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Bezos can keep his job & still find himself newly beholden to more conservative interests with less personal skin in the game. I think this matters — where would SpaceX be? If you're not taking the tax until a sale, it's just a worse capital gains tax that disincentivizes risk.
Long run, this would kill innovative venture in the US. *Maybe* you can trap some extant capital here by threatening to confiscate a huge % of it on exit, but who wants to sign up to gradually lose their own successful business in advance? RIP, this chart https://twitter.com/sknthla/status/1070031703421333504 …
I definitely worry about capital flight under a wealth tax. That's why Piketty argued it had to be done cooperatively with other countries. USA does already tax capital on exit though (when people give up citizenship).
We need to change the nexus of taxation to make it harder for the rich to avoid being appropriate taxation in a more mobile world IMO. But that's a broad issue beyond just a wealth tax.
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