Too many Politicians (And civilians) believe that Wealth is Zero Sum. It is not.
What one person has has nothing to do with what anyone else has.
Also, the Supposed Wealth Gap can only grow.
Lets start with the Wealth Gap. Not understanding this is the cause of the Zero Sum problem.
OK, There are two people. One has $10,000,000 and the other $1,000,000.
The Wealth Gap between them is $9,000,000.
They both invest and earn a 10% annual return.
So, the first investor earns $1,000,000 and the second earns $100,000.
The first person now is worth$11,000,000 and the second is worth $1,100,000.
The Wealth Gap between then is now $9,900,000. The gap has increased by $900,000.
The point is that all things being equal, the Wealth Gap HAS to increase.
The math above shows that what one person has is irrelevant to what anyone else has. the second person was not prevented from earning a return that was equal to the other investor’s return.
What Jeff Bezos earns did not prevent Elon Musk from earing his billions..
I remember when there was one billionaire on the planet. Now here are over 4200 and many thousand of Centi-millionaires between $100 and $900,000,000 .
Instead of vilifying the wealthy, people should applaud our economy for producing them.
I am looking forward to the first Trillionaires.