4 ms·

Sometimes, I think there should be a law on how much money, wealth, assets, equities, and properties that people can have. Say, lock it down at $10 million USD

Sometimes, I think there should be a law on how much money, wealth, assets, equities, and properties that people can have. Say, lock it down at $10 million USD, or to some ratio of the national minimum wage. Once you get that much, then you must tap out. Live the rest of your life in the sunset, but you can no longer accrue any more money or wealth. And if you want to accrue more, then you must be in some non-profit business where your mission is to spread the wealth, and to create a better society for all. Then, your maximum level can be bumped up to $100 million (or to some higher ratio of the national minimum wage). This concept of unbridled and unbounded capitalism has severely gone too far. The rich and the wealthy are seriously misbehaving, and they need to self-regulate and reign in their excesses, before the public gets fed up with their misbehavior, and vote in politicians that will force a policy change on them. LOL. I say that, and I laugh, because we all know that the politicians are just the fox guarding the hen house, and they’ll never let this happen. As John McCain said, the people are waging class warfare on the rich. The thing he forgot to mention, is that the rich are slaughtering the rest of us.

mbar84 7y ago
What do you think of Warren Buffet, Bill Gates or Elon Musk? It seems to me, that relative to their wealth they spend a negligible amount on themselves. I don't see them filling garages with luxury cars, building empty palaces, buying frivolous expensive watches etc. In other words, they're not binding up economic resources such that everybody else is materially impoverished. In no way do I see that they are slaughtering us and to the contrary, it seems that they are effectively stewards of the wealth that they have accrued. I don't think it's a horrible system for those that have proven themselves in the past to be good stewards, to continue to be allowed to do so. Even if I'm wrong about my judgement of any individual or even if these people are not representative, could you think about modifying your position to at least focus on the principle I'm trying to get at: A billionaire who lives like a pauper, should not be treated the same as one who lives like a spoiled prince. You could for example advocate for luxury consumption taxes on mansions, yachts, cars, jewelry etc. rather than taxes on capital.

mbar84 7y ago

What do you think of Warren Buffet, Bill Gates or Elon Musk? It seems to me, that relative to their wealth they spend a negligible amount on themselves. I don't see them filling garages with luxury cars, building empty palaces, buying frivolous expensive watches etc. In other words, they're not binding up economic resources such that everybody else is materially impoverished. In no way do I see that they are slaughtering us and to the contrary, it seems that they are effectively stewards of the wealth that they have accrued. I don't think it's a horrible system for those that have proven themselves in the past to be good stewards, to continue to be allowed to do so. Even if I'm wrong about my judgement of any individual or even if these people are not representative, could you think about modifying your position to at least focus on the principle I'm trying to get at: A billionaire who lives like a pauper, should not be treated the same as one who lives like a spoiled prince. You could for example advocate for luxury consumption taxes on mansions, yachts, cars, jewelry etc. rather than taxes on capital.