New York state lawmakers are expected to place a new tax on luxury second homes in New York City, appeasing Mayor Zohran Mamdani and his progressive base as he moves to fund his ambitious agenda on the backs of the rich.
“capital flight”, I wonder if this has actually ever happened.
Though even if it does, they could just introduce taxes nation-wide, and then if billionaires leave the country then they can simply do things like making overseas billionaire Americans pay up (they already do stuff like this iirc, just the uber-rich get away with it).
I’m not sure if them leaving the country would even be a bad thing, since billionaires aren’t the backbone of the economy to begin with, they’re the stain. Good example is how housing price surges are literally always because of the ultra rich.
“capital flight”, I wonder if this has actually ever happened.
Though even if it does, they could just introduce taxes nation-wide, and then if billionaires leave the country then they can simply do things like making overseas billionaire Americans pay up (they already do stuff like this iirc, just the uber-rich get away with it).
I’m not sure if them leaving the country would even be a bad thing, since billionaires aren’t the backbone of the economy to begin with, they’re the stain. Good example is how housing price surges are literally always because of the ultra rich.