The US also taxes you no matter where you live in the world. That’s not enough apparently… (only Eritrea and the Philippines practice this too - citizenship-based taxation).
Basically you’re paying for the right to vote in national elections as well as Seal Team 6 hostage rescue if you should get captured by terrorists or whatever.
Well theoretically at least you could tax the shit out of rich people even if they “flee” the country. Here in France it’s always “no lo no we can’t tax the rich because then they’ll leave!!”
People say that about the rich in America too. “Don’t tax them, they’ll leave and take all their money with them!”
But I dunno, maybe we shouldn’t let people get so rich we’re terrified of them leaving with their money? Just a passing thought…
But also I call bullshit. Doing business in America is, for the foreseeable future, profitable. The rich aren’t going to leave because they’re making less profit as long as “less profit” is more than “how much profit will I have if I leave”
Of course, now that they’ve completely captured the US government, the conversation is kind of moot.
The US also taxes you no matter where you live in the world. That’s not enough apparently… (only Eritrea and the Philippines practice this too - citizenship-based taxation).
Basically you’re paying for the right to vote in national elections as well as Seal Team 6 hostage rescue if you should get captured by terrorists or whatever.
Lol if you think we send in Seal team 6 for hostages of foreign countries.
Well theoretically at least you could tax the shit out of rich people even if they “flee” the country. Here in France it’s always “no lo no we can’t tax the rich because then they’ll leave!!”
In theory. In practice, 2000 $ is pocket change for them.
Lots of people fled England in the 50s-60s because the tax rates were insane. George Harrison even wrote “Taxman” about it.
People say that about the rich in America too. “Don’t tax them, they’ll leave and take all their money with them!”
But I dunno, maybe we shouldn’t let people get so rich we’re terrified of them leaving with their money? Just a passing thought…
But also I call bullshit. Doing business in America is, for the foreseeable future, profitable. The rich aren’t going to leave because they’re making less profit as long as “less profit” is more than “how much profit will I have if I leave”
Of course, now that they’ve completely captured the US government, the conversation is kind of moot.
If the US reestablishes the 91% top-tier tax bracket we had for most of the 20th century, the rest of the world will quickly follow.
Nobody will be in that bracket; they will take great efforts raise their tax deductible “expenses” (or reduce their revenue) in order to avoid it.
Well then you can block them from investing in the US or owning property. That would put a serious crimp on them.
Except rich people don’t pay taxes in the US, the best we can hope for is them spending or starting a business.
Yup I found out about that a couple years ago. It’s crazy.