"It must be hard to hear people say shocking things such as: Maybe we should restructure the tax code so the ultra-rich don't pay lower effective tax rates than teachers. It must hurt to imagine a future where punitive taxes mean people like Griffin can only afford pieds-a-terre in the $100m range. Still, I do have good news: when you look past all this nastiness, things have never been better for billionaires."
Billionaires face public denouncement and disrespect, and some leaders frame tax-related criticism as hateful. Steve Roth criticized the phrase “tax the rich,” comparing it to hateful language. New York mayor Zohran Mamdani, a Muslim mayor, has also faced Islamophobic slurs from political figures. Roth objected to Mamdani filming a video about a tax on second homes worth more than $5 million in front of Ken Griffin’s penthouse, calling it irresponsible. The penthouse purchase was widely known, including a record $238 million price in 2019. The piece notes that despite harsh rhetoric and proposed punitive taxes, conditions for billionaires remain favorable as their wealth has increased substantially.
Read at www.theguardian.com
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