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In general, people who think most economists are communists can be safely ignored, because they’re clearly bad at processing information about the world
Actual empirical evidence suggests that while some people do move as a result of wealth taxes, it is such a small response that it has very little impact, and typical rates are well below the peak of the laffer curve (Swedish wealth tax in 2007 was higher than Norway today)
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James Medlock
@jdcmedlock
Do wealth taxes cause people to move to countries without wealth taxes? To some extent, but the impact is *very small* x.com/hwin365/status…
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James Medlock
@jdcmedlock
Basically, a right wing Norwegian business school professor told the Guardian with no evidence that 600B NOK worth of wealth emigrated. But the list of emigrants is public, and when you add it up it’s 36B NOK. Do the same math with the correct number and it raises revenue x.com/jdcmedlock/sta…
“we’ll have to have some sort of Universal Basic Income (UBI)”
Elon Musk
But who is going to pay?
We believe our data!
HUDI = Human Data Income
We are building a Universal Basic Income based on our data.
Our data is our asset, the new oil, but we have no transparency nor
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Ben Gross 
@bengrossbg
Replying to @micah_erfan
This is a website that helps rich people flee to tax havens
Haha I didn’t realize that, I assumed it was like “citizen journalism on X” or something
Well in the end it’s true it raised money, so maybe it’s better they made that mistake
What I’m saying is if you actually do the math with the information available, the claim doesn’t hold up
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Bert
@BertAW_Russell
I did a statistic not long ago based on the DNs (Norwegian FT/WSJ) list of people who "fleed" to Switzerland.
They had a combined taxable fortune of ~36B NOK, NOT 600B NOK.
So lost revenue then ~394M NOK (~36M USD) i.e. net positive gain of +110M USD using his own calculation. x.com/DellAnnaLuca/s…
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That people try to will evidence of the Laffer Curve into existence is funny when even Laffer himself isn't willing to say any countries are on the right side of the scale currently (he still advocates for tax cuts, just for stimulative not tax receipt maximization.)
They're calculating the loss relative to if nobody had left at the new tax rate rather than simply comparing old and new tax revenue.
KQ’s KSh513m profit signals recovery, growth and a boost to investor confidence.
Automated
"Economists are bad because they love the government" is one of the takes of all time
Would be hard for a tax increase of any sort to not raise some revenue. Was it an efficient increase, meeting expectations?
you're missing the forest for the trees on this one: "most economists are communists" is an incredible bit.
In addition to all your other points, how does he look at this (made-up/skewed) “data” and blame economists/communists instead of the ultra-wealthy?? “The super rich are tax dodgers who don’t pay their fair share because of the communists” is… one hell of a take lmao
Easy solution. Simultaneously enact a "move tax" similar to death tax. Cuz if you move you're dead to me.
It's a russian troll trying to stop equality in countries. I am hardly shocked
I’m a fan of wealth taxes, though it’s certainly possible to design one that would reduce revenue. It’s just that this one did not do that
This chart always blows my mind.
2 years ago, Intel had more Data Center Revenue than Nvidia.
Look at it now...
S/o to FinChat.io for the data
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Bert did the math - it’s funny because they fled to a country with a wealth tax
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Bert
@BertAW_Russell
I did a statistic not long ago based on the DNs (Norwegian FT/WSJ) list of people who "fleed" to Switzerland.
They had a combined taxable fortune of ~36B NOK, NOT 600B NOK.
So lost revenue then ~394M NOK (~36M USD) i.e. net positive gain of +110M USD using his own calculation. x.com/DellAnnaLuca/s…
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Klein was 100% right to say this - it's simply absurd to describe any country where millions of its subjects are denied the right to vote on the basis of ethnicity as a liberal democracy. I can't believe I even have to debate this with people!
a quarter century ago, a whole generation of anti-government conservatives was traumatized by this photo. they saw it as what could happen if the feds were willing and able to stage a hitleresque autogolpe.
now, to a man, they want to replicate it by seven orders of magnitude.
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william o. doglass 
@GABAGOOLMODER
it would look like elián gonzález times twenty million x.com/ndrew_lawrence…
Grant declared martial law to break up the Klan in South Carolina and then got a law passed that allowed him to suspend habeas corpus by identifying the Klan as unlawful combatants engaged in active rebellion against the United States
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HVAC Barclay 
@BigDickBarclay
Replying to @BlueandGray1864
If Grant saw this one image he would have marched north instead of south
