“The fear is wealth tax, higher taxes, higher death taxes — just more taxes until there is no more 1%,” he said, as quoted by CNN Money. “And that that will creep down to the 5% and then the 10%.“
In addition to failing to understand marginal tax rates and basic math, this also a slippery slope. This is probably worse than his proposal that every dollar of tax paid ought to equal a vote:
“The Tom Perkins system is: You don’t get to vote unless you pay a dollar of taxes,” Perkins responded, as quoted by CNNMoney. “But what I really think is, it should be like a corporation. You pay a million dollars in taxes, you get a million votes. How’s that?
It might be easier just to give people who pay no taxes less than an entire vote, say 3/5ths.