Comment by credit_guy
2 hours ago
That's not all that matters. The main reason to have taxes is to fund the government, not to make society a more just society. And thinking that billionaires will just take a wealth tax as served, and perhaps will ask "can I have some more" is one way to think about this, but probably not the best way. A better way to think is that action might be followed by reaction. There is no manifest destiny for California to be the epicenter of tech.
California already has very high taxes. I think marginal tax rates are higher in California than for UK tax residents, certainly for CGT, and roughly similar for income tax.
I'd say the fact that California remains the epicenter of tech despite its high taxes suggests concentration of talent matters far more than tax rates.
Does the government not have the goal to make society a more just society? When did that stop being a priority of government? Even a teeny, tiny one?
Sure, the government has that goal too. But the government has many tools, and using taxes for that is using the wrong tool. Or maybe you think that billionaires owe us not only to pay taxes, but also to play nice, and pay those taxes with a smile on their face?
> pay those taxes with a smile on their face
The government's monopoly on punitive violence isn't only intended for the peasantry...