Yeah it's a hard nut to convince folks to leave, even very rich folks. There's something intangible that holds value!
And I'm not for the tax very strongly or anything, but the inflation argument is actually a strong one in favour. For me, just that I'm in favour of trying more experiments. Ideally simpler ones :)
Yeah it's a hard nut to convince folks to leave, even very rich folks. There's something intangible that holds value!
And I'm not for the tax very strongly or anything, but the inflation argument is actually a strong one in favour. For me, just that I'm in favour of trying more experiments. Ideally simpler ones :)
I disagree with the statement that it's a hard nut to convince very rich folks to leave. They are, in fact, the most mobile citizens because they have the time and wealth to do it. Look back over United States Taxation and see how much the wealthy generally protect their income from taxation (throughout history) and you will see they are already doing that. And that is for income, not Wealth.
A second consideration is a psychological one on 2 fronts:
1. Instituting a wealth tax takes every individual from an owner of property to a leaser of property with the government the ultimate owner.
2. Once the government breaks the barrier to instituting a wealth tax of any sort, the barrier to doing so will always be gone. Governments, over time, always increase their taxation. Break this final barrier and the right to private property ownership immediately becomes an endangered species. All other individual liberty quickly fall behind it.
The risk of that outcome is so catastrophic for liberty, that I cannot imagine anyone who intends the country to remain "free" would seriously entertain it.
Yeah it's a hard nut to convince folks to leave, even very rich folks. There's something intangible that holds value!
And I'm not for the tax very strongly or anything, but the inflation argument is actually a strong one in favour. For me, just that I'm in favour of trying more experiments. Ideally simpler ones :)
I disagree with the statement that it's a hard nut to convince very rich folks to leave. They are, in fact, the most mobile citizens because they have the time and wealth to do it. Look back over United States Taxation and see how much the wealthy generally protect their income from taxation (throughout history) and you will see they are already doing that. And that is for income, not Wealth.
A second consideration is a psychological one on 2 fronts:
1. Instituting a wealth tax takes every individual from an owner of property to a leaser of property with the government the ultimate owner.
2. Once the government breaks the barrier to instituting a wealth tax of any sort, the barrier to doing so will always be gone. Governments, over time, always increase their taxation. Break this final barrier and the right to private property ownership immediately becomes an endangered species. All other individual liberty quickly fall behind it.
The risk of that outcome is so catastrophic for liberty, that I cannot imagine anyone who intends the country to remain "free" would seriously entertain it.