If much of the wealth in the world is fake (due to illiquidity and price impact), that has some implications for how much revenue we can expect to raise with wealth taxation.https://twitter.com/economics/status/1111806621536210953 …
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Replying to @Noahpinion
I think illiquid wealth is better viewed as discounted than fake
7:55 PM - 29 Mar 2019
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