At which point, GDP growth sinks like a rock, and those rich people become poorer in absolute terms. It's the typical outcome in the vast majority of autocracies. It's all over development economics literature, based on purely empirical studies. There's little reason to believe that the US is somehow an outlier. Weaken trust in the system, go from a system of laws to a system of deals, and watch growth go away, with all the unrest that brings.

A pity that so many people in SV only read what flatters them.