I agree with you while heartedly in in principle, but wealth taxes seem to have failed to achieve their goal. Rich people rub to other places and dodge it. In Europe far more countries are ditching them than implementing it.
As Matthew Barnett said, most economists seem to agree that land value taxes are a far more efficient way of redistributing wealth. Unfortunately they are so unpopular they are hard to implement, which is part of why politicians keep trying to drum up support for the mostly failed policy of wealth taxes.
Personally I would love to redistribute wealth more even within rich countries, because like you say there’s no evidence it would reduce giving outside countries. It just ain’t easy to do.
I agree with you while heartedly in in principle, but wealth taxes seem to have failed to achieve their goal. Rich people rub to other places and dodge it. In Europe far more countries are ditching them than implementing it.
https://www.npr.org/sections/money/2019/02/26/698057356/if-a-wealth-tax-is-such-a-good-idea-why-did-europe-kill-theirs
As Matthew Barnett said, most economists seem to agree that land value taxes are a far more efficient way of redistributing wealth. Unfortunately they are so unpopular they are hard to implement, which is part of why politicians keep trying to drum up support for the mostly failed policy of wealth taxes.
Personally I would love to redistribute wealth more even within rich countries, because like you say there’s no evidence it would reduce giving outside countries. It just ain’t easy to do.