Joseph Heath at Persuasion:
When the decline and fall of the American empire is chronicled by future historians, the role played by a small cabal of radicalized multi-billionaires, taking control of the media to spew disinformation, unlawfully interfering in government operations, raving about the anti-Christ, and buying pardons from a corrupt president to avoid punishment for their criminality, will figure centrally in the account. Even among those who don’t begrudge these men their wealth, many would still be relieved if they could behave themselves somewhat better.
Luckily, there are at least a half-dozen sensible reforms that could be undertaken in the United States that would significantly reduce the severity of the problem. Unfortunately, these sensible reforms require at least five minutes to explain, as a result of which they have no chance of being adopted in the current political environment. Progressives have therefore begun to rally around a much simpler plan: wealth taxes. On the merits this is a terrible idea, but it has the advantage of being extremely easy to explain: billionaires are bad, so let’s take away their money!
More here.
Enjoying the content on 3QD? Help keep us going by donating now.