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Comment by cabaalis | Hacker News Reader

Maybe I'm a pessimist but I don't think it's as possible as you do. The money taken from billionaires/millionaires would eventually dry up. Also, with the incentive to acrue wealth removed, bank accounts are not a renewable resource. Simply too many mouths to feed worldwide.

Does that mean don't try anything? Of course not. Life isn't black and white. I don't believe involuntary taking from those who have to give to those who do not is a sustainable plan. Rather, somehow incentivize those who have to help voluntarily. My suggestion: more proliferation of employee-owned companies.

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I’m not sure if you’re replying to me, but I’m not advocating for taking money from millionaires and billionaires really. I mean that may be part of an effective strategy but I’m talking about building a world where regular people no longer have to work for billionaires whose pockets those working people are constantly filling via their labor. If the people worked for themselves in a collective model, there wouldn’t be a person at the top skimming all the wealth off the business.

I want to make billionaires obsolete.

Except that wealth is quite sticky in the modern world - when you have wealth it's trivial to retain and grow it, it is hard to acquire.

I'd prefer to see a silly non-sense good for parting fools from their wealth, like BMWs and Lambos or the custom cars that run up to a few million a luxury car is a great way to attach a big price tag, get the rich's money - and not deprive anyone of anything useful.

> Also, with the incentive to accrue wealth removed, bank accounts are not a renewable resource.

I don't think that people will stop trying to accrue wealth, it's more likely they will just do more to get around whatever regulations you propose. For example, Ireland and tech companies.

> The money taken from billionaires/millionaires would eventually dry up.

The Pareto principle remains. Wealth is measured. Ergo, there will always be people who maintain a network of wealth that far exceeds the norm.

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