Wealth Tax
By Mike Dorf The recent Jane Mayer expose on the billionaire Koch brothers has been understandably garnering considerable attention. Mayer documents the extent to which said brothers have been bankrolling the Tea Party movement to advance both their economic libertarian ideology and their business interests. The article is a useful antidote to the view that the only serious threat to democracy from concentrated wealth derives from corporations. That view, fostered by the Citizens United case, misapprehends the real problem: concentrated wealth itself. Corporations are merely one vehicle for aggregating enormous wealth. Thus, anyone concerned about our political economy ought to be no less concerned about giant pools of money in the hands of natural persons than in the hands of corporations. Indeed, the former is arguably a greater threat; diffuse corporate ownership makes it less likely that corporate treasury funds will be used to fund an id...