I think wealth should be capped at a few million or tens of millions. Too much wealth hoarding keeps money out of circulation at the consumer spending level, which is bad for the economy in general, especially lower income people.
Without knowing anything about a person and how they became a billionaire, I have no opinion on them individually. Jumping to conclusions about someone based on the group they belong to (like say, a black guy walking down the street) is bigoted thinking, no matter who the target is.
I’ve always liked the idea of you can get $999,999,999.99 after that 100% tax rate and you get a plaque that says “Congratulations, you won capitalism”
I feel that eventually somebody will crack the problem of how to reward people for beating capitalism. Various zillionaires have said that at some point money ceases to be a motivating factor. They’re driven by other things, and by the time they personally become super wealthy they’ve already achieved all the things that are going to benefit society. Further wealth accumulation beyond that point wasn’t their goal, and I really don’t think a wealth cap would deter those people or deprive the world of their achievements at all.
I’ve always liked the idea of you can get $999,999,999.99 after that 100% tax rate and you get a plaque that says “Congratulations, you won capitalism”
I feel that eventually somebody will crack the problem of how to reward people for beating capitalism. Various zillionaires have said that at some point money ceases to be a motivating factor. They’re driven by other things, and by the time they personally become super wealthy they’ve already achieved all the things that are going to benefit society. Further wealth accumulation beyond that point wasn’t their goal, and I really don’t think a wealth cap would deter those people or deprive the world of their achievements at all.