Source: The Dispatch
by Kevin D Williamson
“To get a feel for what a 4 percent wealth tax would mean, consider that the real (meaning inflation-adjusted) long-term return on the U.S. stock market is around 7.5 percent. Taking that as a useful approximation, a 4 percent wealth tax would reduce the return on capital invested in the most common way by more than half. Those with $50 million or more in assets didn’t get that way by being bad with money (except maybe Donald Trump), and you can be sure that their investing behavior would change in response to such a tax. … There are businesses with $100 million in assets that do not make $2 million a year at all, much less $2 million to spare. Never mind that the income produced by those assets is already taxed …” (04/15/24)
https://finance.yahoo.com/news/more-wealth-tax-madness-130300540.html