Rephrase of what I think you're trying to ask: Should a society allow any person to accumulate wealth and power in the amount that today's billionaires have?

There's a huge amount of socioeconomic theory and history behind this apparently very simple question. In general, I think there's a lot more benefit to all of us when advances do not flow entirely into the hands of a few people. Taxation has been the major form of wealth redistribution in the western world for a while now - since the Gilded Age robber-barons decided that helping society by building libraries, museums, and universities was preferable to having the government take 95% of money they made over a certain high amount.

The current system has been so perverted by that accumulation of wealth and power in the hands of a few that it's become self-reinforcing, and is backed up by educational "reform" and propaganda from end to end. The result is that while the world may be continuing to get better overall, it's either stalled, or is actively getting worse for many of us normal folks.

Without writing a novel, I think it would be a good idea to tie tax brackets to the poverty and average income levels, and then tax anything over like 100x the baseline amount at 99.98% or so. Also close all the tax loopholes like borrowing against assets being untaxed even if it's the only source of income. Try to re-balance the system for all of us, and add as much buffer as possible to keep it from being re-fucked by those dragons hoarding all the gold.

At "Billionaire" (or even hundreds of millions of dollars) levels of wealth the government should implement a different tax scale based on net worth. Simpler and harder to manipulate. An annual minimum tax bill of 1% of your net worth that cannot be reduced, offset, deferred or otherwise mitigated per billion annually to do buisness in the country, per country.

Just stop them rorting loopholes. I think people would probably hate billionaires a whole lot less if they just paid a FAIR amount of tax.

Edit: actually the math works pretty much all the way down. Everyone should have a minimum income tax bill every year of 1% of their net worth with the only exemption being your primary residence.

I would like progressive rules that make it very difficult the higher you get but theoretically allow people to dream of vast wealth. Sorta like a soft cap in an mmo. Im talking taxes here of course.

People who think billionaires should exist generally don't believe in the common good as much as they believe in Big Strong Man IS Cool and Sexy. Or they don't know how labor works

Billionaires in themselves aren't the problem. The circumstances creating them are. And not taxing them appropriately even more so.

If competent people were in charge, you'd benefit greatly from their taxes.

Its not that billionaires should or shouldn't exist. Its the corrupt system that creates and protects them from citizens negatively impacted by their existence that needs to be addressed.

A: they shouldn't

Though I think the real issue with combating that is scale. These fuckers have the whole world available to them.

If their country raises their taxes to 99%, they just flee.

You can't have one country implementing reforms while others sit idly be, because of that...so it's really hard to make a reform, then lose X massive amount of investment from these soggy fucks that would pull out their investment money just out of spite, then somehow justify the move when business starts corroding in your country - in the short term of course...because in the long term I'm sure it's beneficial.

But with how things are going nowadays I wouldn't be surprised to see them fighting back too. I'd expect a fight on all fronts, from political, to economical, to societal, against any country that tries that sort of thing...

They're such a fucking plague.

Sweden has more billionaires per capita than USA.

Billionaires existing does not mean you can't have a reasonable social welfare state. You're wasting your time thinking taxing away billionaires will solve anything.

Billionaires aren't the problem. They aren't good, but even eliminating them would not move the needle.

The only real fix for a significant portion of the current affordability problems is a sizeable Land Value tax. Henry George was mostly right, he wrote that shit out for us more than century ago, and we're still ignoring him while we fuck everything up because we keep treating land as this giant pyramid scheme of investment.