Elon Musk's net worth increased by $28 billion today. If that doesn't convince you wealth inequality

[Abolishinist]

17. I have nothing against Reich, I like a lot of what he stands for,

but IMO he's taking an easy shot by using Musk as an example. Income/wealth inequality is a problem, but I don't see how this furthers the discussion.

And Musk didn't 'make' that in one day, his net worth increased by that amount for that particular day in time. Today? Well, using your reasoning, it would take 16,000 people each losing $500,000 for one year to equal his 'loss' for one day.

You failed to mention it would take 150 THOUSAND Reiches one year to equal what his shareholders, many of whom are employees, 'made' in that one day. And CALPERS, the pension fund which provides retirement benefits for professors such as Reich and others (many receive over $300,000 per year), also gained around $250 million yesterday. Which is good because it is a defined benefit system, which means if the fund doesn't have enough assets the taxpayers chip in, one way or another.

And Musk has provided good jobs for over 70,000 employees, who are working for a company that is accelerating the transition to sustainable energy. And it seems he paid $455 million in taxes between 2014 and 2018, with a potential tax bill for 2021 in the $10 to $15 billion dollar range.