They can move out of the country but they cannot move out of the world. An international wealth tax CAN be done, the only obstacle is mere political will.
And it must be said, the ability for the rich to take their assets and leave has been greatly over-stated, since much of it is in the form of land.
Extreme wealth must be taxxed, or we will all live in desperate poverty.
The wealth of the rich is still growing and it will continue to grow automatically until the middle class ceases to exist. If we do not take the assets back, it will become impossible for normal working people to ever buy a house, or have any economic power over their own lives at all - nevermind the political control or the media manipulation.
Extreme wealth concentration is THE biggest issue facing society. Mamdani is absolutely right.
Every major political event in history was once an unrealistic proposal. Whether it can happen next week or not has absolutely no bearing on the fact that it must be done.
Reach out to your local political rep and tell them you support a wealth tax. Reach out to your local boomer FB page and tell them you support a wealth tax. Make the case. If public opinion and political opinion isn’t there then there is work to do. Put away minor nit picks and technical problems, they absolutely do not matter in the grand scheme of things. Build the momentum, tax the damn rich.