A reminder that he's behind Build Canada and Build Toronto, and that Build Toronto's Eric Lombardi is running for the Ontario Librral Party leadership as we speak.

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[–] phoenixz@lemmy.ca 1 points 18 hours ago (1 children)

Why?

Why 100 million?

I get that the number of 10 million is arbitrary, hell, I just semi randomly picked it, but a 10 million net worth gets you A LOT more than you actually need.

Why allow 100 million, though? 10 million is more than any person would need to love an actually full life with travel and plenty of whatever, and you could still invest some money in a small company. Want a bigger one? Join a bunch of people and make a bigger one.

100 million gets into the range where youncan project power over others and that is the entire thing that got us where we are. No person should hold large amounts of power, humanity has shown over and over that that is a very bad idea.

[–] ProudCanadianCitizen@lemmy.ca 1 points 17 hours ago

Inflationary pressures and regression towards the mean. Whatever the cap is, it will also be a cap on the mean. That is, the cap will pull the mean up towards it. I mentioned lottery prizes. Some have been in the $60 - 70 million dollar range. I think this is an indication that people generally are no attracted to having a wealth in this range, and are comfortable with the idea. That is, people generally think $70 million is something they would like to have, so a cap of $100 million would be more palatable. That cap is just above the limit most middle class people would consider as 'super rich'. As an aside, there are some super-homes that go for $50 million in our large cities. It is more about psychology than economics.