this post was submitted on 01 Feb 2025
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This is where the "temporarily embarrassed millionaire" (or billionaire) come into play. That's the most relevant form of being a class traitor.
I mean with only 300 billion, we could make 300,000 new millionaires. If you took that from Musk, he’d still have over 100 billion dollars all to himself.
Yes, that's what I mean. What you described happened and it's a core part of how capitalists build up a popular base. The temporarily embarrassed ones are looking up to the ones who are actual millionaires. Don't worry, they get that money back in the end.
With wealth, like properties, shares and various "passive income", the class interests of the former working class person tend to turn into capitalist class interests: lower taxation, more deregulation, more personal and family wealth accumulation, more welfare and aid for "business owners", smaller social welfare systems (for the masses) with private (and exclusively expensive) alternatives, and so on.
From the horse owner's mouth: How FDR Saved Capitalism