I pay very little attention to the zillionaires who publically complain that they’re being unfairly singled out in the inequality debate. On the other hand, I pay a lot of attention to the impact of money in general and concentrated wealth in particular on elections, voting rights, and public policy. In fact, I put that function in the heart of my model of how inequality affects growth, especially regarding bubbles and financial oversight (more on that later today, maybe).
I doubt the very rich are reading this but if so, do the following thought experiment. If you’re in the top 1% of the wealth scale, before you complain about being picked on, ask yourself whether you’d switch places with someone at the 35th percentile. I’m quite certain they’d be willing to make the trade, but if you’re not, then better to hold your tongue.