Which means what you give back to society compounds. Do you see that as a problem?
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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How do you know govt allocates it efficiently as a CEO of a startup?
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Say goodbye to entrepreneurs if this ever becomes law.
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I'm an entrepreneur and support a wealth tax wholeheartedly. I know many others who do as well.
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as physical roads crumble.....
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And schools have to hold bake sales to fund things like equipment for science classes.
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One day I hope to have rich people problems.
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Rich people problems are oftentimes a broader social problem. A wealth tax depreciates the collective wealth that we own.
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Will anyone choose not to build a successful startup due to this?
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No, but why would you reside in a location that doesn’t want you to succeed?
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