If a billion dollar asset ceiling is set in the world - then is progressive taxation still needed

 If a billion dollar asset ceiling is set in the world - then is progressive taxation still needed?


There are about 3000 billionaires in the world, of which the richest, Elon Musk, has a fortune of 342 billion.


So he would lose the most, or 341 billion.


Wouldn't such a situation mean - that with a billion dollar asset ceiling, the number of billionaires would multiply.


And there would be almost no need for progressive taxation at all.


So - a billion dollar asset ceiling would be good news for all Finns who are trying to get rich.

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