In two weeks, Californians vote on Prop 40, a one-time 5% tax on the net worth of the state’s ~200 billionaires. Bernie Sanders and Ro Khanna have introduced a federal version, a dozen states have pushed millionaire or billionaire taxes this year including four that passed.
I used to think "As long as the lives of the lowest are improving, why do wealth gaps matter?" But then a few years ago, The Lessons of History by Will and Ariel Durant changed my mind. The Durants noticed a violent revolt almost every time in history the gap got too big. In the two peaceful exceptions they found, the elite led the reform. In 594 BCE Athens, it was led by one guy named Solon, who got the rich to go along with cancelling debts and ending debt slavery.
So, should we do something about wealth concentration, and if so, what?
- Is there a modern-day Solon in the house?
- Where might your own emotional reactivity, in either direction, be clouding or informing your judgement?
- What if your moral assessment in either direction leads to a worse outcome?
- Does AI change this at all?
Would love hear your thoughts here.
Jordan