[arconis987]

The 50% tax that pg dislikes for startup founders is basically what I experienced during our startup’s liquidity event. I imagine that a fairly large number liquidity events are the same.

The acquirer paid us out in cash, which meant we were taxed at the highest marginal federal income tax rate of 37%. California taxed 10%, making the total 47%.

I only kept a little more than half of the upside, but it was still life changing.

I had to pay the taxes immediately. In pg’s example, the wealth tax would require payment over 6 decades, which is easier.

The wealth tax seems fine to me.

[erichocean]

> The wealth tax seems fine to me.

It's not a replacement, it's in addition to all of the other taxes you already owe.

And if it's anything like the income tax in the United States, the percentage owed will increase dramatically over time and the floor will be lowered dramatically over time. The goal right now is just to establish the principle.