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Hey tech billionaires, if you want to talk about radical change, let’s abolish venture capitalism (www.theguardian.com)

submitted 1 year ago by JRepin@lemmy.ml to c/technology@lemmy.world

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Do you support sustainability, social responsibility, tech ethics, or trust and safety? Congratulations, you’re an enemy of progress. That’s according to the venture capitalist Marc Andreessen.

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[–] ericisshort@lemmy.world 9 points 1 year ago (1 children)

Not sure how you got multiple solutions out of my comment. I was suggesting instituting a wealth tax (rather than an income tax), which is literally seizing their property and wealth, so I think we are in agreement here that such a solution would be the only way it works. However, I don’t think it should be a fixed monetary limit, rather one that changes based on economic indicators.

[–] trafguy@midwest.social 5 points 1 year ago (2 children)

We honestly should just replace every single fixed dollar amount in every law with an algebraic formula. It's ridiculous that we design laws to become dated and require replacement.

Minimum wage should be tied to worker productivity, and wealth tax should be tied to the median personal income, including that of non-working adults. Welfare programs should be tied to regional cost of living. Limits on rent should be tied to changes in regional median income.

We're already tracking most or all of that data anyway, might as well put it to maximum use.

[–] jjjalljs@ttrpg.network 4 points 1 year ago

Fines should scale with wealth. If a billionaire gets a parking ticket, the fine should be tens of thousands of dollars.

Fun side effect is this might encourage the cops to bother the wealthy instead, which might lead to police reform.

[–] ericisshort@lemmy.world 4 points 1 year ago

Agreed, and it’s not a novel idea. At least a few smarter countries already create policies that periodically update according to a formula.