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Of course it's a good use of time. Knowing where the wealth is, and who controls it, is a prerequisite for forcing it to be shared more equitably.
by blackbagboys 9y ago
Of course it's a good use of time. Knowing where the wealth is, and who controls it, is a prerequisite for forcing it to be shared more equitably.
- microcolonel 9y agoCan't tell if you're being facetious or not, but "forcing" the wealth to be "shared more equitably" is a surefire way to generate capital flight. That's alright if your goal is to turn the United States into a giant Venezuela with nukes.
- frgtpsswrdlame 9y agoDo you believe rich people will leave the United States if we taxed them more heavily?
- mmirate 9y agoSuch a thing is only logical for them, yes.
- frgtpsswrdlame 9y agoI think most of them enjoy the US beyond just our tax rates but if they really are pure citizens of the world who have no interest in the US, then let them leave and raise those tax rates.
- alehul 9y agoThey'd be able to move their capital outside the country while still residing inside it, and enjoying the other U.S. benefits. Assuming those with the ability to move their wealth overseas would do so, the people most affected by substantially raising taxes would be those without enough wealth to move it... those outside the top 1%, 0.1%.. whatever super-rich people the policy aims to target. Although it isn't ideal that the wealthy can 'shop around' for the most tax-friendly nations, it certainly happens, and Switzerland is a fine example of that capital flight in effect.
- blackbagboys 9y agoYes, we already know that the wealthy will attempt to avoid their obligations to the rest of society by every means at their disposal. Hence the utility of new technology to track them down. ;)