Yes, no one needs more than $10 million. But there are legitimate use cases for wealth far beyond that. Let’s imagine someone develops an immutable cryptocurrency tool that is used globally to track political spending and keep governments honest. Hypothetically, this tool revolutionizes transparency and unravels corruption on a massive scale. Shouldn’t the creator of something so transformative be allowed to enjoy significant wealth—enough to provide for their family, loved ones, and even those who helped them along the way?
That kind of lasting wealth—the kind that lets someone own $10 million estates worldwide, fully staffed, with taxes paid indefinitely—is realistically covered at $1 billion. It’s feasible at $100 million, but it’s not at $10 million. A $10 million cap is “personal freedom money,” but it’s not “dynasty money.” And while dynasty wealth can be problematic, it’s also worth acknowledging the good that such wealth has sometimes enabled.
I love it when athletes, for example, use their success to buy their parents a million-dollar home or fund life-changing initiatives. If we cap wealth at $10 million, it prevents figures like LeBron James, Cristiano Ronaldo (love or hate him), Serena Williams, David Beckham, or even Rob Dyrdek from reaching the level of wealth where they can fund truly transformative projects.
Allowing higher wealth ceilings enables people who do reinvest in society to make a broader impact. Sure, some of these incentives are tax-driven, but the outcome still benefits society.
I get that not everyone uses their wealth for good. But there’s a meaningful gap between a $10 million cap and a $1 billion cap where good things can and do happen.
10 million is significant wealth that provides for family and loved ones. Unless maybe you’re the Duggar family.
The great thing about a 10 million dollar cap is it doesn’t prevent you from getting more money. You just have to shift money first. And if you can’t shift it fast enough then the IRS steps in to do it for you.
No compromise because you didn’t give any example where 10 million isn’t enough.
I mean yes and no.
Yes, no one needs more than $10 million. But there are legitimate use cases for wealth far beyond that. Let’s imagine someone develops an immutable cryptocurrency tool that is used globally to track political spending and keep governments honest. Hypothetically, this tool revolutionizes transparency and unravels corruption on a massive scale. Shouldn’t the creator of something so transformative be allowed to enjoy significant wealth—enough to provide for their family, loved ones, and even those who helped them along the way?
That kind of lasting wealth—the kind that lets someone own $10 million estates worldwide, fully staffed, with taxes paid indefinitely—is realistically covered at $1 billion. It’s feasible at $100 million, but it’s not at $10 million. A $10 million cap is “personal freedom money,” but it’s not “dynasty money.” And while dynasty wealth can be problematic, it’s also worth acknowledging the good that such wealth has sometimes enabled.
I love it when athletes, for example, use their success to buy their parents a million-dollar home or fund life-changing initiatives. If we cap wealth at $10 million, it prevents figures like LeBron James, Cristiano Ronaldo (love or hate him), Serena Williams, David Beckham, or even Rob Dyrdek from reaching the level of wealth where they can fund truly transformative projects.
Allowing higher wealth ceilings enables people who do reinvest in society to make a broader impact. Sure, some of these incentives are tax-driven, but the outcome still benefits society.
I get that not everyone uses their wealth for good. But there’s a meaningful gap between a $10 million cap and a $1 billion cap where good things can and do happen.
Can we negotiate to $500 million as a compromise?
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Yeah I’m down with that concession.
Let me say fuck anyone really who can’t get here?
I’m allowing more than I am comfortable with on lyrical of argument.
500M is not only ridiculous but achievable given our agreement.
10 million is significant wealth that provides for family and loved ones. Unless maybe you’re the Duggar family.
The great thing about a 10 million dollar cap is it doesn’t prevent you from getting more money. You just have to shift money first. And if you can’t shift it fast enough then the IRS steps in to do it for you.
No compromise because you didn’t give any example where 10 million isn’t enough.