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The problem is that once you are super rich you don’t really have an income anymore. You just expand your wealth and you end up paying way less taxes on that.
This is something that the common mortal can’t even think of.
I fail to see the problem with your statement.
50% when you are Uber rich isn’t even that much. In plenty of countries you have that at a much lower level of income. Perfectly doable and fine
So crank it up to 60, 70, or 99%! You don’t need a wealth tax to do that.
Why not both?
The problem is that once you are super rich you don’t really have an income anymore. You just expand your wealth and you end up paying way less taxes on that.
This is something that the common mortal can’t even think of.
You’re delusional. High and UHNW individuals also tend to have high income.
Income expands wealth. Unrealized income will be taxed eventually.
Thank god you’re here to tell us these things. Did you get your accounting degree from university of american samoa too? Please just stop