Posted on 05/19/2003 3:12:48 AM PDT by Action-America
The markets are just as good elsewhere, and the govenrments, with respect to taxes, are nearly ALL better than ours.
It seems odd that you would discourage the type of competition that has made our country great. Indeed I assert that allowing competition for capital will put us back in the number one spot. But instead of relying on what made us great (competition), the gov is trying to legislate control of other people's capital.
The money will just leave- there is no reason for it to stay. As I said, it is no longer the case that the US has the best place to sell; nor is it (by a long shot!) the best place to manufacture; nor it is even worth a damn tax -wise.
Why then would a company choose to manufacture and sell here??? Why would you fault them for trying to earn profits and protect their assets? I just don't understand why you would be unhappy that someone or some entity makes a choice to be more successful...
And the wealthy will do just that--and who do you think is going to pay that 37% of the total tax revenue that just vanished?
OK, get used to paying LOTS of taxes. Hell, just sign your family's estate over to Uncle and save yourself the rest of the pain--because very few of the top 1% of taxpayers will follow your example, so that 37% of the tax bill will be YOUR sole responsibility.
When 1% of the population pays 37% of the taxes, then the government should be a WEE BIT more respectful of the opinions, attitudes, and actions of that 1% than they are at present.
If it's your own cash, that you made and already paid the taxes on, how can ANYONE have a legitimate claim on it or prevent you from disposing of it as you please?
Without addressing the equities of absquatulating with the capital you've accumulated in the U.S., I'd like to point out some problems with the list you posted in the other thread -- but thanks for the link, btw.
1. The Bahamas government has been deeply imbued with traditions of both corruption and racialism by Lyndon Pyndling's crowd. They represented a popular reaction to what was called, 35 years ago, "the Bay Street gang", i.e. the merchants, hoteliers, tourism, and banking interests centered in Nassau's business district. Pyndling introduced laws that forbade Americans to immigrate or hold jobs in the Bahamas, and required other foreign nationals (usually Canadians brought in to pinch-hit by US-based companies) to train up Bahamian nationals to take their jobs. Meanwhile, law enforcement (LE) looked the other way while foreign-owned businesses struggled with high shrinkage rates imposed by pilfering Bahamian employees. There was a strong anti-Caucasian racialist element in Pyndling's legislation and administration, and he was personally corrupt. He almost single-handedly introduced a culture of corruption to what had been a decent British administration, and the whingeing idea that working a fiddle is preferable to just working.
2. Panama may seem like a good place for banking secrecy, until, provoked by the Chinese who are penetrating Panama as I write and tightening their grip on the canal, the U.S. military shows up to secure a vital U.S. strategic interest. The FBI and Treasury agents will be right behind them, and people who've renounced their U.S. citizenship will probably be treated like grubs while the FBI paws through Panamanian "secret" tax records.....if they aren't already having a deniable secret peek courtesy of the NSA, in order to make a list and check it twice, in order to see who's naughty and nice.
3. You put the U.K. and Canada on the list, countries with far leftier laws and higher tax rates than the U.S. Enough said.
4. Belize has a very low cost of living....but try to get medical care there.
5. Singapore has the slight impediment that their society and government are politically unfree and that if you aren't a member of the ruling Chinese families, you ain't on this bus.....oh, and the Chinese are racist, too. Are you sure you want to exchange your American citizenship for a place in Singaporean society as an ethnic minority whose good treatment is secured only by his liquidity?
6. The Antilles are pleasant enough; I spent some time in the Navy in the Bahamas and can testify that the Island culture is amenable and a positive benefit for Americans who need to decompress and get away from social competition games. But try to get medical care, and yes, there is still the racial element and the resentment. As in the case of Singapore, are you sure you want to base your security on your assets? In hard economic times, you could become inconveniently white at any time, like white Ugandans found out under Idi Amin Dada and white Rhodesians and Afrikaners are finding out now, as formerly prominent members of white society get killed for their purses and possessions, while insouciant new LE regimes look on with cold eyes.
7. And I can not believe you put Cuba on the list!!
Are you suggesting that there should be another basis for counting votes than "one at a time"? A classification of citizenship, perhaps? Aren't Lexus lanes and gated neighborhoods enough?
Not at all.
I'm merely pointing out that when you tax the living s**t out of a 1% of the populace, to the point that they're paying 37% of the tax burden...
Well, you have to realize that you are now beholden to them actually paying those taxes forever and ever, amen.
If they don't...
