In 2016 in New York, 50 millionaires wrote to the state’s governor, Andrew Cuomo, asking him to increase their taxes because they thought economic inequalities had grown too high. The group included Abigail Disney, granddaughter of Walt Disney, and Steven Rockefeller, a fourth-generation member of that very wealthy family. The offspring of the rich at least know they did not bring in their riches, let alone create them out of thin air.
In truth, no one creates wealth out of the ether as the mythic phrase “wealth creator” suggests. Most wealth is appropriated from others, not made. Wealth can grow but only when it is well shared, not corralled into the hands of a few. Wealth growth rates are highest in countries that are more equitable than their neighbours.