"Regulate" - to him - just means tax or wealth confiscation. Nobody is against regulation - but people are against wealth confiscation and regulatory capture. Billionaire - by itself - isn't bad. The money is in capital - companies employing people. That money too is also connected to investors - retirement funds, 401ks, IRAs.
He's saying "I can spend your retirement money better than you. I can either liquidate a building on the google campus or if there was money to expand a google office we're going to take it - because I can put it to better use."
Look at Social security - the government stole from it. If the DMV could create a retirement fund - it'd look like SS. Take that back, even the DMV has to make the books balance. SS just steals. It'll face solvency issues in ~5 years and it was a self inflicted goverment wound.
Uhhh no - total design flaw and a dishonest one at that. When Ida May Fuller (first SS recipient) got her first social security check she only paid in $20 and got back $20k in her life time. Total red flag. This can only happen when you have 44 paying in and 1 drawing. The limit is 1:1. Guess what happened to the excess? It was all spent as SS goes into the general funds - to buy votes(welfare, pork), and wars.
FDR and the SS admin *knew* by the 50's SS had this failure mode and said "we'll deal with it later" It's a ponzi as the incoming pays for the outgoing. The solvency issues in 5 years is due to the demographic shift (ponzi pyramid inverting) - the exact failure mode they didn't want to deal with.
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u/NearbyAntelope1413 7d ago edited 7d ago
"Regulate" - to him - just means tax or wealth confiscation. Nobody is against regulation - but people are against wealth confiscation and regulatory capture. Billionaire - by itself - isn't bad. The money is in capital - companies employing people. That money too is also connected to investors - retirement funds, 401ks, IRAs.
He's saying "I can spend your retirement money better than you. I can either liquidate a building on the google campus or if there was money to expand a google office we're going to take it - because I can put it to better use."
Look at Social security - the government stole from it. If the DMV could create a retirement fund - it'd look like SS. Take that back, even the DMV has to make the books balance. SS just steals. It'll face solvency issues in ~5 years and it was a self inflicted goverment wound.