The problem I have with taxing wealth is this. Let’s say you start a company, it blows up and becomes the next Amazon or whatever. You own most of the company still, or at least a controlling share in it.
Should you be forced to sell away some of your ownership in your own company just because the market values that ownership and voting power to be worth billions? Personally I don’t think so. There is a reason these big companies like Amazon, Apple, Tesla, etc can’t exist outside of the US, the owner would be forced to sell away their company just to pay for taxes on money they don’t have.
The problem I have with taxing wealth is this. Let’s say you start a company, it blows up and becomes the next Amazon or whatever. You own most of the company still, or at least a controlling share in it.
Should you be forced to sell away some of your ownership in your own company just because the market values that ownership and voting power to be worth billions? Personally I don’t think so. There is a reason these big companies like Amazon, Apple, Tesla, etc can’t exist outside of the US, the owner would be forced to sell away their company just to pay for taxes on money they don’t have.
You have a much higher chance of becoming homeless than hitting the black swan lottery.
What does that have to do with anything? Should I only care about what’s best for me, no matter how much it screws someone else?