What Happens When You Tax Billionaires at 90%?

MagentaLine

Super Antichrist
1,374
505
Like those 'resort' islands off of Queensland? You know, the ones vacant and not being redeveloped despite the lease conditions?

Easy fix - take the islands back.

Billionaires can only go somewhere and hide their money if the countries allow them to do it.

FKT
What happens when the billionaires don't have enough for all your woke projects?
 

Olsonist

Disgusting Liberal Elitist
31,617
5,867
New Oak City
If taxes get too high for billionaires, they simply leave. Buy a nice island somewhere warm and beautiful, pay fuck-all tax. It's good to be the king.....
Sure. Saverin left for Singapore, an island, and even renounced his citizenship. So what?

At that point of his career he was not personally very productive. He’s a ‘VC’ now. So he was lucky and made some money on Facebook. Big whoop. But he’s much less important now to the US of Fucking A than the thousands upon thousands of immigrant engineers are who want the opportunities which he took advantage of.

If you see John Galt on the road, kill him.
 
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Steam Flyer

Sophisticated Yet Humble
50,767
13,483
Eastern NC
Dramatically decrease the size and scope of the Federal Government!
...

Problem... nobody voted for that.

Republicans keep shouting angrily about it, but they don't actually do it.

What happened to the "size and scope" of the Federal gov't under Trump and a fully Republican-controlled Congress? What happened to the Federal debt?

So shut the fuck up, or move. Or keep on shouting hateful bullshit, whatever. You're irrelevant.
 

Steam Flyer

Sophisticated Yet Humble
50,767
13,483
Eastern NC
Sure. Saverin left for Singapore, an island, and even renounced his citizenship. So what?

At that point of his career he was not personally very productive. He’s a ‘VC’ now. So he was lucky and made some money on Facebook. Big whoop. But he’s much less important now to the US of Fucking A than the thousands upon thousands of immigrant engineers are who want the opportunities which he took advantage of.

If you see John Galt on the road, kill him.

I would encourage everybody who admires the fictional character, John Galt, to GO.

GO John Galt! GO! Get the fuck out! We don't want you here, either!

Oh wait, that was fiction.
 

Steam Flyer

Sophisticated Yet Humble
50,767
13,483
Eastern NC
Simplistic reasoning gives simple answers.

If billionaires leave, they won’t be protected by America’s legal system and state department, they won’t enjoy the cultural opportunities and sports events of our nation, and they will be dealing with the government of whatever country they choose, all of which have problems.

It might be a rational, fiscally sound decision, or it might turn out to be a disaster, or more probably, a wash.

The state of Kansas chopped it's income tax peak rates and went broke. They literally could not afford to keep the public schools open, and their own Supreme Court would not let them close the schools.

Oddly enough, not one single bazillionaire... or even millionaire... moved to Kansas. Yet New York City with it's famously high taxes, has lots and lots of 'em.

Believe the deeds, not the words.
 

pusslicker

Super Anarchist
2,959
1,405
Paris

Olsonist

Disgusting Liberal Elitist
31,617
5,867
New Oak City
Could not, you mean. Past tense. She's been dead for a while now.

I thought "Atlas Shrugged" was awesome when I was 11. Re-read it in my 20s and realized what unrealistic, over-bombastic bullshit it was.
Can't. Literary present tense. I think that got started because it would just be too annoying and exhausting though correctfully correct correct to always switch back and forth between author time and work of fiction time. So by academic fiat, it was agreed they both happened now.

 

El Borracho

Bar Keepers Friend
7,701
3,613
Pacific Rim
Can't. Literary present tense. I think that got started because it would just be too annoying and exhausting though correctfully correct correct to always switch back and forth between author time and work of fiction time. So by academic fiat, it was agreed they both happened now.


One wonders if anyone in congress bases their political decisions on their viewing of Spaceballs when they were 11? Arguably more rational than trying to live by that Ayn Rand nonsense.
 

phillysailor

Super Anarchist
10,208
4,977
I would think MAGAts would want to get back to the tax rates that made America great, funding large infrastructure projects, medical research and missions to space.

But they just wanna talk about bathrooms
 

Gouvernail

Lottsa people don’t know I’m famous
39,621
6,853
Austin Texas
Not really not that s the National Debt smaller than the Republican tax cuts dating back to Reagan but every penny of those tax cuts has come in the form of reducing investment in America.

When taxes were 90%, people protected their money from taxation by investing in their businesses or fishing to charitable causes.

Now, with the insignificant tax rates, there is little reason to invest and create new products and jobs.
 



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