Former President Donald Trump has cautioned against implementing a millionaire tax, citing potential economic instability stemming from wealth redistribution and capital flight. His concerns were voiced during a closed-door meeting with Senate Republicans in Washington D.C., where discussions centered on adjusting high-income taxpayer policies. Trump’s warning highlights the possibility of capital relocation and its impact on various economies. The proposed tax could trigger a shift in financial strategies among high earners, potentially influencing state revenue collection. Expert analysis suggests a history of similar tax hikes has historically led to wealth migration towards alternative asset classes.