And their GDP growth was better than the UK and USA....

Lie to them, “no really, it’s your city - but, you have to take good care of it or we’ll take it away!”

Anyone who thinks that "chasing away billionaires" is even a thing that can happen needs to read The Myth of Millionaire Tax Flight by Cristobal Young, by far the most extensive actual study on the subject.

This is good shit:

Ortega is poised to receive a record dividend of €3.1bn (£2.7bn) this year from his shares in Zara’s parent group, Inditex. He is reportedly racing to spend the windfall, which would otherwise be subject to wealth taxes. Sources close to Pontegadea told the Guardian it was not investing to avoid tax, but following its mandate “to create wealth from the original assets, maintain it, make it grow, and consolidate it over generations”.

...

What is clear is that, two years on, a predicted exodus of the rich, trumpeted in endless alarmist headlines, has not materialised. Forbes counted 26 Spanish billionaires in 2021. This year, it lists 34, with a combined net worth comfortably over $200bn.

...

So far, there is no sign that it has affected growth. Spain was the world’s fastest-expanding major advanced economy last year, outpacing even the US, with GDP up 3.2%. By contrast, growth in the UK and France last year barely scraped above 1%. On the balconies of the Planeta building, and in the country at large, the green shoots are alive and well.

Oh NO! We DEFINITELY do NOT want to Scare Away the people who are NOT paying Taxes!

I'm all for chasing them away.

If taxation is what they won't accept, They always saw your nation as something to be exploited and sucked dry, which means they were never on your society's side, which with such resources makes them incalculably dangerous.

If they fail the taxation test, the nation should be relieved when they run away.

You just start taxing them.

If they leave then seize their properties and redistribute them, then real workers can utilize those assets and wealth.

Because billionaires fleeing or stop investing after taxing them is mostly a myth. Warren Buffet even argued this. And even if they are serious about fleeing, impose a capital flight tax like Norway did to deter the rich from fleeing with their wealth.

Just like gun laws, this cannot possibly work in the US. Won't try it, won't condone it, won't consider the evidence. Will cover ears and sing loudly whilst looking away.

Let’s take over critical infrastructure and give it to the people .

Because it's a threat. They can't flee the country where all their investments are.

Tax the bastards. Soak them. They can afford it. Even at 90% they'd still be obscenely rich.

We should start with an inheritance tax, like the US has, and then look into gift taxes and wealth taxes. And do our best to majorly tax the top 1%.

The sad thing is that we could not even get the capital gains tax through. That was our most recent opportunity on this front.

Oh no, what'd we do without the people who pay no taxes and buy up all the real estate?