Robert Reich: Billionaires Taxed
on Thursday, November 4, 2021Robert Reich Money Quote saying Jeff Bezos just saw his net worth increase to over $200 Billion and paid no taxes – why? Robert Reich said:
“Jeff Bezos just became the first person on the Forbes 400 list with a net worth of $200 billion … and we’re still arguing about whether the billionaires need to be taxed” — Robert Reich
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In this quote, Robert Reich is expressing frustration that while Jeff Bezos has just reached the unprecedented milestone of having a $200 billion net worth, making him the richest person in modern history, there is still debate around whether extreme wealth at the billionaire level should be more heavily taxed.
Reich seems to be implying that Bezos’ immense fortune, larger than almost any private accumulation of wealth ever, underscores how the tax system does little to curb the growing concentration of wealth and power among a tiny few individuals.
By pointing out that this discussion is still ongoing even in light of Bezos’ unparalleled wealth, Reich appears to be arguing that billionaires have accumulated too much and higher taxes are needed to reasonably address wealth inequality in society.
Jeff Bezos just became the first person on the Forbes 400 list with a net worth of $200 billion … and we’re still arguing about whether the billionaires need to be taxed.
— Robert Reich (@RBReich) October 5, 2021