02-18-2019 09:36:51 AM -0800
02-18-2019 07:35:39 AM -0800
02-17-2019 12:39:26 PM -0800
02-17-2019 08:18:34 AM -0800
02-15-2019 01:00:05 PM -0800
It looks like you've previously blocked notifications. If you'd like to receive them, please update your browser permissions.
Desktop Notifications are  | 
Get instant alerts on your desktop.
Turn on desktop notifications?
Remind me later.
PJ Media encourages you to read our updated PRIVACY POLICY and COOKIE POLICY.
X


Stretch, grab a late afternoon cup of caffeine and get caught up on the most important news of the day with our Coffee Break newsletter. These are the stories that will fill you in on the world that's spinning outside of your office window - at the moment that you get a chance to take a breath.
Sign up now to save time and stay informed!

Off With Their Heads! Lefties Believe Billionaires Should Be 'Eliminated'

Farhad Manjoo was in a restless mood when he woke up yesterday morning. He hadn't written anything truly stupid and controversial since his column last month, "There's Nothing Wrong with Open Borders," and his New York Times editor was demanding something that would generate clicks and get the right really, really mad at the paper.

For Manjoo, a piece of cake. And "Abolish Billionaires" was born.

A billion dollars is wildly more than anyone needs, even accounting for life’s most excessive lavishes. It’s far more than anyone might reasonably claim to deserve, however much he believes he has contributed to society.

At some level of extreme wealth, money inevitably corrupts. On the left and the right, it buys political power, it silences dissent, it serves primarily to perpetuate ever-greater wealth, often unrelated to any reciprocal social good.

It's not that Manjoo didn't put any thought at all into the idea. Like the Grinch, "he puzzled and puzzled 'till his puzzler was sore." And then, out he vomited the notion that billionaires were the root of all evil and must be eliminated.

I suspect the question is getting so much attention because the answer is obvious: Nope. Billionaires should not exist — at least not in their present numbers, with their current globe-swallowing power, garnering this level of adulation, while the rest of the economy scrapes by.

I like to use this column to explore maximalist policy visions — positions we might aspire to over time rather than push through tomorrow. Abolishing billionaires might not sound like a practical idea, but if you think about it as a long-term goal in light of today’s deepest economic ills, it feels anything but radical. Instead, banishing billionaires — seeking to cut their economic power, working to reduce their political power and attempting to question their social status — is a pithy, perfectly encapsulated vision for surviving the digital future.

Daydreaming about eliminating people because, in his subjective opinion, they have "too much" money might seem a little loony to reasonable people. But whoever accused a leftist of being reasonable? In fact, there are several lefties who are suggesting the exact same thing, as Nick Gillespie writes at Hit and Run:

As left-wing populists and progressives ascend in the Democratic Party, they are laying down new dogma, none more heartfelt than the idea that billionaires are evil, rotten, and not to be tolerated. For the Bernie Sanders, Elizabeth Warrens, and Alexandria Ocasio-Cortezes of the world, billionaires are what witches were to Salem congregationalists and kulaks were to Lenin: a threat to the system that must be eliminated.

Ocasio-Cortez's economic policy adviser Dan Riffle has changed his Twitter name to "Every Billionaire Is a Policy Failure." Lefty blogger Tom Scocca declares "Billionaires are bad. We should presumptively get rid of billionaires" (he graciously adds, "they may go on living...[but] they must not be allowed to possess a billion dollars"). A research director at the proggy Roosevelt Institute says simply, "We do not need billionaires."