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Why, build a wall or a fence or something like that.
Move with them.
where would they go? Monaco? Liechtenstein ain’t easy to get into...Switzerland?
Anyone have a clue what that means?
“The trouble with socialism is that eventually you run out of other people’s money” - Margaret Thatcher
What do we do when the rich decide to go into hiding in the USA?
Why leave? Many could coast for a very long time and not draw attention to themselves and drop off the targeted list. Convert wealth to land, gold. Stop worrying about beating the markets, capital gains, interest income, “unearned income” as Pelosi puts it. Get rid of the rental income.
Start new businesses designed not to make money, not to employ people, but to get to zero capital gains, zero income taxes.
A large percentage of Americans have been convinced that the wealthy are evil and greedy. Let Americans do without their creativity and investments.
Why that shouldn’t be a problem. Look how well New York, New Jersey, Kalifornia and Michigan are doing!!! Blacks, Mexicans and liberals make for a WINNING combination!!!!
Most of us middle class look at the world through our world view. The exit of those rich enough to cause us economic harm don’t have to worry about where to go. There are any number of countries who will sell them citizenship since they will not be an economic burden on their welfare state, hospitals or schools. They can spread their wealth (investments) around the world. Few countries try to tax worldwide income like the USA. Any number of countries will let people live there for extended periods as long as they don’t try to work.
America needs to wake up before capital starts to flee. It can happen in a big way. Recent immigrants who might still be middle class can start sending their capital to relatives in other countries. And there is the old fashioned way of converting assets to gold, silver and precious gems and burying them in the backyard.
Follow?
Build a wall . It is what totalitarians do .
0bama wants to create an economic Berlin Wall and prevent capital flow out of the country. All this will do is force individuals to hide their money in precious metals and cash (not a safety deposit box either). More and more, folks will stop buying stocks and even investing in their 401ks.
Money will get out. We know that those with political connections and the uber rich will find a legal mechanism. The wealthy small business owners and upper middle class will need to smuggle much of their cash and gold out when they finally decide to retire abroad. As the government becomes more oppressive, immoral and unreasonable, ordinary people will have little trouble rationalizing breaking the law. This has happened in Europe for years and other oppressive regimes throughout history.
There will be somewhere to put your money, The US is losing its global economic influence and will have trouble bullying countries that want to attract wealthy retirees.
They have already started. The top management of my company, a global company with about 13,000 people, moved to Switzerland last year.
The answer is “obvious” to any commie-pinko fellow traveler.
You have a 99% “exit” tax.
There is no where left free to run to.
I’m more worried about when the “rich” go Galt...
The truly rich are unlikely to move because they already know how to shelter their wealth. What we will do is what BO and the democrat party have planned all along. We in the middle class (upper, middle and lower) will be classified as rich and we will be taxed to our last breath. That has always been the plan; get rid of the Kulaks and is the reason why the truly big money people mostly support BO and the democrats.
FUBO
The upper middle class, and the rich have been moving their assets overseas since the election. I have done so as well.
There won’t be any left to leave.
shoot the progressives