My point is really that wealth taxes are not inherently destructive. Switzerland offsets the wealth tax by not having capital gains tax.
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Swiss politics is aware of this and many cantons are introducing measures to not tax early-stage startups at hopeful valuations. You really only get hit with the full wealth tax on your stake once the company makes Real Money.
Hm. The particular problem I'm pointing to isn't the risk/tentative nature of value in early stage ventures... it's that if you're taxed as a % of total wealth & all your wealth is in your company, you can technically be "getting richer" while still losing control of your company
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If we are talking about a mature company, the idea would be that you pay yourself enough in dividends so that this doesn't happen. It's important that the tax rate is low, sub-1%, so even a low divided keeps you even.
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Maybe the fundamental philosophical difference to a US point of view is that you don't have an unconditional right to property. Everything in Switzerland ultimately is sanctioned by the community (village, canton, confederation).
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