this post was submitted on 05 Jun 2024
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What's stopping the wealthy from just up and leaving? They could liquidate their assets and invest in somewhere with tax laws more favourable to them.
The fact that you already confiscated them. Since we're talking hypotheticals though, you could confiscate those assets at the border. Or set up international treaties with a look-back provision.
See, what I don't like about this is that if you have the power to confiscate a billionaire's possessions for no other reason that they're a billionaire, then there's absolutely nothing stopping you from turning that power against anyone you don't like. And I'm not talking "you" as in you specifically, or anyone with a sense of morality and ethics, but "you" as in the inevitable exploitative scum that would at some point hold that power.
Now, if the confiscation is contingent on a billionaire commiting a crime then that's another thing, but then the billionaire would actually have to commit a crime. And if you made tax law ironclad then sure, if they break the law then they should have their things confiscated in recompense. But that's assuming that the trial wouldn't be bogged down in court by a billionaire being able to throw money at the problem.
This is already how it is for poor people...
Weird how so many crimes are the things poor people do out of desperation rather than the things rich people do to coerce poor people to do the things poor people don't want to do...