Microblog Memes

I'd like to see a soft cap implemented that's tied to the nation's average income (I think median would be the most fair, but it's very possible I'm wrong). So for instance, the real median income in 2023 was about 80k according to census.gov. Let's say we cap total wealth at 500x that median which = 40 million, after which taxes make it increasingly difficult to accumulate wealth, and have a yearly earnings soft cap of 100x = 8 million with similar restrictions.

I think that would drastically reduce inequality while still preserving different economic classes, which I think are critical to motivating people into difficult, high-value jobs like engineers and surgeons. Stacking up 500 years worth of income would let the rich stay wealthy, and a soft cap would discourage hoarding and encourage spending which stimulates the economy and spreads money around. If the wealthy wanted to be able to earn more per year or raise the soft cap they'd have to arrange for the average income to go up. Moreover, I that increases across many people at the bottom would move the median more than a few large increases at the top, which would encourage a higher "floor" for earnings.