To late for an edit now. And while just throwing the number out like it’s a bank balance is a bit of a hot take… I’m fully aware of the fact that any realistica

To late for an edit now. And while just throwing the number out like it’s a bank balance is a bit of a hot take… I’m fully aware of the fact that any realistically useful proposal for this kind of wealth tax would require a lot of careful structural work to make useful and effective. It’s important to note that the USA is one of the only countries that expects overseas citizens to file tax reporting paperwork. Normally this is perfunctory stuff. But the key is that it’s law that living full time outside the USA doesn’t mean you have any loopholes for skipping the paperwork… The IRS is uniquely positioned under current law to enforce a global jurisdiction wealth tax on US Citizens … and since the USA already requires a payment for processing the renouncing of citizenship, you could just as easily place a punitive sized fee or fine for obviously renouncing citizenship to avoid paying billionaire taxes. But once one country moves toward this sort of law I think others would follow. We have international law organisations that are used for tracking financial criminals and if more countries had similar laws these international organisations would gradually be more and more useful in ensuring billionaires can’t just stash money in overseas banks markets trusts and assets.