My experience is from Norway where the taxes on the rich is balancing on a line. A lot of rich Norwegians have already moved to Switzerland to avoid annual taxes on their wealth. I would expect to see something similar if USA introduced reasonable taxes, unfortunately.
But could this really be done? As far as I’ve understood, billionaires typically don’t have a billion liquidized and ready for spending. Rather, their value is distributed in ownership of several companies. How would the 100% taxes on ownership in companies be applied?
Don’t get me wrong, I would love to see it work, but I feel like it’s a lot more complicated than stated. And if a good way of applying those taxes would be introduced, I’m sure the billionaires would either find new ways to make the money untouchable or personally move to a country with looser tax laws.
I’m sure I was sufficiently notified, but I am not big on reading updates on ny instace, so this came as a surpise just now.
Thanks for the server! Onwards to the next!
I’m so happy to have grown up in a country where not learning to cook isn’t an option.