-trivial btw—haven’t made me one is a clear signal.

starting and running a successful business is extraordinary effort. my life is better thanks to founders of all the companies whose good and services i depend on. i’m full of gratitude for their extraordinary efforts because they’ve made life worth living.