Congress woman Alexandria Ocasio‑Cortez, AOC, recently asserted that no one could earn a billion dollars. She needs to update her claim now that Elon Musk has become history's first trillionaire.
AOC wasn't making a factual statement. She was regurgitating old Marxist nonsense that profits are theft from the workers: business owners shouldn't make profits; all income above the cost of materials belongs to the workers. AOC made that clear by adding that businessmen can under pay workers, but they haven't earned their profits. They have stolen them from workers.
I agree with socialists that billionaires and trillionaires shouldn't exist, but for different reasons. They exist today because the Fed has destroyed the purchasing power of the dollar by counterfeiting tsunamis of them over the past century. If the dollar still had the purchasing power it had before the Fed, a trillion in today's dollars would be worth just $29 billion in 1912. Elon Musk might still be a billionaire, but far from a trillionaire.
