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To this day, Sanders' proposed exit tax remains one of the most alarming authoritarian proposals I've ever seen from a US presidential candidate. Confiscating property with explicit intent to keep a particular class of citizens from voluntarily leaving is a *hell* of a precedent
There are a lot of legal/governance principles that need to be held in balance with the tradeoffs they represent But "they're going to want to leave, and here's how we're going to stop them" is something no democratic nation should be willing to touch with a 20-foot flagpole
Everyone should be balking at this. Taxation is supposed to represent something akin to a consensual agreement between governance and governed. We don't just revoke your property rights to an arbitrary extent and call it a "tax" if you don't agree to the new terms
It doesn’t seem all that different from the existing exit tax.
The existing exit tax is essentially what you'd have to pay if you stayed in the US but sold all of your assets. These are taxes that you're assumed to already ultimately owe, but for the sake of convenience are only paid at the point a transaction occurs.
Doesn’t the US already have an exit tax?
I believe you just have to pay unrealized capital gains
For anyone else wondering: "40 percent exit tax on the net value of all assets under $1 billion and 60 percent over $1 billion" https://www.vox.com/policy-and-politics/2019/9/24/20880941/bernie-sanders-wealth-tax-warren-2020 … I agree with you, Mason.
* only for persons with assets of $32 million who decline to pay the wealth tax.
Won't someone think of the billionaires! This doesn't affect freedom of movement, but rather freedom to evade tax, and is not even applicable to anyone with assets of under 16 million. They will be fine, literally billions of others are far more deserving of your concern.
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