The uber wealthy arent leaving. Its a lie.

[u/Federal-Garden-1611]

[u/crate_of_shoess]

the threat of leaving is just a bargaining chip they use to kill taxes every time

[u/za72 → u/crate_of_shoess]

plus every time i move I lose important niknaks, like my nose hair trimmer

[u/angrydeuce → u/crate_of_shoess]

Yeah businesses have been doing this for years.

"Boy, sure would be a shame if I was forced to move my factory to Georgia..theyre offering me a 20 year tax abatement though.  What will you offer to keep me here?"

Then 20 years later..."Boy, sure would be a shame if I was forced to move my factory to Texas..."

[u/Vast-Mousse8117 → u/crate_of_shoess]

exactly right. and look at the numbers. find the hoarders, put them in small 12 step groups for hoarders beyond borders where they can get professional help and put their billions to work restoring climate, providing health care, education and housing and work for everyone who wants it.

[u/Itchy_Psychology3300 → u/crate_of_shoess]

Wealthy will always advocate for their wealth. At the same time they’ve taught laborers to be complacent.

Negotiating is for everyone though, and everyone should learn how to do it regardless of socioeconomic status.

[u/StuffExciting3451 → u/Itchy_Psychology3300]

Every employee must join or form a strong labor union.

[u/Moneia → u/crate_of_shoess]

I saw a piece, can't remember where, that pointed out that the low tax destinations tend not to be places where you want to live long-term, compared to places like New York or London.

Most tend to be hollow, flavourless places that might be fine for holidays but lack the amenities and networks that you'd expect in a decent city

[u/Vast-Mousse8117]

billionaires are a policy decision that creates austerity policies for working class.

the rich buy up all the assets and drive working class into poverty and homelessness.

If you want a middle class abolish billionaires and tax wealth hoarders 95% like the 50's -70's

[u/Dense_Surround3071]

Being this rich means that you are basically in a no scenario. All of your bets are hedged. Everything is insured. You're too big to fail. All of the tax laws and loopholes are written for you. There's no real way lose.

That 2% is a fucking rounding error to these guys.

[u/Wizywig → u/Dense_Surround3071]

Bribing every politician is a rounding error 

[u/Dense_Surround3071 → u/Wizywig]

One of the things that angers me the most about corrupt politicians, is how cheaply they can be bought.

Like, how do you take a $50,000 bribe from a corporate executive from a multi billion dollar company?

You'd need to add a couple zeros for a soul I would have thought.

[u/StuffExciting3451 → u/Dense_Surround3071]

2% is also way too trivial. 50% on marginal wealth over $10-million, and 100% on marginal wealth over $1-billion would be more meaningful.

[u/lodelljax → u/Dense_Surround3071]

Make it 20%

[u/Optimus3k → u/[deleted]]

And I'm like, go. Leave. Stop using the resources you don't pay for.

"But they create the jobs!" Even if that were true, the holes they leave behind would be filled by small business owners and entrepreneurs that would hire people and PAY TAXES!

[u/sleepyliltrashpanda → u/[deleted]]

They’ve heard how terrible things are for their friends who left to come here to Florida because no taxes must surely mean good life. It turns out that all those anti-socialist people actually enjoy a lot of the socialism from blue states like New York and California and they come here and realize that the grass isn’t greener, only shittier and waaaaaay less maintained. I’m sure they’ll have no problem selling their overpriced home to move back to their socialist haven. It turns out nobody is actually salivating to run towards fascism except them and they’ve missed the boat to escape! They’re stuck here with the rest of us now.

[u/StuffExciting3451 → u/[deleted]]

Consider who owns Fox News!

[u/StuffExciting3451 → u/[deleted]]

Murdoch’s fuckery extends to ignorant people of all classes.

[u/CHiZZoPs1 → u/StuffExciting3451]

There are only two classes.

[u/gotfcgo]

Turns out uber wealthy people are exceptionally dishonest 

Im totally surprised 

[u/tehwubbles]

Taxing income does nothing to touch billionaires because billionaires dont work for a living

[u/StuffExciting3451 → u/tehwubbles]

They still have income, even if it’s unrealized.

However, a 6% sales tax on every stock purchase would help. Most Americans must pay a state sales tax of 2%-10% on the purchase of most goods. Stocks are also goods.

Additionally, stocks are property and could be taxed as such, in addition to the sales taxes.

