Raising taxes generally raises money. In some cases it can lead to capital flight but that’s hardly some universal economic rule. But besides raising capital,

Raising taxes generally raises money. In some cases it can lead to capital flight but that’s hardly some universal economic rule. But besides raising capital, taxation reduces wealth inequality, which is itself beneficial as it makes society more democratic. Reducing wealth inequality reduces the concentration of power, which is better for everyone (except for the 1%). Still, when redistributing wealth, it’s prudent to address the risk of capital flight. It’s not an insurmountable challenge. Policy can address it through: 1) financial controls 2) coordinated international efforts to raise taxes on the wealthy, and 3) harsher measures like nationalization and capital levies.