Comment by defertoreptar

That's one way to look at it. Another way is to say that if wealth tax offsets growth exactly, then the government has taken the difference of what your wealth would have been after 60 years. For example,

  1 - 1000*(1-.01+.01)^60 / [1000*(1+.01)^60] ~= 45% taken from the government

Which is the same as the author of the article found.