Comments by "" (@thehumanity0) on "Elizabeth Warren Propose A 'Wealth Tax' On The Top .1%" video.
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@thekidnamedcudi8850 First of all, they would have to upend their entire lives to move to another country. Secondly, they get massive public scorn for doing something like that when it's clearly a ploy to not pay taxes. Just ask the guy who started Facebook, Eduardo Saverin, who got massive shit for moving to Argentina to avoid taxes to live with his family. Everybody hates the fuck out of that guy now.
In addition, there are ways to close tax loopholes so they can not get away with moving money overseas, our system is just so fucked right now that these tax regulations do not exist or have existing loopholes that the gov't refuses to close. Liz Warren literally just proposed a new bill that prevents billionaires from moving their money overseas to avoid taxes. If you think taxing billionaires would lead to the fall of the US economy, you're delusional. The fact that we're NOT taxing billionaires appropriately has already led to the death of the middle class and massive MASSIVE wealth inequality. Even IF billionaires somehow moved their wealth overseas, the US would be far better without them taking advantage of workers and any vacuum their business leaves in it's wake would get filled by new innovative industry that we desperately need, not just billionaires and millionaires hoarding their wealth and doing stock buy-backs. We need REAL economic growth in this country, something that's been lacking since the 1980s and has led to a constant boom-bust cycle where only the wealthy ever come out on top.
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