Deranged.

Wouldn't those with wealth just leave America if there's 70% tax? Already those with wealth redirect income to tax havens, hence the always mass employment of lawyers, cpas and cfas in various areas of Central America and European countries.

Maybe I am missing something but wouldn't those companies and individuals now just end up providing more resources to foreign companies.

My speciality is not in taxation at that level so I am daft on the issue.

Correct. There would be significant efforts to avoid getting wrecked by taxes. For many moving would be the best option.
There was a recent exodus of millionaires from France for similar reasons.

thats right

we R E A L I T Y

Anarchy capitalism not dangerous lol...





In France, in 2016, some studies claimed 12.000 millionaires have left the country, while some others were saying less than 1000.

And in 2018:

According to an annual survey of Credit Suisse, France has the second largest increase worldwide in the number of millionaires. Just Behind US.
The circle of French millionaires welcomed 259,000 new members in one year, according to the annual study of Credit Suisse.


Conclusion: was easy.



This post was edited by Saucisson6000 on Feb 16 2019 04:05pm

So in 2016 you had the highest amount of millionaires ever leave a country and some return again after tax cur promises in the future reducing corporate taxes from like 35 to 22 or 25 (can't remember all figure off hand) by 2022. Doesn't that just further prove people will leave unless the promise of lower tax.

No, read below:




https://www.bloomberg.com/news/articles/2018-05-16/france-s-richest-are-world-beaters-when-it-comes-to-wealth-gains

D e s t r o y e d.

RIDICULOUSLY HIGH TAXES IS GOOD




This post was edited by Saucisson6000 on Feb 16 2019 04:09pm

You're going to have to quote the part of the article that defeats my point of they came back due to promises of lower future taxes as promised by the current administration.

No i don't need considering how ridiculous is the amount (and the reliability of the studies) of leavers vs amount of new ones.

Yes the new ones only coming after the promise of lower future taxes.... Which is my entire point.