> You don’t have to remain the owner of this hypothetical derelict house. This is the explicit endgame of any wealth tax. The ergodic nature of market returns

> You don’t have to remain the owner of this hypothetical derelict house. This is the explicit endgame of any wealth tax. The ergodic nature of market returns ensure most people experience individual downturns that would wipe them out if they had the “drag” introduced by a wealth tax. The wealth will simply accumulate in the hands of those with the best lawyers and who can stay ahead of regulations and move wealth into protected assets.