Mr. Bigbucks will also lay off employees before going home to Mrs. Bigbucks and telling her to give up her caddy or move to a smaller house...
If we make it tough enough on Mr. Bigbucks he will simply take his bucks to another country...
I try to tell younger people all the time that you can only tax the rich as much as they are willing to pay. The rich have options that others don’t have... I cannot imagine why politicians can’t figure this out.
The other issue is there simply aren’t enough rich people to bail us out, that is why when something is done to the “rich” it always ends up including the middle class as well.
RE: If we make it tough enough on Mr. Bigbucks he will simply take his bucks to another country...
Ahhh... but here’s the rub, it isn’t as easy to open an account in another country any longer. Offshore banking is not what it once was since the advent of the Obama administration.
There used to be a time when Mr BugBucks could open a secret Swiss account in Switzerland. No longer.
This administration has hired divisions of IRS agents to hunt the money of the Mr BigBucks of America worldwide and by threatening the two bug Swiss banks who do business here -— UBS and Credit Swisse, they were able to cause Switzerland to CAPITULATE.
Last Year, the Swiss Parliament agreed to let banks disclose the names of American account holders in Switzerland.
Switzerland is no longer a safe money deposit haven.
If the USA can by virtue of her size and influence, bully a strong neutral country to change its banking policy, how much more the other offshore safe havens like the Cayman Islands or Bahamas?
Mr. BugBucks will from now on have a hard time taking his bucks away from the United States. He is being tracked by the IRS.