Billionaires, Economics, Libertarians

Beyond a certain point, accumulating wealth is simply a function of having already accumulated wealth. 

Maxim: Beyond a certain point, wealth is accumulated simply as a result of having wealth.

Effect:  Nothing catchy or lyrical.  Just a direct statement.

Alternatives: Beyond a certain point, the wealthy accumulate wealth simply by being wealthy.

Intent:  Intended to challenge or rebut common cultural belief in the “ownership” of wealth and the morality of having vast amounts of wealth.  Rationale for strong progressive taxation.

Explanation: Economists like Thomas Picketty and historians like Richard Bregman have documented that, beyond a certain point, wealth is accumulated not because of hard work, talent, or innovation, but simply as a result of having wealth.  Moreover, if that unearned wealth is not invested into society, it deprives others of having opportunity or even a humane standard of living. The first level of incomes typically come from hard work, next talent and innovation, then finally from simply having money, i.e., in the form of investment advisors, privileged investments, etc.  It’s called being a rentier.

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