3 ms·
>Paying a .1% weath tax on a billion dollars for 60 years is cheaper than paying a flat 100,000 per year for 60 years. Do you mean 1,000,000 a year? Because:
by Mirioron 6y ago
>Paying a .1% weath tax on a billion dollars for 60 years is cheaper than paying a flat 100,000 per year for 60 years.
Do you mean 1,000,000 a year? Because:
60 * 100,000 = 6,000,000
1,000,000,000 - 1,000,000,000 * 0.999^60 = 58,263,738
Also, keep in mind that if you want to actually have the money, you will pay the income taxes on top of that.
- shkkmo 6y agoI missed a zero, but you missed the point completely. A wealth tax is simply about higher taxes for those with assets. The compounding nature of that tax reduces the taxes over time so there is nothing to complain about in terms of "compounding". This seems way less egregious than property taxes, which don't go down, are assessed regardless of how much equity the owner has, and are directed at assets that often have far less liquidity than stocks.