I guess it just means: something that costs you more the more you have. As contrasted with wealth generating returns, as per this sentence from one of Zvi’s comments:
If you’re making and selling widgets, wealth pays dividends rather than being taxed.
Did I miss the definition? What is the wealth tax?
Is it this:
I guess it just means: something that costs you more the more you have. As contrasted with wealth generating returns, as per this sentence from one of Zvi’s comments:
I just meant wealth tax, as in effects that cause those with material wealth to lose some or all of that wealth over time.