this post was submitted on 11 Jul 2024
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I'm not ignoring anything. Commodities trend towards being sold at their Value, and since Value comes from Labor and Natural Resources, Capitalists necessarily pay Workers less than the Value they create. Ie, if a Worker creates $500 in Value per day yet is paid 15 dollars an hour for their 10 hours, this means they have made $350 in Value purely for the Capitalist. With their 50 dollars in Value per Hour created, they cover their wages in a mere 3 hours, rather than 10. The excess 7 is "hidden" from the Worker, via calling the 15 dollars per hour a wage, despite it being purely for the Capitalist.
A similar process can be seen in Feudalism, though it was more distinct. In Feudalism, serfs covered rent, then produced for themselves. They were able to clearly see what has been taken. Capitalism advanced on this concept to obscure exploitation through the idea of wages, yet still they take profit via paying Workers less than the Value they create.
I recommend reading Wage Labor and Capital and following it up with Value, Price and Profit if you want further elaboration and proof of said concepts, and have a couple hours to spare.
I'm talking about a separate issue! Even if rich people don't exist anymore, something that takes 500h work hours to accomplish will still take 500h to accomplish, you won't suddenly have to work less.
You are not talking about a separate issue.
Going off my example from earlier, the Workers would only need to work 3 hours to maintain their standard of living, the extra 7 hours are pocketed by the Capitalist for their enrichment alone.
Removing the wealth siphons reduces the amount of necessary work, as if you only need 3 hours to cover yourself without a Capitalist involved, you only need to work 3 hours.
Society overproduces vast amounts of goods and works far longer than necessary purely for Capitalist enrichment, not to cover themselves.