That much sale in assets will affect the asset prices themselves. Unless the state is willing to take taxes in the form of assets instead of cash, it doesn't make sense to tax them.
I do wish that just once our politicians (and the voters who are so easily spooked) thought through this issue a bit further than "Billionaires issue threat, we must surrender." There is a point at which taxation can be counterproductive, but we're so far in the other direction that it would take cultural and political changes of decades to get into dangerous territory.
Unfortunately many people are trained to respond along party lines with thinking.
EA-3167|2 months ago
Unfortunately many people are trained to respond along party lines with thinking.