The Rich Deserve Their Wealth: Debunking Bernie Sanders' Criticism
Bernie Sanders, former U.S. Senator, argued that the American justice system is flawed when 3 billionaires own more wealth than the bottom half of the population. However, the truth is that these billionaires did not break any laws, as they often played a substantial role in shaping them to their advantage. It is critical to understand how the wealthy accumulate their wealth, why the laws are made in their favor, and why the blame should not solely be on the rich.
Billionaires and the Law: A Self-Made Game
Billionaires like to claim they create wealth, but in reality, the path to their success involves creating new industries, exploiting existing industries, and utilizing insider information. For example, Jeff Bezos, the founder of Amazon, became a billionaire by destroying traditional industries and offering a disruptive product to the world. However, his success was also rooted in providing poor wages and abysmal working conditions for his employees. His recent plans to explore outer space highlight his vision and resources rather than ethical labor practices.
The Case of Adnan Khashoggi
Adnan Khashoggi, once the richest man in the world in the 1980s, exemplifies the unscrupulous nature of many billionaires. His accumulated wealth stemmed from a sweetheart deal with the Saudi Arabian royal family, wherein he acted as an intermediary for military equipment. This created an unnecessary and artificial price increase, allowing him to amass enormous wealth. The irony is that these billionaires demand admiration while practicing unethical behaviors.
How Billionaires Rig the Game in Their Favor
Billionaires, such as Jeff Bezos and Elon Musk, benefit from a rigged system. They argue for the privatization of public goods, refuse to pay taxes, and yet demand wage breaks and subsidies from the government. They show insane profits regardless of market conditions, and even when they need help from the government, they scream for the subsidies to not be taken away.
Elon Musk: A Case of Corporate Irresponsibility
Elon Musk, CEO of Tesla and SpaceX, exemplifies the unethical practices of many billionaires. Musk's claims of paying substantial income taxes largely disregard his actual tax history, which shows minimal tax payments in large years. Despite these claims, he has a private jet that travels the world, which is a far cry from living at the poverty line.
Tesla, under his leadership, has one of the worst occupational safety records. Musk's behavior with stock manipulation, insider trading, and defying legal conditions further discredits his claims. Additionally, his actions have affected investors and the market, leading to class action lawsuits. His history of financial misdeeds, from claiming to be self-made to involving himself in Bitcoin and SolarCity scams, strongly suggests that his wealth has not been honestly earned.
Conclusion
The concentration of wealth among a small number of individuals does not necessarily mean that they have broken the law. Conversely, it often means that they have leveraged the legal framework to their advantage. Nevertheless, transparency, ethical practices, and fair regulations are essential for a just and equitable society.