France Tried Soaking the Rich. It Didn’t Go Well.

I like Noah Smith, but I didn't find this to be just best article.

For one, Belgium is a mere 40 minute train ride from Paris, so it is not surprising the wealthy were able to easily avoid the tax. However, the US has nothing remotely similar to this - leaving the US means leaving the US. Secondly, moving to another country would not even work for Americans! The US already has worldwide tax liability meaning it's citizens must report their income and pay US taxes regardless of where they live.

Considering these factors, the comparison with France does not seem particularly useful.

What I was hoping to see is how France dealt with some of the more technical problems such as the valuation of more exotic assets as well as the inevitable lobbying for exemptions. Unfortunately, Smith doesn't cover this.

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