Elon Musk’s enormous wealth will soon enough appear small. For evidence, see a popular chart listing the looming federal tax bills for multi-billionaires in the U.S. Musk will apparently be assessed $26 billion next year, Jeff Bezos $23 billion, and so on.
The numbers are troubling, but more troubling is how free market types are addressing the numbers. They’re making the rather simplistic point that if Musk and other multi-billionaires faced a 100% wealth tax, their wealth would still only pay off a tiny fraction of the national debt. As always, they’re focused on symptoms.
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