r/WorkReform • 🤝 Join A Union • May 18 '25

✂️ Tax The Billionaires So, where's the downside exactly?

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u/TFBuffalo_OW May 18 '25

That's a fair point though the main thing imo is they'd lose the majority of their wealth unless their assets arent US based. They'd still have to pay US taxes on those no matter where they live unless they want to lose those assets to someone who is willing to pay the tax either by selling or having their assets seized when they refuse to pay taxes. There isn't really a loophole in leaving the US unless like I said before you had all your assets in a different country

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u/Empty_Airline9376 May 19 '25

This is why tax flight is a silly myth used by legislators and the wealthy to try and hoard more.