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
-
I see where the math is off, the tax is on wealth over 50 million. This seems like very few people will be affected, and most definitely, not outrageous. You would need to have a hundred million dollars before you pay the first million dollars of this fresh tax.
As it says in the essay, that number is assuming a threshold of $50 million. With no threshold, the number is 70%.
-
-
This Tweet is unavailable.
- Show replies
-
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.