(10-17-2019 12:37 PM)OptimisticOwl Wrote:  The wealth tax will work as Democratic taxes usually work - the most people to the greatest extent. So for Americans, it will be on world wide wealth, for others, wealth held in the US.

That's what I expect. So Americans will have to give up their citizenship to avoid it, whereas foreigners will just have to stop investing in the US.

Putting US citizens at a substantial disadvantage versus their competitors in the rest of the world hardly seems like a useful tactic. Nor does disincentivizing foreigners to invest here.