Leftists either cannot do basic math or want destruction on purpose. Real world examples in Europe show businesses fleeing or shutting down.
“Wealth tax explained:
1. Laura loves to cook, she risks all her life savings and opens a small restaurant: Laura‘s Kitchen
2. Laura works really hard, evenings, weekends, no vacations
3. The local community loves Laura‘s Kitchen, it’s a success, the restaurant gets larger, Laura hires 30 people from the neighborhood
4. Laura makes 1,5 Million € in profit, she pays 40% in income tax: 600,000€
5. The left „tax the rich“ party wins the elections, and introduces a wealth tax
6. Laura‘s Kitchen gets valued by the tax authorities at 25 Million €. Laura must pay 5% wealth tax: 1,25 Million €
7. The income tax of 600,000€ plus 1,25 Million € in wealth tax is more than the 1,5 Million € Laura makes
8. Laura cannot afford to pay more taxes than she makes, she closes Laura’s Kitchen
9. Laura loses her life savings despite years of hard work, 30 people lose their jobs, the state receives zero taxes
10. The local community goes to McDonalds again
11. The local left “tax the rich“ party members blame „capitalism“ for that on social media
12. Everyone gets poorer due to higher unemployment and lower tax revenues
Why is this so difficult for the left to understand?”
That’s exactly the absurdity of the wealth tax.
Wealth is based on shares in enterprises, which are valued based on future cash-flows.
Wealth tax is taxing the future, not the money you have in the bank account. That’s why it leads to business closures and unemployment. https://t.co/jecOnrMken
— Michael A. Arouet (@MichaelAArouet) July 9, 2026