Democrats spent a generation criticizing Republicans for their “trickle-down economics,” the assumption that tax cuts create investment and wealth that will “trickle-down” on everyone else in the form of jobs and growth.
But the Obama years proved that there is another type of trickle-down. Technology trickle-down.
Technology wealth is centered at the top, to a degree J.P. Morgan and Jay Cooke could have only dreamt of.
The wealth that has been created for corporate owners like Larry Page, Mark Zuckerberg and Jeff Bezos is hard to contemplate. As hard as Bill Gates works to give away his Microsoft fortune, it just keeps growing, and he’s got Warren Buffett’s $60 billion to dispose of as well. Between them, Gates and Buffett have $135 billion, more than the GDP of Kazakhstan, more than what Morocco is projected to create in 2020.
Apple has $250 billion in cash just sitting around, yet CEO Tim Cook is treated like some sort of hero by the left. When is some of that wealth going to trickle-down on the rest of the country? You think journalism is terrible? You know how much good journalism you can create for even $1 billion? Oh, you say it doesn’t pay? Whose fault is that, exactly?
When seen regionally it’s worse.