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Billionaires shouldn't exist. Their fair share is more like 95%.
how about they can keep whatever the total minimum wage equivalent for 40 hours a week 50 weeks a year times how ever many years they were in business.
And if 95% still leaves them with more than you have you will feel that that rate needs to go higher.
I don't agree with that. I'm personally completely fine with millionaires or perhaps even 100 millions. Like there should be a social safety net at the bottom there should be a social safety limit at the top even if it is very high and more wealth than anyone could reasonably need. Because beyond that point it's not they are just getting more wealthy. Everyone else is getting poorer for it.
Well, I'm not so sure about that. If you take that wealth and let the government decide how to spend it, you are assuming it will reach those who need it. I'm not so sure that is the case.
In the current US it would probably go to an even more bloated military budget or other ridiculous projects to line the pockets of people with government connections.
I think the idea is more a long the lines of paying workers more. Instead of shareholders and executives holding 99% of the value of a corporation the workers would take home a much larger portion. Who knows how well that would actually work in practice. Either way I'd prefer multi-billionares forfeit all their wealth exceeding a billion and give it to the government than doing nothing at all. Maybe at least "some" of that could be spent on social programs such as healthcare.
Well I suspect we are looking at this problem through a very simple lens. The billionaires are not necessarily using that money. It is out there being invested and also being loaned out to start new businesses startups etc. if you just handed it to the government assuming it will be better spent or invested is a big leap.