Comment by disgruntledphd2
2 hours ago
> There are arguments about wealth taxes inducing capital flight and investment disincentives
If the US and the EU introduced a wealth tax then it would be relatively difficult for the capital flight fears to materialise. But yeah, the trouble with wealth taxes is that wealth (i.e. capital) is mobile.
Which is why land and property taxes are probably the most effective way of taxing wealth.
Most of us would not prefer to follow the EU into irrelevancy. If they were the model for how we should be running things how come they are not the ones running the show on innovation?