Given the immense power of today’s tech moguls, it’s almost impossible to imagine a California labour union succeeding in its bid to impose a wealth tax on the state’s high-flying billionaires.
So it’s heartening to know that something similar once happened.
In the “Gilded Age” of the 1890s, an ultra-rich elite dominated America economically and politically, with their fortresses of wealth effectively untouched by the tax system.
