I think it's difficult to tax people on money they've earned and "paid" taxes on. The billionaire tax in CA is a good example. It makes sense that the ultra wealthy would rather move than to pay that tax - for lots of reasons ranging from greed to wanting to decide how their wealth gets used.
It reminds me of student loan forgiveness. It's too hard to retroactively forgive them. It may sound good in theory but it's not fair - i.e. for people who worked 2 jobs while going through college.
The laws for wealth accumulation moving forward need to be reformed and I think we have to accept that we let people run away with massive wealth and it turned out to be not the best thing for society.
It reminds me of student loan forgiveness. It's too hard to retroactively forgive them. It may sound good in theory but it's not fair - i.e. for people who worked 2 jobs while going through college.
The laws for wealth accumulation moving forward need to be reformed and I think we have to accept that we let people run away with massive wealth and it turned out to be not the best thing for society.
Some lessons are learned the hard way.