Revolt Against the Rich
“I have a visceral, emotion reaction to inequality, I replied. It sickens me that some Americans have billions while others barely have enough to eat. An economist derided my attitude as typical left-wing irrationality. Inequality isn’t the problem, he said, poverty is the problem, and we shouldn’t try to solve it by taking more from the rich. I felt chastened. But a flurry of recent articles—with headlines like ‘Abolish Billionaires’ and ‘The Economics of Soaking the Rich’—argues that we should be appalled by the immense gap between the poor and rich. The proliferation of billionaires shows that capitalism is malfunctioning and in need of reforms, including higher taxes on the ultra-wealthy.”