I think most companies in the world would go bankrupt with even 0,5% networth/ value tax yearly.
The value is in IP/ machines / contracts. Most of them hold not that much cash.
0,5% for 1B valuation would mean 5 Million additional taxes. Sounds not that much, but if it's all in machines or tech, it can hammer everything down and slow down over years (also cut to add more employees).
I don't understand the mindset of those people, because the damage is higher than every possible earning.
Money is based on future value/leverage ( credit system). So if you take value from today, you have less tomorrow.
But:
Taxing the rich sounds better and needs no explanation right? Because everything is unfair and is all their fault.
Everything should be free right?
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The part(s) I always find hilarious about wanting to tax rich people more is that 1, there's not enough rich people to go around, and 2, if you give the government more money what are they going to do with it? Bomb more people?
Not like the tax base comes anywhere close to government spending anyways.
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And with more tax, the government is forced to be more inefficient.
The biggest net spender in fiat is always the gov.
And gov doesn't work as a business, they can forever make loss bets and go on with that.
In the end, the citizens pay the bill.
The most retarded thing IMO is to print fiat into force people in a direction with the money.
It's far far away from free markets.
A better way is, if the government ( or the citizens) want a change, simply add a price tag to something you don't want and give it 1 to 1 to something you want to support.
No middlemen.
Don't want to burn coal? add an additional price per mhw there and give the difference to in mhw to renewable ( for example saving technology, that works for decades).
But yeah governments don't think that way about long-term plays.
its also spent extremely inefficiently. Private contractors likely given insanely bloated amounts for projects in return for favors.