Wealth tax or not, America must bridge its wealth gap
As we enter a new decade, the two Americas must be bridged
America looks a lot different from Washington that it does from Florida – which is likely why Donald Trump is spending his Christmas vacation at Mar-a-Lago rather than the White House. Having just spent Christmas in Florida myself – though on the quieter Gulf coast, rather than the flashier Atlantic – this has made me think about the extraordinary contrast between these two Americas.
Florida is warmer, of course, but the bigger contrasts are in politics and society. DC is profoundly Democrat, whereas Florida is a swing state. So in the nation’s capital, the focus is on public money – how the government distributes its tax revenues. In the country’s third most populous state, the focus is on private money – how people accumulate and spend their wealth. Its low taxation has made Florida a magnet both for the moneyed.
And at the end of this decade, there are many more moneyed Americans than there were 10 years ago.