While trying to make the case for keeping taxes on the rich as low as possible, Reihan Salam reminds us who’s really important:
The U.S. is a country rich in amenities that Dubai, Doha, and Singapore can’t really match. So many of the ultrarich will pay a premium to live here, just as wealthy individuals pay a premium to live in California or Paris. But how big a premium will they pay? And how long will our edge in amenities last?
It’s useful to assume that the answer is not that big and not that long. Because if we’re wrong, a trickle of adventure-seeking emigrants could become a cascade of our best and brightest.
Ultrarich = best and brightest. “Conservatism” in a nutshell.