One of our venture capitalist robber barons thinks this would be a great idea. This snarky Economist video spells out the proposed boundaries. Tim Draper is spending nearly a million dollars to get an initiative to do the deed onto the November ballot, proving that you can force the people to vote on almost anything if you spend enough money. The political pros all think the idea is an electoral nonstarter -- even Draper seems less than serious according to USA Today:
It took the most minimal research to discover that Draper is part of the growing elite of inherited wealth that Paul Krugman discussed in a column today. Draper's father and grandfather were also venture capital investors. Here's Krugman discussing the trajectory of such figures:
A lot of them seem to think having enough money means they can do anything like to the society we all live in together.