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A comment on Majority of Americans favor wealth tax on very rich: poll. Parent comment
But you don't have as many assets as you started with.
Your total assets are relatively liquid, divisible assets, like cash, combined with relatively illiquid, indivisible assets, like your house.
So instead of chopping off 1% of your house every year and giving it to the government, you give them the value of 1% of your house in cash.
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But you don't have as many assets as you started with.
Your total assets are relatively liquid, divisible assets, like cash, combined with relatively illiquid, indivisible assets, like your house.
So instead of chopping off 1% of your house every year and giving it to the government, you give them the value of 1% of your house in cash.