Earlier quoted context omitted.
You've fallen into the classic trap of thinking about the very very very tiny of people who are billionaires. Very few people are billionaires. Very few startup founders will ever be even if they succeed. Life changing money is going from $50k/year to $1m/year. Not from $1b to $2b. The vast majority of tax burden and complexity hits the middle class. > When Apple was founded, the tax rates were %70. It was 35% on cap…
In Europe the capital gain tax ranges from %37 in Norway, %34 in France, %26 in Germany and Italy, %10 in Bulgaria and %0 with conditions in many other places. Tax heavens are a European invention anyway. And no, millionaire or billionaire doesn't matter much. Europe lacks Billionaires not Millionaires. Europe is full of small businesses and by small I mean millions in profits and revenues. In Europe %99 of the compa…
It lacks both.
The US has 8.5% millionaires. Germany has 4.1. France has 5.6. Norway has 5.9. The UK has 5.8. Once you include the rest of the EU it goes even lower.
https://en.wikipedia.org/wiki/List_of_countries_by_number_of...
edit: And in the US there's no need to start a business to be a millionaire. You can become one by just working a regular job. Sales, consulting, tech, finance, etc. jobs can even pay you $1m per year.