I don't follow this argument. The amount of money is fantastic and its effects enormous but I don't see why it should be out of the reach of any singular person.
The issue of effectiveness shouldn't come into play at all. In a society with any modicum of freedom, I should be able to decide what to do with my resources. Why should I (or anyone else) get to weigh in on whether she gives her money to this college or goes to Vegas for a (really amazing) party? As long as she pays her taxes, she should be free to use the rest for whatever she wants. If the issue is whether she pays her taxes, then by all means we can tighten whatever loopholes exist but after all is said and done, people should be able to do whatever they want with their wealth.
Also, legislating billionaires out of existence is impracticable. People would simply put their resources into other vehicles that shield against the law. We would end up in a cat and mouse game that used up resources with dubious benefits.
The issue of effectiveness shouldn't come into play at all. In a society with any modicum of freedom, I should be able to decide what to do with my resources. Why should I (or anyone else) get to weigh in on whether she gives her money to this college or goes to Vegas for a (really amazing) party? As long as she pays her taxes, she should be free to use the rest for whatever she wants. If the issue is whether she pays her taxes, then by all means we can tighten whatever loopholes exist but after all is said and done, people should be able to do whatever they want with their wealth.
Also, legislating billionaires out of existence is impracticable. People would simply put their resources into other vehicles that shield against the law. We would end up in a cat and mouse game that used up resources with dubious benefits.