To curtail and equalize the political power of the rich with the rest of world, their wealth have to be reduced to such an extent that they also don't have the leisure to engage in deep politics. Let's say, if 75% of the voting population has < $x and if even 1% has 3x of that, then they basically have 2x leisure buffer over everyone else to be more politically engaged and influence the small number representative politicians, to manipulate the narrative for the rest of the 75% etc.
Re:Modeling a Wealth Tax
by eanzenberg on Tuesday August 18, 2020 @12:51PM
(#24201017)
They would leave, though. There’s evidence of capital flight in high tax regions of Europe.
If they are motivated by the desire to build, they would still build. If they are motivated by the desire to beat their peers in a game of "Who Has The Most Money," they would still compete. The winning number would just have fewer digits. If they are motivated by the power money buys, well, maybe the rest of us are better off not playing that game.