Why are Gen-Z socialists obsessed with taxing billionaires? | The Economist

"Tax the billionaires" is a rallying cry of Gen-Z socialists—not least because it makes for a compelling soundbite on TikTok. But what is the real cost of making the super wealthy pay for everything? On the latest episode of Insider our editors make sense of Gen-Z socialism's economic plans. #Mamdani #Tax #Wealth #Economics #GenZ 00:00 - Why the left no longer wants to tax everyone 00:33 - Why Gen-Z is obsessed with billionaires 01:17 - Mamdani’s pied-à-terre tax 02:15 - The economic case for property taxes 04:02 - Have we reached “peak billionaire”? Watch the full show: https://econ.st/3PJSyfz Sign up to the Insider newsletter: https://econ.st/4nOyzIb Subscribe to The Economist: https://www.economist.com/subscribe Download our app: https://www.economist.com/get-the-app Follow The Economist on Instagram: https://www.instagram.com/theeconomist/ Follow The Economist on Facebook: https://www.facebook.com/TheEconomist Follow The Economist on X: https://x.com/TheEconomist