4 ms·
Tax the money when it is moved to an account out of the country. Every country should do this. A person who accumulates great wealth within a country should h
by skhunted 2y ago
Tax the money when it is moved to an account out of the country. Every country should do this. A person who accumulates great wealth within a country should have to pay a large tax whenever they move that money out of the country.
- giantg2 2y agoHow do you manage that when they can create legal entities to transfer amounts under the limit, or pay for physical transportation of cash or commodities? The suggestions sound like great ideas until we actually get into enforcement.
- skhunted 2y agoI believe one can enforce export restrictions and whatnot. It’s not an unsolvable problem though loopholes will be found and thus changes will need to be made so on and so forth.
- giantg2 2y agoYou can have export restrictions in law, it's entirely different to enforce them. We can look at things like the drug trade to see how well that works.
- skhunted 2y agoI see your point. Since we can’t have 100% accuracy on enforcement we should not enact this. Indeed, no law should ever be enacted until 100% enforcement can be obtained. Thank you for this insight. I’m now an anarchist libertarian. Ban all laws!
- wahnfrieden 2y agoNo need for the anarchism collateral attack in response to someone advocating for state backed freedoms for capital
- skhunted 2y agoIt’s been made clear that all laws are useless unless they have 100% compliance. Hence the need the for anarchism. But while we wait for anarchism thankfully there are people like you out there vigilantly seeking to safeguard the freedoms for capital. Someday we will live in a society where we properly look after the billionaires. They have been oppressed for too long.
- giantg2 2y agoPlease have a legitimate response. Strawmanning is not cool.
- dang 2y agoWe've asked you before to stop using HN primarily for political and ideological battle. You've not only continued to do it, you're doing it exclusively. That's well over the line at which we ban accounts, so if you don't stop, we're going to have to ban you. When people who actually agree with you start emailing us complaints about how your account is abusing HN, that's quite the data point. And no, it has nothing to do with agreeing or disagreeing with you; the same applies to any HN user and any political passion. It just has to do with wanting to preserve this place for its intended purpose, which I assume you're well aware of, as you've been on the site for well over a decade and used to post quite differently. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html
- ThrowawayR2 2y agoMany (most?) western countries do not permit ex post facto (retroactive) laws, so the the wealthy simply move out before the law goes into effect.
- skhunted 2y agoOh no. I guess then it should never be implemented. People in the future will forever be allowed to transfer wealth as they see fit without taxation because of this loophole you found. Though in the U.S. we have precedents on this: https://www.investopedia.com/terms/t/tax-reform-act-of-1993.asp https://www.investopedia.com/terms/t/tax-reform-act-of-1993....
- ThrowawayR2 2y agoCrank that up high enough to even hope to make a dent and what you get is https://www.theguardian.com/world/2014/dec/31/france-drops-75percent-supertax https://www.theguardian.com/world/2014/dec/31/france-drops-7... Don't fight battles you know aren't going to win and don't enact laws you know are going to backfire.
- skhunted 2y agoYou missed the part about “every county should do this”. The free rider problem is an issue. Also, my proposal is different than an income tax. A person who accumulates great wealth from within a country should not be allowed to transfer it to another country without a major tax on it.