The line is to tax them globally. Or, if they decide to leave for tax reasons, don’t let them in.
Obviously, all their assets should taxed even higher on exiting the country, whether they leave or not.
Start taxing the income where it happens and everyone is better off and there is no race to the bottom in taxation with tax havens.
There isn’t difference between income and profit, but if they don’t pay their fair share, then start taxing the business incone.
Only way to achieve this is international working class solidarity.
Even though there are many well entrenched social structures in place to make change hard, ultimately the ruling class represent a tiny fraction of the population. If the people of the world decide it, it’ll just be the case and billionaires could be removed from their undue control over society.
Trouble is convincing everyone 😅
The line is to tax them globally
How do you do that? The EU can barely decide on rules within its own economic borders and everything takes forever, let alone a global wealth tax that requires agreement between all 300 countries
Where there is a will, there is a way. The question is why do we allow wealth to have control such that society is afraid to tax it.
You watched the video ? That’s literally what it answers
Taxing anything globally is a great idea but falls apart for the very same reasons that tax havens exist. Some smaller/poorer countries will not be able to resist offering a lower tax rate. And with the money these people have they can make any place luxurious.
Yes, but then you tax income, which is not ideal but prevents moving profits. Or just make any payments for IP not tax deductible so profit shifting can’t occur.
Norway was a setup. The increased tax rates without an exit tax. They now have a 34% exit tax but the first round of millionaires leaving was political corruption.
Meanwhile…Monaco has such high demand for residency they are expanding building into the sea like Venice. An entire city of tax avoiders (most of your sports heros).
Canada makes it trivial to place money offshore in the Caymans, Isle of Man, etc.
