UK MP Decries 'Toxifying' Wealth Gap Fueled by Super-Rich Elite
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Labour MP Liam Byrne is disgusted by the ostentatious displays of wealth among the super-rich, as depicted in shows like Succession and Below Deck.
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Byrne believes wealth inequality is "toxifying our politics and our society," with the average wealth of today's billionaires dwarfing that of ancient Roman aristocrats.
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He worries about the political influence wielded behind the scenes by the wealthy, as well as the unaffordability of assets like housing for most people.
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Byrne views the upcoming massive intergenerational transfer of wealth as likely to make Generation Z the most unequal in decades, with political consequences.
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He advocates fixes like a sovereign wealth fund financed by fairer taxes, but sees addressing inequality as a long-term project needing sustained political will.