Paths for freedom and progress
How intentions of "fair" distribution firebacks
ECONOMY - 03/03/2019

Socialists on the streets, rich people escape, move, die and their property change owner. A new capitalist is bon form a left seed. What happens when a country gets rid of a lot of capitalists?
Bill Gates says that he should pay more in taxes. Others considers a moral duty to pay as little tax as possible, to avoid to be accomplice to the government’s destruction, corruption and waste.


Even as Bill would love to see the rich taxed more, he recognizes that you have to be careful. He understands the rich are the most adept at avoiding taxes. Even when taxes in the US were 70%, the actual collection was only around 40% thanks to deferrals and other manoeuvres.  In France right now the taxes are so high the Frenchmen actually wish they had billionaires. As French taxes has skyrocketed from earlier moderate levels, including a progressive wealth tax of up to 1.5% on assets above €1.3 million euros, they have chased the rich out of the Nation, in 2016 alone, 12,000 millionaires left France. For example Gerard Depardieu, well known actor left France some years ago for lower income tax offered by Russia.


It’s really easy for rich people to move. So when the government is coming after the richest people… the most mobile people in the history of earth. Billionaires like Bezos, Musk, and Branson are all competing to get to Mars… And people think they can’t skip town to save a billion in taxes? This isn’t conjecture or theory. Billions and billions of dollars have exited New York City. Tens of thousands of millionaires have left France. New Jersey lost hundreds of millions in tax revenue last year when ONE GUY, hedge fund billionaire David Tepper, moved to Florida.


But this populist, eat-the-rich behavior is a global phenomenon. It forced the richest man in the UK, industrialist Jim Ratcliffe, to flee to Monaco, an international tax haven. And when he gets there, he and two other executives at his chemical company plan to take a £10 billion distribution. That could save them up to £4 billion in taxes they would owe if the distributions were taken in the UK. Another Brit, Sir James Dyson, recently moved his vacuum cleaner business to Singapore. Singapore is busy attracting wealth, instead of chasing it away.


While Gates correctly identifies that the rich can – and will – leave, his analysis of the situation is still lacking. Gates thinks the answer is raising more revenue… if they could just design a tax that effectively collects from the rich. He favors a progressive tax that would tax the top 20% “much higher” than everybody else.


But you’re in luck… because on the flipside, it’s not just billionaires who can simply move to avoid higher taxes. It doesn’t take that much income before you start benefiting from several countries, some Western, but most not. Fresh up your geography, pick up interesting places from the map, study about them and when decided to try a more healthy Non-Big Brother Governmental place, visit, make friends. Just remember that a tourist never gets the point of a country. And, at least 3 months in any country is a minimum to understand something about how it really is. It takes years to understand a country. Read first.

Copyright 2018 - Thomas Nilsson - All rights reserved - [email protected]
Views: 451647 - Atualizado: 23-04-2024