AI isn’t just coming for entry-level workers. Google CEO Sundar Pichai says no job, not even his own, is safe. But those who don’t adapt will be the first to fall.
That’s not a good idea, mainly because how billionaires’ wealth works - it’s not in cash but split between various investments, including real estate and other property. Do you suggest we just burn their supercars, their villas, their stocks, their Rolexes?
It’s not a bank account you can set to 0. What they have as available cash is at most 10% of their wealth, but usually under 1%, since cash is riskier than other investments.
Hell, the reason we’re having trouble taxing the rich is because they use weird loopholes that aren’t available to anyone else - such as taking low interest large lump sum loans backed by their assets/investments, which is tax-free, then defaulting on said loan or writing it off, transferring the backing asset to the loan giver, also tax free… Meanwhile you or me? We’re stuck with cashing out our investments which is an immediately taxable event. Good luck convincing a bank to give you a 0.25% loan of £5000 against your £6000 investment portfolio.
That’s not a good idea, mainly because how billionaires’ wealth works - it’s not in cash but split between various investments, including real estate and other property. Do you suggest we just burn their supercars, their villas, their stocks, their Rolexes?
It’s not a bank account you can set to 0. What they have as available cash is at most 10% of their wealth, but usually under 1%, since cash is riskier than other investments.
Hell, the reason we’re having trouble taxing the rich is because they use weird loopholes that aren’t available to anyone else - such as taking low interest large lump sum loans backed by their assets/investments, which is tax-free, then defaulting on said loan or writing it off, transferring the backing asset to the loan giver, also tax free… Meanwhile you or me? We’re stuck with cashing out our investments which is an immediately taxable event. Good luck convincing a bank to give you a 0.25% loan of £5000 against your £6000 investment portfolio.