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Mark Carney's attacks on Canada's public service should concern all Canadians
(noraloreto.substack.com)
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this post was submitted on 21 Mar 2026
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Its a myth in the sense that it isnt significant except in extreme scenarios (e.g. violent regime change, economic collapse). A modest wealth tax will not make that happen.
I mean, it's different because California is a state and not a country, but they are seeing some capital flight because of their wealth tax. I'm not saying that makes the wealth tax not worth it, I'm just saying that it is a real effect.
Free trade created the free movement of capital but not the free movement of labour, and capitalists can exploit that.
Has this capital flight resulted in a measurable negative impact to California's economy?