Boom time for US billionaires: why the system perpetuates wealth inequality
As the super rich grow even richer, inequality expert Chuck Collins says the system is broken – but it can be fixed
Without having read the piece yet I’m going to go out on a limb and suggest that he might be an expert in why inequality is a bad thing…..
“[The wealthy] have bought their jets, they’ve bought their multiple houses and mansions, but now they’re buying senators and media outlets,” Collins told the Guardian in an interview. “We’re now entering this other chapter of hyper-extraction where the wealthy are preying on the system of inequality.”
My word, how did I guess?
he is a member of the Patriotic Millionaires
Surprise!
“It’s the distinction between individual behaviors and a system of rules and policies,” Collins said. “We should be concerned about an economic system that funnels so much wealth upward to the billionaires.”
Ah, a twat then. Because the distinguishing feature of this capitalist free marketry is that you get rich by producing value for consumers. And if you’re not going to count that richness going to consumers then you’re going to get everything wrong, aren’t you?
the obvious solve to his main concern – stop them from “buying senstors and media outlets”
is to remove almost all of the power of the government, and allow freedom of speech.
I suspect he would want more regulation and government control though.
Have any of the ‘patriotic millionaires’ started tax at the level they claim is necessary?
“now they’re buying senators and media outlets”; aye, just as they always have.
How can he be so dim as to say “now”?
Elon reputedly has $500Bn. If he doubled his inequality vs me by getting to a trillion, what difference would it make to me? Somewhere between a benefit taken from whatever he had to sell and nowt. I’m not worried by inequality. Nobody should be.
“But, but, somebody in the world has more than I do – it’s not fair!”
Vote Labour.
We are somewhat protected by transparency about who owns media outlets. Maybe we need the same transparency over who owns the senators (or NGOs, or governments)
Gates and Soros, in the main. I was always amused by how outraged lefties were by the Koch and Barclay brothers, but studiously ignored these other two. And Dale Vince. I could go on. Good People™, see.
“but now they’re buying senators and media outlets”
Buying media outlets today is like buying a racehorse or getting on the board of the Met Opera. There is no power, no profits. If you’re shit, people can just spin up a rival.
Whats the betting that Chucky boy is demanding new taxes on millionaires just above the level of wealth he has?
‘I have to fly on scheduled flights, they get to have private jets. Its not faaaaiiirrr!!!!’