Re:Reddit's GameStop, AMC surge is the new Occupy movement
by monoideism on Friday January 29, 2021 @03:30PM
(#25962039)
To be clear, I agree that by itself, a single stock won't make any systematic difference. I was explaining what the parent was claiming.
Regarding your proposed solution, I fear that thanks in part to Citizens United, the wealthy and powerful have such a strong hold on our government, that any increased taxes will only be funneled back to them through corruption, regulatory capture, and big gov contracts.
Ideally, a large wealth tax on the super-wealthy would simply result in a "citizen's dividend" where each of us would get X amount as a citizen. Using the benefits for government spending will just be used to build a larger federal apparatus that will be used against the middle and lower classes. This should be clear by now.
errr.... no? It won't. At all. How?
What will happen is that a few hedge funds will lose a bit, a few hedge funds will make a bit, lots of retail investors will lose a bit (maybe more than they can stomach, individually), and a few retail investors will make a lot.
For the middle and lower classes to receive fair compensation from the system, you need political action (and definitely not the "more tax cuts for the super rich" Trump type).