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by neerd 4 days ago
> The sad reality is that as soon as the EU introduces this, these families won't be Europe's Ultra Rich anymore. They'll soon be the UK/Swiss/Dubai/Israel/US Ultra Rich.

Yeah, but the physical assets they own can’t move freely. The EU can still tax or seize assets within the EU.
2 comments
LaurensBER 4 days ago
> Yeah, but the physical assets they own can’t move freely. The EU can still tax or seize assets within the EU.

This is true but effectively it would lower the value of those assets (since any future investor needs to account for the increased tax burden) which would also be negative for the EU.

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nradov 3 days ago
OK, and then what happens when the money runs out? EU bureaucrats might be able to seize existing wealth but they don't know how to set policies that create new wealth. Rather the opposite.
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