alt Hacker NewsUS currently hold enough power to make them paying their debts oversees too.
Also, I think it is equilibrium of interests of all involved parties: rich pay 0.5%/y of wealth tax, population is healthier, country is stronger and protects interests and safety of rich. The problem is mostly to make them realize this.
> US currently hold enough power to make them paying their debts oversees too.
The US is increasingly a less relevant country every year. With a wealth tax, yes, all those Americans will have their wealth eventually confiscated (0.5% a year will add up quickly year after year, investments will unwind so wealth will stop accumulated, and eventually it's gone), but I doubt the rest of the world will care and just move on and decide crazy things that happen in the US are like the crazy things that happen in Iran.