If only they would actually spend it on things that benefitted the economy instead of:

• Buying land/houses
• Buying successful businesses in order to loot them (typical Private Equity moves)
• Lobbying the government to cut their taxes and reducing social safety nets

I firmly believe that a big reason why wealth is consolidating so quickly is because there’s not much for the rich to spend their money on these days. It used to cost a fortune to care for a great big mansion and the surrounding grounds (and you’d have a local economy built on that). These days, it’s not even a rounding error in their monthly income from interest and dividends and you don’t even need to hire very many people.

There used to be actual luxury services the rich needed to pay for if they wanted to appear better off than the riffraff. Now the common man has access to all those luxuries and more.

Once you’ve got a couple private jets and a yacht (that you never spend any time on), what the fuck do you need all that money for‽ Even they don’t know what to do with it!

Larry Ellison—the original tech villain billionaire—bought a huge private island in Hawaii. He’s never there. It just… Sits there. With a small staff and places for his yachts. It’s like he wants to go down in history as one of the biggest, greedy scumbags of all time.