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> If I start a company and it gets valued at 30 million dollars, why should the government be allowed to force me to sell my company to pay their wealth tax? I
by Maarten88 6y ago
> If I start a company and it gets valued at 30 million dollars, why should the government be allowed to force me to sell my company to pay their wealth tax?
I don't know the specifics of this proposal. But I live in a country that has a similar wealth tax, and it doesn't work that way here. When you found a company, its shares remain valued at nominal value for tax purposes, until you sell or transfer them. Only after that they'll be taxed as wealth.
- monocularvision 6y agoThat is capital gains tax. Not a wealth tax.
- Maarten88 6y agoNo, it's wealth tax. I know what taxes I'm paying. Maybe my wording is not very precise, and I'm not a tax lawyer, but I do know founder shares remain valued nominally and you are not forced to sell anything even when your company gets very valuable. https://en.wikipedia.org/wiki/Taxation_in_the_Netherlands#Wealth_tax https://en.wikipedia.org/wiki/Taxation_in_the_Netherlands#We...