Across the US, UK, and France, governments are revisiting how to tax extreme wealth, ranging from property to unrealized gains to corporations. The motives differ—some seek fairness, others fiscal survival—but the anxiety is the same: If we tax the rich, will they leave? A significant body of research suggests that they will not.
The Rich Don’t Flee, They Bluff
Across the US, UK, and France, governments are revisiting how to tax extreme wealth, ranging from property to unrealized gains to corporations. The motives differ—some seek fairness, others fiscal survival—but the anxiety is the same: If we tax the rich, will they leave? A significant body of research suggests that they will not.