Out of concern with inequality, he says:
"The accumulation and cross-generational transmission of wealth in the United States has gone way too far. When a young hedge-fund manager can take home a sum reminiscent of the gross national product of a small country, something is askew. When a self-made entrepreneur can accumulate enough money to, in effect, purchase that country, something is totally out of whack. It’s impossible to deny that market fundamentalism has gone too far.
There are two modest and generous ways to change this situation. First, no single person should be allowed annually to take home more than 100 times as much money as the average worker in a society earns in a year. If the average worker makes $40,000, the top compensated individual may keep $4 million a year. Any income in excess of that amount must be contributed to a charity or returned to the government, either as a general gift, or targeted to a specific line item (ranging from the Department of Veterans Affairs to the National Endowment for the Arts).
Second, no individual should be allowed to accumulate an estate more than 50 times the allowed annual income. Thus, no person would be permitted to pass on to his or her beneficiaries more than $200 million. Anything in excess must be contributed to charity or donated to the government."
There are so many criticisms to be made here that I'm not sure where to start. I'll just focus on one. If we did this, I wonder how many days it would take for rich people to get their money (and themselves) out of the country? I'd say around .5 days at most.