Posted on 04/12/2010 8:19:59 AM PDT by SeekAndFind
Edited on 04/12/2010 8:21:54 AM PDT by Admin Moderator. [history]
The numbers are small. A modern record, to be sure, and an embarrassment to some. But nothing to be alarmed about. Better to just curse their greed, slap an exit tax on their assets, and move on. There are plenty more where they came from.
(Excerpt) Read more at realclearmarkets.com ...
That giant sucking sound started after WWII.
There is no where left free to run to.
Those boys aren’t going to have to worry about getting any diseases from that pure sweet young lady, no sir!
I have known that for the last half century and still find myself riding a wealth pack rat . Maybe a small team of pack rats at best .
They’ll go where the money has been going for the past 50 or so years - India, China, and other emerging third-world countries where profits are high and the regs minimal.
With the end of the Cold War and the abandonment of Communism by China, Russia and Eastern Europe, there are many more options for capital to go. Life was peachy here in the US, when most of the rest of the world was engaged in very inefficient, centrally planned economies.
If I was going to go any where I might invest my money in Kazakhstan.
Singapore is an English-speaking country.... more or less.
The idea is to find someplace more disorganized.
Vacationed there in 2005 and also my first choice. Hat tip to Pinochet, who managed to purge a number of lefties.
I would bet both of their nannies and all of their hired tutors, tennis instructors, swimming teachers, dance teachers, riding teachers, piano teachers, maids, butlers, cooks etc
all speak Mandarin to them
His way of living in Singapore is not what I can afford!
I’m more worried about when the “rich” go Galt...
It is immoral to take money from people who work
Where to? Well the article is about the 1% of Americans who pay 40% of the taxes. Places like The Cayman Islands, Bermuda, the Bahamas, Costa Rica, Belieze, Hong Kong and Singapore, and Monaco all come to mind as popular tax havens for the rich.
Probably a significant number are here on green cards, think of all the wealthy Indian’s from high-tech industry. Many of them can go home to India and enjoy lower taxes and lower cost of living. Their market is growing fast, too. So plenty of opportunity to invest and make good profits there.
The endless tax increases that is the only Democratic plan for fixing our budget woes will force people to find alternatives. Like many Freepers I’ve already moved twice, in part to place myself into more tax-friendly states. How many wealthy people (and even the merely productive high wage earning middle class like myself) have bailed on California? One million? More?
Nam muy chin....
It isn't. But, I hope you're not implying that a wealth tax would be fairer.
The truly rich are unlikely to move because they already know how to shelter their wealth. What we will do is what BO and the democrat party have planned all along. We in the middle class (upper, middle and lower) will be classified as rich and we will be taxed to our last breath. That has always been the plan; get rid of the Kulaks and is the reason why the truly big money people mostly support BO and the democrats.
FUBO
Says them. But, really, the USA has no ability to force outher countries to follow our laws vis-a-vis former citizens of the USA.
The Soviet Union considered the skills it's athletes and artists had to be the property of the USSR. I'm sure they had all sorts of thing that the many artists who defected during the Cold War were supposed to do to make up their bills to the USSR. We didn't honor those laws. Why should these other countries care about our extra-territorial claims. We are becoming a pariah nation, like the USSR was.
Maryland couldn't balance its budget last year, so the state tried to close the shortfall by fleecing the wealthy. Politicians in Annapolis created a millionaire tax bracket, raising the top marginal income-tax rate to 6.25%. And because cities such as Baltimore and Bethesda also impose income taxes, the state-local tax rate can go as high as 9.45%. Governor Martin O'Malley, a dedicated class warrior, declared that these richest 0.3% of filers were "willing and able to pay their fair share." The Baltimore Sun predicted the rich would "grin and bear it." One year later, nobody's grinning. One-third of the millionaires have disappeared from Maryland tax rolls. In 2008 roughly 3,000 million-dollar income tax returns were filed by the end of April. This year there were 2,000, which the state comptroller's office concedes is a "substantial decline." On those missing returns, the government collects 6.25% of nothing. Instead of the state coffers gaining the extra $106 million the politicians predicted, millionaires paid $100 million less in taxes than they did last year -- even at higher rates.
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