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‘I don’t think we should have billionaires’: mayor Zohran Mamdani in his own words
(www.theguardian.com)
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this post was submitted on 01 Jan 2026
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politics
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To be honest I think it's weird to have a system where you give people a bunch of wealth only to then have the state later take it away. Why does the system work such that they get all that wealth to begin with?
Yes the problem lies in how the wealth is accumulated, its extracted from someone. If they all worked super hard for it nobody would have a problem. But the reality is, all workers get a paycut so the equity owner can chill and see his money rise.
Originally it was just a really high tax rate at the highest bracket. This accounted for a monetary system that is essentially gamed. In the US the government reversed this under the theory of trickle down economics. This allowed a large group of people to greatly grow their investments and their wealth accordingly.
Inheritance tax is used to recoup some of these lost taxes but it is a poor way to do it. The correction should be at the beginning not the end. I agree with you.
Because capitalism is the best way to distribute resources (to the top).