Comment by __turbobrew__
6 hours ago
> wasn't the accrued billion dollars the remainder after being taxed at a much higher rate (around 50% federal and state, if California) as it was being accrued?
Most capital owned by billionaires is not taxed until it is sold, so in the case of Hashimoto and others they most likely have not paid tax on the majority of their wealth.
> How would the "very small wealth tax" be calculated, that you propose?
In the same way we calculate income tax, we make it up. Most numbers I see are between 1-3%. We could just start at 1% as that is the most conservative number.
He has this wealth as a function of having sold the equity in the company he co-founded, so in fact virtually all his wealth has already gone through a tax event at the federal and state levels.