I would prefer a mixed system. All wealth over 1000x the median household income taxed at 100%. So no one should have a fortune larger than that, a number that would be approximately $80 million today. But if you secretly gather a fortune much larger than that? If you somehow secretly amass a fortune 10,000x the median household income? At that point I would apply severe criminal penalties, like a mandatory minimum 20 year sentence. I don’t want to throw the book at someone just because they accidentally let their fortune grow a bit beyond the limit. But if you’re a whole order of magnitude above it? Then that’s when severe criminal penalties should apply. At some point your wealth becomes so large that you personally become a threat to national security. Amassing a fortune in the billions should be treated like a private citizen trying to build their own nuclear bomb. No one should have that much power, and we should treat both the same.
I’d prefer it was simply prevented via policy rather than punished if breached.
I would prefer a mixed system. All wealth over 1000x the median household income taxed at 100%. So no one should have a fortune larger than that, a number that would be approximately $80 million today. But if you secretly gather a fortune much larger than that? If you somehow secretly amass a fortune 10,000x the median household income? At that point I would apply severe criminal penalties, like a mandatory minimum 20 year sentence. I don’t want to throw the book at someone just because they accidentally let their fortune grow a bit beyond the limit. But if you’re a whole order of magnitude above it? Then that’s when severe criminal penalties should apply. At some point your wealth becomes so large that you personally become a threat to national security. Amassing a fortune in the billions should be treated like a private citizen trying to build their own nuclear bomb. No one should have that much power, and we should treat both the same.