If we were smart we would be recruiting the world's rich to invest in the USA with lower tax rates. Look at the capital already fleeing France. With a sensible tax policy that capital could be flowing into the USA.
No, really?! I’m shocked. WHO could have seen that coming? Imagine it—intelligent, successful people voting with their feet.
I am a resident of Maryland and I have rich friends who have moved out of the state. Some have moved to Virginia, others to states further south. I’m in no danger of becoming rich myself, but I’m planning to move too, and I’ll be taking my property taxes, sales taxes, and purchasing power with me. Other friends who are small businesspeople or physicians are getting out of Maryland. They are being driven mad by Maryland’s intense, intrusive regulation and taxation that makes owning a business in Maryland a nightmare. We just can’t afford it here. And as legal residents, we get nothing for our taxes. If I can just find a job in Virginia, I’m out of here.
The idiots in Annapolis and Baltimore invite every ne’er-do-well illegal immigrant to Maryland, subsidize laziness, over-control the law-abiding, cooperative citizens, discourage investment, drive up the cost of doing business, frighten away the successful, entrepreneurial people—and then they wonder why Virginia is doing so well economically and Maryland is tanking.
Am I bitter? (furious insane laughter)
I get a sense that quite a few of these types never learn their lesson and then vote for the same Democrat class warfare crap once they head south. Infuriates me. Unless you change your ways, stay the heck out of Tennessee, please!
Democrat logic at work:
Tax smoking to get less of it.
Tax the rich to get... uh... less of them?
Democrats fervently believe wealthy people without exception are innately masochistic.
Democrats fervently believe wealthy people without exception are innately masochistic.
Democrats fervently believe wealthy people without exception are innately masochistic.
Capital flows from conditions of low productivity of capital to higher productivity of capital. If libtards hate higher savings and investment and capital accumulation which leads to economic progress and higher standard of living for the average wage earner, then raise those taxes on the rich as high as possible.
No, that's the lesson they learned from James Michael Curley.
As a 4-term mayor of Boston, he jacked up the taxes on the well-to-do to chase out the people most likely to pose opposition to him. (Truman granted the corrupt former US Rep and mayor a pardon...)
The first black mayor, another 4 termer, iirc, of Detroit also chased out the whites and others that would oppose him, and about two generations later, Detroit is a shrinking "metropolis".
And they are chasing the rich out of the country!
The Leftist Project wants UN taxing authority to end this voting-with-your-feet nonsense.
There are some interesting numbers below....at some point its gonna start looking like a “bank run” ...which is essentially what it is...
The Feds are desperately worried some of the 50% of the population they use as cash cows to help them fund their delusions are catching on...and leaving....
“Last year, almost 1,800 people followed Superman’s lead, renouncing their U.S. citizenship or handing in their Green Cards. That’s a record number since the Internal Revenue Service began publishing a list of those who renounced in 1998. It’s also almost eight times more than the number of citizens who renounced in 2008, and more than the total for 2007, 2008 and 2009 combined.”
http://www.reuters.com/article/2012/04/16/us-usa-citizen-renounce-idUSBRE83F0UF20120416
Even more alarming....in 1997 the list was ONLY 90 people renouncing...so that year, 2011, it was TWENTY times greater that in 1997...
http://www.gpo.gov/fdsys/pkg/FR-1997-01-30/html/97-2283.htm
Maryland “Freak State” PING!