Zohran Mamdani says 'I don't think we should have billionaires'
Mamdani, the presumptive Democratic nominee to be the next mayor of New York and a self-identified democratic socialist, said Sunday billionaires contribute to inequality.
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Nobody should have a right to more than, say, 10 million dollars. Any worth over that, tax it at 100%.
Similarly for companies, tax them dynamically. Ybr bigger the company, the higher the tax. At, say, over a billion dollars, tax it 100%. Limit company sizes to 1000 employees.
This way, nobody is too big, nobody is too powerful, nobody is too rich
10 million seems low only because there are realistic things that can cost more than that. Nothing an individual could buy costs a billion. That’s the heinous part of billionaires in my opinion—it is just numbers on a screen for them to measure their dicks with. No realistic change of lifestyle is happening after the first billion, yet they continue to inhale dollars out of greed and habit.
Bezos is halfway there; his yacht cost 500 million:
https://en.m.wikipedia.org/wiki/Koru_(yacht)
Give it a few more years and I bet one of them will buy a a billion dollar yacht. But in an ideal world, such absurdities wouldn't exist.
wrong.
you can buy a lot of political favors
Musk just spent 250 million to buy an entire presidential election. Is there any history of someone spending a whole billion on one?
But he paid $40B for twitter. $250M is the kind of bargain you only get after prior investment.
(And I guess I found something an individual can buy for >$1B, which is even more reason to prohibit anyone from having this much money.)
I don't like the idea of limiting company size - there are a lot of advantages of scale. Instead let's say any company over 1000 employees must be fully employee owned
At that point you might as well just go full socialism; 1000 people is just a mid-sized factory.
Yeah but what about Elon?
Make the tax scale into an exponential multiplier. Two companies? Double taxed. Three companies? Your taxes are now cubed. So on and so forth.
Maybe subsidiaries of larger conglomerates should be taxed this way as well, take giants like Nestle and Unilever down a few pegs.
