in reply to Cory Doctorow

I'm at the end of my 24-city book tour for my new novel *Picks and Shovels*!

Catch me in #LONDON with RILEY QUINN from #TRASHFUTURE on July 1:

howtoacademy.com/events/cory-d…

And in #MANCHESTER at Blackwell's Bookshop on July 2:

eventbrite.co.uk/e/an-evening-…

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in reply to Cory Doctorow

"One frequent objection to high taxes is that it encourages capital flight"

No. When I was young, there were all kinds of laws against capital flight. You could only take a small amount of money on a holiday abroad, for example.

These laws were abandoned by the same parties that now use capital flight as an excuse. But that is a lie: if you want to stop capital flight, just reinstate the old laws.

in reply to Molenaar

@molenaar
Gary Stevenson has articulated one of the better counter arguments to the capital flight.

The bulk of wealth for the super wealthy is based in tangible assets. So what if a wealthy property owner moves to the Grand Caymans. The land is still in the same place. The same could be sad about the revenue a a corporation collects from its operation in a locality.

They are nothing ultimately without transactions in a locality. Even if they exchange currencies.

in reply to Cory Doctorow

I always thought that a wealth tax made more sense than income tax. Some people will be needing all their income just to live. Others may be doing really great things with their extra income. Excess wealth just sits there.

But I am wondering, what thresholds and what rates might be appropriate? Are we talking billionaires or mere millionaires. Bearing in mind that the average house is now over 1 million in many places.

Im thinking a total combined net worth of say 10 million?? Make it progressive so that it taxes billionaires more than the Tenmillionaires.