Wow, this ignores both the "floor" below which you would not be subject to the wealth tax (in the US, most recently by Elizabeth Warren, this has been discussed as $50M+), and ALSO fails to take into account that you would be growing your principal at ~3-8% a year through investment, etc.
Sure, I guess with no floor on the tax and with your money just literally sitting in a pile, the government would eventually take a lot of it.
Sure, I guess with no floor on the tax and with your money just literally sitting in a pile, the government would eventually take a lot of it.