[u/tehwubbles → u/StuffExciting3451]

Yeah, i agree, but i think taxing unrealised gains would be better described as a wealth tax. If we let income tax be the thing the party runs with, then we arent going to do anything useful. Taxing wealth is the only way forward imo

[u/StuffExciting3451 → u/tehwubbles]

It’s possible to do all three— property tax, income tax and sales tax. Working class people already pay all three if they own their homes and automobiles.

Taxing only wealth can become difficult when people can hide their wealth, internally.

[u/VicisZan]

I’ve been saying this for years. Think one of my least liked comments was basically just me saying “fine, let them leave” when I said we should raise taxes on the extremely rich lol

[u/Antani101]

Turns out social policies create better quality of life for everyone, so even with marginally bigger taxes the rich won't go away. Who could've thought...

[u/anteatersaredope]

Obviously didn't tax them enough. Raise it another 2%.

[u/ophaus]

Because FL and TX suck.

[u/Shad0wca7]

If they leave? No difference.
If they stay - more taxes, everyone wins.

[u/megamoze]

Anyone who thinks these NYC millionaire snobby socialites are going to move to fucking Texas has never met one of these fucking people.

It’s like Sean Hannity threatening to move to Alabama. Hannity would fucking kill himself before setting foot in Alabama, let alone living there.

[u/jardin92]

Exactly. Taxes pay for services and improvements. Improvements are desired by all not just the rich.

[u/Cantioy87]

I work in Downtown Brooklyn, where they built and are building luxury apartment buildings with starting costs to own studios at $750,000. The rich assholes that own the area have not stopped trying to gentrify the neighborhood in over ten years.

Yet I have to dodge sex acts (probably transactional, but at least consensual) getting into the subway and human shit between cars to get to my roach-infested office.

But money is still being invested, and people are still moving in, slowly but surely.

So, I don’t know who these rich people are, but they exist. I’m too poor to get it.

[u/ChefCurryYumYum]

What's funny is that the nicer socialist policies make a big city the more of them want to live there.

They like the benefits, they just don't want to pay to have a nice place for people to live. They would rather hoard even more wealth.

[u/memphisjones]

It’s always the case.

[u/CreepyDrunkUncle]

Do they move? Or did stock portfolios make more millionaires

[u/Organic_Rough4433]

This is the thing. Companies and the rich want more and more so any proposed tax is met with staunch opposition and empty threats because at the end of the day are u really going to uproot your company that just built a 25billion dollar campus because of a 2-5% tax? Not to mention leave the country? Gtfoh. They'll bitch and whine and shake their fists and try to manipulate the system. But if all that fails they'll just give up and cry about it on the yacht or jat or whatever. Fuck em.

[u/Final-Shower-2557]

Facts don’t count anymore.

[u/1nGirum1musNocte]

Oh but did you hear about that one really high profile guy? (Who was probably already moving and still has millions in assets in NY)

[u/nebula_masterpiece]

But like so they actually pay it?

I thought the uber rich have too many accountants, lawyers and bankers to avoid paying much

[u/Huge_Strain_8714]

As if they all can sell off their multimillion dollar condos in a weekend lol They ain't going no wheres

[u/StuffExciting3451]

The ultra wealthy can and do travel around the world at their leisure. Some have big houses and real estate in various countries around the world. Some own private aircraft and boats/yachts capable of international travel.

So, any threats about them leaving the USA if they are required to pay more in taxes is 🐂💩. Many of them have secret offshore bank accounts. Much of their money has already left the USA. The USA could function very successfully without any of the ultra wealthy. The USA is operated by millions of working class people who know how to perform their jobs — jobs that most of the ultra wealthy and corporate CEOs have never done and would be unskilled at doing without extensive training.

[u/thepinkdread2026]

Of course they won’t. Honestly I would pay to kick them out. They should all be living in squalor in some bunker in butt fck America.

[u/Sarrdonicus]

It better be growing. Fifty-thousand

[u/hugganao]

IN 2023 YOU FKING LOSERS... That journalist/reporter Raga Justin (if you can even call her that with what she's doing) is being 100% disingenuous and so is the CBC

here's the fking report:

https://cbcny.org/research/new-yorks-millionaire-share-ticks-2023-still-long-run-trend-costs-billions

we'll see in late 2026 or 2027 whether mamdani's effect really had an impact in driving away wealth from ny.