Intuitively and morally, yup, tax the rich more. But, the flip side is that the wealthier you are, the more incentive you have and the easier it is to move. Many countries have discovered this.
It’s a serious problem but an incredibly difficult to solve.
Personally, I think bringing back more inheritance taxes would be helpful and less prone to capital flight but honestly, it’s a topic for smarter folks than myself.
They can keep running away to other countries, but at some point the other countries will catch up.
What on Earth are you basing this on beyond wishful thinking? If someone rich leaves Canada for the States, your position is that America will suddenly undo decades of low taxation for funsies?
And it doesn’t stop other countries with higher taxes from doing business.
Are you talking about corporate tax rates? Or is this just a petulant “fine, we don’t want you and your billions of taxable dollars anyway!?!”
Yeah because it’s going so well for companies in the US right now. They’re paying extra in tarifs, their stock price is plummeting with the stock market, they’re losing millions in sales because the whole world is boycotting American businesses, and unless they suck up to Trump and the MAGAts they won’t get any help.
Also, I was talking about wealthy people initially. Not corporations. But yeah, we should try to collectively tax corporations more globally. But that’s another story.
Just so I understand, is your belief is that trump will do so badly that America will, despite decades to the contrary, raise tax rates on the wealthy to a point where they’d be comparable to us raising our highest tax rates?
When you write silly things, people are going to be condescending.
If your response to capital flight is “well, one day other countries will raise their taxes” and then when asked go into a semi random rant about trump, well, those aren’t responses particularly worthy of consideration etc.
It is fine to just say “huh, I hadn’t thought about that.” Or “I’m not sure, I haven’t read much about this.”
Edit: e.g., in the article I politely linked earlier, you might’ve noticed that the French waited 15 years without that return of capital:
That led to thousands of rich French families to move to countries such as Belgium to avoid paying the tax, including most famously ‘Green Card’ actor Gerard Depardieu and members of the Mulliez family, owners of the Auchan supermarket chain.
Prime Minister Edouard Philippe has estimated some 10,000 people with 35 billion euros worth of assets left in the past 15 years.
Intuitively and morally, yup, tax the rich more. But, the flip side is that the wealthier you are, the more incentive you have and the easier it is to move. Many countries have discovered this.
It’s a serious problem but an incredibly difficult to solve.
Personally, I think bringing back more inheritance taxes would be helpful and less prone to capital flight but honestly, it’s a topic for smarter folks than myself.
They can keep running away to other countries, but at some point the other countries will catch up.
And it doesn’t stop other countries with higher taxes from doing business.
What on Earth are you basing this on beyond wishful thinking? If someone rich leaves Canada for the States, your position is that America will suddenly undo decades of low taxation for funsies?
Are you talking about corporate tax rates? Or is this just a petulant “fine, we don’t want you and your billions of taxable dollars anyway!?!”
Yeah because it’s going so well for companies in the US right now. They’re paying extra in tarifs, their stock price is plummeting with the stock market, they’re losing millions in sales because the whole world is boycotting American businesses, and unless they suck up to Trump and the MAGAts they won’t get any help.
Also, I was talking about wealthy people initially. Not corporations. But yeah, we should try to collectively tax corporations more globally. But that’s another story.
Just so I understand, is your belief is that trump will do so badly that America will, despite decades to the contrary, raise tax rates on the wealthy to a point where they’d be comparable to us raising our highest tax rates?
Or are you just being a silly Billy?
No. You misinterpret what I’m saying and I don’t like your tone.
I have no idea what you’re trying to say.
Then don’t reply with condescending comments and keep scrolling.
When you write silly things, people are going to be condescending.
If your response to capital flight is “well, one day other countries will raise their taxes” and then when asked go into a semi random rant about trump, well, those aren’t responses particularly worthy of consideration etc.
It is fine to just say “huh, I hadn’t thought about that.” Or “I’m not sure, I haven’t read much about this.”
Edit: e.g., in the article I politely linked earlier, you might’ve noticed that the French waited 15 years without that return of capital: