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What about a business that is worth 10 million dollars but has a bad year and makes no profit. So now the owner has to pay a tax on the 10 million dollar wealt
by naveen99 9y ago
What about a business that is worth 10 million dollars but has a bad year and makes no profit. So now the owner has to pay a tax on the 10 million dollar wealth and liquidate his business ?
- baursak 9y agoWhy would they liquidate their business? I'm not advocating for a 100% rate. If they continuously lose money year after year, then the wealth tax would just be an additional incentive for them to shutdown, yes.