Stephen Moore(@StephenMoore):Europe’s new tax proposals double down on wealth taxes, including unrealized gains, annual wealth levies, inheritance taxes, and even exit taxes on those who leave. But the pattern is hard to miss: when tax burdens rise, capital and talent don’t stay put. Higher rates haven’t solved stagnation. They’ve helped export it to the U.S., Dubai, and beyond.

Stephen Moore

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Stephen Moore@StephenMoore

2026.05.07 14:40

Europe’s new tax proposals double down on wealth taxes, including unrealized gains, annual wealth levies, inheritance taxes, and even exit taxes on those who leave. But the pattern is hard to miss: when tax burdens rise, capital and talent don’t stay put. Higher rates haven’t solved stagnation. They’ve helped export it to the U.S., Dubai, and beyond.