Abolish Billionaires?

Well now this is curious, and an inconvenient fact for the “abolish billionaires” movement that thrives currently in the Democratic Party. (Keep in mind that besides Robert Reich saying all billionaires cheated, AOC’s chief of staff Tweets under the handle “Every billionaire is a policy failure.”) It turns out that of the top 20 nations on the UN’s Human Development Index, nine have more billionaires per capita than the United States, including such favorite “socialist” examples Sweden, Norway, and Iceland. I’ll look forward to Bernie and AOC explaining why those nordic countries allow this “policy failure” to persist. (P.S. I have a hunch that a lot of those foreign fortunes are legacy inheritances, while most of our billionaires are self-made, like Bezos, Zuckerberg, etc.)

More here from Will Wilkinson.