France tried a wealth tax, the ISF, and watched its rich people leave. Tens of thousands of millionaires and hundreds of thousands of jobs went with them to Belgium, Switzerland, and London, and the tax raised a fraction of what the flight cost the economy. Macron scrapped it in 2017 for a reason. The Tax Foundation tracks how many European countries have abandoned wealth taxes for exactly this reason: wealth taxes in Europe. You can be against billionaires in theory, but a policy that mostly exports your tax base is a gesture, not a plan.
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