this post was submitted on 22 Jul 2023
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That's a bit of an arbitrary figure. Also wealth isn't really money as much as it is things.
Take a house, for example. You only really need one. The monetary value of the house depends on a few factors, but it's primary value is that it gives you shelter. It probably fluctuates in monetary value but the actual value doesn't change. If you cap wealth based on monetary value, how do you deal with homes in different places that are valued differently? I think it's going to be more complicated than it seels at first glance.
Assuming you mean dollars, since everyone on the internet is American. 10mil seems like a lot all together. But if you had to feed your entire family for the rest of your life on 10mil you might struggle, depending on where you live.
Maybe you mean 10mil income per year and not overall wealth. That's different, but I can understand this. A progressive tax system could impose a cap of sorts but tax avoidance (the legal kind) would render it useless.
I don't have any answers, just felt like continuing the thought train.
1st, don't read to deep into this, It's not even a pipe dream is a barely thought that crossed my mind but ain't smart enough to even process in any meaningful way, but thought it would be ok to vomit here.
I mean total wealth including houses, cars, personal belongings, clothes, groceries, bank accounts, shares at some company, pocket change, everything. Yes, I was thinking dollars. It could be per person. And yes, it's a VERY arbitrary number, but it could be adjusted.
It would be like a rolling cap, if you're at the limit, you could buy food, and after you eat it, that expended budget would be available for you to earn more money again.