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This meme has become popular on social media, lately. #billionaires #recycling #humor #economics #press
![Text meme: I think, every year, the richest person in the world should be sacrificed & their wealth distributed to the poorest among us. The rest of the year would be billionaires scrambling to distribute their wealth in an attempt to ensure they aren't the one to [be] pushed out into the ocean next year.
Is that radical enough for you?](https://files.sfba.social/media_attachments/files/113/402/853/207/469/193/original/45ed8adf41ac448a.png "Text meme: I think, every year, the richest person in the world should be sacrificed & their wealth distributed to the poorest among us. The rest of the year would be billionaires scrambling to distribute their wealth in an attempt to ensure they aren't the one to [be] pushed out into the ocean next year.
Is that radical enough for you?")
@johnlogic@sfba.socialUp until about 1964, the highest income tax rate in the USA was >90%.
Rather than pay that much of their income to to have the government distribute it anonymously, many chose to start giving through institutions while putting their own names on them.
Since then, a few have been motivated to do so for marketing and/or vanity, because there's less financial incentive.