Paul GrahamVerified account

And you seem to be ignoring the fact that anybody with that much capital will be earning more than 2% annually on the vast majority of it (if they wish to invest it).

If you can't make 2% a year on wealth over 50M... I guess you kind of have no business to hold that much wealth.

This is the best argument I have seen on this issue. But the problem in your logic is that you assume there are no other options. There are nearly 200 countries on this planet, and people with these kinds of net worths can, and will, move. Look at European wealth tax collapse.

Paul, would you be willing to update the article with the net worth of said founder after 60 years? If my math is right, in the case where the government takes 93% of your shares, you still end up with 300 million dollars. That doesn't feel too bad.

Past a certain level of ambition it most definitely would.

damn looks like rich people will have to keep actually working, just like everybody else on earth

well i mean the proposed floor is $50M, so maybe they could live on that, but every year that's worth less and less... Maybe we should tie it to the minimum wage as a multiple of it!