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this post was submitted on 24 Aug 2025
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They will just move to the next country.
If they want to operate in the world's 3rd largest economy, they will not.
Why you can tax billionaires more and they won’t leave
Then you set up an exit tax and a tax on citizens living abroad
Not a solution as this will hurt people who aren't billionaires as well.
With fair tax brackets it shouldn't matter much
Always threatened, but never happens.
They own assets. Take away those assets, they lose their “leverage”.
They probably will at first. But they will want to come back. And billionaires really don't like not getting what they want, even if it costs them more than they want to get it. You don't need to be the lowest bidder to get billionaires. They won't all go live in Bermuda or LA forever. What good is their money if it doesn't let them live wherever they want? You already have all the things you need to attract them. Culture, history, prestige, safety. You will have even more of al those things when you make them pay their share.