This is an overly Marxist viewpoint.

It's Jacobin. You can't expect any different. I mean you can, but you'll be wrong more often than not.

(Seriously, before anybody piles on, read their About section. They're upfront about who they are and what viewpoint they carry.)

What's wrong about it, exactly?

> There’s an understandable focus on the first-generation billionaires — the Bezoses and Musks — and their surging wealth gains during the pandemic. But America also has growing and persistent “wealth dynasties”: multigenerational inherited wealth families. There are fifty dynastic families in the United States with a combined $1.2 trillion in wealth that we know of. Most likely there are trillions more hidden in trusts and offshore sites. The twenty-seven wealthiest families that were billionaires in 1983 have seen their wealth increase over 900 percent in the last thirty-seven years.

I don't know, the article seem to make more a case of feudalism.

Just like the title implies. There are a few examples which spell out a middle ground. The passing of the Corporate Transparency Act; not Marxist but attacked as technically unconstitutional if Congress doesn’t have the power.

https://news.ycombinator.com/item?id=40431579

Yup it makes no sense. All the billionaires's wealth in the US, if confiscated ($6.5 trillion), wouldn't allow to pay back even 20% of the US's public debt ($36 trillion). (not taking into account that that wealth is not liquid and confiscating it would crash that very wealth to way less than $6.5 trillion).

> The billionaire class isn’t just a group of people who happen to be superrich. It’s a dynastic oligarchy with a single overriding objective: controlling the government to protect its inherited wealth.

It's not what happens at all. Billionaires like Jobs or Musk were made for creating Apple products or Tesla/StarLink for us. Or billionaires like Buffet: by investing in companies who created products for us.

What's happening is the government is capturing nearly all the wealth: median household income in Washington D.C. is the highest in the world. EU bureaucrats are better paid (and pay much less taxes) than the average EU citizen. The government grows ever bigger, creating an ever bigger inefficient bureaucracy. And all the wealth is trapped there: endlessly going to state-funded agencies and organizations.

A country like France has 60% of its GDP that's public spending. And yet what do you hear in France? That the "rich" are the problem, not the government, not the bureaucracy.

I simply don't buy it.

The source is literally a communist magazine.