A lot of money would be moved overseas.
Vast amounts of money would move overseas as would any high earners who could. The cost for f capital would skyrocket. Thus businesses would not expand or even get started. It would tank the economy. Lots of high earners would go John Galt and retire.
Over and above the disastrous economic consequences, taking 100% of somebody’s earnings - the fruits of their labor - is akin to slavery.
A lot of money would be moved overseas.”””
ALOT of people would be moving overseas.