Berkeley Prof.: U.S. Can Learn from Europe by Making a Wealth Tax Harder to Avoid

TUR Gabriel let s ░░░░░░░░ about that Germany Sweden ░░░░░░░░ Netherlands and Austria all ░░░░░░░░ their wealth tax Does ░░░░░░░░ version of it this ░░░░░░░░ version of it address ░░░░░░░░ problems in Europe ZUCMAN ░░░░░░░░ You know look taxes ░░░░░░░░ neither bound to fail ░░░░░░░░ to succeed You know ░░░░░░░░ avoidance Tax evasion Tax ░░░░░░░░ These are not laws ░░░░░░░░ nature These are choices ░░░░░░░░ we make Sometimes government ░░░░░░░░ to let tax avoidance ░░░░░░░░ and they choose tax ░░░░░░░░ That s what the ░░░░░░░░ countries did But the ░░░░░░░░ S can make other ░░░░░░░░ and the U S ░░░░░░░░ learn from the European ░░░░░░░░ And the Warren wealth ░░░░░░░░ for instance learns from ░░░░░░░░ experience It starts much ░░░░░░░░ in the wealth distribution ░░░░░░░░ million In Europe it ░░░░░░░░ 1 million It has ░░░░░░░░ exemptions No deductions whatsoever ░░░░░░░░ comes with much more ░░░░░░░░ for the IRS to ░░░░░░░░ sure that tax evasion ░░░░░░░░ limited And you know ░░░░░░░░ difference between the U ░░░░░░░░ and Europe is in ░░░░░░░░ if I m French ░░░░░░░░ I move to London ░░░░░░░░ don t have to ░░░░░░░░ taxes anymore in France ░░░░░░░░ the U S if ░░░░░░░░ are an American citizen ░░░░░░░░ if you move abroad ░░░░░░░░ still have to pay ░░░░░░░░ in the U S ░░░░░░░░ I know very well ░░░░░░░░ So that s a ░░░░░░░░ difference That means you ░░░░░░░░ t have this problem ░░░░░░░░ tax competition That was ░░░░░░░░ key reason why European ░░░░░░░░ many of them abandoned ░░░░░░░░ wealth taxes TUR Because ░░░░░░░░ saw people just leaving ░░░░░░░░ countries and going to ░░░░░░░░ tax havens Tax places ░░░░░░░░ Exactly But the U ░░░░░░░░ is not in that ░░░░░░░░ today TUR Gabriel Zucman ░░░░░░░░ thank you so much ░░░░░░░░ coming on.”