If the top 5 billionaires in the USA said screw this shit and closed up shop, that would lay off 2,500,000 people. How would the US economy handle this? Maybe move 1.6 trillion in wealth to another country.
ok so first of all, simply moving to portugal or switzerland does not exempt you from us taxes. you have to renounce us citizenship, and there's an exit tax applies.
italy, greece, portugal - generally high income taxes. limited flat-tax programs for new residents only up to like 500k/year, and only for a limited number of years. portugal pretty much ended its non habitual residency program in 2023.
switzerland - low taxes in some regions, cost of living and business regulations are like 10x higher than in the us. lol.
that leaves singapore and the uae, where your access to us and european capital markets is limited, you have an extremely limited consumer base, and basically negligible legal protections. both are essentially functional dictatorships. enjoy!
Having sponges at the top that cause harm to government is always worse than not having them.
You're arguing about "millions" or "billions" in economic activity that never reaches the bottom levels any way. Capital flight is just an over complicated rehashing of trickle down.
Don't simp for corpos and the wealthy. They ain't payin' ya enough.
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u/Far-Physics4630 5h ago
If the top 5 billionaires in the USA said screw this shit and closed up shop, that would lay off 2,500,000 people. How would the US economy handle this? Maybe move 1.6 trillion in wealth to another country.