The massive problem with that is that they’ll just move to a country that taxes them less.
The country wins by getting some of their money, the billionaire wins by keeping most of their money, everyone else from their original country gets fucked
You see, that’s being said all the time as a counter-argument. But it has been proven to be untrue. First of all, there are exit taxes in most countries, the USA is pretty gung-ho on that for example.
Also, the rich are also just people, that have families and friends. They won’t move just because they pay a bit more in taxes. People are lazy and like the environment they’re used to. Bonus if they have kids that don’t want to leave their friends behind.
Lastly, where to move to? Many of the EU countries are the countries with the best living conditions world wide. Granted some of the criteria like accessibility and affordability don’t apply to the rich, but freedom of speech, general freedom, state of infrastructure, crime etc. mostly apply to them as well. And there are very few countries in the world that can match. Those that do are also expensive and or far away or have other issues.
That’s fine, let them extract the wealth of other countries until they learn their lesson. They don’t add value to society, that does not equate to a loss. It would be ridding ourselves of economic robbers.
That’s the same logic as saying “if we kick the snake oil grifter out of our town then he’ll just go to the next one!” Good, maybe they’ll kill him after they figure out he’s just a thief since we didn’t have the gumption.
The massive problem with that is that they’ll just move to a country that taxes them less.
The country wins by getting some of their money, the billionaire wins by keeping most of their money, everyone else from their original country gets fucked
You see, that’s being said all the time as a counter-argument. But it has been proven to be untrue. First of all, there are exit taxes in most countries, the USA is pretty gung-ho on that for example. Also, the rich are also just people, that have families and friends. They won’t move just because they pay a bit more in taxes. People are lazy and like the environment they’re used to. Bonus if they have kids that don’t want to leave their friends behind. Lastly, where to move to? Many of the EU countries are the countries with the best living conditions world wide. Granted some of the criteria like accessibility and affordability don’t apply to the rich, but freedom of speech, general freedom, state of infrastructure, crime etc. mostly apply to them as well. And there are very few countries in the world that can match. Those that do are also expensive and or far away or have other issues.
Fair points.
That is no problem at all! Get those motherfuckers out of the country if they are just going to suck it dry.
That’s fine, let them extract the wealth of other countries until they learn their lesson. They don’t add value to society, that does not equate to a loss. It would be ridding ourselves of economic robbers.
That’s the same logic as saying “if we kick the snake oil grifter out of our town then he’ll just go to the next one!” Good, maybe they’ll kill him after they figure out he’s just a thief since we didn’t have the gumption.
Nah that’s not the same. Take lessons from history. Get the money back while you can.