General Discussion

The exact limits can always be negotiated, but if there is a wealth tax, I think $50million per household would be a sensible entry point at a modest level and accelerating sharply above the billion dollar mark. A 2% net worth tax above a billion dollars makes good sense. IOW, a person with $1bn in net worth would pay $20M every year and would never miss any of it. If they did decline below $1Bn in net worth, then their share would go down, so none of them would ever feel any pain.

As far as income tax, put it back where it was in 1960 when our middle class was healthy. A high top marginal rate ENCOURAGES investment because investments in your business and work force are deductible. The top bracket in 1960 was 91%. Nobody ever paid that because they did reinvest in their businesses and work force. But a few people did pay 50-60% and that's fine. Keep in mind they only pay that high rate on the topmost part of their income. Even a person reaching the 91% bracket is probably paying only a 50% effective rate.

And let's stop playing pillow fights about Medicare, Medicaid and Social Security. Remove all the caps on that. A billionaire should pay the full rate just like everybody else. And that will EASILY fund Medicare for all and keep Social Security solvent through the end of this century.