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.
I recommend the episode of Recess where they use monstickers as currency. In this episode, TJ finds ways to amass all the monstickers and make everyone else destitute. It occurred to me while watching the episode that all the other kids have to do is stop requiring each other to pay for stuff with monstickers, since nobody has them anymore. And then it occurred to me, why can’t we do that in real life? Why can’t society just collectively realize this whole money thing doesn’t work if a few people are hoarding it all and just come up with a new system? Instead people are being deprived of basic needs because of this stupid imaginary system
Because the people with the money also control the physical goods, how are you going to acquire food and shelter without money? and then while you may accept small amounts of bartering you will need some amount of money to continue purchasing food and shelter
It’s a tad worse than that. They also control all the debt. You can’t invent a new currency and use it to pay a mortgage, car payment, student loans, credit cards, etc.
Well, at least not before it develops value that those institutions will recognize. I can’t say that Bitcoin made that leap, but it can be readily exchanged for other currencies these days so maybe there’s hope.