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<blockquote data-quote="brett636" data-source="post: 867401" data-attributes="member: 249"><p>That's the problem. They'll huff and puff about having to pay higher taxes and threaten to move their money around. No different than Fred S huffing and puffing and threatening not to buy those 17 Boeing aircraft if there was a unionizing effort there, etc etc...it's the same old song and dance. Poor souls.</p></blockquote><p></p><p>When someone has millions or billions of dollars to their name moving is more of a hassle than anything else. Relocating to a different state and or country is not beyond them. Maryland passed a millionaires tax and when the receipts came in they took in significantly less in taxes from the new tax than they expected as a lot of wealthy individuals found it cheaper to move than to pay the tax. I remember reading not too long ago about the state of Illinois considering taxing "wealthy" retirees as a means to increase tax revenue. Now if there is one group of people who can pick up and leave in a heartbeat its people with lots of money and no job/career holding them to their location. </p><p></p><p>Finally the whole idea of taxing people more to bring down the debt simply isn't a feasible solution. Our politicians are children when it comes to money, and when more money comes in they spend more. You cannot tax away to deficit let alone the national debt because our politicians both democrat and republican cannot help themselves but spend it in hopes of saving their own hides.</p><p>[/QUOTE]</p>
[QUOTE="brett636, post: 867401, member: 249"] That's the problem. They'll huff and puff about having to pay higher taxes and threaten to move their money around. No different than Fred S huffing and puffing and threatening not to buy those 17 Boeing aircraft if there was a unionizing effort there, etc etc...it's the same old song and dance. Poor souls.[/QUOTE] When someone has millions or billions of dollars to their name moving is more of a hassle than anything else. Relocating to a different state and or country is not beyond them. Maryland passed a millionaires tax and when the receipts came in they took in significantly less in taxes from the new tax than they expected as a lot of wealthy individuals found it cheaper to move than to pay the tax. I remember reading not too long ago about the state of Illinois considering taxing "wealthy" retirees as a means to increase tax revenue. Now if there is one group of people who can pick up and leave in a heartbeat its people with lots of money and no job/career holding them to their location. Finally the whole idea of taxing people more to bring down the debt simply isn't a feasible solution. Our politicians are children when it comes to money, and when more money comes in they spend more. You cannot tax away to deficit let alone the national debt because our politicians both democrat and republican cannot help themselves but spend it in hopes of saving their own hides. [/QUOTE]
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