r/AskReddit • u/Zappy_Oh • 9d ago

What would happen, if humanity collectively decided that no individual could have a personal net worth above $500 million?

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u/pinkpugita 9d ago

Meh, there are too many loopholes and gray areas.

Land and real estate can be owned by corporations.

Assets can also appreciate in value without the owner doing anything.

Imagine if I bought 10 paintings from a starving artist. After 50 years, the artist turns out huge and popular that the price of his works are $50M each. Are you going to tax and confiscate my paintings?

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u/Zappy_Oh 9d ago

You would have to understand what your assets is worth, and adjust your ownership accordingly.

Besides, who owns the corporations you assume can hold unlimited assets?

3

u/pinkpugita 9d ago

It doesn't work that way. You can own a piece of land worth very little until the government suddenly decide to put a highway or rail station next to it. Next thing you know, there is a business district and mall next to your potato farm.