zlacker

>>fortra+(OP)
A lot of magical thinking in policy these days. Global rich people went to London BECAUSE of the tax treatment.

There was no magical property of London that attracts people DESPITE higher taxes.

Very difficult to have any policy discussion when a second order effect is involved.

>>graeme+C1
Why does it have to be assumed that having the ultra wealthy living in your country and not paying taxes is a net positive? It seems close minded to just ignore the possibility that those people are causing more harm than good.

>>foobar+c2
I’d presume they are spending a lot of money locally and probably employing a staff locally and driving other economic activity locally but I guess I could be wrong.

>>SoftTa+s3
If only there was some historical data, maybe even 30 years of it, that could tell us whether or not putting money in the hands of the ultra wealthy had a sort of “trickle down” effect that benefited everyone else too!

>>only-o+X3
> putting money in the hands of the ultra wealthy

that’s a very sinister way to describe the reward for their extraordinary efforts. who’s putting money in their hands? where did this ‘who’ get the money from?

>>yawboa+e6
what are these 'extraordinary efforts'?

>>slater+w6
if the wealth isn’t inherited then it obviously requires extraordinary effort to amass. i’m not a billionaire and it’s not from a lack of trying to be. the fact that my efforts over the years—which are non-trivial btw—haven’t made me one is a clear signal.

starting and running a successful business is extraordinary effort. my life is better thanks to founders of all the companies whose good and services i depend on. i’m full of gratitude for their extraordinary efforts because they’ve made life worth living.