Wealth Taxes Are Rich in Appeal, Poor in Practice
Average Americans are struggling with high rents and grocery costs, but the billionaires can afford to run away.
Billionaires can afford to run away.
Photographer: Bloomberg
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When I first moved to New York City back in the age of Tom Wolfe’s Bonfire of the Vanities,1 things were simple: Masters of the Universe went to the Met Gala, and the stars mostly stuck to Los Angeles. How things change over the decades: Last week, the celebs descended on the Met event, and the plutocrats hit the Milken Institute Global Conference in sunny Beverley Hills. I honestly cannot decide which event I care less about.