Tuesday, May 27, 2014

The Impoverishment of the Greedy

When are these greedy politicians going to realize that people and their money ARE BOTH MOBILE and that they can leave at any moment? I mean, just take a look at that most majestically mismanaged of all entities; the state of California. According to Travis Brown's book, "How Money Walks", that state alone has lost a total of $46.3 BILLION in annual AGI in just a 20 year period (from 1992 to 2011) - and even as we speak they're still losing approximately $4,800 A MINUTE in lost AGI (this, of course, while other states such as Texas, North Carolina, and Florida have added tens of billions in new AGI)........................................................................................And then of course there's France. Ever since the new government there has been toying with that idea of a top tax rate of 75%, hundreds, if not thousands, of rich, well-to-do families have gotten the hell out of there and moved to London, Geneva, Brussels, Quebec, and a whole host of other destinations (http://www.telegraph.co.uk/finance/10390571/france-hollande-taxes-socialist-farrage.html). And it isn't just the wealthy who are pissed off, either. According economist, Jacques Regniez, 80-90% of recent French University graduates who possess a marketable degree now say that they want to emigrate as well....and if you listen closely you can hear all of those champagne corks popping from Montreal all the way to Singapore (with some folks even having moved to Vietnam).  


Rational Nation USA said...

I love to contemplate all the possibilities of WHERE wealth will someday be concentrated.

I think it will suprise many (it won't be the USA for sure) and where it is not concentrated (the rest of the globe) people will basically be poor serfs groveling for the bits their masters toss to them.

dmarks said...

Stealing from people encourages theft-avoiding behavior. Including removing one's person and wealth from the area in which it can be targeted for such theft.