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Great point. This is also the reason we can't pass meaningful taxes on the wealthy - including cap gains. Because everyone in the US believes they'll one day be
by crushcrashcrush 8y ago
Great point. This is also the reason we can't pass meaningful taxes on the wealthy - including cap gains. Because everyone in the US believes they'll one day be a millionaire.
- tuesdayrain 8y agoI don't find that to be true from my conversations about this topic. The people I've talked to are afraid of increasing taxes on the wealthy because they're afraid that the wealthy will just choose to relocate to another country, potentially even taking businesses with them.
- crushcrashcrush 8y agoDifferent circles! I think the line of thinking you've brought up is a method of control to never enact meaningful tax policy; but I understand the thinking.
- moomin 8y agoIt’s worth bearing in mind this is literally a talking point thought up and promoted by the rich. There have been studies in this. They suggest the exact opposite: there just aren’t many Saverins in the world. Equally, business location seems to have very little to do with personal taxation. This all funnels down to a fundamental misunderstanding of the source of wealth: it starts with a working economy where people buy stuff and work. The rich, like it or not, don’t do much of either relative to their wealth.