Progressive Politics

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TokenBoomer@lemmy.world

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If We Tax Rich People... They Will Just Leave! (youtu.be)

submitted 4 weeks ago by ShaggySnacks@lemmy.myserv.one to c/progressivepolitics@lemmy.world

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TLDW

Capital flight is ultimately a myth cause the people who complain about high taxes and moving are already not paying taxes.

The vast majority of people aren't going to give up their homes to save a few bucks.

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[–] stupidcasey@lemmy.world -2 points 4 weeks ago (2 children)

To a certain extent, I'm sure. You can't say you would double your rent just because you like it here.

[–] PunnyName@lemmy.world 5 points 4 weeks ago

If billionaires leave and don't own the rental, then rent won't be increased to help them amass more wealth.

[–] explodicle@sh.itjust.works 2 points 4 weeks ago

I already did! I moved to California instead of undesirable places with <50% its CoL/taxes. And rent/taxes are a much bigger percentage of my income than they are for the rich!