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I don't hate billionaires. They just shouldn't have that much money. NO ONE should have that much money. In fact, back in the 80s, virtually no one did. Remember when Bill Gates was the richest person in the world in 1995? And he had $13b of MSFT stock. Now the 10 richest people all have 10-20x that. That's not inflation (which is only 3x since then), that's an incredible increase of wealth concentrated in their hands, that gives them the power to light our industrial society on fire if they want. And some of them do want.


A cumulative total return of the S&P 500 since 1995 is about 2,467% (or roughly 25.7× your original investment).


Right, so a sensible society would tax capital gains more than labor, but since we didn't do that, the lion's share went to the already wealthy. For no reason other than being wealthy.




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