this post was submitted on 20 Aug 2026
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Still using the wrong terminology and as long as we do, the problem will persist. The rich don't need to pay a fair share. The upper middle class needs to pay a fair share. The rich need to be taxed out of existence. They are dangerous to civil society. Numbers should be set, ie: no individual should have any business having more than 10 million in cash and 250 million in assets, or whatever. I understand this is an oversimplification that doesn't take into account business entities, etc - but it's not like smart people couldn't sit down and hash out what's appropriate. Ultimately, beyond the limits set, you either divest and/or turn the money back to your employees/shareholders - or you will give it to the government in the form of seizures and taxation.
Until such time as something like this is undertaken, we're just playing footsie with the problem.
If 'assets' includes publicly traded stocks then they're essentially the same as cash at those kind of numbers. You only need "immediate" cash for purchases under about $100k, anything bigger than that you can typically wait for the sell order to go through.
But overall that number looks about right; $350m is just about the ceiling where it's literally not possible to spend it all on things for yourself. It could buy you the most expensive house ever sold ($240m) plus the most expensive new car ($40m) plus the world's most expensive watch ($31m), and still leave you enough for a median-priced fully staffed private island ($10m), an 82' yacht ($7m), a small private jet ($12m), and you'd still be a deca-millionaire at the end of it.
Anyone spending more than that isn't spending it on things, they're spending it on power.
Kim Stanley Robinson goes into a great deal of detail about this idea and other similar economic ideas in his Mars trilogy. For example for large projects where you would need a great deal of capital, companies(which are limited in size by law) would be allowed to form temporary cooperatives for the duration of the project(subject to approval and oversight, of course). It's definitely worth reading.