Should We Cherish the Ultra-Wealthy? (a.k.a. ‘The Cornfield’) | Optimist Economy

A certain kind of wealthy American has been griping out loud lately — about taxes, about progressive cities, about how unappreciated they are for the jobs they create, the stuff they buy, and the tips they hand out. A narrative is coalescing around them too: that the top 10% of earners now do so much of the spending, the U.S. economy relies on them. But an economy that depends so much on the people at the top isn't the healthy one the country deserves — it’s just wearing a nice suit. ✨Support us by donating at https://optimisteconomy.com ✨ Chapters: 00:56 Announcements: Q&A episode questions wanted 01:18 Retcon: The 86 debate; FDR's full "calamity howling executives" quote 05:32 Terms & Conditions: Wealth Effect and Zugzwang 09:26 Big Pilcrow: Should we cherish the ultra-wealthy? 36:41 Executive Orders: Retire "mummies"; union credits on red carpets 39:34 Spiritual Sponsors: Mellow Cello podcast; enormous floral arrangements Further Reading • Moody's claim that the top 10% of earners now drive nearly half of consumer spending in the WSJ: https://www.wsj.com/economy/consumers... • The Minneapolis Fed on what the underlying data actually shows. https://www.minneapolisfed.org/articl... • Wealthy part-time New Yorkers reacting to a proposed pied-à-terre tax in the Financial Times. https://www.ft.com/content/3283eaab-e... • The Wall Street Journal on second-home taxes spreading from New York City to other states, including the San Diego homeowner who'd like to be cherished. https://www.wsj.com/real-estate/taxes... Full reading list at https://optimisteconomy.substack.com Send your economic questions or executive orders to [email protected] Follow Optimist Economy: TikTok |   / optimist_economy   Substack | https://optimisteconomy.substack.com/ Instagram |   / optimist_economy   Subscribe wherever you listen to podcasts: https://tinyurl.com/op-econ-pod Consume leisure in an O.E. hat or shirt: https://merch.ambientinks.com/collect... ABOUT OPTIMIST ECONOMY: Economist Kathryn Anne Edwards and editor Robin Rauzi co-host this brand new podcast about how the U.S. economy can be better, and how the country can get there, one problem and solution at a time. Kathryn is a PhD economist, columnist, and consultant who studies labor markets, public policy, and inequality. She’s better known as keds_economist on TikTok and other social media. Robin is a former newspaper opinion editor, not an economist, and not much on the socials. It’s funnier than you think, we promise. New Optimist Economy episodes available every Tuesday, wherever you get your podcasts. #WealthInequality #Podcast #OptimistEconomy