10 million is fuck off money. We don’t need to go another 990 million dollars. Just set it to 10 million dollars.
I mean yes and no.
Yes, no one needs more than $10 million. But there are legitimate use cases for wealth far beyond that. Let’s imagine someone develops an immutable cryptocurrency tool that is used globally to track political spending and keep governments honest. Hypothetically, this tool revolutionizes transparency and unravels corruption on a massive scale. Shouldn’t the creator of something so transformative be allowed to enjoy significant wealth—enough to provide for their family, loved ones, and even those who helped them along the way?
That kind of lasting wealth—the kind that lets someone own $10 million estates worldwide, fully staffed, with taxes paid indefinitely—is realistically covered at $1 billion. It’s feasible at $100 million, but it’s not at $10 million. A $10 million cap is “personal freedom money,” but it’s not “dynasty money.” And while dynasty wealth can be problematic, it’s also worth acknowledging the good that such wealth has sometimes enabled.
I love it when athletes, for example, use their success to buy their parents a million-dollar home or fund life-changing initiatives. If we cap wealth at $10 million, it prevents figures like LeBron James, Cristiano Ronaldo (love or hate him), Serena Williams, David Beckham, or even Rob Dyrdek from reaching the level of wealth where they can fund truly transformative projects.
Allowing higher wealth ceilings enables people who do reinvest in society to make a broader impact. Sure, some of these incentives are tax-driven, but the outcome still benefits society.
I get that not everyone uses their wealth for good. But there’s a meaningful gap between a $10 million cap and a $1 billion cap where good things can and do happen.
Can we negotiate to $500 million as a compromise?
Can we negotiate to $500 million as a compromise?
As soon as all the homeless who want help get help then sure.
As soon as workers are paid fairly and not exploited.
As soon as people aren’t dying because they can’t afford life saving medicine.
Look, the rich spend their excess money on stupid shit.
Like Gabe Newell owning 6 yachts.
Like that story of Kim Kardashian flying to Paris just for some cheesecake that she really likes.
Like Nic Cage spending millions on a T-Rex skeleton.
All that money could have went to food banks or social programs.
So, rewarding inventors and company founders with excess wealth
doesn’t benefit society and it really doesn’t benefit them other than
their ego.
10 million is significant wealth that provides for family and loved ones. Unless maybe you’re the Duggar family.
The great thing about a 10 million dollar cap is it doesn’t prevent you from getting more money. You just have to shift money first. And if you can’t shift it fast enough then the IRS steps in to do it for you.
No compromise because you didn’t give any example where 10 million isn’t enough.
