and yet before you said this:seedload wrote:Not that I think this is a good idea!!!bcglorf wrote:So you see no problem with simply seizing $50 trillion or so worth of shares, selling them off and using the cash to pay off the national debt?seedload wrote: And I repeat, not that any of this is a good idea. I'm just sayin'...
Anyway, the video is disingenuous. It is trying to make the point that the rich don't have enough assets to cover even a year of our national budget. They do! The video is simply doing an accounting and ignoring 50 trillion of eatable rich people assets. None of Moore, the Video, or Me consider the logistics of actually doing the liquidation. Only Moore thinks its a good idea.
The other point the video tries to make is that if we did this, then corporations etc. would not exist any more, so what would we do next year. Well, the corporations would still be there, we would simply be transferring ownership, so again the video is flawed.
You can't liquidate $50 trillion of assets from seized corporations, spend it on the national debt, and still expect the corporations to be there, just under new ownership.
What too many people like Moore's audience and apparently yourself fail to grasp is that the $50 trillion of assets held by the wealthy is NOT just sitting there in cash or gold doing nothing. The one thing the wealthy are good at is ensuring their wealth is never idle and instead is continually growing.
Like it or not, that growth benefits those employed by the wealthy. More importantly, annihilating that growth and replacing it with a $50 trillion loss WILL have dire consequences on not only the rich, but on those in any way shape or form working for them. Anyone working for companies from Shell to Microsoft to Walmart can all say hello to unemployment.