This comment is from Middlesex resident George Longenecker.
Elon Musk just spent $44 billion to buy Twitter. His $279 billion net worth is incomprehensible without a calculator.
Meanwhile, it’s hard to find an affordable home in the Montpellier area or anywhere in Vermont.
In a public recreation center in the city center, homeless people await their days. Some sleep on the banks of rivers and on the edge of woods. There have been many articles about the situation, but a small town in a small state has too little money and resources to really address the fundamental issues of homelessness and income disparity, although many people in Vermont are doing admirable things when it comes to housing.
In Vermont, it is becoming increasingly difficult to find a good house for less than $500,000. At this price, Elon Musk could buy 558,000 homes without having to worry about a mortgage.
It’s not just about Elon Musk; it is a growing disparity. These are people who have two jobs and are barely getting by.
If Elon Musk only earns 5% of his wealth, he earns over $5 billion a week, over $740 million a day, and $30 million an hour. The average American earns $53,490 a year and has a median net worth of $121,000. Something is wrong here.
I’ve been on a city committee and a budget committee, so get an idea of what it costs to make things work. This year, our city got so mired in the mud that we couldn’t cross the city. It is difficult to maintain the roads and to pay salaries of less than $1,400,000.
Elon Musk’s fortune would rule our city for nearly 200,000 years. Or maybe Musk’s fortune could go to our five-city school district, where it would only last for 7,500 years.
Of course, this is unlikely to happen. So what should happen to wealth exceeding the GDP of all but 48 of the world’s 192 countries? Of course, Elon Musk gives a few billion and his beneficiaries are happy to get it. But that does little for the growing wealth disparity between the richest and the poorest. That doesn’t do much for a nation with people living on the streets, with nearly irreparable roads, with understaffed schools.
The United States must enact higher income tax and social security rates for the top 1%. Maybe we need laws like the monopoly laws passed in the early 20and century, which would prevent any individual from controlling so much corporate wealth.
Until that happens, too many people wait out their days with nothing to do and no place to live.