Very nice example, and you can clearly see how market distorting the wealth tax is. In a post below you wrote it triggers from $175k, but the value of a propert

Very nice example, and you can clearly see how market distorting the wealth tax is. In a post below you wrote it triggers from $175k, but the value of a property is only counted at 25%. Purchasing property is essentially a tax avoidance mechanism to avoid the wealth tax on cash, and in turn leads to a massive property bubble (probably because the wealth tax cap is relatively low, and it hits a lot of people / families). Even if you don't really want to invest in property, it makes sense to do so, because otherwise you'd just be paying wealth tax. Add to that that you can probably lever it up easily (e.g. buy something with 20% down) and.. you get a recipe for disaster at some point.