Listening to local talk radio on the way to work this morning a professor was on proposing that we need a "wealth ceiling" that didn't allow any one individual to have more than $10 million in "total wealth". I'm not sure how he wants to measure 'total wealth" but I am curious to see if any of you folks think the concept of having a 'wealth ceiling" was a good one?
As someone with a little over $10mil in assets I find this abhorrent.
"Hey Cletus, it looks like we got us one of those there Lim-O-Zine Lib-Rals"
b/w
Can I borrow a few bucks?
Rock, I am gonna need to see 2 years of tax returns and bank statements.
Terrible idea. Rich people would leave and tax revenue would plummet.
Where are they going to move? Socialist-ass Europe? Some Banana Republic? Hot ass Dubai? Not for long, then they'd coming crawling back
When one stands to lose tens of millions or even billions of dollars in wealth, almost anywhere less confiscatory is a better place to be. Europe/Australia would be just fine. And they could still spend plenty of time vacationing in the United States if they wanted. And I'm sure they'd come back after the country's swift and inevitable collapse and buy it back up at fire-sale prices.
Terrible idea. Rich people would leave and tax revenue would plummet.
Where are they going to move? Socialist-ass Europe? Some Banana Republic? Hot ass Dubai? Not for long, then they'd coming crawling back
When one stands to lose tens of millions or even billions of dollars in wealth, almost anywhere less confiscatory is a better place to be. Europe/Australia would be just fine. And they could still spend plenty of time vacationing in the United States if they wanted.
For years the UK rich moved to the U.S. for this very reason.
Listening to local talk radio on the way to work this morning a professor was on proposing that we need a "wealth ceiling" that didn't allow any one individual to have more than $10 million in "total wealth". I'm not sure how he wants to measure 'total wealth" but I am curious to see if any of you folks think the concept of having a 'wealth ceiling" was a good one?
As someone with a little over $10mil in assets I find this abhorrent.
"Hey Cletus, it looks like we got us one of those there Lim-O-Zine Lib-Rals"
b/w
Can I borrow a few bucks?
Rock, I am gonna need to see 2 years of tax returns and bank statements.
On second thought, you're rich and I'm not so you should just give me some money.
Terrible idea. Rich people would leave and tax revenue would plummet.
Where are they going to move? Socialist-ass Europe? Some Banana Republic? Hot ass Dubai? Not for long, then they'd coming crawling back
When one stands to lose tens of millions or even billions of dollars in wealth, almost anywhere less confiscatory is a better place to be. Europe/Australia would be just fine. And they could still spend plenty of time vacationing in the United States if they wanted. And I'm sure they'd come back after the country's swift and inevitable collapse and buy it back up at fire-sale prices.
anywhere rich people would want to live in western europe has much higher tax rates than the US...
Terrible idea. Rich people would leave and tax revenue would plummet.
Where are they going to move? Socialist-ass Europe? Some Banana Republic? Hot ass Dubai? Not for long, then they'd coming crawling back
When one stands to lose tens of millions or even billions of dollars in wealth, almost anywhere less confiscatory is a better place to be. Europe/Australia would be just fine. And they could still spend plenty of time vacationing in the United States if they wanted. And I'm sure they'd come back after the country's swift and inevitable collapse and buy it back up at fire-sale prices.
anywhere rich people would want to live in western europe has much higher tax rates than the US...
This isn't true, exactly.
Monaco, Switzerland, the Channel Islands, the Isle of Man and a couple of others offer tax havens for wealthy cheapskates. How much time the wealthy cheapskates who take advantage of this actually spend in their new "homes" actually spend in them is another matter.
And the US tax code offers all sorts of advantages to the filthy rich. Anyone with an income in the millions isn't trying if he is actually paying more than 20% of his income in taxes. Warren Buffett isn't kidding when he says his secretary pays a much higher rate than he does. It's a fact.
i was going to write "except switzerland"...
monaco, the isle of man, isle of jersey, etc are way too small to be considered somewhere you'd want to live...
Rich people need poor people so they can exploit them and profit off their labor. Rich people make a big stink about welfare and taxes. These people are selfish, detached fucks who don't give a shit about other human beings or the country they live in. Capitalism and patriotism are two separate things. America is not thriving as a nation because there is a small number of people who have the bulk of the money which then equates to power. They are more than happy to sit around and count their gains while the majority of Americans suffer. They hold on to their capital instead of pitching in and pushing for things like education and health care.
It's been that way for a long time now and just continues exponentially in the same direction. Will it ever change or is that just the way it is?
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Rock, I am gonna need to see 2 years of tax returns and bank statements.
Where are they going to move? Socialist-ass Europe? Some Banana Republic? Hot ass Dubai? Not for long, then they'd coming crawling back
For years the UK rich moved to the U.S. for this very reason.
On second thought, you're rich and I'm not so you should just give me some money.
anywhere rich people would want to live in western europe has much higher tax rates than the US...
i was going to write "except switzerland"...
monaco, the isle of man, isle of jersey, etc are way too small to be considered somewhere you'd want to live...
It's been that way for a long time now and just continues exponentially in the same direction. Will it ever change or is that just the way it is?