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Nye Bevan

(25,406 posts)

36. How would illiquid assets be valued under your proposed law?

Mon Nov 18, 2013, 12:15 AM

Nov 2013

And what do you think the reaction of billionaires living in the United States would be if a law was proposed to put them in prison unless they reduced their wealth to less than or equal to 1 billion dollars? Thinking through all of the implications, would you expect that the net impact on the US economy of this would be positive, or negative?

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Oughta be a maximum wage as well as a minimum wage law [View all] fadedrose Nov 2013 OP

I fully agree gopiscrap Nov 2013 #1

What would your max be? nt hack89 Nov 2013 #2

Ten times minimum wage - TBF Nov 2013 #6

Not there yet so it works for me hack89 Nov 2013 #9

Personally I don't think they'd even have to limit salary - TBF Nov 2013 #10

++++ fadedrose Nov 2013 #63

I've said that so many times. Blue_In_AK Nov 2013 #3

Jeff Bezos (Amazon) has a salary of $81,840 per year. Nye Bevan Nov 2013 #4

Do you know what Amazon stock options are worth? TBF Nov 2013 #8

All that would happen would be more stocks and bonuses. RC Nov 2013 #5

I don't see how that's constitutional. Why not just reinstate a marginal tax rate cali Nov 2013 #7

That would work fadedrose Nov 2013 #16

Can't put a dollar amount on that, but what might work... MANative Nov 2013 #11

No (nt) bigwillq Nov 2013 #12

+1 Decaffeinated Nov 2013 #13

No? fadedrose Nov 2013 #15

awesome idea FirstLight Nov 2013 #14

I'll settle for $13 at a minimum Prophet 451 Nov 2013 #24

The federal poverty line is a joke though Cal Carpenter Nov 2013 #25

I didn't know that Prophet 451 Nov 2013 #30

...and yet FirstLight Nov 2013 #31

100% qgree. I'm radical enough to say that no-one ought be a billionaire. WinkyDink Nov 2013 #17

I'd rather have a resource-based economy than TBF Nov 2013 #18

Some DUer--I think maybe it was grantcart--once said that no one should be so rich tblue37 Nov 2013 #39

Heh. I just said that, too, in the "Do you hate the rich?" thread. WinkyDink Nov 2013 #43

So you're saying there's no way to legitimately earn more than your maximum... brooklynite Nov 2013 #19

Sure, glad to. PETRUS Nov 2013 #22

Is she a 1%er???? Bluest4t3 Nov 2013 #28

She is...she works hard and her legal experience is heavily in demand. brooklynite Nov 2013 #33

Around $250,000 is what the maximum income should be IMHO. Bluest4t3 Nov 2013 #46

Maybe she works harder to earn a larger share... brooklynite Nov 2013 #47

Anywhere in the country that amount would provide a decent living. Bluest4t3 Nov 2013 #49

welcome to DU gopiscrap Nov 2013 #44

Stephen King makes around 30 million a year. Dr. Strange Nov 2013 #20

And he earns it. I have no issue with it. n-t Logical Nov 2013 #29

And Charles Koch has a net worth of over 45 billion. Is that too much...? LanternWaste Nov 2013 #52

The current laws tax income. Dr. Strange Nov 2013 #54

Start from Half-Century Man Nov 2013 #21

I would limit inheritance to 2.5 million a person gopiscrap Nov 2013 #45

I went with half again my yearly limit Half-Century Man Nov 2013 #53

How do you recoup investment? Lurker Deluxe Nov 2013 #70

This is why I said "start"....Now to work out the details Half-Century Man Nov 2013 #73

I'd rather it was a ratio than an absolute cap Prophet 451 Nov 2013 #23

What if they were the same? n/t PowerToThePeople Nov 2013 #26

And this is why people hate liberals! Tax them I understand. But no limit. n-t Logical Nov 2013 #27

+1 dionysus Nov 2013 #58

No tax loopholes and a realistic progressive tax system would do it. Capitalism ALWAYS RKP5637 Nov 2013 #32

I publically pledge that if and when I ever own my own company... wundermaus Nov 2013 #34

Isn't that kickstarter funding a form of income ? karadax Nov 2013 #59

Wages and/or income are not the same as wealth. Cleita Nov 2013 #35

How would illiquid assets be valued under your proposed law? Nye Bevan Nov 2013 #36

Assets are assets on the balance sheet liquid or otherwise. Cleita Nov 2013 #37

They usually accumulated that wealth through criminal and borderline criminal activities anyway. tblue37 Nov 2013 #40

I truly believe it because it's the way the system is set up. Cleita Nov 2013 #41

Agree. That kind of wealth concentration is socially destabilizing. lumberjack_jeff Nov 2013 #69

Max wealth law. Share Our Wealth. joshcryer Nov 2013 #38

2 rules are needed Joel thakkar Nov 2013 #42

Make it a ratio like the Swiss proposal, of 1/12, and include all options and bonuses. diane in sf Nov 2013 #48

So if one makes all the money they're allowed to by April, hughee99 Nov 2013 #50

AKA a cap in production. karadax Nov 2013 #62

So paying the doctors LESS is the solution to keeping them working on all year? hughee99 Nov 2013 #64

You would not believe the crap that the SEC is getting for proposing disclosure requirements Gothmog Nov 2013 #51

This is close to wonderful news... fadedrose Nov 2013 #57

The last thing the parasites want is for the suckers they fleece to know just Egalitarian Thug Nov 2013 #65

I'm trying to make as much as I can Boom Sound 416 Nov 2013 #55

pffffffff....... I've always liked the idea... but... sibelian Nov 2013 #56

that sounds like a plan that would never work here rbrnmw Nov 2013 #60

The really rich people do not make their money from wages. FarCenter Nov 2013 #61

Wouldn't a substantial increase.... NCTraveler Nov 2013 #66

The problem isn't maximum *wage* it's maximum *income*. lumberjack_jeff Nov 2013 #67

Excellent point. The entire tax code needs to be trashed and re-developed from zero. Egalitarian Thug Nov 2013 #68

Exactly. The wealthy (1%) haven't got that way from wages. It's dividends and such that stevenleser Nov 2013 #76

I love this idea. liberal_at_heart Nov 2013 #71

I like having a CEO's wage tied to his lowest employees' wages. EOTE Nov 2013 #72

I don't understand what you are proposing FreeJoe Nov 2013 #74

What I was proposing was an impossibility fadedrose Nov 2013 #75