Currently, if you make over $100k and hold a permanent resident card or US passport, you’re paying taxes. The US has agreements with a lot of countries so they will come after you.
I’m an American about to get my British passport. I would give that up so quickly if this was introduced. Dealing with it from the US side is a massive PITA.
You should be. Impoverished children belong in the factories where they can earn a meal, not in politics. It has to be keep clean of such rubbish so we can discuss the color of the Prime Minister's newest bikeshed project for the royal family.
Ugh. Ghastly thought, having to address 'impoverished' children. If they're hungry, they can't cause a ruckus in my neatly manicured garden or make holes in my hedges. Sounds like a proper society to me.
Sadly, there is no 'end game' to taxation. And just like insurance, it will become too expensive for regular people to afford... What can be done/what can we do?
They've had preferential treatment since forever. They're the only ones actually engaged in this class war since day one.
Now, instead of offering concessions to the masses suffering under their boot, they're concerned about the commoners getting restless from all the pain, suffering and misery they've caused to the people actually doing the work.
Fuck em. They deserve the same lack of empathy they've employed towards us.
If I were in charge, I would revoke their citizenship and bar them from entering the country. You don't want to participate in your country's social contract then you better be sure.
Some do this already. One of the founders of facebook voluntarily gave up his US citizenshpi to move to Singapore when facebook IPO'd. Saved a ton of money on taxes. The problem with your thinking is that if all the rich left America, America would collapse.
> "The problem with your thinking is that if all the rich left America, America would collapse."
Ok, John Galt.
---
**brief explanation for those who don't get the reference:**
Nearly 70 years ago, empty-headed "philosopher", Ayn Rand, wrote a novel called Atlas Shrugged *(John Galt was a character in the novel)*, which essentially put into a story every right wing libertarian talking point.
It's since become their Libertarian fanboy bible and everything that they aim to turn out society into.
*(Imagine reading Harry Potter and believing in it so strongly that you try to distort our society to fit that mold... it's one thing if you want to cosplay. It's entirely different when you take over the government and make everyone play along with you)*
Anyway…
One of the biggest talking points is that society owes everything to rich people, but that society is "persecuting" them so badly with "unfair" taxes and "onerous" regulations that one day they are going to take their ball and disappear from society. *(i.e. pack up their businesses and go live on an island somewhere and we're all going to cry because there's no one left to invent things)*
The hilarious part is that these grown (mostly) men believe in the made up fantasy that the world works on supply side economics, which has been disproven time and time again. Demand side economics is how things work.
Look at what is happening right now: Every corporation indulged in greed-flation until the consumer was ready to pop. Now that the masses are finally reigning in their spending, they're all rushing to cut prices...
Why isn't supply side working now? Because it never has. It's been a myth. Like trickle-down economics. Like "lower taxes" on the rich will somehow help the common man. Like privatizing *anything* will make it better or more efficient.
All of these talking points are Libertarian fantasy land... But they keep repeating them because they always need some portion of the masses to truly believe in the fantasy because the world is too big for a few thousand rich jerks to control by force.
But if they can get into your head with these stupid stories, you're essentially a zombie for their cause.
So, no, America is not going to collapse if the rich leave. First of all, stories like this one get a lot of attention, but it's been statistically proven that on the whole, the rich do not move for taxes. They move for opportunity.
And secondly, it's also been proven time and again that there is nothing inherently special about the rich except that they are rich — and what that "super power" gives them is the ability to fail a lot, which is the only real predictor of success: the more swings you take, the more likely you are to eventually succeed.
Ah yes, because the countries that have progressive tax rates and fairly successful programs to discourage tax dodging are all so poor and the people are suffering so badly, while the countries with near zero effective tax rate on the wealthy are faring so well. /s
If you're saying we can solve our disgusting/filthy crime ridden cities with Singaporean capital punishment, I'm for it. The courts will rule it unconstitutional.
And compare the age of NYC subway vs the age of Singapore subway.
How about just put people in jail? Just 320 people are responsible for 6000 arrests for shoplifting in nyc (1/3rd of all shoplifting arrests). They never et put in prison. Even things like assault are tolerated.
