These are staggering, obscene levels of accumulated wealth. My biggest problem with this isn’t some vague notion of “inequality”. The real problem is the concentration of (political) power. This is making our democracy all but obsolete. Robert Reich notes that the average American would have to work 800,000 years to earn as much as Elon Musk made in one day this year, all of it untaxable. How are we any different from post-Soviet Russia and their “oligarchs”? Is this really where we want to be as a country? BTW, my solution isn’t to target “the billionaires”, but to fix the tax system that allowed this to happen. If you want to claw back gains made during the previous era, that is a totally different problem.

The billionaires are angry