Fun fact: when you deposit money in the bank, that is actually a loan to the bank. The bank owes you money now. That's literally true, and that's why your bank statement lists your deposits as "credits". Credit is debt, which is why your Visa is called a credit card.
Therefore, when the big banks almost went bankrupt in 2008 because they gambled with your money, they were borrowing money and spending it irresponsibly. Exactly the same thing students are accused of doing,
What do you think the minimum standard of living in a wealthy nation should be? I'm thinking that the absolute baseline should be a small apartment, basic clothing, and basic groceries. Every single person should live at that level or above. And if a few billionaires have to lose their 17th mansion and 3rd private jet to pay for this, then so be it.
Until such time as robotic servants are capable of doing everything a human can do, the luxury of the very rich will always require the misery of the poor.
That's because the very rich want to be waited on hand and foot, and nobody would wait on another person hand and foot unless he really needed the money. The servant must fear poverty so much that he would rather debase himself to obsequiously serve an imperious overlord.