Just wait until you go full "make billionaires illegal" rather than just a progressive tax rate. Look I'm not saying its fair, but if you had $200 and the govt makes > $100 illegal are you just going to hand it over? Many wont. Outlawing wealth is not the way.
They already pay taxes when they have capital gains or income or own property or spend money on goods. Tax them more if you want, but they'll eventually take their wealth somewhere else that treats them better. Its basic supply/demand economics. It isn't fair but that's life.
Sure but you get to live in the house and occupy the physical space. You can't live in a stock portfolio and it won't keep you warm at night. I also agree with you that property taxes are unfair and we shouldn't be taxed on estimated value of our wealth but solely on our investment gains.
Why that random arbitrary number? Why should you get to be arbiter of 'too much'? Billionaires and any other investors are already taxed when they sell their stock. Why do we need to tax them again on estimated values of their assets?
It's an investment. the wealth hasn't been made yet and you already paid taxes on the money you invest. Why would anyone ever make an investment if they were taxed before they could make a return? Would you invest if I told you to pay taxes up front for the wealth you 'might' one day make?
You want the government to force people to sell equity in the company they founded? Sounds like authoritarianism to me. Would the government have to give them the taxes paid back when the value of their company decreases?
