>I am saying that it lessens your ability to grow your wealth at an exponential rate. It mitigates the miracle of compounding growth. It doesn't mitigate the m

>I am saying that it lessens your ability to grow your wealth at an exponential rate. It mitigates the miracle of compounding growth. It doesn't mitigate the miracle of compounding growth any more than a capital gains tax. A capital gains tax of 50% combined with inflation would completely mitigate the compounding growth of any many investments. For some easy numbers: take an interest bearing account that pays 10% interest. A 1% wealth tax and an 11% capital gains tax are functionally equivalent. And Elizabeth Warren's wealth taxes don't even kick in until $50 million. So the vast majority of people should prefer that to increasing the capital gains tax or setting to income tax rates. >Think about if you create a startup and you have to sell shares to pay your wealth tax. What if Larry Page did that in 2001. He wouldn't be out the $100 of the stock price in 2001. Today he is out thousands of dollars of what it would have been if it could have grown. That's just an absurd way to frame things. My grandparents paid $500 in income tax 70 years ago. If they had been able to invest that they would have thousands. If he sold shares, someone else would own them, so someone else would have those thousands of dollars, it's not like the value would just disappear into the ether.