RE: Re wealth taxes5 Aug 2025 13:31
The top 1% might well pay 30% of the taxes, but that's because they're so damned (ie too) rich, but they won't be paying the same proportion as working people. As for the super and mega rich leaving, well I'm not so convinced that the tax would make a huge difference. Not all assets are easy to take with you. Any assets disposed of can be taxed, and wealth can be subject to an exit tax.
With respect it's not about envy. It's about slowing/stopping/reversing the undeniable flow of wealth (control of assets) away from working AND middle class people, and also from governments, to a small percentage of the population. I'm not against wealth; risk takers and innovators should be rewarded, but it shouldn't be unlimited, that won't end well for society. Lower earners spend pretty much all of their income, so it will be middle and high earners next to bear the brunt of tax increases.