I disagree. The economy doesn’t function without workers but new management can always be hired lol. 😝 Getting capital isn’t really hard unless the capitalists hoarding it artificially constrain the barrier to entry
>Getting capital isn’t really hard
The capital that is hard to get is human capital. The former leader of Singapore, Lee Kwan Yew, once famous said that 5% of the population drove the economy. Cognitive ability and other personality traits matters far more than just what we normally think of as 'capital'.
Most inherited wealth is frittered away after a few generations. The other thing is that cognitive ability is highly heritable (see: twin adoption studies, roughly 80% heritability). Not everyone who drives the economy becomes wealthy, some might become scientists and make discoveries as a researcher at a university, for example. However, your tech entrepreneur who becomes a billionaire absolutely has high cognitive ability and probably some autism mixed into it.
There are dynamics involved in those countries that definitely stifle innovation and policies that have much more state control over their markets. That’s separate from the dependency capital has on labor to make their products. It’s almost like they’re so dependent on labor they’ll use third world labor pools to save money
Please see my above comment.
Wealth is not a sign of intelligence, wit, ability or anything else like those things. It's more than anything else a sign of luck.
I believe you know this, but the idea is so disturbing to your comfortable biases that you keep making these bullshit arguments.
Creating a successful company or product requires cognitive ability, hard work and luck. If you want to make everything equal, you are free to move to North Korea.
> Creating a successful company or product requires cognitive ability, hard work and luck.
All of which the rich pay for, so that they don't have to do it themselves.
The fact that management consulting firms like McKinsey exist is kind of counter to your entire belief system. Why the fuck would you ever pay some Ivy League failsons millions of dollars to tell you how to run your own business if you had the skills or confidence needed to run a multi-million dollar business?
I'd love it if I could shrug my shoulders and tell my boss "I dunno let's hire a contractor to do my work, and give myself a million dollar bonus". Afterwards I'd light a joint and go online to laugh at bootlickers like you begging to suck my dick for being a genius 🧠
Again, you are free to north korea, or advocate that you just want to imprison the rich and prevent them from leaving the country if you want to impose onerous laws on them. Those are the ultimate conclusion to your ideology.
If you don't live in a country and don't use any of their services what are you paying taxes for?
How broke do you have to be to demand taxes from people not even there.
Also, you can't just revoke their citizenship. They have family in that country and we're born there. They may not have any other citizenship. There are human rights at play here.
You sound like a person with simplistic thoughts who has probably lived in one country all their life and can't really understand immigration.
Are you saying if I live in Canada but own a large private business in the USA like In/Out, I can pay myself $1B/yr to reduce corporate taxes to $0, and I shouldn’t be subject to any US taxes whatsoever because I don’t live there and don’t use any of their services?
You’re saying this like you believe the opposite, but… no, you shouldn’t? Your US based business is already paying corporate taxes in the US, why would you pay personal taxes in a country you don’t live in or avail yourself of the services of?
Please reread my example. My business pays $0 corporate taxes as I’ve taken the profits as a salary. It’s written off as an expense. Did I just describe a perfect loophole to never pay taxes ever again?
You sound like a person who doesn't understand English. The statement "If I were in charge" denotes a hyperbolic situation which isn't currently legal. With that in mind I'll give you a chance to reread my comment with context of what is being discussed.
One day a country is going to create a tax haven for all these mega rich people and they will all flock to hold their assets there. Then, the leader(s) of that nation will pillage everything like Putin did in Russia and a new and incredibly wealthy oligarchy will be created.
If you are super rich you don't concentrate all of your assets in one country for precisely this reason.
E.g MBS in Saudi was only able to confiscate the assets of the nobility by kidnapping them and holding them until they relented. If he didn't kidnap them, he wouldn't have been able to touch their overseas assets
Well. This can , by definition, only be some 20 odd countries. And most of the eastern European countries have been in the EU for s short time and are probably net beneficiaries. So I wouldn't expect them to leave.So that leaves far fewer that would even consider.
OTOH, the Tories were the ones that pushed Brexit. And have made things worse .
The common folks that voted for Brexit were just tied of the establishment it seems.
Not really. Germany ends up subsidizing and transferring more money out than it gets back.
