January 4, 2023
The Wealth / Power Cycle
Robert Reich keeps hammering away on the appalling degree of wealth and income inequality in this country. In his latest Facebook post, he notes that, “Three multibillionaires now own more wealth than the bottom half of America — 160 million Americans,” and adds, “Don’t tell us we can’t afford a wealth tax on the super-rich.”
The trouble is that economic power translates into political power; great economic power translates into great political power; great political power tilts the playing field in favor of those who wield it, further increasing their wealth, giving them more political power, enabling them to tilt the playing field even more, and so it proceeds. Any idea how to reverse this trend, Mr. Reich?