Modeling a Wealth Tax
paulgraham.com
paulgraham.com
The threshold. EW's proposed wealth tax only applies to the money you have above $50M.
You can argue it's bad policy, but it seem pretty disingenuous to argue that being taxed on the amounts they earn above $50M would be demotivating for founders.
California is trying to put forth a law that will apply wealth taxes 5 years after you leave. No way am I going to risk moving to California then, when Texas has much fewer taxes and ones that aren’t applied after I leave