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this post was submitted on 13 Nov 2026
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Alrighty, here goes -
Taxes on annual income -
0 upto 1st quartile of the distribution
5% on part 1st quartile to median
10% on part median to 90%ile
20% on part 90%ile to 99%ile
40% on part 99%ile up
Taxes each year on wealth -
0 upto 50M USD
1% on part 50M to 100M USD
2% on part 100M to 200M USD
3% on part 200M to 400M USD
4% on part 400M to 800M USD
5% on part 800M to 1.6B USD
6%... Keep going, you get the pattern
Up to 50 million at 0%? That leaves most of the wealth in the country untaxed.
Wealth tax should start at about 5 million, indexed to median income. It should get pretty heavy before 100 million. Otherwise what's the point? The billionaires as a class don't own shit, there aren't that many of them. Millionaires (mostly baby boomers) own everything.
Somewhere between 10M and 100M, you get infinitely wealthy - which is what I call when you and your descendants can have a comfortable lifestyle from low risk bonds forever. I want the wealth tax to be the tool to remove such a situation.
It's an example, personally, I think anything over 10 million should be taxed at 100%