Thorwegian (old account) on Nostr: one of the sad facts about life is that you could cut the salaries of all the top ...

one of the sad facts about life is that you could cut the salaries of all the top CEOs and politicians out there, and it would make very little difference to the finances of the companies and countries in question. the bulk of the economy is fuelled by the transactions of regular citizens.

another sad fact of life is that personal fortunes usually include assets that only exist on paper, such as company stocks. if the founder of a company actually wanted to access all of his wealth, he'd have to sell all his stocks, and would no longer be majority shareholder in it, thus losing control of what he created.

recently, after new wealth taxes were introduced in Norway, a bunch of rich people emigrated to Switzerland. they say they can't afford to pay these taxes without selling off their possessions, and since they wanna keep those, they're leaving instead. wealth taxes have the side effect of applying to any kind of wealth, whether it's real money or not.