Pete Buttigieg defended a national wealth tax and international tax coordination in a heated exchange, a stance critics say would hurt U.S. competitiveness and push wealthy people and companies elsewhere.

• Buttigieg said a wealth tax makes more sense at the national level than state level, since people and businesses can just move states to avoid it, pointing to wealthy people already fleeing high-tax states like California.
• He compared a wealth tax to a property tax and said current tax rates on income, capital gains, and inheritances have been cut too much, blaming those cuts for much of the national debt.
• He argued for international agreements so other countries can't undercut the U.S. on taxes, which he was pressed on as sounding "globalist" since it could trap wealthy people and companies with nowhere to escape to.
• The host countered that instead of locking down global tax rules, the U.S. should make itself more competitive so people don't want to leave in the first place, citing Elon Musk relocating over clashes with California's governor.
• Buttigieg also flagged a "Trump slump" in Las Vegas tourism, saying Canadians and other foreign visitors are staying away due to tensions with the current administration.

Outlook: Expect the wealth tax and globalist-coordination debate to keep heating up as a 2028-cycle flashpoint, with critics framing it as a threat to U.S. competitiveness and capital flight.