I was once talking with one of my classmates and he said that in the future, there will be universal basic income implemented by entire world. I was not convinced at that time and thought he is just being stupid but given the layoffs happening and massive amount of unemployment, I am thinking about this possibility. What do you say?
So I think the issue here is you fundamentally misunderstand the level of wealth that the ownership class owns.
Sure, plenty of people doing this get wiped during economic recessions, because much like crypto bros, they’re gamblers with delusions of grandeur. The people that are the problem didn’t get wiped, they got government bailouts.
Edit: and even if they are getting wiped, my point still stands: they aren’t paying taxes.