this post was submitted on 24 May 2025
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So you want billionaires hoisted up by their figgins as a warning to the rest of the bourgeoisie?? That's what I'm hearing here.
I think we should have a maximum wealth cap. Set it as an even 1000x the median annual household income. That is the type of money that even the most highly paid wage earners - like anesthesiologists, would struggle to amass if they worked overtime their whole careers, lived like paupers, and invested every penny they made. That would be about $80 million today. Anything above that would be taxed at 100%. And no, I don't give a shit about your $80 million "family farm."
But truly obscene levels of wealth? Like 10,000x median household income and above? If we had a wealth cap, and you evaded it, and secretly collected a fortune 10x the cap? A felony whose penalty is 20 to life.
We don't let people own atomic bombs. We don't require you to have an atomic bomb license, or only let really nice moral people own nuclear weapons. We simply don't let individuals own nuclear weapons, as the risk of such power in a single hand is simply too great.
And yet, we let people amass fortunes that they can use to do far more damage than any nuclear weapon. Someone like Musk or Bezos, completely on their own, can absolutely cause suffering and destruction on the level of a nuclear bomb.
No one should have that type of power. Period. That power should only be obtainable through free and fair elections. We need a maximum wealth cap. 1000x median household income. Having a billion dollars should be absurd as owning your own nuclear bomb.
Damn that is very well put. I thought I knew where you were going with that analogy -- like that there are just some things we don't allow people to have. But the comparison of the power of a nuclear bomb and 11 digit wealth is really really good.
No matter what you do with that kind of wealth, it is a level of force that should not be wielded without the consent of the people it will affect.