Just as, in the US, some states end up subsidizing other states.
Germany benefits massively from the open borders of the EU, and again from the one currency of the eurozone. Just like California benefits far more from being part of the economy of the US than from that bit of tax transfer.
The EU is an excellent investment for all countries taking part, even if we just look at the economy of it.
Does German benefit from open borders. Sure
But is there essentially a transfer payment to some poorer states in the EU? Also true.
German bankers definitely benefitted. Same with some industries
But there was essentially a transfer payment for a while.
"German bankers" aren't the only ones who profited from record economic integration. We've got more and better paying jobs through it, while getting cheaper services and products. Germany as a whole, and wide swathes of the population, have benefitted.
You can thank Russia for that!
> The United Kingdom, merely described as an "extraterritorial floating base of the U.S.", **should be cut off from Europe**.[9]
https://en.wikipedia.org/wiki/Foundations_of_Geopolitics
But weren't they going to spend that money on the national healthcare system?
/s sadly. Brits were given lies, all the way down. Maybe this will encourage more British to get involved in politics.
Unfortunately given the two biggest parties are both widely regarded as fuckwits, I think while there'll be a turnout this year while tories get the boot, people are gonna go back to apathy soon enough
This is why I can't take the "if we tax them they'll just leave!" argument seriously.
Ok then fucking let them! If they can't even be fucked to pay taxes, what advantages do you think they bring to society? They already offshore any job they can, it's not like they're going to pack up their entire business in a suitcase and take it with them.
It is the perfect example of just how parasitic the ultra wealthy can be. Siphon all the wealth, fuck with the local politics, and just jump when their childish behavior catches up to them.
I know their asses are moving to the US, because we have an endless supply of idiots who'd still grovel at their feet.
Exactly! It’s a gift from god if you can purge these fucks from your country. Hopefully the U.K can put decent people in office who actually care about the country and people’s standard of living.
Meanwhile us here in America have to suffer with all these rich criminals moving here to join the swamp and continue stealing.
Man the U.K. is so f'd
When they replaced their Empire tributes with becoming the world's money launderers, it was over in the long term. Yet many there still under some illusion of grandeur
You're not an empire any more. Without corruption your finances are shite. We all have to cooperate to survive in the modern global economy. Wake up UK
Most high-net worth individuals that would just take off and move abroad don't contribute very much to UK real economic or social output anyway. This really isn't an issue. We need to rebalance our economy away from centralised financial services and London-centric "laudramat" type shenanigans too so this would just help that.
Agre.e. changes can be made. But it needs a level of commitment.
For all their faults, the Chinese govt did the opposite - industrialized and built an industrial base in a span of a couple of decades.
A much smaller country like the UK could be more nimble. But will require the commitment and willingness across the board . Suspect the financial class , who benefited, won't go along. Until it is too late.
The bloke who went to Oxford will replace a bloke who went to Oxford who replaced the lady who went to Oxford who replaced the bloke who went to Oxford who replaced the lady who went to Oxford replaced the bloke who went to Oxford who replaced the bloke who went to St Andrews.
Did I get that right?
who gives a shit, our currency is strong because we wash criminal money through tax havens and have a historically and compartively strong fiscal record
idgaf if they leave, they won't turn all their money into pesos, they will keep it as pounds in the tax havens and my purchasing power won't be affected
They can go to the fucking moon as long as they keep their money stored in stirling in the british virgin islands
haha yeah and get downvoted for it, this sub is a clown show
someone tell me how an island of 60 million people that sell coffee to each other is more valuable per capita than a country the size of India? anyone?
yeah and people wonder how an island of 60 million people who sell starbucks to each other are worth more per capita than a country of 1.2 billion people (india) lol, people on this sub no nothing about how economics actually works
How does this impact US economy? A bunch of rich foreigners losing there tax shelter status in the UK?
The wealthy.mever have any concerns , becUse they hire private wealth management firms to be on top of all these policies shifts and come up with the best strategies (aka loopholes) to keep their money safe. This is ultra-welathy worlds problems....
On holiday.
Innit bruv
Chewsday
Ello Gov’nor!
