Progressive-Democratic Party-run jurisdictions keep raising taxes, and those being taxed keep taking their incomes and assets and leaving those jurisdictions. Indeed, [S]tates with the highest taxes continue to lose the most income to States with far less onerous taxing regimes (including no income tax at all) as this graph, based on IRS data, illustrates.

Meanwhile, Massachusetts’ Progressive-Democrat Senator Elizabeth Warren and a couple of her syndicate confreres are proposing an IRS/Party iron curtain against the Evil Rich leaving our nation altogether: a 40% tax on all assets, not just income or savings or investment accounts, as the price of leaving.

The bill, called the Ultra-Millionaire Tax Act of 2026, would impose an annual 2% tax on the net worth of households and trusts over $50 million, and an additional 1% tax on the wealth of billionaires. To deter the ultra-rich from leaving the US to avoid the new tax, the bill also proposes a 40% “exit tax” on anyone worth more than $50 million who renounces their American citizenship.

California already has an exit tax of sorts, a mix of…aggressive residency and sourcing rules (which can keep you on the hook for California tax if you still have strong ties or California-source income).

The government men of the late Russian SSR were financial pikers in comparison.

This is Party’s platform: raise taxes, and you will like it, or else. And don’t dare try to leave; you won’t like that.