> and vague populist "we'll just tax X" won't fix it
The richest people and biggest corporations own such an unimaginably large amount of wealth that taxing them would fix just about anything.
In 2017, Apple's cash reserves were $250 billion. That's just a single company, hoarding reserves that could clear the national debt of most countries. Think about that for a second.
There is absolutely no shortage of wealth in the world. There is easily enough to pay all the pensions, including far into the future, even considering demographic change.
But of course, if governments are OK with allowing corporations to act like sovereign countries, raising the retirement age can seem like a reasonable alternative to moving all that wealth to where it actually belongs.
The richest people and biggest corporations own such an unimaginably large amount of wealth that taxing them would fix just about anything.
In 2017, Apple's cash reserves were $250 billion. That's just a single company, hoarding reserves that could clear the national debt of most countries. Think about that for a second.
There is absolutely no shortage of wealth in the world. There is easily enough to pay all the pensions, including far into the future, even considering demographic change.
But of course, if governments are OK with allowing corporations to act like sovereign countries, raising the retirement age can seem like a reasonable alternative to moving all that wealth to where it actually belongs.