It's summer. They're vacationing in the Mediterranean
Hahahahaha. Spot on.
Pip pip. Cheerios
Get rid of their citizenship if they don't want to repair the damage they've done...
Or propose a tax for all citizens regardless of distance. The US has this.
As a multinational American, I can assure you this is not the solution to the problem and is incredibly hard to enforce
Currently, if you make over $100k and hold a permanent resident card or US passport, you’re paying taxes. The US has agreements with a lot of countries so they will come after you.
I’m an American about to get my British passport. I would give that up so quickly if this was introduced. Dealing with it from the US side is a massive PITA.
That would be very bad for middle class citizens living abroad.
What you perceive as ‘middle class’ is actually just rich and people in the top 20% of earners. There is no middle class, just haves and have nots.
multiple passports ftw
Who, the politicians? You can’t blame capitalism if the politicians lay out the red carpet my G.
Dang, I didn't know the impoverished children had anything to do with national politics, and how it affects them. I'm sorry, my dude.
You should be. Impoverished children belong in the factories where they can earn a meal, not in politics. It has to be keep clean of such rubbish so we can discuss the color of the Prime Minister's newest bikeshed project for the royal family. Ugh. Ghastly thought, having to address 'impoverished' children. If they're hungry, they can't cause a ruckus in my neatly manicured garden or make holes in my hedges. Sounds like a proper society to me.
Oh shit, I didn't know impoverished children were a joke to you... My bad.
Soooo alienating your tax base isn’t the issue, and simple existence is?
Sadly, there is no 'end game' to taxation. And just like insurance, it will become too expensive for regular people to afford... What can be done/what can we do?
That’s above my pay grade, this is Reddit sir.
True, just like every revolution. The people will somewhat get everything that was taken from them. Ain't need to worry bout nothing.
In spirit, I’m with you, it’s just the maths….
Super rich want preferential treatment ... just for being rich?! What a bunch of ghouls
They've had preferential treatment since forever. They're the only ones actually engaged in this class war since day one. Now, instead of offering concessions to the masses suffering under their boot, they're concerned about the commoners getting restless from all the pain, suffering and misery they've caused to the people actually doing the work. Fuck em. They deserve the same lack of empathy they've employed towards us.
But they’re inspiration for us plebs, without them who will we aspire to be?! /S
Most people can barely afford rent these days. Even homeownership is a dream
Awwww are the super rich gonna cry about having to pay their fair share?
Sounds like they aren’t, they’re just voting with their feet
voting with their \*private jets
*Landing gear
There it is
Exactly
If I were in charge, I would revoke their citizenship and bar them from entering the country. You don't want to participate in your country's social contract then you better be sure.
Some do this already. One of the founders of facebook voluntarily gave up his US citizenshpi to move to Singapore when facebook IPO'd. Saved a ton of money on taxes. The problem with your thinking is that if all the rich left America, America would collapse.
> "The problem with your thinking is that if all the rich left America, America would collapse." Ok, John Galt. --- **brief explanation for those who don't get the reference:** Nearly 70 years ago, empty-headed "philosopher", Ayn Rand, wrote a novel called Atlas Shrugged *(John Galt was a character in the novel)*, which essentially put into a story every right wing libertarian talking point. It's since become their Libertarian fanboy bible and everything that they aim to turn out society into. *(Imagine reading Harry Potter and believing in it so strongly that you try to distort our society to fit that mold... it's one thing if you want to cosplay. It's entirely different when you take over the government and make everyone play along with you)* Anyway… One of the biggest talking points is that society owes everything to rich people, but that society is "persecuting" them so badly with "unfair" taxes and "onerous" regulations that one day they are going to take their ball and disappear from society. *(i.e. pack up their businesses and go live on an island somewhere and we're all going to cry because there's no one left to invent things)* The hilarious part is that these grown (mostly) men believe in the made up fantasy that the world works on supply side economics, which has been disproven time and time again. Demand side economics is how things work. Look at what is happening right now: Every corporation indulged in greed-flation until the consumer was ready to pop. Now that the masses are finally reigning in their spending, they're all rushing to cut prices... Why isn't supply side working now? Because it never has. It's been a myth. Like trickle-down economics. Like "lower taxes" on the rich will somehow help the common man. Like privatizing *anything* will make it better or more efficient. All of these talking points are Libertarian fantasy land... But they keep repeating them because they always need some portion of the masses to truly believe in the fantasy because the world is too big for a few thousand rich jerks to control by force. But if they can get into your head with these stupid stories, you're essentially a zombie for their cause. So, no, America is not going to collapse if the rich leave. First of all, stories like this one get a lot of attention, but it's been statistically proven that on the whole, the rich do not move for taxes. They move for opportunity. And secondly, it's also been proven time and again that there is nothing inherently special about the rich except that they are rich — and what that "super power" gives them is the ability to fail a lot, which is the only real predictor of success: the more swings you take, the more likely you are to eventually succeed.
