If all the money ends up in hands of billionaires and their corporations and there will be no money in hands of regular plebs…
Who do you think will have to pay the taxes?
Also, the people would figure out a different way of trading or currency. And with that one getting taxed, all the billionaire’s money become worthless.
You are presuming that the economic-configuration would be the same…
That isn’t correct.
The Deep South’s slaves weren’t allowed any economic-autonomy, were they?
We’d be mere-property. mere-slaves, no rights, & just mowing-us-down-with-bullets if we protested, if it got far enough.
You know, the way communist dictators mow-down their own farmers/food-producers ( Stalin ), or their own intelligentsia ( Mao ), or the way fascist dictators mow-down the woke.
Most currence is mere-leverage, & with that-fake an economy, they can certainly come-up-with something that locks us out.
Trumpcoin, e.g: either you use trumpcoin XOR you’re ICE’d, if you see what I mean…
If they have to manufacture criminality, in order to “justify” some more “enforcement”, well, for bullies, that’s called entertainment, right?
the economic-phase/paradigm we’re currently-in is only 1 phase of many.
The barter-system the Indigenous peoples ( who hadn’t come-up-with a currency of any kind ) works, for low-intensity economies…
the “economy” that functioned in the nazi concentration-camps ( people traded for pieces-of-paper, or cigarettes, etc ), or in prisons, is an economy…
Underground-economy’s likely to be present in nearly-all economies, especially the ones rooted in class-based-validity…
( in the academic-class-system associating-with-an-important-name is a kind of “currency” )
The intent is total-segregation-of-privilege-&-power to them, from all-others.
Why should they care if the all-others part doesn’t work, or isn’t sustainable?
So long as it works until they die, … they won, right?
_ /\ _
This is where AI comes in too, a new hyper repressive economy will be much easier to enforce with killer robots that do whatever you tell them without question.
What you are describing sounds an awful lot like collapse to me. Your slavery South comparison is missing that a lot of what they produced was exported to places where at least officially slavery was banned. So that model is propped up in one location by areas with purchasing power from the general public elsewhere. The thought experiment was what if everywhere was the slavery South, in which case the economy will no longer be sustainable.