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Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place

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Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

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Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

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Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

Most Americans Think the Current Economic System Is Skewed Toward the Wealthy, Says Study

By
Erik Sherman
Erik Sherman
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By
Erik Sherman
Erik Sherman
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January 29, 2019, 8:35 AM ET
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People see the U.S. economy as rigged for the wealthy and they want a presidential candidate willing to do something about it, according to a new poll from Axios.

Attitudes toward the economy usually have a major influence on the outcome of elections. According to the data, 90% of Democrats and 71% of Independents want to vote for a presidential candidate in 2020 who will reform the economic system. Even 49% of Republicans agree.

Donald Trump claimed the system was rigged when running for president, and Bernie Sanders made a splash with the same message in 2016.

The attitude has been building over time. A 2017 Pew Research Center poll found that 41% of people in the U.S. thought that life was worse than 50 years before, while only 37% said it was better. The ratio was far more negative than such countries as Japan (15% worse to 65% better), Germany (20% to 65%), or Australia (33% to 50%).

There’s more perception of racial disparities as well. A Gallup poll in January 2018 found that the number of Americans who thought that blacks had the same opportunity to get a job as whites was at a low since before Martin Luther King’s I Have a Dream speech, although it was still 61%. And 67% thought blacks had the same opportunity as whites to get any housing they wanted within their budget, a low point since Gallup first started asking the question in 1989.

Another twist is that 61% of adults between 18 and 24 have a positive attitude toward socialism, versus 58% toward capitalism. And for those between 25 and 34, 58% are favorable to socialism, with 51% positive about capitalism. The next cohort—35 to 44—was 38% with a positive reaction to socialism and 56% toward capitalism. That might signal a door opening, over time, toward a shift in underlying economic models in the country.

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