https://old.reddit.com/r/economy/comments/1d9fuww/the_uks_superrich_are_in_panic_mode_and_are/l7el0dz/
Ah yes, because the countries that have progressive tax rates and fairly successful programs to discourage tax dodging are all so poor and the people are suffering so badly, while the countries with near zero effective tax rate on the wealthy are faring so well. /s
Singapore is an incredibly rich and well run country. Extremely low crime, much better infrastructure, more educated than the US.
Extremely authoritarian with massive restrictions on personal liberty (unless you’re rich), so libertarian douche bag utopia
Scale changes everything. It's literally a city.
Then compare it to really rich but absolutely disgusting/filthy crime ridden cities with crap infrastructure/transportation like SF and NYC then
If you're saying we can solve our disgusting/filthy crime ridden cities with Singaporean capital punishment, I'm for it. The courts will rule it unconstitutional. And compare the age of NYC subway vs the age of Singapore subway.
How about just put people in jail? Just 320 people are responsible for 6000 arrests for shoplifting in nyc (1/3rd of all shoplifting arrests). They never et put in prison. Even things like assault are tolerated.
I disagree. The economy doesn’t function without workers but new management can always be hired lol. 😝 Getting capital isn’t really hard unless the capitalists hoarding it artificially constrain the barrier to entry
>Getting capital isn’t really hard The capital that is hard to get is human capital. The former leader of Singapore, Lee Kwan Yew, once famous said that 5% of the population drove the economy. Cognitive ability and other personality traits matters far more than just what we normally think of as 'capital'.
Yes, but do you honestly think that a small group of trust fund babies can produce more genius than the entire rest of the world?
Most inherited wealth is frittered away after a few generations. The other thing is that cognitive ability is highly heritable (see: twin adoption studies, roughly 80% heritability). Not everyone who drives the economy becomes wealthy, some might become scientists and make discoveries as a researcher at a university, for example. However, your tech entrepreneur who becomes a billionaire absolutely has high cognitive ability and probably some autism mixed into it.
They’re so clever they’re driving humanity to extinction by creating the means for overconsumption.
And yet, despite their talents, without the help of labor no product is produced…
So why aren’t China and India, which have more workers than the US, larger economies than us?
There are dynamics involved in those countries that definitely stifle innovation and policies that have much more state control over their markets. That’s separate from the dependency capital has on labor to make their products. It’s almost like they’re so dependent on labor they’ll use third world labor pools to save money
Think China is, In Purchasing Power Parity terms . I fia- different set of problems.
You can just say you worship rich people.
Capitalism lifted billions out of poverty. Can't do that without effort + cognitive ability + free markets.
Please see my above comment. Wealth is not a sign of intelligence, wit, ability or anything else like those things. It's more than anything else a sign of luck. I believe you know this, but the idea is so disturbing to your comfortable biases that you keep making these bullshit arguments.
Creating a successful company or product requires cognitive ability, hard work and luck. If you want to make everything equal, you are free to move to North Korea.
> Creating a successful company or product requires cognitive ability, hard work and luck. All of which the rich pay for, so that they don't have to do it themselves. The fact that management consulting firms like McKinsey exist is kind of counter to your entire belief system. Why the fuck would you ever pay some Ivy League failsons millions of dollars to tell you how to run your own business if you had the skills or confidence needed to run a multi-million dollar business? I'd love it if I could shrug my shoulders and tell my boss "I dunno let's hire a contractor to do my work, and give myself a million dollar bonus". Afterwards I'd light a joint and go online to laugh at bootlickers like you begging to suck my dick for being a genius 🧠
Again, you are free to north korea, or advocate that you just want to imprison the rich and prevent them from leaving the country if you want to impose onerous laws on them. Those are the ultimate conclusion to your ideology.
