Why Rich Celebrities Love Democrats

From Ricochet via H/T at Instapundit:

Last week, my wife told me that Michael Stipe, the lead singer for one of the favorite bands of my youth, had opened a rally for Senator Bernie Sanders. I knew the guy was an insufferable lefty, but it still got me thinking about why rich celebrities love to support socialists, seemingly against their own interest.

And then I realized — like a snail coming late to a conclusion that everyone else has long since reached — that it actually is in their best interests to support these policies because “income redistribution” — as opposed to “property redistribution” — doesn’t impact the already-wealthy all that much. Rather, income redistribution is a tax against other people becoming wealthy.

Analysis: True. James Delingpole once dubbed it “the drawbridge effect” — “You’ve made your money. Now the very last thing you want is for all those trashy middle class people below you to have a fair shot at getting as rich as you are.”

Never could make sense of this before, but this argument seems to make a lot o sense.