Billionaires’ Row and Welfare Lines

What does a billionaire do after buying a $90M apartment in Manhattan? Remodel it of course. Lots for work for carpenters, electricians, plumbers, interior decorators, and all the people that support and supply them. I don't see this as a bad thing; it's a good thing.

Money from quantitative easing goes to the wealthy and connected first. The rest of the country doesn't see it until its value has been inflated away, which is why you'll see the wealthy benefit from the recovery and the poor stay exactly where they are.

Just look at those comments. The readers of the NYTs place the blame for poverty squarely on two groups: The rich, and Republicans. The first are guilty of &quot;not sharing&quot;--which implies they (the readers) believe in a zero-sum economy. The latter are guilty for not wanting higher taxes, ie, for not <i>forcing</i> the rich to share. So, a single fallacy rules their world view.

I&#x27;m curious if the author bothered to check what percent of most expensive NYC apartments are bought by Americans (unlike Russian or Middle East kleptocrats).

Many of these billionaires are undeserved and unearned billionaires because of the carried interest tax dodge. That needs to go ASAP. Over five years into a Democrat presidency and all these tax issues (low taxes on dividends, double irish corp tax dodge, etc) that protect the uber wealthy persist.<p>It&#x27;s not about taxing the wealthy, it&#x27;s about fairness. $85K earned by a teacher, $150K earned by a developer, $20M earned by Brad Pitt and $200M earned by Steve Schwarzman should all be taxed the same way.<p>And the same goes for corp earnings. F Apple! Pay your taxes.<p>Top 10 Private Equity Tax Loopholes <a href="http://dealbook.nytimes.com/2013/04/15/the-top-10-private-equity-loopholes/" rel="nofollow">http:&#x2F;&#x2F;dealbook.nytimes.com&#x2F;2013&#x2F;04&#x2F;15&#x2F;the-top-10-private-eq...</a>

Automation and outsourcing