What do you think about this argument?

@zonavar68 There’s no need for billionaires. That’s an unbelievable amount of money, more money than a person can spend in one lifetime. Tons of money that goes to billionaires is simply getting sucked out of the economy to just sit in a bank or offshore account for ages doing nothing but making prices go up for everyone else. The other terrible thing about billionaires is that, thanks to decisions like Citizens United, they buy political candidates and other forms of government influence, which then leads to them getting bigger tax breaks and accumulating money even faster. It’s called the Wealth Pump, and it’s creating the crisis our democracy is currently facing.

I feel like any conservative would poopoo that argument on the grounds that, “I earned it, so it’s rightfully mine!”

@zonavar68 How does a person lose money in order for an achiever to get rich? Name the people who lost in order for Donald Trump to single handedly create that $8 billion international real estate empire.

@Reason10 Because in order for person A to gain $100, either one person (or more people cumulatively) has to lose $100. This is what fees/charges associated with 'flows' of money are all about. It's a key reason why the elite wants to eradicate cash, as cash use generates no fees/charges when money changes hands.

@zonavar68 Because in order for person A to gain $100, either one person (or more people cumulatively) has to lose $100.

Uh, WRONG.

That's a moronic ZERO SUM argument and doesn't apply in any actual reality situation today, (nor has it EVER applied in the past.)

Ever heard of EARNING ONE'S MONEY? Donald Trump worked 18 hour days ever since graduating from the Wharton School Of Finance (which makes Harvard Business look like a community college.) He EARNED that money. Nobody LOST anything so he could EARN it.

Name the elite who wants to get rid of cash.

Yeah, I know. Democrats deliberately destroy the value of cash by flooding the dollar market with WELFARE bucks to buy off stupid voters. That is called INFLATION. The LAST thing the KKKrats want is to get rid of cash.

Name a Republican who wants to get rid of cash.

@Reason10 look at the guy who inveted the bic lighter, still making money

@Reason10
So, you're saying that no one wants to get rid of cash.

@Diotrephes Klaus Schwab and his personal eliteness enterprise the World Economic Forum wants to get rid of traditional currency systems (which include cash) and push countries into fully-electronic CBDC's.

@Reason10 Trump has declared corporate bankruptcy on six occasions to avoid paying billions of dollars of debt. Thousands of creditors have lost the shirts off their backs to fund his "success".

@SunshineGirl For a person to make $100 there has to be a collective (or single) $100 loss somewhere else. Doesn't have to be direct but can be indirect. ie. when a business pays an employee, that's a loss to the business, then the employee gets taxed (a loss), pays bills (more losses), and has discretionary spending (more losses). Those losses 'flow' to different entities but they all stem from the employer incuring a loss to pass the person's wages. The employer has to make a profit (more gains than losses) to stay solvent in order to pay those wages.

Capitalism is entirely focused on gains outweighing losses to become rich. A lot of gains are 'implied' (ie property value increases being a big one) so that 'creates' more 'fiat wealth' that really doesn't exist, because money is not real and it's just a 'vehicle' for value exchange.

@zonavar68 You don't understand

how money is created

the money multiplier

basic transactions

@SomeMichGuy Exactly. Money is 'fake' because it's all 'fiat' currency that doesn't really exist except as an artificial number.

If today the world decided that a US $ was no longer worth a full dollar but only 99.99 cents the US economy would collapse almost immediately.

Also, every additional unit of a currency that is 'created' de-values all other units of that currency across the board.

@zonavar68 Money isn't a zero-sum game.

When you get paid $100, it isn't a loss to the company, it was a bargained-for transaction, but more importantly, if you get paid on Jan. 1, and you spend that $100 partly on housing, partly on food, partly on communication and transportation, THOSE dollars are respent by employees at THOSE companies and cycle through the economy through the whole year, creating more spending.

The devaluation to which you are referring is only if there is a fixed asset behind the currency. The problem with the US is that the ppl with money have gone along with allowing DJT to be Pres TWICE, which has destroyed our international reputation, as HE has shown EVERY nation that

"the full faith and credit of the United States"

means NOTHING, because we have shown ourselves to be faithless, and the very open financial takeover of the country by the super-rich is bankrupting us.

We are screwed.