I have no problem with people becoming wealthy or inheriting wealth. I advocate for progressive income taxes to force the wealthy to support the republic that allowed them earn such wealth. Except for personal homes and farms that appreciate in value I also advocate for increased capital gains taxes. People that make money by “flipping” houses or stocks should not have a tax advantage over those that labor to earn money. Regarding inheritance taxes, I think there should be an exemption for children inheriting their parent’s home, family farm and family business.

If the directors of profit corporations don’t attempt to maximize profits they can be sued by the corporation shareholders. Benefit and non-profit corporations, employee owned businesses and worker cooperatives can put more emphasis on employee benefits. That’s why I prefer them to max-profit corporations.

I think the wealthy have a moral obligation to help humanity. Many of the wealthy assume this responsibility as they reach their senior years. I remember in 1997 Ted Turner pledged to donate $1 billion to the newly formed United Nations Foundation and challenged other wealthy individuals to pledge to donate a significant amount of their wealth to philanthropic causes. Forbes ranks America’s wealthy by worth and philanthropy. Twenty-nine have donated in excess of $1 billion and/or 20% of their net worth.