[jlhawn]

I was waiting for him to make some point but then it ended up being that a wealth tax is like increasing regular income taxes by 20% which makes it seem like PG is trying to confuse people about what a wealth tax is designed to target. It's not targeting your wages or salary, or even your interest or dividends. It's primarily targeting unrealized gains on financial securities.

Maybe he should spend his time trying to work with these politicians to design something that is more fair? Like making it actually act as a tax on unrealized gains over $1B (so that it takes cost basis into consideration) OR make it so that if you need to sell some assets to pay the tax, you can writeoff the wealth tax you paid from your regular/capital-gains income so that you aren't taxed twice? There's a lot of actually useful stuff he could write about in this policy area instead of blogging about the financial equivalence between stocks and flows.