For the “the rich will flee / divert money” argument against higher taxes, why not tax THAT?

[Blue3]

Often in the debate on higher income taxes, there argument is made that the rich will leave the country or put most of their funds in foreign tax havens.

Why don’t we simply put an enormous tax on anyone who attempts to do so, that’s higher than continuing to stay here (with their money)?

For example, if Elon Musk decides to move to the Cayman Islands and quit his US citizenship, he can… if he first pays a 75% wealth tax.

If Mark Zuckerberg decides to put all his funds in a foreign account that he generates based off US-based business, each transaction is subject to 75% in taxes.

[Blue3]

Um, you can certainly tax money before it's transferred out of the country, and an expatriatiation tax wouldn't be that different from an estate tax.

[Blue3]

Because you can't tax money in another country?  lol

The US does tax its citizens even if they earn income abroad, and there is a fee you have to pay for renouncing your citizenship, so OP's idea is already being practiced to an extent. Although you could get away with not paying taxes depending on the country you move to.

Anyway, it is of my opinion that making it impossible to avoid paying some sort of money to the federal government is theft, so I don't think there should be a fee to renounce citizenship.

How is that theft??

[Blue3]

Because you can't tax money in another country?  lol

The US does tax its citizens even if they earn income abroad, and there is a fee you have to pay for renouncing your citizenship, so OP's idea is already being practiced to an extent. Although you could get away with not paying taxes depending on the country you move to.

Anyway, it is of my opinion that making it impossible to avoid paying some sort of money to the federal government is theft, so I don't think there should be a fee to renounce citizenship.

How is that theft??

Then taxes would be completely unavoidable unless you have no income.

As it should be, and as is the right of a government. Which by definition is not theft.