Uh, you can’t escape the implied inflation wealth tax by going to a different country, while you could escape a wealth tax by doing so. [Edit: Oops, already said]
Having said that, I agree with you that at .5% it wouldn’t make much of a difference, though Graham might be right that even that little is still enough to start people thinking about changing their behavior due to the tax. Also Elizabeth Warran’s implied 6% on billionaires accounting for the extra amount charged to cover her healthcare plan would have definitely driven people who were expecting to ever get huge startup wealth away.
Uh, you can’t escape the implied inflation wealth tax by going to a different country, while you could escape a wealth tax by doing so. [Edit: Oops, already said]
Having said that, I agree with you that at .5% it wouldn’t make much of a difference, though Graham might be right that even that little is still enough to start people thinking about changing their behavior due to the tax. Also Elizabeth Warran’s implied 6% on billionaires accounting for the extra amount charged to cover her healthcare plan would have definitely driven people who were expecting to ever get huge startup wealth away.