Consider this. It would take 1,000 millionaires to match a billionaires fortune. This means that, currently, it would take 180 x 1,000 millionaires to match Elon Musk's wealth... That one hundred and eighty thousand (180,000) millionaires to equal Musk's wealth.
And, yes I know his wealth is not all liquid, but does it matter if his wealth is in dollars, Rubles or any other means of exchange? Ultimately he has more money than he will ever need. He has more money than his children will ever need. If every child Elon ever had lived to the ripe old age of 100 years, he could have 1,800 children and each one would still have one (1) million dollars to live off of every year. Now, since Elon only has 10 children, that means they will have to squeak by with a mere $180,000,000 million dollars per year for the next one hundred years. THAT'S ONE HUNDRED AND EIGHTY MILLION DOLLARS FOR THE NEXT HUNDRED YEARS!
One simple solution would be to increase the taxable percentage to much higher rates so no one could ever control so much wealth. This never leads to a higher standard of living for most people. This higher tax rate would also go for businesses that refuse to pay those employees who have help said company make more in profits year over year. The rationale behind this is that, while the founder does deserve credit for creating the business, their employees deserve credit for growing the business. If a company has no employees, they can only grow to a certain extent.
One final point, I would like to make is that, the Government is tasked with protecting it's citizens which includes their wealth, health and property, but the U.S. government has failed on all three fronts as fewer Americans can even afford a $400 emergency, the life expectancy has been declining in America and foreclosures are once again on the rise. It seems as if the only wealth, health and property the U.S. Government is protecting these is that of the rich, so maybe the rich should be paying a much, much larger amount percentage-wise to find things like the military.
