What would you say to a National Billionaire's Day?

What would you say to a National Billionaire’s Day?

I wonder whether it would actually raise more money than a wealth tax.

Why?

Because a wealth tax incentivises people to avoid paying it. And if you’re a billionaire, you’re probably very good at avoiding tax.

So what if, instead, we incentivised people to pay? What if we made it feel good to pay?

The ultra-wealthy already spend huge amounts of money on status, recognition and legacy.

They put their names on university buildings. Museums. Hospitals. Foundations.

Not because they have to, but because public recognition matters.

We already know they’ll spend hundreds of millions putting their name on things. So why not channel that instinct into funding the country?

Imagine a National Billionaire’s Day.

Anyone who voluntarily contributes above a certain amount gets publicly recognised. The amount they contribute is published, everyone can see what it funded, and the country celebrates the contribution.

Maybe there are naming rights too. Roads. Bridges. Public buildings.

If I had a spare billion, you might even find the M40 renamed the Chris Meah Highway.

Even better, if roads were named after billionaires, you can bet that they would make sure there’s no potholes on them 🤣 and probably better services too.

And the more tax you pay the more recognition you get. You might find that rather than hiding wealth people find it to get one up in the rankings 🤔

Let’s put aside what the government would actually do with the money… that’s a separate conversation for another (long) day.

The point is simple: people respond to incentives.

As Charlie Munger famously said, “Show me the incentive and I’ll show you the outcome.”

If the goal is to raise more money for the country, should we optimise for what feels fair, or for what actually changes behaviour?

If this raised more money than a wealth tax, would you support it?

Or would you still choose the wealth tax?

There’s definitely more issues than just raising the money (such as avoiding a type of economy where it’s like the game monopoly, and one person ends up with all the money), but let’s focus on the wealth tax / raising money discussion for now.

I’m interested where people land on this.