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Half Of Young American Democrats Believe Billionaires Do More Harm Than Good

Courtesy of ZeroHedge View original post here.

With income inequality the political hot potato du-jour and wealth concentration at its most extreme since the roaring twenties, is it any wonder that even Americans’ view of what used to be called ‘success’ is now tainted with the ugly taste of partisan ‘not-fair’-ism.

Income inequality is roaring…

Wealth concentration is extreme to say the least…

But still, according to Pew Research’s latest survey, when asked about the impact of billionaires on the country, nearly four-in-ten adults under age 30 (39%) say the fact that some have fortunes of a billion dollars or more is a bad thing…

…with 50% of young Democrats.

“The recent reigning conventional wisdom over the last several decades of what I call the ‘Age of Capital’ is that [billionaires] are ‘up there’ because they are smarter than us,” said Anand Giridharadas, author of “Winners Take All: The Elite Charade of Changing the World.”

But the Pew data, he says, suggest that young Americans are concluding that billionaires have amassed their wealth “through their rigging of the tax code, through legal political bribery, through their tax avoidance in shelters like the Cayman Islands, and through lobbying for public policy that benefits them privately.

“Bernie Sanders taught a lot of people [about wealth inequality], including people who did not vote for him,” Giridharadas said.

“The billionaire class is ‘up there’ because they are standing on our backs pinning us down.”

The good news – for the rest of America’s “capitalists” – is that a majority (58%) say the impact of billionaires on America is neither bad nor good.

Finally, one quick question – where were all these under-30s when Bernie needed them the most in the Primaries? Was it all just virtue-signaling pro-socialist bullshit after all?


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