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[+] -26 points 5 months ago (34 children)

If you do a wealth tax, they would absolutely leave.

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  • [–] 20 points 5 months ago

    And then what? If they want to take their wealth with them they'd need to sell up, so the job creation would remain, the assets would remain, possibly the currency would be slightly weaker, and so importa would be slightly more expensive, which would encourage the local economy... What is the awful outcomes you're imagining from the ultra rich leaving?

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  • [–] 15 points 5 months ago (17 children)
  • [+] -6 points 5 months ago (16 children)
  • [–] 8 points 5 months ago (15 children)

    They are a menace to society and there existence is an embarrassment.

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  • [–] -4 points 5 months ago (14 children)

    Does kicking them out of the country cause them to cease to exist?

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  • [–] 11 points 5 months ago (3 children)

    If everyone does it, yeah. Kinda.

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  • [–] 7 points 5 months ago (2 children)

    Agreed. Capitalism cannot be brought down without global unity.

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  • [–] 6 points 5 months ago (9 children)

    I don't want them here, ideally they would pay a crap ton of taxes or rot in a cell, and stop buying out the legal systems.

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  • [–] 0 points 5 months ago (8 children)

    Agreed but unfortunately we don't live in an ideal world

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  • [–] 5 points 5 months ago (7 children)

    Yes, so leaving or paying taxes is a win. They can wreck and topple a country that I'm not stuck surviving in.

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  • [–] 0 points 5 months ago (6 children)

    How is kicking them out a win?

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  • [–] 4 points 5 months ago (5 children)
  • [–] 1 point 5 months ago* (4 children)

    Well, think about what "wealth" is. Their wealth isn't a big pile of money in the living room that they swim in, it's in an international web of banks that all do business together, and all profit off of this wealth themselves. This is a very simple explanation and it's much more complex than that, I'd recommend the Panama and Pandora Papers as a primer.

    You're not going to get to seize anything but a small fraction in assets that they can't quickly liquidate. The moment you do seize those assets, every one else will move their wealth out of your country, also, for fear of losing their own bank accounts. The more you seize assets, the more assets will flee your country, even small investors will abandon you.

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  • [–] 1 point 5 months ago (3 children)

    Ok, that really doesn’t answer the question, but so what? Let them all flee, who cares? Theres absolutely zero real loss at this point. Not like any of that hoarded wealth is currently accessible to the country/community they live in anyway. That’s sort of the point. It’s a black hole either way, that money isn't coming out of their pockets if they don't want it to, so why allow them to keep getting more at the expense of 99% of the population, many of whom can’t even properly support themselves because all the profits end up in a few pockets, and workers get peanuts.

    They don't contribute anything if they can help it, they just take everything they can at the expense of literally everyone else, so why would it be bad if they left? If all the takers left, because they couldn't just take everything from everyone else anymore, how is that in any way bad for the country they flee? Or the people left behind who actually do contribute their fair share? It wouldn’t even take very long for things to readjust, because they provide next to nothing we can’t live without, and spreading the wealth out means more in taxes.

    If the selfish rich assholes who don't want to give anything back abandon in droves, it opens the field for smaller business and local investment, or investment from people who aren't so selfish as to see paying a fair portion in taxes as an insufferable barrier. Thats a good thing you are trying to present as a bad thing. Nobody actually needs obscenely rich people to invest in stuff, thats just a ridiculous lie they want us to believe. Good ideas and good businesses can find other avenues, like organic growth or co-op models of mutual investment for mutual profit. Frankly we need far far fewer things owned or controlled by the same few obscenely rich people who are ruining everything everywhere for only their own benefit.

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  • [–] 2 points 5 months ago* (last edited 5 months ago) (2 children)

    So what? So you lose all of your investors, from billionaires to small investors of pensions, and everyone in between.

    That's a massive part of any economy... and you won't get any more money from any of them, all will invest elsewhere where their money won't be seized.

    This would be very, very bad for your economy for many years (at least).

    That's so what. Don't get me wrong, this would be hilarious and you should do it as soon as possible.

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  • [–] 1 point 5 months ago (1 child)

    Why would small investors pull out? They wouldn't be impacted by this stuff in any meaningful way.

    Thats just an absurd slippery slope argument. It just doesn't follow reality at all, but let’s assume it did, and that you are right.

    So you lose out on selfish people who want to be the takers, but aren't yet.. you lose out on them investing in crap that only or largely benefits them, because anyone who isn't just out for themselves would not be deterred by this sort of thing. So what? Where’s the loss here? You miss out on making more billionaires. Oh no.

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  • [+] 8 points 5 months ago* (3 children)
  • [–] -3 points 5 months ago (2 children)

    I want a source that says that billionaires would remain in countries even when taxes rise.

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  • [+] 10 points 5 months ago (2 children)
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  • [–] 8 points 5 months ago (5 children)
  • [–] -5 points 5 months ago (4 children)

    You can't tax them at all if they leave. Forget wealth tax, you won't be getting any taxes.

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  • [–] 3 points 5 months ago (3 children)

    They can't leave when their businesses, properties, assets, and income are derived from your country. Much of it isn't easily movable, if at all. Most of a billionaire's wealth isn't in cold hard capital cash, it's in a mixture of assets and yearly income from said assets.

    They can choose to leave, and live wherever they'd like to live. But their place of residence, if legislated properly, would have no bearing on wealth taxes instituted at the asset or income level. If we chose to tax them regardless of being domicile or not: it is a legislative choice.

    It would have no bearing on whether we can still legally and feasibly tax the fuck out of them.

    What you're saying is disinformation, friend. It serves the wealth class well when it's spread around. But if you stop and think about it as an idea for a second it quickly falls apart.

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  • [–] 0 points 5 months ago (2 children)

    Nope. Most of a billionaire's wealth is in the form of stocks. This is true of any billionaire.

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  • [–] 5 points 5 months ago (3 children)

    Which is good, as they would then not be extracting wealth from where they left and money can once again circulate how it should.

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  • [–] 1 point 5 months ago (2 children)

    Lol billionaires extract wealth from every single nation.

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