People should realise that they will be the ones paying for it. Prices will increase a lot. People need to be aware of that. Personally I'm okay with that trade-off. Also corporations - when checks and balances work properly, which is frequently not the case unfortunately - are great and net benefit for humanity.

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runtime_terror an hour ago | parent | next [-]

I wonder what would happen to costs if we had a 90%+ tax rate on the ultra wealthy... maybe if all these record profits were instead funneled back into society everyone would be better off AND prices would drop... a system like this would be good for society it seems... we should come up with a good name for that system, tho...

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azan_ 27 minutes ago | parent [-]

I think its pretty naive to thing that it'd work this way. It's really bad idea. If someone has company that debuts on stock market, and stock price increases let's say 100x times, who is he funneling the funds from? I'd say it's not funneling but creation of wealth, economy is not zero-sum game.

	▲	thfuran 10 minutes ago \| parent [-]
		If someone has a company doing an IPO, it’s extremely unlikely that the company was so small that one person did all the work. Why is it a given that one person should retain nearly all of the proceeds of the sale? To answer your question, that person is funneling funds from investors who are expecting returns derived from the labor provided by the undercompensated employees.

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nonfamous an hour ago | parent | prev [-]

>> Prices will increase a lot.

Citation needed. Very little of what we buy today as a consumer are commodities whose price is determined primarily by the cost of production — and even then labor costs are rarely the most significant cost.

Most things we buy are priced according to what the consumer is willing to pay for it, and the balance sheet of the companies that sell most of the things we buy show there’s a lot of wiggle room there.

	▲	azan_ 29 minutes ago \| parent [-]
		> Citation needed. Very little of what we buy today as a consumer are commodities whose price is determined primarily by the cost of production — and even then labor costs are rarely the most significant cost. Services and goods where lots of human labor is required get much more expensive with larger cost of labor. E.g. fast-food, food delivery. And there's nothing wrong with that of course - I'd rather pay 2x more for delivery than have people working on wages that are not enough to even feed them.