The same people who can bankrupt businesses, destroy jobs, and regulate entire industries into the ground somehow expect us to believe they can centrally manage wealth better than the people who created it in the first place.
Someone creates companies, products, jobs, industries, rockets, satellites, payment systems, and electric vehicles used by millions of people, and her response is "he has more than me, take it."
No discussion of incentives. No discussion of capital formation. No discussion of what happens when governments start taxing unrealized wealth. No curiosity about the consequences. Just the eternal politics of "gimme."
Economic illiteracy wrapped in moral self-righteousness remains economic illiteracy. Every time.
Elon Musk just became the world's first trillionaire.
The typical American household would have to work more than 11 MILLION years to make Elon Musk's level of wealth.
We need a wealth tax.