they would threaten to move all operations to somewhere like the Cayman Islands which makes no fucking sense
this post was submitted on 14 Nov 2024
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No such thing. Ask away!
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No. If someone's rich they can lobby if they can lobby they will act within theyre best interest.
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Yes.
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They would fight back, buy all our media sources, and buy our governments to make sure 1 didn't happen.
Sounds familiar... oh wait....
Yes.
In theory - sure. In practice - all countries in the world have to agree to raise taxes, even though individually they are better off betraying this agreement and lowering them, thereby attracting the rich and ending up with more, not less, money.
And if all countries agree to tax the rich the way they should, we might as well go and build socialism everywhere, because not having everyone onboard is a main issue there too.
Why are you arguing against reality? In the world today, some states and countries tax the rich at higher or lower rates than other states and countries, and it's certainly not true that the rich all leave the high tax rate places. The data doesn't lie. You can argue about why they don't all leave, but the facts are there for you to see.
You don't need uniformity around the United States or the world in order to tax the rich effectively. But people like to say what you said, so that you don't even try to tax them.
But I think it would be fun to run an experiment. Why don't we jack up taxes on the ultra-rich across the United States. If the ultra rich move to Venezuela, then all of the savings they have in the US stock market will be taxed at an even higher rate and we will actually get more money from them. And if they were working any cushy CEO jobs, those jobs will now be open for other American citizens, and I'm sure there were plenty of people willing to apply... Of course it doesn't have to be the US. Pick any country, try the same experiment, and get back to us.
Yes, because at the same time they offer a better business environment. US, for example, can do pretty much anything, being de facto commercial center of the world, with highest scale operations historically based there and interconnected to the point they can't just "leave".
Should you run this "experiment" in aforementioned Venezuela instead, you're unlikely to enjoy the result. Although it wouldn't benefit the US in the long run either.
Every country would have to do it. A party here in Switzerland wanted to drastically increase inheritance tax for certain large inheritances, and the rich people threatened so hard to leave the country that everyone believed them and now nobody supports it anymore. (They said their children would not be able to pay the tax because most of their wealth is supposedly in company shares, so if they died their children would have to sell off the companies to Cineese companies which nobody in Switzerland liked to hear)
Of course that's not true. We have data from around the world showing it's not true. It's not even true within the United States if you look at state taxes.
Why not pay in shares?
Yeah, then the corporations would gradually become public too, which would be beneficial.
Theoretically, sure. Pragmatically, we just elected a fascist insurrectionist, and it's not going to happen in the near future.
We?
Yeah, that's fair. US mindset, I'm just still processing our shitshow.
It’s probably not possible at this point. If there was some kind of revolution, poor people could have access to healthcare, education, shelter, and food. You know, basic dignity and hope for a better future. But the problem is that hopeless wage slaves are better for capitalism.
They write the tax laws and buy the politicians to pass those tax laws. So no, we cannot tax the rich.
The newly elected government is actually quite cost efficient in this regard. Since they already are all crooked business men, they don't need to pay anyone to get those tax laws passed.
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