That sounds like a cat and mouse game. You make a rule that person A can’t be on the stock market for 5 years. This does two things. First, it causes rich people to find some loophole or exploit.
And second, it just disincentivizes them from using the stock market at all, in favor of some unregulated form of making money. Like crypto.
Now you could say “Well then we’ll place caps on how much you can trsnsfer crypto over to american currency”.
And now you’re in a cat and mouse game. Because now they just need to convert it to some foreign currency. Then convert the foreign currency to American currency.
See? Cat and mouse.
See, this idea thread is putting up fences to seperate the corrupt from illicit gains. You build a fence, they bring a ladder. You build a bigger fence, they bring a bigger ladder. You build a wall, they install a window. The incentive is always there to overcome the barrier.
Instead, we should be finding ways to make bringing a bigger ladder cost more than the gains. Rewrite the whole system so that all people benefit before the greedy have a chance to hoard it all.
Regulate every system. Regulate every persons finances. If they cheat the system, make them pay twice the gains they got. Then distribute those fines to fund education and poor neighborhoods.
Suddenly you don’t need to worry about how big their ladder is, because the juice isn’t worth the squeeze.
That sounds like a cat and mouse game. You make a rule that person A can’t be on the stock market for 5 years. This does two things. First, it causes rich people to find some loophole or exploit.
And second, it just disincentivizes them from using the stock market at all, in favor of some unregulated form of making money. Like crypto.
Now you could say “Well then we’ll place caps on how much you can trsnsfer crypto over to american currency”.
And now you’re in a cat and mouse game. Because now they just need to convert it to some foreign currency. Then convert the foreign currency to American currency.
See? Cat and mouse.
See, this idea thread is putting up fences to seperate the corrupt from illicit gains. You build a fence, they bring a ladder. You build a bigger fence, they bring a bigger ladder. You build a wall, they install a window. The incentive is always there to overcome the barrier.
Instead, we should be finding ways to make bringing a bigger ladder cost more than the gains. Rewrite the whole system so that all people benefit before the greedy have a chance to hoard it all.
Regulate every system. Regulate every persons finances. If they cheat the system, make them pay twice the gains they got. Then distribute those fines to fund education and poor neighborhoods.
Suddenly you don’t need to worry about how big their ladder is, because the juice isn’t worth the squeeze.