Standing in his way is a bow-tie-wearing physicist who loves classical Japanese poetry and is heir to a Berkshire Hathaway fortune. Charles Munger Jr., son of the late billionaire investor Charles Munger, has already poured $30 million into opposing the California governor’s efforts to revamp the state’s congressional districts in favor of Democrats. Munger is a Republican, but his crusade is far more about fighting gerrymandering than party preferences.
We need a 100% wealth tax on everything over $200,000,000.
We will give you a medal stating that you won capitalism and then it is time to move on to a different hobby.
Try $10 million
Why 200mil specifically?
Because wealth over that value does little to improve your quality of life (actually far less than that, but this is a generous cap).
And what does what you wrote have to do with the specific number OP wrote?
I wish we lived in a world where people were arguing where the 100% tax kicks in, if it’s at 100 mil or 200 mil, etc. If that was our most divisive issue we would all have 4-day workweeks, guaranteed universal basic income, and maybe even dental care we can afford.
Also depending on how you calculate that it’d basically be the amount a machine shop or small factory is worth.
Hopefully the rest is owned by the workers of that factory. Zero tax then.
It should be a multiple of minimum wage. Also we should have a maximum wage as a multiple of minimum wage. Tying them together will give the rich some incentive to raise the minimum wage