Then tax the holders of the majority of stake, rather than those who have the least of it. You call them investors, even though they are really profiteers preventing capital gains.

The regressive taxation on the sole source of value of Steem will be far worse than you imagine. The whales receive ~90% of the rewards for the content created by those receiving ~10% of those rewards. The funding proposed taxes that ~10% to fund development that will profit 35 whales most of all, and who won't be paying for it. The witnesses are dependent for their income on the votes of those whales, and this funding mechanism is perhaps the most noxious example of corruption I am aware of, since it has been proposed by the pet witnesses of those whales.

The consequences of incessant and rapine profiteering cannot be supported at a higher level than is extant, and HF21 is going to approximately halve the rewards received by content creators. That will be a disaster for Steem. Users will abandon the platform quickly, and angrily. The price of Steem will plummet. Market cap will decrease further.

I predict that three months after adoption of HF21 the price of Steem will be ~10% of today's price. It won't matter if you change your mind then, because it will be too late to try to resuscitate Steem after so much disingenuous rhetoric and blatant profiteering. The world will lose this chance to create what Steem could have been, and you will be one of the architects of that destruction.