this post was submitted on 29 Mar 2025
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What's so bad about the ultra wealthy moving out?
Genuine question.
Because even if they pay a lot less percentagewise, they still pay a lot. Having like 10% of something is better than having nothing.
We should still track down and close loopholes, and increase taxes on capital gains tho.
They're paying $0, in fact they are managing to get refunds on $0 paid.
The top of the top are paying $0. But That’s like the 0.1% or the 0.01% and yes wed probably be best if they left. The top 10% are not paying a fair percentage but they are paying a lot in total dollars. Blue states are beginning to see a lot of wealthy leave for no income tax states. They still pay taxes in those places in the form of property and sales tax. Now the red state gets their tax dollars.
Taxing should be a tool, but not our only tool to fight income inequality.