That's an artificial distinction. There is no sharp line between "punitive taxes" and just taxes.
Re:Founding vs. Inheriting
by altusbrown on Sunday May 09, 2021 @11:00PM
(#27102249)
No sharp line, but hardly artificial.
If someone gives you a cake, and I take the whole cake it's clearly confiscation no? You got no cake at the end.
If someone gives you a cake and I take a slice (say 25%), then it is clearly not confiscation, since you got cake correct? Not only that, you got most of it.
The more you tax, the closer you get to banning or stopping activity. If a government sets a tax rate of 100% at say a certain threshold, it would be a poor planner that would be earning anything in that category no?