It’s not just Democrats who talk about income inequality, at least some of the wealthiest Americans are worried about it, too. That’s because they are smart enough to know that the path we are on is a serious threat.
According to an article in MarketWatch, when hedge-fund billionaire Ray Dalio asked a crowded ballroom at a Milken Institute conference earlier this year whether they agreed that the current economic system needs to be renovated, most hands were raised. Dalio said:
“If we don’t agree, we’ll have some form of revolution; that could be to abandon capitalism or to go to another extreme.There may not be a revolution as of yet, but the chasm between the rich and the poor continues to grow.
Presidential candidate Elizabeth Warren — one of two candidates who have proposed a wealth tax — said this at Tuesday’s Democratic Debate:
Look I don’t have a beef with billionaires. My problem is you made a fortune in America — you had a great idea, you got out there and worked for it – good for you. But, you built it in part using workers all of us helped educate. You built it getting your goods to market on roads and bridges all of us helped pay for. You built it, at least in part, protected by police and firefighters all of us help pay the salaries for.