Just watched a peep show episode and I read this in Mark Corrigan’s voice

It won’t. But it will reduce the effectiveness of the wealth tax.

But people with the means to do so can change their citizenship and residency from a country with wealth taxes to a country without them

Ah, okay, I see what you mean. I suppose they might affect someone’s decision to conduct their investments as a citizen of a country with wealth taxes, if they have the financial means to quickly become a citizen of another country.

To be clear, I do broadly support wealth taxes, I just think they need to be implemented quite carefully to be effective.

Investments are personal wealth