Civics 101 Billionaires
Nov 11, 2025
Timothy Noah, a staff writer at The New Republic and expert on income inequality, explores the staggering rise of U.S. billionaires from 2 to nearly 2,000 in just sixty years. He discusses how this wealth concentration is tied to political policies and reflects on the founders’ fears of a wealthy aristocracy. Timothy elaborates on how billionaires influence politics through spending and lobbying, and he dives into the impact of tax policies favoring capital over labor. Can we change the system to curb their power? Noah believes it's possible!
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Policy Shift Fueled Billionaire Boom
- The U.S. grew from a handful of billionaires to nearly 2,000 because policy shifted to favor wealth concentration over decades.
- Timothy Noah links tax and regulatory changes since the 1970s to this rapid billionaire proliferation.
A Billion Is Unimaginably Large
- A billion is so large it's beyond human-scale intuition and generates enormous passive income via interest and returns.
- Nick Capodice and Timothy Noah warn a trillionaire is plausible given capital's compounding power.
Founders Intentionally Blocked Wealth Aristocracy
- The founders feared a hereditary wealth aristocracy and took steps to prevent titles and entails.
- Timothy Noah notes Jefferson and others deliberately limited concentrated inheritance to protect democracy.
