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Counterpoint, who cares? Markets will simply adjust and financial services will arise to smooth instances where liquidation is problematic. The status quo shi
by danny_codes 19d ago
Counterpoint, who cares?
Markets will simply adjust and financial services will arise to smooth instances where liquidation is problematic.
The status quo shifts to optimize once taxes change. Our system will do the same.
I don’t understand why people don’t think it through all the way to the next equilibrium
- seanmcdirmid 18d ago> Markets will simply adjust and financial services will arise to smooth instances where liquidation is problematic. The market will address by the wealth moving to where the wealth tax isn't. Then the countries will start creating ridiculous exemptions and they become nothing burgers (e.g. see Switzerland's wealth tax).
- danny_codes 16d agoSo, your argument is that badly implemented wealth taxes lead to capital flight? Sure, we all agree. The solution is pretty obvious, just implement a wealth tax that prevents capital flight. It’s not that hard. The US already taxes its citizens abroad. A well-implemented wealth tax would be charged regardless of where you live or where your money is. If you are a US citizen you get taxed. Then you slap an exit tax on citizenship revocation and you’re good to go. Not hard, simple, we already have systems in place to enforce it.