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Notes -
Well I did expect it would end up being some variation of "a bunch of IRS bureaucrats decide what the value of your shit is", but can we at least apply it to our real world case here.
Valuation events are left unclear, so what is Gabe going to pay on? The value of the company last they changed the cap table multiplied by the Fed rate plus 2 compounded if I'm getting this right?
So it's either going to be since his divorce or the Campo Santo acquisition. And the value is going to be based on how good a lawyer his wife has or how much he wanted some third party developers. Makes perfect sense.
I wouldn't say insane so much as tyrannical. But yes property taxes are tyrannical. Because they're a violation of private property that is not meant to fund public works.
Just taking from people by force of arms because you don't like that they have is something that I think is clearly immoral. Enforcing equality is not a legitimate goal of government and is in fact something that I believe is grounds for armed revolt.
But the subjectivity I'm talking about is that of value. Property taxes as a category are nonsensical because economic value can't be determined without transaction. Hence it just ends up being setting a number you're going to take from people.
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