> If you tax the rich too much they'll leave!!! >

while it is a progressive system, they don't leave because the effective federal tax rate is about 20%. try bumping it up to 50% and see what happens.

>>127051637
DELETE THIS RIGHTNOW.

the rich are job creators, and businessmen, and they run the world, and without them we'd all still be in caves, and i love gargling trumps taint, and rich piss is the finest of all piss, and

>>127051637
if you dont let me suckle on those udders you are a racist

>>127051796
Probably not much considering all of their connections and established capital which can't be moved easily are all here.

>>127052717
You'd be surprised. They're leaving France at 10k millionaires a year.

http://www.cnbc.com/2017/02/21/here-are-the-places-where-millionaires-are-moving.html

>>127053079
> Australia number 1 spot
> Australia also has extremely progressive taxes
Wow, it's almost like capital flight is dependent on other things and is mostly bullshit.

>>127051637

Historically, there's an equilibrium of progressive taxes and beneficial economic climates.

Too low, we see poverty skyrocket, economic destabilization, and large gaps of income inequality. Not to mention the overall climate is poor and production and consumption is slowed.

Tax too high, we see people create / look for loopholes, more corruption, stagnant markets, less unemployment, and an overall backlash that could threaten to sink rates too low and interest rates to high.

The best examples of this is The late 1920s stock market crash of America. Progressive tax high... backlash... dips so low for too long it created a shit storm, and then bam great depression. Right now, I believe we're way too low.

A top bracket of 50% is not unreasonable for top top earners. Mostly because once you're in the billions, that pure free market thinking is blinding people to the fact you're siphoning money away out of the system for no real reason.

It's also the reason we have tax right offs for charitable donations, and large scale programs. (Like job centers or job fairs) Also, increasing wage of workers, lowers your tax burden indirectly.

Also, we're talking about wages earned.
So if Billionare X makes $1.6 B in wages and another $1.3 B in stocks, market shares, hedge funds. His total after taxes (assuming a 50% income tax and 20% capital gains tax) would be about $1,840,000,000 dollars.

I think that person will be just fine. Especially if it's a healthy economy. I doubt they'll pull their company and life out of the country. And the reason is... at that high of a tax burden, the benefits would be high too. Mainly the populous would spend more, a company would make more profits, and crime and poverty being lower will increase life and living standards.

I would rather be wealthy in a wealthy country, than super wealthy in a shithole. An opinion not always carried by people with heads shoved up their assholes.

>>127051637
tfw no titcow breeding sow to birth my sons

File: effective tax rates.gif (33KB, 595x367px) Image search: [Google]

33KB, 595x367px

>>127053311
Wow, it's almost like you're trying to be retarded.

>>127053987
> Trying to imply the US tax system isn't actually very progressive with a simple graphic
https://www.washingtonpost.com/news/wonk/wp/2013/04/05/americas-taxes-are-the-most-progressive-in-the-world-its-government-is-among-the-least/?utm_term=.54d73d932c2d
https://www.forbes.com/sites/timworstall/2015/01/08/the-us-tax-system-just-keeps-on-getting-more-and-more-progressive/#3b4ac32a17b2
https://www.theatlantic.com/business/archive/2012/02/us-taxes-really-are-unusually-progressive/252917/
Australia's top income tax bracket is 45% btw.

>be south african
>don't want to pay 45% personal income tax, 14% VAT, and various other levies and duties
>don't want to be forced to give 51% shares in my company to BBBEE niggers
>move to America

W O W
O
W

>>127051637
They still live here yes... but export their jobs to other countries dumb fuck. Even in financial services they use Indian accountants because it is a better way to pay less in American wages and taxes

>>127054265
Always archive known sources of clickbait. If site, dump on archive.is; if youtube video, rewrite domain in url to hooktube.com

https://archive.is/Q6Av9 <- washingtonpost.com article
https://archive.is/xJeaX <- theatlantic.com article

>>127054604
> They still live here yes... but export their jobs to other countries dumb fuck
That's obviously not because of taxes then you idiot but because they can make more money since labor in other countries is cheaper. Did you even think before posting that?

>>127054265
effective tax rates are much more important to rich people than how progressive the system is.

>Australia's top income tax bracket is 45% btw.
that's the marginal rate, not effective. i'm done "discussing" this topic with a retard.

>>127054845
You think business owners only worry about wages and not taxes as well?