I'm sorry but I can't buy the "rich will take their capital elsewhere" mantra anymore because they already do that. From Cayman to Dubai, there are tax havens a

I'm sorry but I can't buy the "rich will take their capital elsewhere" mantra anymore because they already do that. From Cayman to Dubai, there are tax havens all over the world and the smart rich do use them as their headquarters and capital planning; they know how to manage their assets better than you and me. The only way for rich to get richer is to invest smartly. And if you make investing difficult, it doesn't mean they'll stop investing. It means they'll have to figure out how to make money despite the difficulty in investing. Yes, they can invest anywhere in the world but they are free to do that already and there are already many incentives for them to do so. The rich aren't suddenly going to take all their money out from US and put it into India or China. They know better than that. Additionally, so what if the top few % take their capital away elsewhere? There are millions of entrepreneurs who can fill their space. These "rich will leave and you will suffer" tactics make sense if they aren't already investing elsewhere heavily and if the rest of the world is a much better investment opportunity than the US. But that isn't so and hasn't been so in a long time. I'm not saying tax the rich unfairly. I'm just saying I don't buy the "if you tax the rich they will leave" line anymore because that line only works in an untapped free market for capital with perfect competition, which we do not have anywhere in the world.