Comment Re:We COULD get by working 10-20 hours a week (Score 1) 729
No, the problem is loans.
The problem is, that 1%-ers have access to means of amassing wealth ordinary mortals don't have.
- they can afford to hire herds of lawyers and accountants to dodge taxes.
- they can afford to set up schemes where they pay themselves in equity or options so that they only pay capital gains tax instead of income tax. Or better still, offshore their revenues altogether to tax havens. Set up fake charities.
- they can afford to lobby legislation to bend rules in their favor.
- due to their wealth and connections they are essentially immune from prosecution. OK maybe not the top 1%, but the 0.1% certainly is.
The root problem is not loans, the problem is the uneven playing field. Then of course this has been the situation forever throughout human history: the number one priority of the ruling class is that they remain the ruling class. These days they are doing it better than ever under the disguise of 'democracy'.