Mamdani, the presumptive Democratic nominee to be the next mayor of New York City and a self-identified democratic socialist, on Sunday said billionaires contribute to inequality.
My experience is from Norway where the taxes on the rich is balancing on a line. A lot of rich Norwegians have already moved to Switzerland to avoid annual taxes on their wealth. I would expect to see something similar if USA introduced reasonable taxes, unfortunately.
That’s what conservatives always claim. Most of them won’t move and even if they do, good riddance. Simply tax their wealth beforehand.
My experience is from Norway where the taxes on the rich is balancing on a line. A lot of rich Norwegians have already moved to Switzerland to avoid annual taxes on their wealth. I would expect to see something similar if USA introduced reasonable taxes, unfortunately.