There are, of course, millionaires and billionaires who are leeches on society, who bleed our GDP and contribute nothing to the commonwealth. There was, for instance, a bright young man who worked all the scholarship angles so that wealthy donors (with their tax-dodging charitable contributions) paid his way through fancy schools. He embarked on an urban scam called “community organizing.” Then he obtained a large sum for writing a book about his life and accomplishments at age 34 when he didn’t have any accomplishments and hadn’t led much life. He wormed his way into politics with all its perks and benefits. And now his big house, his stretch limousine, and his luxury jet are paid for out of the public treasury.
But a fellow like that is an exception. Most rich people provide some value to mankind—goods, services, or, at worst, fishy investments to make us temporarily feel like we’re rich too. And when even the richest of the rich loses $1,645,000,000,000 he has to give the big house, limo, and jet back to the bank. That’s real money.