Apart from the fact that for the past decade, multinational firms have either exited or signaled their intention to leave the country, Nobel Prize-winning economist Angus Deaton warns that such taxes often backfire, prompting the wealthy to hoard assets, evade taxes, or relocate to friendlier jurisdictions.
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Get new insights on pro-freedom issues and current events. Subscribe to ‘Letters of Reasoning’ for weekly expert commentary and fresh perspectives.