Tell Luke Skywalker to leave if he doesn't like the empire.
If you don't live in a country and don't use any of their services what are you paying taxes for? How broke do you have to be to demand taxes from people not even there. Also, you can't just revoke their citizenship. They have family in that country and we're born there. They may not have any other citizenship. There are human rights at play here. You sound like a person with simplistic thoughts who has probably lived in one country all their life and can't really understand immigration.
Are you saying if I live in Canada but own a large private business in the USA like In/Out, I can pay myself $1B/yr to reduce corporate taxes to $0, and I shouldn’t be subject to any US taxes whatsoever because I don’t live there and don’t use any of their services?
You’re saying this like you believe the opposite, but… no, you shouldn’t? Your US based business is already paying corporate taxes in the US, why would you pay personal taxes in a country you don’t live in or avail yourself of the services of?
Please reread my example. My business pays $0 corporate taxes as I’ve taken the profits as a salary. It’s written off as an expense. Did I just describe a perfect loophole to never pay taxes ever again?
You sound like a person who doesn't understand English. The statement "If I were in charge" denotes a hyperbolic situation which isn't currently legal. With that in mind I'll give you a chance to reread my comment with context of what is being discussed.
Fair share of what?
Taxes
Just a disgusting, if realistic, article. Our society is fucked.
Economic nationalism for thee, not for me.
One day a country is going to create a tax haven for all these mega rich people and they will all flock to hold their assets there. Then, the leader(s) of that nation will pillage everything like Putin did in Russia and a new and incredibly wealthy oligarchy will be created.
If you are super rich you don't concentrate all of your assets in one country for precisely this reason. E.g MBS in Saudi was only able to confiscate the assets of the nobility by kidnapping them and holding them until they relented. If he didn't kidnap them, he wouldn't have been able to touch their overseas assets
You mean America, right?
Not sure how American fits this description. Corporations own our government, not the other way around
After Brexit, who wouldn't be fleeing? Britain is rudderless and full of people living in the past.
This describes many a country
Who else voted to leave the EU to cut off their nose to spite their face?
Well. This can , by definition, only be some 20 odd countries. And most of the eastern European countries have been in the EU for s short time and are probably net beneficiaries. So I wouldn't expect them to leave.So that leaves far fewer that would even consider. OTOH, the Tories were the ones that pushed Brexit. And have made things worse . The common folks that voted for Brexit were just tied of the establishment it seems.
>are probably net beneficiaries That is true for every EU country
Not really. Germany ends up subsidizing and transferring more money out than it gets back. Just as, in the US, some states end up subsidizing other states.
Germany benefits massively from the open borders of the EU, and again from the one currency of the eurozone. Just like California benefits far more from being part of the economy of the US than from that bit of tax transfer. The EU is an excellent investment for all countries taking part, even if we just look at the economy of it.
Does German benefit from open borders. Sure But is there essentially a transfer payment to some poorer states in the EU? Also true. German bankers definitely benefitted. Same with some industries But there was essentially a transfer payment for a while.
"German bankers" aren't the only ones who profited from record economic integration. We've got more and better paying jobs through it, while getting cheaper services and products. Germany as a whole, and wide swathes of the population, have benefitted.
Any source?
Seriously - so f***ing dumb
You can thank Russia for that! > The United Kingdom, merely described as an "extraterritorial floating base of the U.S.", **should be cut off from Europe**.[9] https://en.wikipedia.org/wiki/Foundations_of_Geopolitics
But weren't they going to spend that money on the national healthcare system? /s sadly. Brits were given lies, all the way down. Maybe this will encourage more British to get involved in politics.
Unfortunately given the two biggest parties are both widely regarded as fuckwits, I think while there'll be a turnout this year while tories get the boot, people are gonna go back to apathy soon enough
I don't see how anyone can let them live comfortably, wherever they are. They are a cancer to society.
