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Why would a billionaire leave the US? There they are like gods with services to cater to their every whim. Nowhere else in the world will roll out the carpet fo

Why would a billionaire leave the US? There they are like gods with services to cater to their every whim. Nowhere else in the world will roll out the carpet for big money like the US does (excluding maybe Monaco and other small states). I just see 3 as a false assumption, as any country they 'flee' to will have higher taxes anyway. I live in New Zealand and a billionaire here can have a lot of land but otherwise we just don't have the infrastructure to support that ultra high end lifestyle. They would basically be average people with nice toys and a big house here.

dannyw 5y ago
Do all billionaires want the big carpet? What about those that want a lot of land and houses, complete financial irrelevance for their family's lifestyles, and perhaps meaningful work by directing a large company or endowment.
Dracophoenix 5y ago
Warren Buffet lives in a 6000 sq ft (~600 sqm) house, drives a 2014 Cadillac, and has McDonald's for breakfast. Despite owning one of the most valuable companies in the world at most one could say he lives like a single-digit millionaire. If your characterization of the "average people" of New Zealand is true, then it seems like he would have no problem fitting right in.
- BigJono 5y ago
  So why would he uproot his entire life that he's happy with to move somewhere with a slightly lower tax rate when he can still support his relatively modest lifestyle a thousand times over?
  - Dracophoenix 5y ago
    If the United States accepts a federal wealth tax, moving to a low tax state like South Dakota or Alaska won't help. And despite what you imply in your last statement, owning a successful business isn't just limited to how much money it makes. Few people just give up the sum of their life's work or accept others' taking away from it. Just because others believe that the Warren Buffets of the world have achieved "enough" does not make it so.
    - PaulDavisThe1st 5y ago
      Buffet has aggressively written about and commented on the need for higher taxes on people like himself.
- over_bridge 5y ago
  Warren Buffet would be welcome but he'd have a hard time meeting new founders and companies to invest in. Gabe Newell has been hanging out here for a while too and he's fairly down to earth. I guess my point is that you lose a lot of the perks of being rich by leaving the USA. If you are happy without them then maybe the wealth tax doesn't impact you anyway and you stay where you are

dannyw 5y ago

Do all billionaires want the big carpet? What about those that want a lot of land and houses, complete financial irrelevance for their family's lifestyles, and perhaps meaningful work by directing a large company or endowment.

Dracophoenix 5y ago

Warren Buffet lives in a 6000 sq ft (~600 sqm) house, drives a 2014 Cadillac, and has McDonald's for breakfast. Despite owning one of the most valuable companies in the world at most one could say he lives like a single-digit millionaire. If your characterization of the "average people" of New Zealand is true, then it seems like he would have no problem fitting right in.

BigJono 5y ago
So why would he uproot his entire life that he's happy with to move somewhere with a slightly lower tax rate when he can still support his relatively modest lifestyle a thousand times over?
- Dracophoenix 5y ago
  If the United States accepts a federal wealth tax, moving to a low tax state like South Dakota or Alaska won't help. And despite what you imply in your last statement, owning a successful business isn't just limited to how much money it makes. Few people just give up the sum of their life's work or accept others' taking away from it. Just because others believe that the Warren Buffets of the world have achieved "enough" does not make it so.
  - PaulDavisThe1st 5y ago
    Buffet has aggressively written about and commented on the need for higher taxes on people like himself.
over_bridge 5y ago
Warren Buffet would be welcome but he'd have a hard time meeting new founders and companies to invest in. Gabe Newell has been hanging out here for a while too and he's fairly down to earth. I guess my point is that you lose a lot of the perks of being rich by leaving the USA. If you are happy without them then maybe the wealth tax doesn't impact you anyway and you stay where you are