3 ms·
"If even one warren buffet moves (or, more likely, suddenly shifts most of his income to barbados with legal financial engineering), it costs the government mas
by gnosis 17y ago
"If even one warren buffet moves (or, more likely, suddenly shifts most of his income to barbados with legal financial engineering), it costs the government massive amounts of money."
Laws could be made against moving money out of the country, or at least taxing it on its way out.
In fact, last I looked (some time ago) if you had a net worth of over $100k (or was it an income of over $100k a year.. I forget exactly), and gave up your US citizenship, the US government would simply assume you've given up your US citizenship to avoid taxation, and tax you for the next 10 years anyway, despite you no longer being a US citizen.
We need more laws like that.