Right, I would say the limit should be “no billionaires” so that if your net worth including investments exceeds $999M then you have to sell off some property or give money to the taxman until you are under $1b net worth. $999 million is still more money than anyone would ever need but just having no billionaires would be a great start.
I’d say make a progressive scale such that 1 billion is the theoretical limit, meaning you would need infinite gross/pre-tax wealth to exceed 1 billion in net wealth after taxes.
I think the limit is in the millions.
Honestly 50 million is plenty for any individual.
Yeah, that sounds about right. Okay, so that’s that settled. What’s next?
Right, I would say the limit should be “no billionaires” so that if your net worth including investments exceeds $999M then you have to sell off some property or give money to the taxman until you are under $1b net worth. $999 million is still more money than anyone would ever need but just having no billionaires would be a great start.
I’d say make a progressive scale such that 1 billion is the theoretical limit, meaning you would need infinite gross/pre-tax wealth to exceed 1 billion in net wealth after taxes.
That’s still probably too high, but its a number nobody can object-to. Would be easy to pass that law in a democracy.
Even 1 billion works. You have to make it high still, or everyone will say “bu-bu-but that’s communism”