re: #161 Belafon

I think a capital gains tax, and a transaction tax, would be a great way to fix the stock market and it’s relationship with us. But when you’re worth $50B, you’re money is earning money just by existing, money that really does represent someone else’s labor. And we strangle the economy by sitting on it.

The other option is to drive inflation up - by printing money - to drive down the net worth of the money people don’t spend.

To some extent I think we worry too much about billionaires. There are somewhere around 600 of them in the US. I think the wheels of commerce will turn more smoothly with a broad based but progressive tax system