Capital flight is a myth. Not only that, but some capital is just challenging to move. Irving and Weston arent going to move their whole operations to other countries. Plus Canada has an exit tax.
Capital flight is often blown up into a bigger issue then it is by conservatives to avoid taxing the wealthy, but it is not a myth. It is a real effect that governments need to take into account when making policy decisions.
I.e. If it was a myth, we wouldn’t have an exit tax.
Its a myth in the sense that it isnt significant except in extreme scenarios (e.g. violent regime change, economic collapse). A modest wealth tax will not make that happen.
I mean, it’s different because California is a state and not a country, but they are seeing some capital flight because of their wealth tax. I’m not saying that makes the wealth tax not worth it, I’m just saying that it is a real effect.
Free trade created the free movement of capital but not the free movement of labour, and capitalists can exploit that.
Capital flight is a myth. Not only that, but some capital is just challenging to move. Irving and Weston arent going to move their whole operations to other countries. Plus Canada has an exit tax.
Capital flight is often blown up into a bigger issue then it is by conservatives to avoid taxing the wealthy, but it is not a myth. It is a real effect that governments need to take into account when making policy decisions.
I.e. If it was a myth, we wouldn’t have an exit tax.
Its a myth in the sense that it isnt significant except in extreme scenarios (e.g. violent regime change, economic collapse). A modest wealth tax will not make that happen.
I mean, it’s different because California is a state and not a country, but they are seeing some capital flight because of their wealth tax. I’m not saying that makes the wealth tax not worth it, I’m just saying that it is a real effect.
Free trade created the free movement of capital but not the free movement of labour, and capitalists can exploit that.