Steve Lamar

Just like...

all the charities rich people give to.

So they can just park it?

Private foundations are required to spend 5% each year, but they can just stick that in a donor-advised fund where it can just sit and not necessarily help anyone.

It's kind of unfathomable the impact that so much money could have on the world.

The 400 richest people in the United States could like advance humanity in incredible ways.

They could afford to completely eradicate malaria, provide clean water and waste disposal to every human being in the world, give every American household $10,000, and

Give a four-year federal tax break to all households earning less than 80K.

They could do all of those things and they would all still be billionaires after that.

There's just too much at stake here to let this obscene wealth go unregulated.

So this is Ray Madoff's solution.

Here's how you tax the rich.

Let's simplify the system and have one system for everyone.

The government can bring gifts, inheritances and life insurance into the income tax system where they belong.

Rich people should have to report that stuff.

I do love how you have this, like, come into this.

It's like this invitation.

Yeah, so fun.

The water's fine.

This is the proposal for the super rich.