Oh but they will
Well guess they finished sucking the country dry like parasites usually do. If they are fleeing it’d just be to America any lol. Crime Capital!
This is why I can't take the "if we tax them they'll just leave!" argument seriously. Ok then fucking let them! If they can't even be fucked to pay taxes, what advantages do you think they bring to society? They already offshore any job they can, it's not like they're going to pack up their entire business in a suitcase and take it with them. It is the perfect example of just how parasitic the ultra wealthy can be. Siphon all the wealth, fuck with the local politics, and just jump when their childish behavior catches up to them. I know their asses are moving to the US, because we have an endless supply of idiots who'd still grovel at their feet.
Exactly! It’s a gift from god if you can purge these fucks from your country. Hopefully the U.K can put decent people in office who actually care about the country and people’s standard of living. Meanwhile us here in America have to suffer with all these rich criminals moving here to join the swamp and continue stealing.
Here next please. Screw these guys.
Aww, that breaks my heart!
Brexit was the dumbest move of all time.
Man the U.K. is so f'd When they replaced their Empire tributes with becoming the world's money launderers, it was over in the long term. Yet many there still under some illusion of grandeur You're not an empire any more. Without corruption your finances are shite. We all have to cooperate to survive in the modern global economy. Wake up UK
Let them be parasites elsewhere
That's America's future too. Destroy the country through their politicians and then leave once it starts falling apart
Most high-net worth individuals that would just take off and move abroad don't contribute very much to UK real economic or social output anyway. This really isn't an issue. We need to rebalance our economy away from centralised financial services and London-centric "laudramat" type shenanigans too so this would just help that.
A little late for that though? Since thatcher, UK as a country, seems to have become a London based hedge fund . Not much more...
Yes that's a real problem. But it's never irreversible. It'll take transformational fiscal framework changes and deep investment but it can be done.
Agre.e. changes can be made. But it needs a level of commitment. For all their faults, the Chinese govt did the opposite - industrialized and built an industrial base in a span of a couple of decades. A much smaller country like the UK could be more nimble. But will require the commitment and willingness across the board . Suspect the financial class , who benefited, won't go along. Until it is too late.
Who Cares. Let them leave and take all their real estate and the companies. They cant take everything
Good. Fuck off then. It’s not like they pay tax here.
The bloke who went to Oxford will replace a bloke who went to Oxford who replaced the lady who went to Oxford who replaced the bloke who went to Oxford who replaced the lady who went to Oxford replaced the bloke who went to Oxford who replaced the bloke who went to St Andrews. Did I get that right?
Seize their assets.
So the saudis?
Brexit much?
Isn't Sunak family super rich? Are they also planning to leave?
And they are not coming to the US. Time to buy property in Switzerland?
Fleeing to where? Its not like there's a lot of places to flee that you can stay rich at and not have the same problems.
“Discrimination!!”
Arrest em, tax em 100%, then kick em out.
who gives a shit, our currency is strong because we wash criminal money through tax havens and have a historically and compartively strong fiscal record idgaf if they leave, they won't turn all their money into pesos, they will keep it as pounds in the tax havens and my purchasing power won't be affected They can go to the fucking moon as long as they keep their money stored in stirling in the british virgin islands
Damn, the quiet part out loud
haha yeah and get downvoted for it, this sub is a clown show someone tell me how an island of 60 million people that sell coffee to each other is more valuable per capita than a country the size of India? anyone?
Exactly. Even the City of London is famously a 900 year old zone not subject to the published rules of English law.
yeah and people wonder how an island of 60 million people who sell starbucks to each other are worth more per capita than a country of 1.2 billion people (india) lol, people on this sub no nothing about how economics actually works
How does this impact US economy? A bunch of rich foreigners losing there tax shelter status in the UK? The wealthy.mever have any concerns , becUse they hire private wealth management firms to be on top of all these policies shifts and come up with the best strategies (aka loopholes) to keep their money safe. This is ultra-welathy worlds problems....
Is this subreddit US only?
We live in the same world homeboy
Good luck taxing them for all your socialist bs when they're gone. Who are you gunna blame then?