@rbreich I am skeptical that a #WealthTax will work in America (or anywhere really), as the wealthy would simply move their assets overseas.

It has been tried before & failed.

👉🏾 https://www.npr.org/sections/money/2019/02/26/698057356/if-a-wealth-tax-is-such-a-good-idea-why-did-europe-kill-theirs

@darnell @rbreich This article is interesting, in part because it actually goes into how Warren’s plan was substantially *different* from any of the failed policies, and how the plan was designed keeping those previous failures in mind!

As the article explains, US citizens still pay taxes overseas, so moving assets wouldn’t be a way to dodge taxes. And there would also be a substantial tax on these assets for anyone who renounces their citizenship!