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This is a big myth. Wealthy people are not going to just get up and leave America. Where do you think they would go?

Look at france. It added a wealth tax. A year later, it made international news when a billionaire stayed!

I think they would go quite literally everywhere.

Last time I checked, America is still the best place for a millionaire to become a billionaire. Having arbitrary thresholds where people suddenly get taxed at obscene rates is, of course, foolish.

Don't lie. They left. Read about Gerard Depardieu and many other rich people who left the country.

I think you misunderstood what I meant— almost all of them left except one which was newsworthy

I agree this would be a challenge, but you can limit the percentage of a person's wealth that can be transferred out of the country. It won't be easy, but I still think taxing wealth (or a wealth tax combined with lighter income taxation) would be much more equitable than our current system.

So you're saying we get to keep all of the beautiful natural resources and culture of the country, but the handful of billionaires exploiting it and its people go elsewhere and take their shitty morals with them, leaving a country with reduced economic inequality?

I'm sold.