I've come to the conclusion that each system, in order to be successful, has to evolve rather than be forced. Socializing the means of production will evolve naturally through AI and automation which was required for it to succeed because no one can accuse a robot of showing off and a robot won't judge you for "being lazy."

I only used the term Maximum Wage as a mirror rhetorical gimmick the minimum wage so Private Wealth Cap sounds good to me. Capping extreme wealth isn't exactly an hourly wage thing although $25M/year is like getting paid 24hr a day $2,854/hr.