Don’t be fooled: Democrats wouldn’t do this to their best friends. The effect of such an announcement is simply to boost interest in offshore banking.
Democrat politicians love to vacation in the Caymans, Bermuda, etc., where (for instance in Bermuda) signed photographs of these “famous Americans” line the walls of restaurants for decades.
Michael Bloomberg keeps a lavish estate in Bermuda, for instance, walled off. His interest, of course, in Bermuda, is the banks.
The wealthiest Americans are sometimes loath to head for the Gulch, and they must do so through layers of holding companies and beneficial owners, but when they take it, it means plane-loads of cash for the Democrats’ banker friends, to whom favors are always due.
But you can’t move urealized assets offshore.