But presumably we're keeping the functional electric vehicle infrastracture, reusable rocketry, a browsable and searchable web, online purchasing, and same-day delivery for absolutely everything, because finders keepers, right?https://twitter.com/BernieSanders/status/1176481898685710337 …
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This is a completely false argument since in a world where 500 million dollars makes you the richest of the rich, those who innovate solely for riches would clamor to get there. 500 million dollars is an obscene amount of money even in a world with Jeff Bezos.
If I put a notch on the wall for every person conflating stock ownership with cash, I'd carve straight through to my neighbors in no time.
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I'm not sure how this affects the argument. The ways in which wealth is gained and held makes the prospect of somehow disallowing it a very complicated issue but the fact remains that the promise of glitch-in-the-Matrix levels of wealth is not a necessary incentive to innovation.
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If your wealth is your ownership stake in your own company, a 5-8% annual tax will force you to sell your controlling interest in a matter of years. No sane person will start a high-risk company where even the best case scenario is that it's sold off piecemeal in under a decade.
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