Painting Gates as a monster is a diversion. The problem exists even if Bill Gates were a paladin of philanthropic perfection. We praise individual rich guys who might clean up some aspects of the mess made by rich guys in general. Every billionaire is a policy failure, no matter how well they spend their billions.
Your line about the personal travails of billionaires now being so impactful they must be read as policy news ought be a clanging alarm bells to any sane person. I have seen many people saying "well what does it matter? It's a personal issue!" Well, this is why. The lives of countless people are influenced by what happens with the Gates fortune. Not just employees, but the countries whose policies they bring enormous influence on.
I would go further than you, however, in the solution. We are not in so optimistic a state where mere taxation is enough. It would help, but it isn't enough. We are sliding back into the insanity of dynasticism. Nothing short of a cap on private assets and expropriation of anything above that cap begins to approach the root causes.
That is a good way to think of it. What kind of ROI has the public gotten for lavishing them with favorable tax codes, superior social status, near untouchability legally, and personal control of assets larger than many countries? Whenever we grant them power, they just use it to take more power.
It's time to soberly take stock and realize that the leeway we have given them has been abused.
Painting Gates as a monster is a diversion. The problem exists even if Bill Gates were a paladin of philanthropic perfection. We praise individual rich guys who might clean up some aspects of the mess made by rich guys in general. Every billionaire is a policy failure, no matter how well they spend their billions.
Your line about the personal travails of billionaires now being so impactful they must be read as policy news ought be a clanging alarm bells to any sane person. I have seen many people saying "well what does it matter? It's a personal issue!" Well, this is why. The lives of countless people are influenced by what happens with the Gates fortune. Not just employees, but the countries whose policies they bring enormous influence on.
I would go further than you, however, in the solution. We are not in so optimistic a state where mere taxation is enough. It would help, but it isn't enough. We are sliding back into the insanity of dynasticism. Nothing short of a cap on private assets and expropriation of anything above that cap begins to approach the root causes.
It does seem like money spent to keep people like Epstein at the top of the pyramid has been wasted.
That is a good way to think of it. What kind of ROI has the public gotten for lavishing them with favorable tax codes, superior social status, near untouchability legally, and personal control of assets larger than many countries? Whenever we grant them power, they just use it to take more power.
It's time to soberly take stock and realize that the leeway we have given them has been abused.