this post was submitted on 19 Mar 2025
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Rich Americans are still Americans, and most people are happiest where they grew up. Sure, its fun visiting other places, but you are always going to be happiest in the culture you are most familar with, provided there isn't a dangerous economic or political situation.
Most would be loathe to give up their American comfort for another place. Nobody is really suggesting that American Oligarchs give up their comforts, just that they should keep a little bit less of their nearly limitless hoard of treasure to keep the system that benefits them above all others healthy, so they can get even richer.
We are an unapologetic Capitalist society, but the Sociopathic Oligarchs are killing the Golden Goose with their enthusiastic unbridled greed, and we are trying to save them from themselves. By taxing them only SLIGHTLY heavier, we are preserving that system so they can continue to get even richer. If they insist on continuing down the fraudulent Trickle Down path, the system will eventually break, and installing the new system will likely include a very bad situation for the wealthy.
But some people will leave. "American comfort" is not a thing. Switzerland, Monaco, Netherlands and some other countries are better places to live even for the working person(though there are not many of those in Monaco, to be fair). And trust me, if you are rich, it does not matter where you live, you will be perfectly comfortable wherever you are(but I would not prefer america anyway, though americans might feel differently).
My dude, the Netherlands has a wealth tax, if you live there you pay a percentage of your total wealth every year. Maybe there is a reason why it's working so well.
It is still a tax haven, and no capital gains taxes apply if you pay the wealth tax, which is even better for speculation.