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.
The argument for billionaires is “why should the government be allowed to set arbitrary caps on the amount of wealth you can accumulate” which I generally agree with, but it’s clear that wealth hoarding has become a problem. Maybe we say that the most you can keep is 1 billion. Once per year, any personal wealth over 1 billion is surrendered. So you can earn as much money as you want, but you need to spend it or surrender it.
The argument for billionaires is “why should the government be allowed to set arbitrary caps on the amount of wealth you can accumulate” which I generally agree with, but it’s clear that wealth hoarding has become a problem. Maybe we say that the most you can keep is 1 billion. Once per year, any personal wealth over 1 billion is surrendered. So you can earn as much money as you want, but you need to spend it or surrender it.