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The rich will just move to a different country, negotiate with a Swiss canton for a fixed sum tax. I don't see how a tax that punishes wealth is sustainable, th

• andriy_koval 12d ago
  US currently hold enough power to make them paying their debts oversees too. Also, I think it is equilibrium of interests of all involved parties: rich pay 0.5%/y of wealth tax, population is healthier, country is stronger and protects interests and safety of rich. The problem is mostly to make them realize this.
  • seanmcdirmid 12d ago
    > US currently hold enough power to make them paying their debts oversees too. The US is increasingly a less relevant country every year. With a wealth tax, yes, all those Americans will have their wealth eventually confiscated (0.5% a year will add up quickly year after year, investments will unwind so wealth will stop accumulated, and eventually it's gone), but I doubt the rest of the world will care and just move on and decide crazy things that happen in the US are like the crazy things that happen in Iran.
    • andriy_koval 12d ago
      > With a wealth tax, yes, all those Americans will have their wealth eventually confiscate US already have 0.5-1.5% property tax, no one calls it confiscation.