This alludes to an interesting concept about the rich: Can you be too rich?
While the capitalist in me has always said no, times have changed. Way back, I had a friend who made the Forbes 400 most wealthy, it broke in with a $100 M and there were not billionaires. He never stopped chasing making another buck.
Times however have changed and we now have KIDS worth 10’s of Billions. As I look at some of these folks, I see people that cannot ever spend all the money they have, no life style they can live can absorb their wealth.
What seems to occur at some point in wealth is that you no longer chase a buck, there is no need, you and your family are taken care of as far down the road of life you can imagine. Even today we have families living off the wealth of the founder, Ford’s, Rockefeller’s, Kennedy’s and many others, some are well into the 4th and 5 generation. I have a friend now that his great grandfather was a founder of a still successful company. He has never had to work, but has owned businesses mostly to indulge his Ferrari lifestyle and he does some real estate development , nothing major but rather just to work a bit and have a business to allocate his trust fund income to in order to soften the tax burden. Not sure what his income is but noting his lifestyle and knowing him I would say about $250 per year.
The point: At some level you cross the threshold of chasing another buck and working at making your life a bit better and avoiding taxes to thinking and acting more like a govt entity than and individual. G Soros is a great example. He is currently down here in Texas spending money like crazy to change our political landscape from a RED state to Blue. From what I gather he is willing to spend over $100M to do it.
This begs the question, can you be to rich and to that I now answer YES! How much is to rich? For that its hard to say, But maybe $10 Billion??? I have a friend, her father is worth about $10 B according to Forbes. He started out as a roughneck in the oil fields of the Permian Basin, started a company providing oil field services, which grew to 25,000+ employees, sold it, retired to a small ranch here in Texas. He leads a very quiet lifestyle and by all appearances he and his family are just local people in a small town and I doubt most folks have any idea of their wealth.
Perhaps the way to get control of the Soros and others is to simply tax them into it. Your net worth hits $10B and your tax rate is 90% and no deducts past the $10B point.