If you start a successful startup in your twenties, a 2% wealth tax with a $50 million threshold means that over the course of your life the government will take 65% of your stock. Why so much? A wealth tax compounds. http://paulgraham.com/wtax.html
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wait really? you can just name a price/valuation for your company, then tell the IRS "I don't have any cash but take these shares which I promise are worth the cash even though nobody will buy them"? brb creating a company for shares to pay the IRS
I don’t know if you’re being intentionally stupid, but obviously you wouldn’t pay taxes on your liquid wealth in kind. You pay in dollars for your liquid wealth and pay in kind for wealth that is hard to determine the value of.
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Even if they figure out a way to avoid half the taxes it’s still a better situation than the one we’re in now
End of conversation
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