Quote:
Originally Posted by CaptainCrunch
I don't know of specifics on a personal level, however on a business level you see businesses invest outside of their home countries because of tax and labour rates. How many countries have a 75% punative tax rate?
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Quote:
Originally Posted by CaptainCrunch
Personally I would move in a second, once it became clear that I was being punished for being successful.
And not just personally.
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Well, the business thing is not supportive of your contention. Those people stay in the country, but just move the money around. If someone told me I could get 50% interest on my USD by moving my bank account to Hong Kong, I'd do that.
But to be clear, you know of no examples except yourself.
In the late edit I brought up the US because the tax rate in the 70s was very high, and came down in the 80s. Did we ever hear stories of a number of businessmen flying back into the US now that Reagan reduced the taxes?
All in all, it sounds to me like we can aptly describe the "rich will move" proposition as Ivory-grade BS. Not 100% pure BS, but 99 and 44/100th BS.