economy
Pity the poor billionaires – demands for higher taxes must feel hurtful
No wonder they are upset by the slogan ‘tax the rich’. Despite their wealth increasing 81% since 2020, they need our emotional support now more than ever
TL;DR
- Billionaires are expressing distress over the slogan ‘tax the rich’, viewing it as hateful.
- Steve Roth, CEO of Vornado Realty Trust, compared ‘tax the rich’ to racial slurs.
- New York mayor Zohran Mamdani, who supports taxing second homes worth over $5m, has faced Islamophobic attacks.
- Billionaire wealth increased by 81% since 2020, while one in four people do not have enough to eat.
- Billionaires own more than half of the world's largest media companies and all main social media companies.
- Columnist Kyle Smith argued that billionaires should be celebrated and their stories taught as inspirational parables.