The point is that he arrived at this conclusion by building up a strawman.
That 26% is over 60 years, ignores the fact that the stock will appreciate over time, ignores the fact that all wealth taxes have high floors, etc.
Re:Modeling a Wealth Tax
by Simon_says on Tuesday August 18, 2020 @10:06AM
(#24198689)
The amount of the wealth tax also appreciates over time.
I read it as deterring start up founders from investing in a region. If they plan for success, then they should plan to exceed the floor.
100M being the most commonly discussed floor. That usually means about 400-500M value of the company
Not ever founder thinks it’s either unicorn or broke . Most normal founders want build something good and make a good amount of money.
And where else I am going to go? There are few places where it is possible to make 100M from scratch and without being corrupt .
All things being equal, people prefer to do business in jurisdictions with lower taxation. I don't see that as a strawman argument.
>"Even a .5% wealth tax would start to keep founders away from a state or country that imposed it. That's more than a quarter of your stock."