Ive often seen individuals on the left talking about how billionares shouldnt exist etc., but when probed on how that could be accomplished the answer is usually just taxes or guillotines. I dont think either is great.
What if instead, corporations were made to be unable to be sold or owned. Initially theyre made to default to popular election for their board, and after that they can set up a charter or adopt a standard one, ratified by majority vote of their employees.
Bank collapse would probably follow, how could that be remedied? Maybe match the banks invalidated stocks with bonds?
I dont think taxing them will accomplish much. its also trivial for corporations to evade taxes, and all of the big ones do.
I think the ease of raising money is part of the problem. Loads of tech companies way over-raise, and develop into bloated cancerous messes that have no way of ever realizing the growth that would have to exist to warrant the investment theyve been given.
In the first place, the only way their investors even expect make anything back would be by reselling the stock, making it a ponzi asset.
The entire system is just propped up by peoples 401ks being funneled to institutional investors. Its inherently unstable.
Make social security good enough that middle class citizens dont need to invest, and the overinflated value of stocks plummets back to earth.