Billionaires lost $1.9 trillion in 2022. Elon Musk lost $115 billion. Jeff Bezos lost $80 billion. Mark Zuckerberg lost $78 billion. None of this has any real consequence on their daily lives. Hoarding wealth like this is grotesque.
@RBReich Once we have UBI, we should have a $100 million cap on individual net worth to prevent wealth from being hoarded and to maximize efficiency.
@RBReich @whitecrow43 where does it go? they seem to generate it out of thin air... and it evaporates into thin air... it's almost like it's all imaginary
@RBReich In an 1889 essay, steel magnate Andrew Carnegie told his fellow business leaders,”The man who dies thus rich dies disgraced." Carnegie believed that the wealthy should repay their debt to society. By his death in 1919 he had divested himself of more than 95% of his fortune.
@RBReich US FedGov squandered trillions, monetized massive amounts of gov't debt and triggered 40+ year record high inflation. People should be less concerned with private individuals and more concerned with gov't running massive deficits and devaluing money via the Federal Reserve.
@RBReich Their net worth goes up, people get mad. Their net worth goes down, people get mad.
@RBReich Why are you so jealous of what others make? Why do you not think you are in the 1%? I wonder if this is so that others that think like you, won't come after you. You always point them at others. At the top .01%. Why are Lefties so concerned with what others make? Do you own life.
@RBReich The “money” they made and lost has more to do with corruption and speculation on Wall Street than anything else.