Right now, the wealthy can simply flee any state trying to impose taxes on their net worth... and this is happening big time.

Now some "progressive" states are leaning toward imposing draconian "exit" taxes on those thinking about moving to a more favorable tax venue.

But if the Dems sweep in 2028... they will seek to impose a national wealth tax and will disregard the filibuster to accomplish this goal.

Of course this will severely inhibit any investment activity whatsoever.

Goodbye capitalism.... and real progress.


Link: https://fortune.com/2026/03/17/6-billionaires-left-california-billionaire-tax-newsom-brin-page-thiel-spielberg-revenue/

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Link: The Gipper’s Welcome Message

A couple of thoughts:
1. There is not enough personal wealth to make much of a dent in our debt.
2. A wealth cap would be nice, say $100M, but I am not sure how that would work.
3. How do you differentiate between net worth and assets? A company owner may have a high net worth due to the valuation of their business.
4. AI is going create the necessity for a lot of interventions and may be the culprit that ultimately kills capitalism.