Billionaire venture capitalist Tom Perkins came up with a controversial idea to change the American system of voting Thursday night. At a public forum at San Francisco's Commonwealth Club Perkins suggest that only taxpayers should have the right to vote and the more taxes people paid the more votes they should have.
Perkins, who was in the news last month for sending a letter to the Wall Street Journal comparing the treatment of "the 1%" to the Nazi's attacks on Jews, seemed to know he was inviting more controversy. He offered his taxation plan as a response to a question by moderator Adam Lashinsky (Editor of Fortune) by saying his idea would, "make you more angry than my letter to the Wall Street Journal."
Perkins brought up the fact that Thomas Jefferson wanted to limit voting to land owners, but eventually the vote was given to everyone.
But basically the idea was that you had to be a taxpayer, or a person of property to vote. That went by the boards. Margaret Thatcher tried to change that in England in what became called as a poll tax. The idea was that every single citizen had to pay something in taxes, even if they got it back in subsidies elsewhere, and if you didn't pay something in taxes you couldn't vote. And she was thrown under the bus by her own party for trying to push that through. So the Tom Perkins system is: You don't get to vote unless you pay a dollar of taxes. But what I really think is, it should be like a corporation. You pay a million dollars in taxes, you get a million votes. How's that?"