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Yes, if you put all of your money yield free under your mattress and do nothing for the rest of your life than this is accurate. And only as long as you have over $30M under your mattress. https://twitter.com/paulg/status/1295711080833048578 …pic.twitter.com/LqwG3lKutH
I'm assuming the shares become more valuable because the company reinvests its earnings in growth. I assumed that would be understood when talking about a startup, but apparently not...
Throw an actual net worth, a floor below which the tax is not in effect, and a 5% average rate of return and show us just how much of the rich people’s money the bad folks are taking vs their wealth. Cry me a river paul.
that's kind of a lot to assume given the percentage of startups that make it 5 years much less the full course.
Who does differently?
You missed my point. I was giving your general complaint the most generous context. https://twitter.com/zavaindar/status/1295825976727949312?s=21 …https://twitter.com/zavaindar/status/1295825976727949312 …
Challenge is losing control over your company. You could still get wealthier each year, but you might have to gradually sell stock to pay wealth tax, thus losing control.
Another way to think of this is as inflation, but only for wealthy people. We are all subject to a few points of inflation, but people above a certain level of wealth would be subject to a few more.
If you need 60 years to show «the dramatic effect», how dramatic is it really? The startup founder is now in her 80s and has other things on her mind.
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