this post was submitted on 09 Nov 2023
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If they did tax the wealthy heavily, they'd probably leave the country, and pull their money and resources with them.
I'm sure another nation would be more than willing to house billionaires/ultra millionaires and their assets, and your country would lose a lot of money/cash flow/jobs
It's a hard challenge to solve in a world wide setting.
Lol, where they gonna go?
Literally any tax haven
Their money is already there so them moving wouldn't make much of a difference.