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Take a look at what AOC is pointing out: for-profit prisons, student loans, "tricking the country into war," abusing food stamp programs. Notice a theme? Prisons are a product for governments. Rich people do not declare wars or issue food stamps. Student loans are backed by whom?
The trap I *don't* want to fall into is claiming that all is well. Wages have stagnated while healthcare and higher ed pricing skyrocketed, and both systems are regulatory fortresses. Regulatory capture via licensure and accreditation is locking in profit for the current players
The healthcare/education monster is unavoidably a private interest + government collaboration. Moreover, the collaboration has grown so complex and labyrinthian that it's unclear how to attack it. And it's moot anyway, unless it sounds better than "boo yachts, free college!"
Here's what worries me: whether via a punitive income tax bracket or a wealth tax, you're hitting a group that contains some game-players and many more value-creators. If you don't first solve the regulatory capture issue, you funnel the gains straight back to the game-players.
If we bet on a policy as aggressive as Warren's wealth tax, it'd become nearly impossible for ultra-successful entrepreneurs to maintain controlling stakes in their own companies over 1-2 decades. It should not be controversial to say this would be disastrous for the US economy.
Find me a politician who's saying "we need to prevent the AMA from artificially bottlenecking residencies" or "we need to reorganize higher education around student career expectations and implement elements of apprenticeship." Then find me a voting populace who wants to hear it
The problems are much deeper than these. Financial industry profits now rival those of all other productive industries combined. Yes, there are huge problems in healthcare and education — but focusing on those industries alone does not explain what’s happening.
If the financial industry's profits are cut in half next year, are you and I better off? If so, via what mechanism that produced both results?
I constantly think about @naval’s quote I heard once that “politics is the economics of power without merit.” Our governmental system incentivizes a path to a political office by shouting into a cloud while doing nothing. I wish there was a way to better align the incentives.
*”...exercise of power without...” 
I sense a theme but I just… can’t… quite... put my finger on itpic.twitter.com/GZpNc67imG
agreed, but reduced immigration helps wage growth, especially for bottom 20%
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