[bobsomers]

> If you penalize the rich, they just move, and then the new system will stop class mobility.

This is a myth created by the rich so that you won't tax them.

[dismalaf]

It's pretty observable and part of the reason many microstates are extremely wealthy.

Also keep in mind the US is a winner here. The UK loses the most millionaires and it's had an observable impact on their economy.

[youngtaff]

Nah… UK’s economy is broken due to the fact we’ve never recovered from the financial crisis

It’s also due to the lack of investment in heathcare, education and other public services over the last 14yrs

Britain still has very many extremely rich people - London has more billionaires than NY - Serious Money by Caroline Knowles is an interesting exploration of the subject

[cycomanic]

Just one more follow up, the US is 27th on social mobility, behind most EU countries, Australia, New Zealand and most other countries which are consider "western"

https://en.m.wikipedia.org/wiki/Global_Social_Mobility_Index

[jibal]

No, Bob is right and you are wrong.