One big difference between the US and France is that the US is one of the few countries where income taxes apply regardless of where its citizens live. Doesn’t mean some won’t give up US citizenship, but that’s a bunch higher bar.
Good post by @Noahpinion on the practical results of the wealth tax on France, which had a top rate of 1.5% - 1.8%. Turns out this isn’t a new idea, and the results aren’t great. 
https://www.bloomberg.com/opinion/articles/2019-11-14/france-s-wealth-tax-should-be-a-warning-for-warren-and-sanders …
-
-
-
Sure. The US is unique on multiple dimensions. Largest & most diverse economy in the world. Problem is, unique nature is an argument against change as well as for it. Wealth tax has a lot of empirical data, we can always choose to ignore it.
- 2 more replies
New conversation -
-
-
We'll always have Switzerland. Much lower rate, but seems to be functioning in certain Cantons.
-
Yes. Switzerland argues for a much lower rate to be practical... if you have a very small economy / population.
- 1 more reply
New conversation -
-
-
They're not *bad* results, just...not impressive.
-
I said “aren’t great!”
- 4 more replies
New conversation -
-
-
Many things Americans think are cool and new have been tried and rejected elsewherehttps://www.npr.org/sections/money/2019/02/26/698057356/if-a-wealth-tax-is-such-a-good-idea-why-did-europe-kill-theirs …
-
"His solution was a wealth tax, but he recognized that exemptions and freedom of travel had doomed the European experiments" If you really want a serious wealth tax, you have to confiscate passports.
End of conversation
New conversation -
-
-
It doesn't take in account 2 things: 1) In the US you pay taxes on your assets worldwide 2) France doesn't have an exit tax, that can be as high as 30% These might be enough incentive to make someone really rich thinking twice before moving https://en.wikipedia.org/wiki/Expatriation_tax …
-
(1) isn't true anymore
- 4 more replies
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.