In Defense of Billionaires
American progressives, together with populists and nationalists on the right, argue that “every billionaire is a policy failure” and propose applying special taxes to them. But bashing the ultra-wealthy is based on flawed ideas about income inequality and sends the message that success is a dirty word.
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WASHINGTON, DC – “Billionaires should not exist,” argues Vermont Senator Bernie Sanders, who has long described himself as a democratic socialist. Indeed, “every billionaire is a policy failure” is a relatively common slogan among American progressives.