> If you have say 4 million USD and invest in stocks expecting say 7% per year you will pay 103k USD in cap gain tax and then 44k in wealth tax for a grand total of almost 150k/year.

That’s only on realised gains, surely?

And if that’s the case, it’s likely cheaper than having worked for that income.

Realizing every year vs realizing at the end produces about 1% annualized return difference with those rates over 10 years. It's sure significant but not huge. In practice you are likely to be somewhere in the middle.

>>And if that’s the case, it’s likely cheaper than having worked for that income.

How is that relevant? You are investing money already heavily taxed as income before. Anyway, I am just pointing out it makes a significant difference for someone who struck a bit of gold and gained financial independence but is not yet rich.