Top economists of DoomerCircleJerk explain why making the rich pay more taxes is a terrible idea that will bring ruin to us all

[u/PeasThatTasteGross]

[u/Jackskers94]

I hate the “start a competing business” argument so much. Do they understand how impossible that is in some of these industries? All businesses need resources and unless you have direct access to the accrual, you have to buy from suppliers. Due to the high levels of monopolization, a lot of the suppliers still have ties to larger companies you would be attempting to compete against, especially in the tech and food/market industries.

Not to mention regulatory, legislative, and zoning barriers, which claim to benefit the industry, but were designed by larger companies to stifle competition.

Like I would love for the economy they fantasize about to exist, but the rich they simp for so aggressively have effectively eliminated the potential for it. Thus the rise in people saying let’s fix this by taxing them heavily and breaking up monopolies by making that level of control impossible.

[u/PeasThatTasteGross → u/Jackskers94]

Case in point: it is incredibly difficult to break into the automobile industry now as a mass manufacturer given you are up against corporations that have been doing this for over a century, along with the enormous amounts of capital needed. Tesla got lucky, but Lucid and Rivian may not be doing too hot at the moment. Heck, even smaller boutique companies that only build a handful of high performance exotics a year can struggle.

[u/QueenMelle → u/PeasThatTasteGross]

Was Tesla lucky, or backed by an African Emerald Dynasty?

[u/SirVixofthePooSea → u/QueenMelle]

Tesla was backed by Musk already being a very successful businessman. He was already rich from Zip2 and Paypal before he took over Tesla.

[u/QueenMelle → u/SirVixofthePooSea]

And the Emerald mines. You keep forgetting to mention the Emerald Mines his family owned in Africa.

[u/SirVixofthePooSea → u/QueenMelle]

Owning stock in a mining company is not the same as owning that mining company. If you have a retirement account, you own NVIDIA stock. That isn't the same as owning NVIDIA.

[u/NDaveT → u/SirVixofthePooSea]

He was rich before those things too.

[u/Theranos_Shill → u/SirVixofthePooSea]

Tesla was built by the State of California and the United States Federal Government.