It’s true that the current income tax has shortcomings due to the mobility of capital owners. I think it would promote competition to focus more on wealth taxes

It’s true that the current income tax has shortcomings due to the mobility of capital owners. I think it would promote competition to focus more on wealth taxes on immobile assets (on e.g. land, patents, spectrum, and ownership of networks) as an alternative to some income taxation. See e.g. Glen Weyl’s book Radical Markets on this topic (https://www.amazon.com/Radical-Markets-Uprooting-Capitalism-Democracy/dp/0691177503 https://www.amazon.com/Radical-Markets-Uprooting-Capitalism-... https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2818494 https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2818494)