problem is this is just an eye catching headline with no basis in the reality we live in

Anything over 1M Year taxed differently, creates a market (that currently exists) to structure money outside of the taxed system

We all know this from the UK, Japan, America, Australia -- the rich people have 4-5 preferred jurisdictions to keep their wealth outside of the main taxed country and only move in limited amount to be taxed.

They compete for these customers, so once to take down Switzerland, the Cayman, British Virgin Islands, Guernsey, Singapore, Panama, Curacao, Hong Kong (less now), even Delaware is technically used to combat "some" of this as a tax haven itself but it's not all the money these rich people bring into the actual country