Quote:
Originally Posted by Itse
I feel like a billion dollars is pretty safe upper limit on the sense that it's so ridiculously high that there's really no danger to anyone.
Like, sure, you can for example own stocks that are worth a lot but can't actually turn them into usable funds for reasons. What ever. At one billion dollars no one is going to be living in poverty.or even mild discomfort that could be made better with more money.
I also don't think anyone, the government or anyone else, can be trusted to be particularly smart.
Which is a point for limiting personal wealth. Money is power, especially when we're talking billions.
No single person should have that much financial power. Ten people owning a billion dollars is better than one person with ten billion.
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The argument for a wealth cap on individuals sounds good in principle, but how would it actually be implemented and enforced? I think it would mostly result in billionaires hiding more of their money in the Cayman Islands, etc, to avoid having to declare how wealthy they truly are. Also, what would you do about corporations which stash massive amounts of cash and keep it on hand?
It just seems like there would be all kinds of ways for the ultra wealthy to get around the law.