I think it's better for people to stop working when they get pretty rich, like $20mil. People should stop working when they get rich enough to pay for an awesome life, and give someone else the chance. And if they actually enjoy working, they can do it pro bono.
I do not trust the uber rich to mind their own business and stay out of other people's lives.
Making money is generally a positive sum endeavour as long as you're not generating unpriced externalities such as carbon pollution, and as such I don't like the idea that rich people stop working after they're rich. As long as they're not creating externalities we want them to continue building and contributing to society. It's a much better alternative to them relaxing on a yacht somewhere, which contributes nothing.
It's also inaccurate to think that making money by building crowds out other people from doing so. The opposite is the case. It's the same mindset behind the "immigrants took our jobs" train of thinking.
What about just charging income tax on inheritance (but allowing deferral of tax recognition of windfall income over a period of, say, up to 10 years from the date of receipt.)
