this assumes the weakest possible form of a wealth tax. a progressive wealth tax would tax the increase of wealth on the margin rather than just "wealth". expe

this assumes the weakest possible form of a wealth tax. a progressive wealth tax would tax the increase of wealth on the margin rather than just "wealth". experience equity gains of $1M? you owe an extra $10k in liquid cash at the end of the year. if your equity doesn't grow, you don't get taxed. in any event, the floor for these kinds of laws would likely be above the ceiling of most people's lifetime wealth accumulation.