I would love to see the development of a government/economy “simulation” tool. I hope you are successful.

As to your question about how money a wealth tax could raise, that would be a policy decision. You know the approximate amount of private wealth that will form the basis for the tax so the percentage rate would be dictated by how much money you intend to collect.

In rough terms the income tax raises about $1.5 trillion/year. You could easily calculate the tax rate on the known wealth base to yield the same total tax revenue. As I recall, today that would be in the range of 2.5%.

The real trick would be dealing with the delayed payments from liens on assets held by low income citizens. You might have to increase the initial tax rate for the first 10 years or so until those liened assets started being sold or transferred.

Graduate of Stanford University & U.C. Berkeley Law School. Author of 17 novels and over 200 Medium columns on Economics, Politics, Law, Humor & Satire.

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