Share Everybody's Success

when you have more money than you can spend in in a lifetime, maybe share some with the rest of us?

1
Wealth Tax Proposal 1
Your First $10 Million
Details

No wealth tax on any net worth less than or equal to $10 million. You did it. You won the American dream.

Example

Your housing plus your retirement account plus your checking and savings are valued at $3 million. Congratulations! No wealth tax for you.

2
Wealth Tax Proposal 2
Your Second $10 Million
Details

Your $10,000,001th dollar and above will be taxed 1% to celebrate your extraordinary capital accumulation abilities.

Your contribution to the public good will be used to mitigate climate crisis impacts and offset health care costs.

Example

You win the lottery and take a lump sum payment delivered as $17 million after income taxes. Assuming no other significant assets exist for you, your first year’s wealth tax will be: $10,000,000 million * 0.00) + ($7,000,000 * 0.01) = $70,000. But, you still have $16,930,000!

3
Wealth Tax Proposal 3
Your Third $10 Million
Details

Your $20,000,001th dollar and above will be taxed an additional 1% to celebrate your supernormal capital manipulation abilities.

Example

This time assume you take a lump sump lottery payment delivered as $27 million after income taxes. Assuming no other significant assets exist for you, your first year’s wealth tax will be:

  • $10,000,000 * 0.00 +
  • $10,000,000 * 0.01 +
  • $7,000,000 * 0.02 =
  • a total social responsibility contribution of $170,000.

After your social responsibility share, you still have $26,830,000 remaining!

4
Wealth Tax Proposal 4
Your 4th through 10th $10 Million
Details

Each $10 million increase in your calculated wealth value increases your yearly wealth sharing obligation by 1% up to a limit of 10%.

Example

Let’s say you sell a company you own 100% for $500 million. Somebody just walks up and gives you $500 million in exchange for a company you’ve spent your lifetime building. Under our socially responsible success sharing plan, your obligation will be:

  • first $10 million is free,
  • second ten million you contribute 1%,
  • third ten million you contribute 2%,
  • fourth ten million you contribute 3%,
  • and so on, up to a percentage cap of 10% for all amounts over $100 million.

After $100 million you pay a flat 10%. The math works out as:

  • $10,000,000 * 0.00 +
  • $10,000,000 * 0.01 +
  • $10,000,000 * 0.02 +
  • $10,000,000 * 0.03 +
  • $10,000,000 * 0.04 +
  • $10,000,000 * 0.05 +
  • $10,000,000 * 0.06 +
  • $10,000,000 * 0.07 +
  • $10,000,000 * 0.08 +
  • $10,000,000 * 0.09 +
  • $400,000,000 * 0.10 =
  • $44,500,000

You still have $455,500,000 left over!