From Taxation to Confiscation: Europe’s Wealth Exodus and the Coming Asset Seizure
1st June 2025
France just announced new tax hikes. Italy is raising capital gain taxes from 26% to 42%. The UK got rid of their “non-dom” rules essentially destroying tax incentives, and across the rest of Europe it’s plain wealth taxes.
Norway showed us how this will transpire. The muppets in power there raised wealth taxes to bring an additional $146 million in yearly tax revenue. Instead, individuals worth $54 billion left the country, leading to a loss of $594 million in yearly wealth tax revenue. A net decrease of $448 million.
Spain just recorded 1,000 fewer high-net-worth taxpayers. It was the first negative millionaire migration for the country since they imposed a wealth tax.
Thousands of millionaires are leaving while (coincidentally) tax pressure is at all-time highs.
Democracy is a joke. Who for example voted for higher taxes? Nobody of course, but the peasants will get them anyway.
In the UK, it’s the same story. Millionaires and billionaires are escaping as fast as they can.