Yeah well the standard line they always trot out whenever anybody starts talking about taxing billionaires is the threat of the billionaires leaving. The thing is, if they were actually prepared to do that they wouldn’t spend all the money fighting it, they would just wait until it happened, and then leave.
Billionaires don’t really care about tax, it’s like the least expensive thing they spend money on in a year. They’ll quite happily spend 10,000 times as much on a yacht, it’s like asking an average earner if they would consider moving to get out of paying a 40 cent annual surcharge.
Yep, Billionaires are where they are. In general, they do not move when tax laws change (of all billionaires moving per year, only a single digit percentage can be brought in connection with wealth taxes)
Yeah well the standard line they always trot out whenever anybody starts talking about taxing billionaires is the threat of the billionaires leaving. The thing is, if they were actually prepared to do that they wouldn’t spend all the money fighting it, they would just wait until it happened, and then leave.
Billionaires don’t really care about tax, it’s like the least expensive thing they spend money on in a year. They’ll quite happily spend 10,000 times as much on a yacht, it’s like asking an average earner if they would consider moving to get out of paying a 40 cent annual surcharge.
Yep, Billionaires are where they are. In general, they do not move when tax laws change (of all billionaires moving per year, only a single digit percentage can be brought in connection with wealth taxes)
I think they do. Money going to tax is under public control and cannot be used to buy influence.
It’s just about power. Their influence comes from their wealth and paying taxes would mean giving power away.