No wonder they are upset by the slogan ‘tax the rich’. Despite their wealth increasing 81% since 2020, they need our emotional support now more than ever
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on’t anyone think of the poor, poor, billionaires? Their endless money can buy them political power, but it can’t buy them love. Instead of being worshipped by the hoi polloi, titans of industry are denounced! Despised! Disrespected! Insert another D-word of your own!
Thankfully, class solidarity is strong among the super-rich. Steve Roth bravely brought attention to the plight of his fellow billionaires during a recent earnings call. “I consider the phrase ‘tax the rich’ … spit out with anger and contempt by politicians … to be just as hateful as some disgusting racial slurs,” the Vornado Realty Trust CEO said.
One of the politicians Roth was referencing, New York mayor Zohran Mamdani, has himself been subject to some “disgusting racial slurs”. The city’s first Muslim mayor was termed a “known jihadist terrorist” (among other Islamophobic names) by figures including fellow New York politician Vickie Paladino. While I can’t find evidence that Roth felt the need to comment on these attacks, he was upset that the mayor filmed a video announcing a tax on second homes worth more than $5m in front of fellow billionaire Ken Griffin’s penthouse. According to Roth, this was “irresponsible”. Which is a tenuous argument considering Griffin’s record-breaking penthouse wasn’t exactly flying under the radar. It was bought for $238m in 2019, the highest price ever paid for residential US property.
