James GleickI’m seeing lots of schadenfreude about the guy “losing” $200 billion. It benefits no one. A better way would be to tax the megabillionaires fairly: i.e., returning the bulk of their wealth to the society that made them rich in the first place.
People sometimes forget: After a certain point (let’s say, oh, a hundred milion dollars), the extra wealth is no longer about buying more stuff or living better. It’s about power. Musk buying Twitter is a case in point.
Attorney Wonderer@JamesGleick I would add that by not progressively taxing excess wealth, as this country once did, the power that accompanies the wealth is retained by the few rather than being transferred back to the democracy—even though the companies generating the excess wealth are dependent upon the laws, structures, and people of the country to generate the wealth (hello Amazon). It’s democracy supporting capitalism, and capitalism, in turn, devouring democracy. It is not sustainable.