Re:Modeling a Wealth Tax
by garmaine on Tuesday August 18, 2020 @11:56AM
(#24200236)
This. The California wealth tax would kill the startup ecosystem in California, simply because every founder dreams of being a unicorn, but being a unicorn puts you in an untenable position of owing a six or seven figure tax bill every year while you have no liquid assets.
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Sounds like the bubble would naturally dry up and the "burn the cash, take the payout and run" culture would start to heal.
Having startups that grow profitable, useful things at a healthy pace and that give back a small slice of their overall growth sounds like a pretty stable business model.