Apparently one of the side-effects of being uber-wealthy is tremendous tone-deafness. In what could only be described as the intersectionality of hubris and malevolence, Rob Kapito, the President of BlackRock, disparaged millennials for being the “entitled generation”. Never mind the disappearing opportunities, being saddled with debt and the mental toll wrought by two years of lockdowns and pandemic anxieties borne by young adults, according to Rob, people in their 20s and 30s are a bunch of spoiled brats.
Make no mistake about it, Rob was not just targeting the emerging generation, he was mocking all workers, small business owners and the poor for “complaining too much” and telling us to be thankful while swindlers like him transfer wealth upwards and socialize poverty to the rest of us. What he omits from his thesis is that the neo-aristocracy, which he is a card carrying member, have seen their wealth skyrocket while our earning power has been decimated for the past 14 years and counting.
It’s ironic that the President of BlackRock would be the one who would make such a Marie Antoinettesque like statement. Unknown to many, BlackRock hold more capital assets than Apple, Amazon and Google combined and he personally made over $30 million, I guarantee you that “income” doesn’t count the deferred income and stock options that have yet to be exercised. Rob lecturing us about entitlement is like Harvey Weinstein teaching a course of workplace sensitivity.
While we are being conditioned to vilify each other by the very same media these billionaires monopolized and weaponized against humanity and bash each other on social media, the global gentry like Bezos, Gates, Zuckerberg, Fink et al are fleecing us in ways that make Bernie Madoff look like the second coming of Mahatma Gandhi. It is time for us to stop falling for the divide, distract and defeat tactics of the establishment and unite to defend our common interests.
This is precisely why I proposed that the top tax rates return to the levels of the 1950s. Instead of letting oligarchs like Rob Kapito get off essentially Scott free while breaking workers and small business owners with onerous tax burdens, it is time for the 1% to pay up and for the rest of us to finally tax relief. Just like Teddy Roosevelt, I am running for Congress to be a trust-buster and a monopoly eraser. Find out more about my PayCan proposal, in the meantime, here is my response to the ever tone-deaf executive.
*An earlier version of this article and in the TikTok video below, I incorrectly attributed BlackRock President Rob Kapito’s statement to BlackRock CEO Larry Fink. I have made the correction and apologize for the oversight because integrity is the one thing that is needed more than anything else in our nation’s capital.