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Except that if you say, implement a wealth cap at X millions then taking a billionaires money still leaves them rich enough to do anything. That's not slavery.
by anth_anm 8y ago
Except that if you say, implement a wealth cap at X millions then taking a billionaires money still leaves them rich enough to do anything.
That's not slavery.
- manfredo 8y agoOr they can just move all their money out of the country. An estimated 200 billion in capital left France when it instituted it's wealth tax. And if you try to tax billionaires on wealth stored abroad, they'll just move to New Zealand. Do you really think billionaires are going choose to stay in the US and loose huge portions of their net worth instead of just leaving the country? This is the problem with extreme forms of taxation. They really only work when a country does things like restrict travel out of the country. And if someone's policies is contingent on restricting certain classes of people it is going to raise some ethical questions.