I don’t think the option of “moving offshore” is an easy fix anymore. In 2007, I belive congress passed an “ex-patriat” law stating they can take up to 50%.
Expect to see things as “cash only”, massive tax-shelters, trust funds, quasi-barter and various means of stealthy movements of money.
If the rich (aka: achievers) are treated like the enemy, they’ll start acting like one. It’s a lose-lose.
Still, even with a 50% hit, there are those who would find that a bargain if they could find a place which treats them like a valued asset (businessmen, investors, high-tech skilled workers, etc.,). Many countries in “New” Europe have low corporate and personal tax rates (many have flat taxes). Ireland is another good option.
Ugh.
We may be just a small home business but the extra income is absolutely vital to us.
Lord, I hope 0 loses big-time.
Moving assets offshore can be done easily, legally, and in almost any size one could wish. It’s all in how one goes about it.
I see sales of gun safes going thru the roof.