Joshua Byrd :mastodon: on Nostr: "There is something fundamentally wrong with a system where extreme wealth keeps ...

"There is something fundamentally wrong with a system where extreme wealth keeps skyrocketing while so many people are struggling to afford the basics."

If you have just 1 billion dollars of assets, even at a relatively low return of around 5 percent, you will be getting 50 million dollars of passive income each year, or almost a million dollars a week.

Now you can live like a king and it would still be hard to spend a million dollars every week, so what do you do? You invest that money into buying more assets. And who has those assets that you want to buy? The middle class, who is increasingly struggling to afford the basics.

And the cycle continues.

(Solution? Tax wealth not work.)

https://www.abc.net.au/news/2026-06-02/australia-has-most-billionaires-on-record-oxfam-analysis/106746904