Extreme wealth concentration threatens democracy itself, with 77% of millionaires recognizing that the ultra-rich buy political influence and manipulate elections. The richest 1% now own three times more wealth than the world's total public wealth combined, stripping societies of hospitals, schools and shared resources while ordinary people can't afford decent lives. Taxing the super-rich isn't just about fairness — it's about reclaiming democracy from oligarchs before authoritarianism becomes irreversible.
Wealth taxes are economic poison that destroy jobs, slash wages and drive productive citizens out of countries that impose them. Spain's confiscatory rates exceed 100% of investment returns, literally shrinking wealth rather than growing economies, while collecting almost no revenue. Countries across Europe have repealed these failed taxes after watching entrepreneurs flee and recognizing that punishing success makes everyone poorer, not just the rich.
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