Will Raising Taxes Cause The Rich To Leave The United States Or Are They Bluffing?

Actually, if you loo at revenues v spending, you might note that the 'longest period of sustained growth' began AFTER the new republican majority stopped the spending.

Just saying...

 

Not very John Galt...It assumes folk are too stupid to know when to quit and get out.

 

if they do not want to pay american taxes, they should not have access to the american market.

the government should not allow them the freedom to benefit from the US market while outsourcing jobs.

 

What a silly post. By and large...the 'rich' are democrats. Which, of course, talk from both sides of their collective mouths. Pointing fingers at the republicans while reaping the financial gains of many republican policies. What a f***ing joke all that partisan posturing is. Because people like you swallow it hook, line and sinker. Follow the money trail. You want to be upset by the rich...look in your own backyard before you start looking in mine.

 

Does that mean we cut off all Chinese goods?

 

I think you have a strong point.

 

Careful, man -- them's fightin' words.

Personally, I'm not sure whether cutting off Chinese goods is really wise. It would hurt their economy, it would hurt our economy, and the trade keeps two huge powers friendly rather than being at each other's throats.

But the option should always be kept on the table. When that option no longer exists, one side has bought the other.

 

No, it's not an option worth considering. Much would be lost, and nothing gained by it.

 

Independence?

 

Not necessarily a gain, given that economic interdependence promotes cooperation between states. Also, autarky doesn't work.

 

I'm an American living abroad. You still pay taxes on all American-sourced income. So if you got rich in America you would need to move all your money out (which would likely result in a huge tax bill for capital gains) and re-invest it all in the foreign country. And they all have taxes, too. And the ones with the lowest taxes are FAR more risky. You have have to work pretty hard to save a few bucks.

 

>>>That part might be true. They prefer to hobnob with Greek shipping magnates on the French Riviera than going to the World Series.

 

yes the US may have to win another world war, establish new economys around the world and start over.

 

americans must pay taxes on overseas income, citizenship cannot be relinquished unless they become an enemy of the state.

 

You get a foreign earned income exclusion. This year it's like $92,000. Of course, since no one is reporting anything to the IRS (except financial institutions).......

If you make millions you can just waltz into the embassy and tell them you no longer wish to be a citizen. It's simple paperwork. Enemy of the state? Please.

 

IRS -- Expatriation Tax
http://www.irs.gov/businesses/small/international/article/0,,id=97245,00.html

If the renouncer has a high income, he will be assessed and possibly
still have to pay tax for up to 10 years after citizenship is
renounced. Anyone else will have to notify the Department of State or
Department of Homeland Security that they have renounced citizenship
or continue to be taxed.

 

Yes, The rich will vote with their feet, just like corporations are doing in California and Illinois....

 

Well they could get zero tax in the United Arab Emirates, and the Saudi Arabian Zakat is a subjective contribution left up to the contributor. Bon Voyage richies. Hope you don't mind 130 degrees all summer (with full coverage clothing for the women). PS - you could buy a round trip ticket.

 

You might ask Denise Rich.

 

She's gone to London, England. I'll ask her about it after the Muslim Brotherhood kicks out the present UK govt and establishes an Islamic state over there. Or have they done it already ? 50% ? 60 ? 65 ?

 

The Right has nothing left. All they use now is scare tactics, lies and unproveable myth's to argue. They will argue that aliens infected Obama's head and that it can't be proven wrong. It's pathetic.

The reason they keep up this charade is because it keeps attention off of them. If they keep pointing the finger, no one looks at them. You notice this recently when the people start wondering about Bain Capital and Romney's response was, "wha...why all of a sudden is there an attack on me when the president has done so much damage" I hear it on REPUBLICAN talk radio all the time when a caller proves them wrong and they quickly say, "Ahhhh...oh I'm sick of the politics, what about this other thing going on" Even Republican friends on facebook, "I'm sick of all this Capital Bain talk, what business is Obama in" Always trying to escape and evade questions about them and continue pointing the finger and immaturely saying "stupid"

 

Both the right and the left have their indiscretions, and that's why neither of them will get my vote in November.

 

I see the strategy. So you think you can keep the rich here to bleed them, to enslave them, to make them pay. Do you realize that most of them are smarter than most of you?

 

Has anyone ever told you hare naief you are?

Let me be the first.

Government is the problem. It is not the solution. At its very best it is a necessary evil. Today it has become intolerable.
Why should anyone stay when wealth is usually easily transferable?

Are you so foolish as to believe the government can print money to escape its enormous irresponsibility?

 

Do you even recognize that your opinion is one of a thug? You have not even considered whether stealing wealth from those who create it is a good thing or a bad thing. In my opinion you have the heart of a tyrant.