Millionaires are leaving the US!

[Samson_Corwell]

@Safiel

The most useless parasite is the one collecting the taxes.

I’m happy to know, Safiel, that you only think the IRS is a useless parasite and not the rest of government.

[Samson_Corwell]

@Gaius

@Samson_Corwell

@Gaius

@Eagle-Keeper

The net inflow of high-net-worth individuals to the US

It is still a net inflow.

If you are from, I dunno say, China, and want to immigrate elsewhere
you can immigrate to the US by investing $1.8 million,
($0.9 million if you invest in in certain areas)
in Canada and Australia you can do it for about $350,000.
In Anguilla (leads to British citizenship) for $150,000

Canada is by far the most popular place for investment-based citizenship
they have low taxes on the rich, and, so many people are doing it that after a few years you can just sell your investment to the next guy in the conga line.

Why do you have a dunce cap as your avatar?

I picked the Eagles to win the Superbowl
(and was pretty brash about it too.)

I heard about the call that ■■■■■■ them all. I can only laugh.

Are you related to Jamie on the Mythbusters?

[Gaius]

@Samson_Corwell

@Gaius

@Samson_Corwell

@Gaius

@Eagle-Keeper

The net inflow of high-net-worth individuals to the US

It is still a net inflow.

If you are from, I dunno say, China, and want to immigrate elsewhere
you can immigrate to the US by investing $1.8 million,
($0.9 million if you invest in in certain areas)
in Canada and Australia you can do it for about $350,000.
In Anguilla (leads to British citizenship) for $150,000

Canada is by far the most popular place for investment-based citizenship
they have low taxes on the rich, and, so many people are doing it that after a few years you can just sell your investment to the next guy in the conga line.

Why do you have a dunce cap as your avatar?

I picked the Eagles to win the Superbowl
(and was pretty brash about it too.)

I heard about the call that ■■■■■■ them all. I can only laugh.

Are you related to Jamie on the Mythbusters?

No, why?

[Samson_Corwell]

@Gaius

@Samson_Corwell

@Gaius

@Samson_Corwell

@Gaius

@Eagle-Keeper

The net inflow of high-net-worth individuals to the US

It is still a net inflow.

If you are from, I dunno say, China, and want to immigrate elsewhere
you can immigrate to the US by investing $1.8 million,
($0.9 million if you invest in in certain areas)
in Canada and Australia you can do it for about $350,000.
In Anguilla (leads to British citizenship) for $150,000

Canada is by far the most popular place for investment-based citizenship
they have low taxes on the rich, and, so many people are doing it that after a few years you can just sell your investment to the next guy in the conga line.

Why do you have a dunce cap as your avatar?

I picked the Eagles to win the Superbowl
(and was pretty brash about it too.)

I heard about the call that ■■■■■■ them all. I can only laugh.

Are you related to Jamie on the Mythbusters?

No, why?

“BobHyneman”

I’m kidding though.

[Guilds]

@Eagle-Keeper

What country needs investors and entrepreneurs when you can flood your country with millions of the world’s impoverished, uneducated, non-English speaking, unemployed and unemployable labor?

Labor is prior to, and independent of, capital. Capital is only the fruit of labor, and could never have existed if labor had not first existed. Labor is the superior of capital, and deserves much the higher consideration.

[Guilds]

@Safiel

My taxes are actually substantially done. But when you write four checks, each in the five figures (and one smaller one) to the IRS each year, it kind of changes your perspective.

You must be doing pretty well. Good thing those taxes help provide the environment for many to do well.

Congrats!

[Gaius]

@Guilds

Labor is prior to, and independent of, capital. Capital is only the fruit of labor, and could never have existed if labor had not first existed. Labor is the superior of capital, and deserves much the higher consideration.

When the first fisherman caught two days worth of fish with his bare hands (labor), he started making his fishing net. (net making is also labor)
Thereafter, every day that he caught two days worth of fish with his bar hands (labor) he worked on his fishing net until it was done.

When his fishing net was done he was able to catch much more than one days fish each day, but the fact that he owned a fishing net did not mean he became an evil rotten scoundrel and did not mean that he got his net (capital) by unfair or injurious means.

