alt Hacker News> Wealth taxes require liquidating investments early
it works for RE already without liquidation
> . I would opt for a tax on loans instead (you have to prepay tax on loans that use investments as collateral and no more step up in basis on death).
rich just will move from this scheme to something else, and nothing changes.
The rich will just move to a different country, negotiate with a Swiss canton for a fixed sum tax. I don't see how a tax that punishes wealth is sustainable, the wealth will just go somewhere else.
Maybe if we had a world government or something.