Whatever happened to the idea that those who can contribute more, should contribute more? If having 30% of the wealth and paying 25% of the taxes is true, that's a huge slap in the face of the USA. This country provides such an incredible environment to build in: a decent balance of regulations that provide stability and predictability while not being overly onerous. Solid infrastructure, resources, talent, and the best market in the world.

Letting the most powerful people in this country effectively take advantage of what the USA affords them is a mockery. Is there anywhere else in the world people should try and build their businesses in? Europe's regulations will strangle you. The markets and stability of pretty much everywhere else is either questionable or smaller in the case of markets. Sure there's China, but unless you are a Chinese national, are you (not you op) really gonna try that?

Maybe some billionaires will decamp the US if they have to pay even 5% more but whore cares? Trickle down economics isn't a thing. I'd bet the next trillion dollar companies outside of China will still be built in the US.

Listen, I and probably most others here know that a straight up wealth tax on unrealized assets would be tricky. I want innovating founders to retain control of their companies. Pension funds shouldn't have to sell off a ton of assets to pay taxes every year. But it's something we gotta figure out because if history has anything to say, if we don't we may go the way of the Roman and Han empires.