Katharine, this is wrong understanding, very common and gets us into trouble.

Wealth is NOT a fixed amount but expands with productivity. Generally (and in a free market) the wealth at different levels move together. The guy buying the Lambo paid sales and marketing folk, designers and manufacturers. Not to mention, sales tax, insurance, speeding tickets and oh! these wonders have more cylinders than miles per gallon.

In short (generally) our biilionaires DON'T take away from the rest of us. They (again generally) do the opposite. Amazon, for example, puts money back into our pockets because their fantastic service.

Agreed, disparity of income is an enormous problem. And so distructive. We got Donald Trump largely because of it. Britain got Brexit and, it can be debated, Russia got to go back to the USSR.

It's the disparity of opportunity or lack of economic mobility that hurts. And hurts everyone -- including the Lambo guy. How best to correct this is the issue.

I think we are getting closer to having a base income for all in America (including our Lambo guy as it could pay for his monthly parking). The base income directly into people's pockets would liberate so much talent that all would benefit from. Also it would diminish at least some of the grievances and allow the engines of our prosperity (nnovation, trade and immigration) to work better for us in America and also the world.

Many thanks. Important article.