Subject: Re: Biden Budget

Its a simple asset tax. Sum up the market value of all your assets, then tax the amount over $1B at a rate of 25%.

So in 4 years the government would have taken the whole thing.

I heard a story (probably apocryphal) of a Senator asking the Congressional Budget Office how much a 100% income tax on incomes above $XXXX would bring in in each of the next 5 years.
And they gave him numbers in the billions for each year.
In the real world, of course, the number for every year after the first year would be $0.