There is an argument to be made that societal structure enables much of that wealth to be made. J K Rowling can make a billion dollars not just because people want her stuff and give her money for it but because we have a system of intellectual property and a bunch of guys who enforce it. We all pay for that and Rowling benefits. It’s true that this happens, but our system of taxation takes care of this pretty well.

There are exploitable gaps in the logic where loaning against owned collateral is not considered a realizable taxable event and it’s reasonable to attempt to close these.

But like most things I find that things fall down when actual policy needs to be written. The only example is the SEIU proposition in California which is backdated and requires many people to give up half their ownership in a company.

I can’t be brought around to supporting those outcomes.