“Billionaires should not exist,” Senator Bernie Sanders said last month. And, at the Democratic presidential debate this week, he said that the wealth disparity in America is “a moral and economic outrage.” “Senator Sanders is right,” said Tom Steyer, a businessman from California who happened to be the only billionaire onstage that night (as far as we know). “No one on this stage wants to protect billionaires — not even the billionaire wants to protect billionaires,” noted Senator Amy Klobuchar. It’s an idea that’s going around. Mark Zuckerberg, the Facebook founder who is worth close to $70 billion, is apparently open to it. “I don’t know that I have an exact threshold on what amount of money someone should have,” he said in live-streamed question-and-answer session with company employees in early October. “But on some level, no one deserves to have that much money.” Yet here we are, chugging into the 10th year of an extremely top-heavy economic boom in which the 1 percenters, by all statistical measures, have won, creating the greatest wealth disparity since the Jazz Age. This era, in length and gains, dwarfs the “greed is good” 1980s, that era of yellow ties, nigiri rolls and designer… Read full this story
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