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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And it hasn't stopped people from buying, building, or profiting on real estate. Why have a wealth tax that primarily impacts the middle class through real estate taxes, but not on extreme wealth?
You wouldn't expect property taxes to stop people from buying and selling existing buildings, since they affect the purchase and sale price equally.
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But new buildings and other improvements are only affected on the developer’s sell side and yet new buildings still get built. Startups would still get started with a wealth tax. How many YC founders would give up if there weee a wealth tax?
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I think ending your points with question marks is working against you.
End of conversation
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