The Bubble

Chrystia Freeland wrote a very interesting story for the New Yorker recently about the bizarre disdain so many of the super-rich feel toward President Obama. (That was the story where a billionaire said he would accept higher tax rates, but only “if he was treated with respect, and the government didn’t squander his money.” Just like how you get to decide what kind of taxes you want to pay, based on your particular feelings w/r/t the government, any imagined victimization and, pivotally, where your money winds up going. You know, it’s much how if you, Average Person, are opposed to wars, you can just say you think spending money on wars is squandering your money, and your tax rates might decrease. Like magic!)

Anyway, Freeland, editor of Thomson Reuters Digital, wrote a new book about the rise of the extraordinarily wealthy (as opposed to the merely rich) called “Plutocrats.” Reuters has an excerpt here.

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