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by hahahaa
2 days ago
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You could ban stock market trading but the market itself is a very useful vehicle for investment and has democratized wealth and retirement planning to some extent. How to ban trading? You could heavily addon tax profits from short term trading under 3 months at 90% say, tapering to zero as time increases maybe 2 years. With zero ability to offset any losses with other tax forms. Shorts, options et. included unless it can be proven as part of a bigger trade or insurance but then apply to bigger trade. This could also apply to market makers making that closer to a public service. |
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Now we have a small number of extremely influential people who are essentially bribing and propagandizing the masses into voting them more money... Each win gives them even more money to buy even more votes at the next election.
Politicians change but the people behind them keep accumulating more wealth.
Democratization of wealth creates massive capital centralization which creates anti-competitive dynamics; the monetary playing field is itself inherently anti-competitive by design.
I often give the example of a skilled coffee shop owner having to compete with a coffee shop 'pet project' of a multimillionaire passive investor who is running their shop at a loss... The person without passive income cannot win no matter how much better they are.
Now extend this metaphor to every aspect of the economy. There will be two kinds of businesses remaining; monopolistic megacorps receiving government handouts and small businesses which would all be some millionaire shareholder's unprofitable pet project.
Also, the biggest shareholders of various companies are using their leverage to find anti-competitive synergies between companies in their portfolios and coercing the executives of certain companies into favoring specific suppliers and clients on that basis.