Re: Its late stage capitalism at its very finest
No it's definitely capitalism.
Corrupt third world countries start off like this, but capitalism doesn't. It has been gradually getting heading in that direction.
The taxation analogy is a good one. These super-rich people want to do no productive work at all and receive an income stream from the patents, rights and licences they have purchased.
Where it differs is that tax gets spent on defense, health, schools, roads which benefit a lot of citizens, not just one rich person and their family.