[Safiel]

@Guilds

@Safiel

My taxes are actually substantially done. But when you write four checks, each in the five figures (and one smaller one) to the IRS each year, it kind of changes your perspective.

You must be doing pretty well. Good thing those taxes help provide the environment for many to do well.

Congrats!

My contributions to society via my employer contribute far more to the welfare of society as a whole than the taxes I pay.

[Safiel]

@Guilds

Labor is prior to, and independent of, capital. Capital is only the fruit of labor, and could never have existed if labor had not first existed. Labor is the superior of capital, and deserves much the higher consideration.

Labor, beyond the absolute most primitive level, is absolutely useless without capital.

Land, capital, labor and entrepreneurship are all equally vital and none can function efficiently without the other elements.

[Guilds]

@Gaius

When the first fisherman caught two days worth of fish with his bare hands (labor), he started making his fishing net. (net making is also labor)
Thereafter, every day that he caught two days worth of fish with his bar hands (labor) he worked on his fishing net until it was done.

When his fishing net was done he was able to catch much more than one days fish each day, but the fact that he owned a fishing net did not mean he became an evil rotten scoundrel and did not mean that he got his net (capital) by unfair or injurious means.

Capital and labor are both needed for a successful economic environment.

Both can thrive with the proper rules in place.
What we have today is an environment, that allows people to become grotesquely wealthy.
While millions live in poverty.

We can do better.

[Guilds]

@Safiel

My contributions to society via my employer contribute far more to the welfare of society as a whole than the taxes I pay.

Then you probably do not pay enough. ;–)

[Guilds]

@Safiel

Land, capital, labor and entrepreneurship are all equally vital and none can function efficiently without the other elements.

I concur.

[Gaius]

@Guilds

Capital and labor are both needed for a successful economic environment.

Both can thrive with the proper rules in place.
What we have today is an environment, that allows people to become grotesquely wealthy.
While millions live in poverty.

We can do better.

I completely reject your thesis.
I completely reject your underlying assumptions.
They are wrong.

That said, what is happening right now in the US seems to be that the the poor and middle class are getting stomped by inflation, and the people who own stuff are benefitting from it.

I normally reject the idea “the richer are getting richer and the poor are getting poorer,” but right now, for now, tht is what is happening.

[Eagle-Keeper]

@Gaius

normally reject the idea “the richer are getting richer and the poor are getting poorer,” but right now, for now, tht is what is happening.

Not with a declining stock market. The more the stock market declines the more money the rich lose.

[Nemesis]

I am sure they will weather the storm.

[Gaius]

@Eagle-Keeper

Not with a declining stock market. The more the stock market declines the more money the rich lose

I was gonna save these (three charts) for another thread, but umm

Right now, retail traders are buying,
and corporate insiders are selling.
It’s calm and orderly, but it is absolutely what is happening.

I trust I don’t need to explain what this means.

1. Retail investors are buying.
   

2. Corporate insiders are selling
   

   

3. Corporate insiders are selling
   

   

[Eagle-Keeper]

What percentage of the wealthy though does that represent? Does not the top 10% own 80% of the stock market? I’m not here trying to cry for the wealthy, but I don’t see how most of the wealthy are better off with a declining stock market and high inflation?

[Gaius]

I don’t know what percent.
The sellers are corporate insiders and might be 10% of the rich or 50% of the rich I don’t know.

What I know is that if the insiders are selling,
but retail investors are buying,
retail is probably going to be made worse off by their choice.

[zantax]

@Samson_Corwell

And they’re all moving to countries that are “socialist” by American standards.

More socialist, less woke.

[zantax]

@Gaius

@Guilds

Capital and labor are both needed for a successful economic environment.

Both can thrive with the proper rules in place.
What we have today is an environment, that allows people to become grotesquely wealthy.
While millions live in poverty.

We can do better.

I completely reject your thesis.
I completely reject your underlying assumptions.
They are wrong.

That said, what is happening right now in the US seems to be that the the poor and middle class are getting stomped by inflation, and the people who own stuff are benefitting from it.

I normally reject the idea “the richer are getting richer and the poor are getting poorer,” but right now, for now, tht is what is happening.

Democrats always cripple the poor while offering them crumbs. They thrive on discontent and misery.