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Easy ways to stop that, start with a huge tax on your wealth when you renounce citizenship. They built the wealth on the back of their nation, on the back of t
by mattmanser 6y ago
Easy ways to stop that, start with a huge tax on your wealth when you renounce citizenship.
They built the wealth on the back of their nation, on the back of the infrastructure, education, laws and blood of their ancestors, no good reason they should keep it when they choose to leave.
It's the fundamental basis behind tax. 95% tax on any wealth over, say, $500k on renouncing citizenship, total forfeit if found to be hiding assets, done.
- felipemnoa 6y ago>>Easy ways to stop that, make it illegal to take your wealth when you renounce citizenship. If you have to come up with ways to stop people from fleeing your country instead of too many people wanting to enter your country then you probably have a problem. And no, I don't think it is as easy as you say. Simple sounding solutions like this can have huge disastrous consequences.
- mattmanser 6y agoThe two aren't mututally exclusive.
- hkai 6y agoSee, I always thought that socialism degenerates into tyranny. My socialist country didn't even allow people to travel - to prevent capital flight and brain drain - and now you are proposing to basically close borders to some people until you buy your own freedom. That's scary as hell and a return back to 1920s.
- mattmanser 6y agoHa, shows what you know about capitalism. America is one of the only countries to tax their citizens income abroad. This would affect 0.001% of people who had managed to capture a huge amount of wealth and were attempting to avoid taxes.