If wealthy people “fled” from the USA if they were taxed higher, wouldn’t others step in to take their place? /u/dumb-puffin No such thing as stupid questions

This is purely an ignorant, curious question. I saw a post recently that stated other countries have tried wealth taxes before that caused the richest to leave for more tax-lenient countries and a drop in GDP. Makes sense that’d be a concern for the US too, don’t get me wrong.

Even if major billionaires and companies left the US, wouldn’t that leave room for others to build in their place? There’s got to be some people with capital and the willingness to make mountains of money, even if a good chunk of it goes to the government and they make less than they “could” without taxes. Would a temporary billionaire exodus/downturn eventually lead to rebuilding? Is it the fear of a full collapse in the between? Would too much value be driven away to recover?

I know it’s overly-simplistic, which is why I’m asking so I can understand better. What would the potential long-term effects be?

This is purely an ignorant, curious question. I saw a post recently that stated other countries have tried wealth taxes before that caused the richest to leave for more tax-lenient countries and a drop in GDP. Makes sense that’d be a concern for the US too, don’t get me wrong.

Even if major billionaires and companies left the US, wouldn’t that leave room for others to build in their place? There’s got to be some people with capital and the willingness to make mountains of money, even if a good chunk of it goes to the government and they make less than they “could” without taxes. Would a temporary billionaire exodus/downturn eventually lead to rebuilding? Is it the fear of a full collapse in the between? Would too much value be driven away to recover?

I know it’s overly-simplistic, which is why I’m asking so I can understand better. What would the potential long-term effects be?