Wealth tax proposals gain momentum as research disputes millionaire migration fears

Across major cities and nations, a growing political movement is pushing to raise taxes on the wealthy, but the debate hinges on a fundamental question: do such policies actually work, or do they simply drive the rich away? From New York City under newly-inaugurated Mayor Zohran Mamdani to London and California, proposals to tax high earners are gaining momentum, yet they face fierce resistance rooted in a powerful narrative about millionaire migration.