The Facts
Comprehensive facts, data, and research on wealth tax proposals. All information is sourced from economic research, legal analysis, and real-world case studies.
Economic Research
Revenue Volatility
Research shows that wealth taxes create extreme revenue volatility because they tax net worth, which fluctuates with markets. A 20% market correction can wipe out billions in projected revenue.
Source: Economic Research, Tax FoundationCapital Flight Analysis
Studies consistently show that punitive wealth taxes drive high earners and businesses to relocate, permanently reducing the tax base. This effect is well-documented in economic literature.
Source: Tax Foundation, Economic ResearchAdministrative Costs
Valuing illiquid assets (private companies, art, real estate) is complex and expensive. Research shows administrative costs often consume a significant portion of revenue collected.
Source: OECD, Economic ResearchInternational Experience
European Wealth Tax Repeals
Twelve European countries implemented wealth taxes between 1990 and 2017. Eight have since repealed them, including France (2017), Sweden (2007), and Germany (1997), due to capital flight and low revenue yields.
Source: OECD, Economic ResearchRevenue Performance
Countries that maintained wealth taxes typically collected less than 1% of total tax revenue, while experiencing significant capital flight and administrative complexity.
Source: OECD Tax StatisticsLegal & Constitutional Analysis
Saenz v. Roe (1999)
Supreme Court case affirming the right of citizens to move between states without penalty. Exit taxes that attempt to tax individuals after they leave a state violate this fundamental right.
Source: U.S. Supreme CourtDormant Commerce Clause
Legal analysis shows that taxing worldwide assets violates the "fair apportionment" requirement and unduly burdens interstate commerce, creating constitutional challenges.
Source: Constitutional Law ExpertsDue Process & Retroactivity
Retroactive taxation of past residency for a tax that didn't exist violates the principle of fair notice under the Due Process Clause, creating significant legal risk.
Source: Tax Law ExpertsCase Studies
San Francisco Executive Tax
San Francisco passed an "Overpaid Executive Tax" in 2020, but voters repealed it in 2024 with nearly 70% support after experiencing economic consequences including business flight and budget deficits.
Source: San Francisco Treasurer & Tax CollectorFrance's Wealth Tax Repeal
France repealed its wealth tax in 2017 after decades of capital flight. Research showed that the tax generated less revenue than projected while driving high-net-worth individuals to relocate.
Source: French Ministry of Finance, Economic ResearchResearch Methodology
All figures and claims on this site are backed by:
- Official government documents and analyses
- Peer-reviewed economic research
- Legal and constitutional analysis from experts
- Case studies from jurisdictions that have tried wealth taxes
- Independent economic and policy research
- Data from international organizations (OECD, IMF)
This page is regularly updated as we compile and verify additional sources. If you have relevant research, data, or documents that should be included, please contact us.