Most of the extreme wealth generated in our society is not generated via income. Most of it is generated through property (land, stocks, insurance products, etc

Most of the extreme wealth generated in our society is not generated via income. Most of it is generated through property (land, stocks, insurance products, etc). Yang actually addresses this fact. The elite of the world are so effectively globalized now that they are not subject to the tax code of one country. The US is, frankly, not strong enough to take down billionaires single handely.