This is a very interesting topic that explores economics in a new way. The basic concept is to take from the rich and give to the poor, but a step further. Allowing everyone to be millionaires by capping how much everyone has.

Below is based on the book Limitarianism by Ingrid Robeyns but sparks a larger conversation. ***Spoilers Below***

I understand the logic behind this given the state of the world but it seems like pure fantasy. I do not want to be negative about it but the explanation for implementing this strategy was weak. I want to see the good in the efforts being discussed but an argument must be made to get the people in question involved. 

How can SMART goals be brought into the conversation? Much of this was a lot of venting and not enough strategy. I learned some things for sure but not enough to trust that anyone other than the author and a select few could possibly believe in this philosophy. I have a plethora of questions that I am awaiting answers to but have a feeling that they will not come.

Those who are supportive of this cause are nothing more than “talk.” Who begins the journey if so many people are serious about the initiative? I can only see this becoming government-regulated and not an independent state. Who funds it? Sure, we expect everyone to be decent human beings but I’m envisioning Hunger Games taking place. If the money all cycles back down to the government then that seems more dangerous. 

If there are fewer poor then this wouldn’t need to be a discussion (this is not my mindset, I’m speaking in general). But really, who determines the cap? Who determines how much? Do the rich donate the extra so others meet the cap, do they burn the money, or do they spend until they hit the cap? The latter would not apply to people like Gates, Musk, or Bezos, obviously, so that would not work, either. It seems redundant for excess money to be donated. If everyone is “rich,” What would be the benefit of service-focused companies? 

This goes back to my frustration with the book. Can we get more ideas about the”how?” 

“I don’t know” is not a valid answer when throwing around a topic such as this one. There has to be more thought than what is being listed. What is the process? The idea is to eliminate poverty and discrimination by everyone being “equal’.”

Great, that fixes the economic part but what about the other aspects that take priority (race, gender, identity)? To claim this idea would fix these problems would be naive. If the privileged boys club put their savings together then they could create the toxic culture that we have today and none of this would have gotten us anywhere. Of course, we would not know what the “rules” are but we have to entertain the possibility of joint accounts being created. Is that allowed? Does it break the law? 

Another annoyance that I have with her is that she has a hermit mindset. Her perspective is that people should eat, sleep, and change the world. She believes that money should not be spent on expensive items. Who is she to tell someone what to spend money on? Even with a cap, no one wants to only focus on daily survival. What a dull life. “If it isn’t benefiting the economy then you don’t need it.” What? Goofy. 

My interpretation quotes, and questions that I gathered: 

– The rich call it “envy tax” since it disproportionately taxes the rich. “If you’re focused only on the rich, then you must be jealous.” Maybe. But how long have the rich been disproportionately taxing the poor? A huge part of her argument is that the rich don’t “deserve” their wealth. I’m not rich but I can’t say I agree with this. Similarly, I can’t agree that when the rich splurge on something that “normal” people find absurd, they aren’t entitled to do so.

– Don’t just shout your political opinions. Know ‘why’ you’re shouting about it. The rich try to blend in unless they’re around other rich people.

– Do rags to riches get a pass? Many rich efforts go to their own “charitable” organization therefore back into their pockets. So, how do we avoid this happening even with a cap? She does a lot of complaining about what the rich deserve but does not specify what is considered “deserving.”

In her mind, no one deserves anything regardless of working for it or inheritance (whew, don’t get her started again on that tangent). Ex: There’s the rich and the super-rich. One has more than they need and one has more than they deserve. None of these topics include illegal or corrupt affluence. 

– Should the rich be required to “make the world better?” Who determines what “better” means? The government? The rich? The poor? Random selection? Every group comes with confirmation bias. 

– How does monetary gain correlate with happiness and a good/quality of life just because that’s her version of it? Similarly, should celebrities be morally required to be role models? 

– How does all of this impact those who do not wish to contribute to society? Living off the government, “trust fund babies,” criminals, etc. 

– Latinos make up a 5th of the population but less than 3% of all wealth. African Americans make up 14% and less than 5% of all wealth. No surprise about who the majority goes to. “White people benefit from this racial division of wealth.”  What’s the alternative, if there is one, to limit extreme wealth and pivot poverty? 

– “As long as you continue to make money then you’re supporting a broken system that is unfairly skewed.” What??? So because you want to make more money you’re contributing to a broken system. What is the solution/fix? Again, overlooked. 

– To say no one is deserving seems harsh and the money isn’t rightfully owned. But, she’s on to something. If it were, we should see more balance and not just primarily one dominating race or gender. I know I am all over the place with my agreement but there are pros and cons. 

– What about inherited wealth? If there is a cap, does that include giving away funds? If that’s not allowed, who gets the extra? Does it fall into a trust? She touches on this, but her solution? No one deserves to be wealthy because they didn’t “work” for it. So much for gift cards. =0

– What about the disabled? Then it dives into discrimination territory. Some people have more debt than others. Do they get to keep more money or do they still fall into poverty due to the cap? She barely mentioned the disabled or growing up in poverty but basically stated that it doesn’t matter because anyone is capable of making a living. Yet, her examples were Oprah Winfrey and JK Rowling. Wait, what? They aren’t disabled. Terrible examples. And, if you’re familiar with their rise to fame, you’ll see why. Nothing to do with actual poverty. 

– Her blurb about inheritance tax versus bequeath tax is intriguing and I’d have to look into this.   It’s very similar to Matthew Desmond’s mindset but I find myself agreeing with his perspective more. At what age does the taxation begin? Are young adults capped as well and given a wage? 

– “There is an unspoken wage penalty for being unattractive.” Wow. It’s likely true but wow. I suppose that no longer matters with this new focus. 

– I agree that CEOs, directors, and senior leaders obtaining more pay is a load of bs. I’ve always felt this way about entertainers as well. I still do not understand how someone can scribble a bunch of jibberish on a notepad for a few hours, and spout that nonsense to make millions…

I cannot get on board with this “work-to-survive-only” mentality. Ex- “… At some point, you’ll have everything a person needs. There’s no point in having 20 pairs of shoes.” She then goes on to talk about how having a Van Gogh painting is better. Wha! Because you like ancient artwork everyone else should? At least shoes are more useful than a painting you only look at in passing. 

The logic is understandable but telling people what they should spend their money on based on her own preferences is ridiculous and I’m sure that Van Gogh’s painting costs way more than 20 pairs of shoes, ma’am. If everyone gets an “allowance,” what’s the point of working? You could argue that everyone just makes the same amount for working but what about the nomad who refuses to work? 

My thoughts were very scattered here as I was nodding my head in agreement and shaking it in “wtf do you mean?”

I’ll leave you with this lovely quote that she has for the rich: If you want to go to/live in space, at least leave your money on Earth.” 

I have so much more to add/discuss but I’ll leave it to reflection for now.