Let's put it this way: if 1% of the taxpayers leave, taking over a third of the tax base with them, who do you think is going to make up the losses?
A classification of citizenship, perhaps?
Why not? They're paying more than enough for it.
Well, I have a clue for you. If we continue bow down before the altar of political correctness and if we don't do something to stop the incontrolled invasion of our country by aliens, both legal and illegal, we are going to discover that WE are living in a third world country ourselves without having to go anywhere. The government needs to stripped of its ability to wield so much power and if the rich have to leave the country to reap the benefits of their labor, more power to them.
It seems that some of our "conservative" FRiends have bought into the belief that, by virtue of an individual being born an American, that the government is entitled not only to the fruit of their labors, but control over how they can use what they are allowed to keep as well.
I think that "legitimate" is the operative word here. There is NOTHING legitimate about the way the government confiscates money, property and freedom. Heaven forbid that anyone should abscond with their own money while they still have any left.
OMG, please, what a bunch of BS. First you rail about the need to protect our borders and then you want to lionize the rich. Just who do you think it is importing all the 3rd world workers? It’s not Joe six-pack, it’s the same scabby charlatans who put their wealth before country.
If these economic patriots of virtue want to pack their cash and leave good riddance, I hope they get their pesos devaluated.
Funny, but I bet there was a pilgrim standing on an English dock that was saying the same thing as the MayFlower pulled away.
People in England and Europe left their countries because of this crap. Now people in America are starting to do the same.
First, I don't consider a 28% marginal tax rate particularly onerous, most particularly since I've paid a 50% rate myself, on top of Social Security, back before the lords of money decided they had to keep it all for themselves and throw the boomers in my industry out the door.
Part of trickling down, you see, is ...... trickling down. Refusal to trickle is a deal-breaker on trickle-down, dig? Getting shirty about actually paying people, like Jack Welch did, and firing them and taking them back as second-tier employees of white-slavery contract firms is a deal-breaker, capiche? Someone on this thread is posting as a devotee of Ayn Rand, and for all I know, you might be a Rand admirer, too -- but Rand always insisted that employers be scrupulous about paying people, and not go looking for the wherewithal to repair the deficiencies of their managerial vision and the deficits in their quarterly results by rummaging in their employees' pay packets, and looking for ways to stiff people -- out of hours (mandatory "casual overtime" -- like General Electric does right this minute, as we speak), out of pay increases (sorry, bad quarterly numbers, poor performance -- nothing for you [but I'll take a performance bonus anyway]), out of their jobs, and out of their careers. Capiche?
By contrast, Rand believed in paying in full, on time, fairly, and in gold.
Let's put it this way: if 1% of the taxpayers leave, taking over a third of the tax base with them, who do you think is going to make up the losses?
Let's put it this way: don't tell me how bad you are, show me. Go ahead and do it. But if you do, sugar plum, we ain't fellow citizens any more, and we ain't friends any more. Get it?
[You, quoting me] A classification of citizenship, perhaps?
[You, replying] Why not? They're paying more than enough for it.
No more of that "equal justice under law" stuff, eh? Your fat bonuses and making everyone else's life a living hell as you squeeze more "productivity" out of them and keep them in the office 55 hours a week on straight salary ought to buy you a little extra consideration, eh? Think you're someone special? Well, I'm sorry our ideas of citizenship have disappointed your expectations.
Try one of those bow-down countries where people really go through life thinking they're other people's dogs, and that they have to eat dung for corner-office Napoleons like you. You'll no doubt find the atmosphere, the spirit of deferential cooperation, the fawning and sucking up, invigorating. Try doing it their way. I'm sure you'll enjoy being addressed as effendi, or bwana, or baas, or maybe pukka sahib. Go for it, walk the Saddam walk: walk wide, swing from side to side in that Saddam Hussein fatboy swagger we've all grown to admire. Go for the cheese.
Go ahead, make my day.
Oh, I think I get it. You somehow think that you were owed lifetime employment.
Grow the f*** up.
No more of that "equal justice under law" stuff, eh?
Equal justice would be a flat tax.
We don't have that.
Let's put it this way: don't tell me how bad you are, show me. Go ahead and do it. But if you do, sugar plum, we ain't fellow citizens any more, and we ain't friends any more. Get it?
Oh, I've got it.
And I have news for you: they're doing it. 250,000 a year, mostly in the top 1% income bracket--congratulations, you're getting your wish.
Hope you enjoy the extra chunk of the tax bill.
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