> the ceiling should not be high for you.
have you thought through how you would even operationalize a ceiling on the amount of wealth that someone might control or have?
even a rough heuristic from you would be interesting to consider.
have you thought through how you would even operationalize a ceiling on the amount of wealth that someone might control or have?
even a rough heuristic from you would be interesting to consider.
Closing up loopholes on realizing wealth like by taking loans continuously using your unsold stocks as collateral.
We don't even have to immediately jump to more extreme ideas like a straight wealth tax. We could try doing _anything_ instead of just shrugging our shoulders as we watch people like Musk and other oligarchs take us down the path Russia went in the 90s.
There are only two operational challenges, but if the political will is there, they really aren't rocket science. One is having enough auditors to enforce the tax. The second is liquidity, which can be solved by allowing the tax to be paid in kind, i.e. by allowing it to be paid by transferring ownership to a social wealth fund instead of cash.
So you would take that wealth away from productive application?
Building high speed rail, hospitals and schools. Paying teachers more, universal healthcare, better roads and airports and less free pipes.
Those are all fantastic things that benefit everyone while also creating jobs and spreading the wealth around.
Even Bill Gates has said his taxes should be higher [1]
https://www.investopedia.com/news/bill-gates-says-he-should-...
If you have above a certain amount of wealth, it is usually tied up in investments, sometimes money you have lent to the government (bonds, treasuries) and other times equity. Those are productive applications.
More generally, I'd say the burden is on you to demonstrate the exact mechanism by which productivity would be affected.