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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Replying to @paulg
Wealth also compounds. 2% is less than the longterm inflation adjusted returns of the S&P 500 index. Your analysis is very misleading, since a person with $50M will end up with much more than $50M at the end of their life, even adjusted for inflation, even after a 2% wealth tax.
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Replying to @Tyler_The_Wise @paulg
You can just give the government shares in the company, if you can't find an investor willing to buy them at the price you want. This isn't a hard problem to solve.
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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
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Replying to @noahlt @deapthoughts and
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 
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