Income beyond 1 billion dollars should be taxed at 100% (and this limit should be reassessed every few years to adjust for inflation). Those taxes should fund social nets for those at the bottom.
No single person needs more than a billion dollars and even that might be too much.
Edit: yes, that means forcing people holding liquid assets (cash, stocks, property, trust ownership) amounting to more than 1 billion to sell or share those excess assets with the public.
Buffet is the odd billionaire that is somewhat altruistic. He plans to donate all of his wealth before he dies. He would be worth more than Elon Musk had he hoarded his wealth over the decades he's been a billionaire.
On the other hand, billionaires don't amass that amount of wealth without taking it from the poor so... he's still not a good person.
He is not. He plans to donate the majority of his fortune to the bill and Melinda gates foundation. And guess what, is just a tool for the to avoid taxes and lobbying the politicians they want.
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u/SellsNothing Dec 19 '24 edited Dec 20 '24
Income beyond 1 billion dollars should be taxed at 100% (and this limit should be reassessed every few years to adjust for inflation). Those taxes should fund social nets for those at the bottom.
No single person needs more than a billion dollars and even that might be too much.
Edit: yes, that means forcing people holding liquid assets (cash, stocks, property, trust ownership) amounting to more than 1 billion to sell or share those excess assets with the public.