you are viewing a single comment's thread
view the rest of the comments
[–] -1 points 3 months ago* (3 children)

Historical consequences of a wealth tax:

Country Outcome Key Effects Status
France Low revenue, capital flight Millionaire emigration; investment decline Repealed (2017)
Sweden Avoidance, offshore assets Wealth moved abroad Repealed (2007)
Denmark Distorted savings High admin cost Repealed (1997)
Germany Legal + admin issues Hard-to-value assets Suspended (1997)
Norway Still active Some relocation; moderate revenue Active
Netherlands, Austria, Finland, Iceland Similar issues Low yield, high avoidance Repealed

In other words, it’s just bad tax policy, hard to track and introduces administrative burden, and encourages further obfuscation. Alternative: Income tax reform is a better solution.

  • source
  • parent
  • hideshow 3 child comments
  • [–] 7 points 3 months ago

    Relocation of billionaires is a good thing if nothing else to kill their credibility that they in any way shape or form give a fuck about this country. Secondarily it also makes them easier to sanction.

  • source
  • parent
  • [–] 6 points 3 months ago (1 child)

    It looks like your information was sourced from the Tax Foundation, which apparently has a murky history of cherry picking economic data to solely support business-conservative causes in Europe. The Reception section of their Wikipedia page will get you started on how much to trust them for accurate analyses. Just FYI.

  • source
  • parent
  • hideshow 1 child comment