Righteous commerce & wealth creation are good but aristocracy isn’t. Aristocracy when govt policy makes it easier for the very rich to get richer & harder for anyone else to even survive. That trend has been going on for 40 yrs and it needs to stop. Put 2% tax on $50M, 3% on $1B.
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Doesn't work...you are confusing wealth with income. Gates, Buffet, et. al. have the value of their assets grow. Until liquidated it isn't income. They are illiquid. Is a house worth the $400k for prop tax, $700k for insurance, $500k in a quick sale, or $600k in a year?
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Wealth isn't taxable in a viable way, income doesn't exist unless there is a liquidating transaction. You seem to be taxing income as if it was wealth.
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