this post was submitted on 27 Aug 2023
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Have you ever LIVED in one of those tax havens? Because I have, and trust me, rich folks ain't up and moving to a tiny wild west country controlled by black people anytime soon. Especially when they can get the exact same tax havens benefits in Delaware, Wyoming, Nevada....
Stop falling for the propaganda that the Caribbean is causing problems for us. They're not. Our tax code created the incentives. We're the problem.
Ireland maybe?
You're wrong. Accept it. The idea that the rich will flee if we tax them is propaganda perpetuated by the rich to keep us from trying.
You think it's propaganda, I know it has already happened several times, just not in the US because they're in charge of it
Oh you know, do you? Do share please.
It hasn't happened in the US and it isn't going to happen in the US because above all else, rich people favor the quality of life they're able to achieve in rich countries. Where are they gonna flee, the EU? Where taxes are already higher? Ireland you said? A tiny country with little in the way of American-style luxury amenities that has zero interest in allowing them to immigrate there?
The rich will stay just like they did back in the 50s when the highest marginal tax rate was 90%. It's time to make them pay their share for the benefits they gain from this country.
Ireland has basically every company's European headquarters
What part of "shell corporations are not the same thing as actual rich people moving to a place" is difficult for you to understand? Shell corporations existing outside the US in no way is the same thing as the rich fleeing the country.
It'll be if you squeeze them hard enough
1950s. 90% marginal tax rate. Rich people did not flee because THERE IS NOWHERE ELSE TO GO.
Jesus Christ, you're really a special kind of dense.