It may bring down the overall numbers, but given the rate of passive growth would still be several times the wealth tax, I see no reason they would disappear or new ones would stop appearing.
Norway as an example has had their wealth tax for over a century. They still have one of the highest rates of billionaires per capita worldwide.
How so? I support the idea of a wealth tax, but I would have expected the billionaires to be getting way above a 1% return on their assets.
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It may bring down the overall numbers, but given the rate of passive growth would still be several times the wealth tax, I see no reason they would disappear or new ones would stop appearing.
Norway as an example has had their wealth tax for over a century. They still have one of the highest rates of billionaires per capita worldwide.
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