Michigan’s Socialist Progressive-Democratic Party candidate for Senator, Abdul el-Sayed, is a poster child for socialism’s Know Better ideology. He’s claiming now that

[m]ost billionaires don’t park their money making more businesses. They park their money in the stock market. That is not meaningfully investing in opportunity. It’s just investing in other billionaires.

Not only is el-Sayed completely ignorant about how rich folks gained their wealth generally, he’s completely ignorant of how they grow their wealth. (I’ll leave aside the shibboleth that they already have “enough” wealth and shouldn’t be looking to earn more.)

He’s also insisting he’s the primary, if not sole, arbiter of what constitutes meaningful investing. The folks who got their wealth by investing in their own way in areas of their choosing don’t know as much about it as he does, and so he must direct their investing for them.

El-Sayed’s position is insulting to us average Americans in two ways.  One is that we’re too stupid to manage our own financial affairs; his Socialist Government must do that for us. The other is that we’re stupid enough that we cannot see his self-absorbed arrogance in representing himself as Knowing Better how the Evil Rich should deploy their assets than do those Evil Rich, or that he won’t be coming after us later.

Bonus third insult: that we’re stupid enough to believe he’s not as economically ignorant as he really is.