We may be looking at the birth of a new aristocracy, and in a generation or so, the rest of us will be working for them or paying them rent. Her name is Ray Madoff, and I was intrigued because she talked about the “second estate.” Back in Europe, that’s what they called the aristocracy. You don’t get the second estate without creating it through giving them wealth, and that is exactly what we are doing in the United States right now. Ultimately, we need to tax wealth.