4 ms·

LOLOL Utopian ideas such as that are predestined to failure because human nature doesn't work the way you think it does. You can raise taxes as much as you wa

LOLOL Utopian ideas such as that are predestined to failure because human nature doesn't work the way you think it does. You can raise taxes as much as you want. The wealthy don't care. Why should they? They can just leave. Look at the UK. They tax the bejesus out of people. Now count how many wealthy UK entertainers (selected for having acquired new wealth, as opposed to old family money that's more or less tied to the land) emigrate after they score. So who's going to fund your basic stipend after you tax away the wealthy and the corporate taxpayer?

unprepare 11y ago
>(selected for having acquired new wealth, as opposed to old family money that's more or less tied to the land) Those are exactly the people we want to tax higher. the nouveau riche generally actually do something to earn money, the trust-fund/inheritance class produces very little benefit but captures vast amounts of wealth. Also, London has ever increasing real estate costs specifically because of all of the ultra rich foreign investors buying property in London. That seems to run counter to your claim that rich people will flee anywhere with high taxes. Also to leave the country, you would have to pay an exit tax. You will also have to relinquish your US citizenship. Those are two costs that i would bet the vast majority of the wealthy would not be willing to pay, no matter what the current tax climate is.
- tired_man 11y ago
  Exit tax? LOL. Good luck collecting. The operative part of that term is EXIT. Citizenship that guts your wealth is not worth having. Any number of countries that don't have such avaricious tax laws would be happy to have a new, monied resident to spend money there. Absentee Landowners. I'll bet the Irish are laughing up their sleeves at England being reduced to foreign ownership.

4 ms·

LOLOL Utopian ideas such as that are predestined to failure because human nature doesn't work the way you think it does. You can raise taxes as much as you wa

by tired_man 11y ago

unprepare 11y ago
>(selected for having acquired new wealth, as opposed to old family money that's more or less tied to the land) Those are exactly the people we want to tax higher. the nouveau riche generally actually do something to earn money, the trust-fund/inheritance class produces very little benefit but captures vast amounts of wealth. Also, London has ever increasing real estate costs specifically because of all of the ultra rich foreign investors buying property in London. That seems to run counter to your claim that rich people will flee anywhere with high taxes. Also to leave the country, you would have to pay an exit tax. You will also have to relinquish your US citizenship. Those are two costs that i would bet the vast majority of the wealthy would not be willing to pay, no matter what the current tax climate is.
- tired_man 11y ago
  Exit tax? LOL. Good luck collecting. The operative part of that term is EXIT. Citizenship that guts your wealth is not worth having. Any number of countries that don't have such avaricious tax laws would be happy to have a new, monied resident to spend money there. Absentee Landowners. I'll bet the Irish are laughing up their sleeves at England being reduced to foreign ownership.