The more you tax them, the more will flee to countries willing to make concessions for them. But, taxation is preferable to seizing the assets; after seizure, you will lose a massive amount of business for obvious reasons, it will cost more than you seize.
I think that corporate control would be preferable. Shell companies and their machinations are at an absurd level today, see Panama and Pandora papers for more details.
How would you fix this without international solutions? What would those be? Can’t we make a deal?
Too bad we don’t have a diplomatic deal maker in office
You can tax them by demanding the tax regardless if domicile, as a tax for selling their shit in your country.
We can fairly quickly degoogle EU.
As for small, micro, or even SMEs, atm even municipalities are competing & bowing instead of sharin showing solidarity to others. Simple eg EU level laws are needed.
If the USA taxes Amazon, do you think Amazon will stop doing business in the USA? Do you think Amazon will do less business in the USA? No, of course not, there’s a billion warehouses and distribution centers in the USA, it would be impossible to move.
If the USA taxes Jeff Bezos, do you think Jeff Bezos will go live in Panama? Do you think he will move to Africa? No, of course not, he has all his stuff in the USA that he cannot move, he would never leave.
As long as corporations/billionaires have their stuff in a country, that country can tax their stuff. It’s the other side of the coin Trump is having trouble with. Trump slaps a tarrif on everything to encourage manufactuing in the USA, but corpoations don’t have many manufacturing capabilities in the USA so the end result is lost jobs and raised prices for nothing. There’s no manufacturing stuff in the USA and it would take a decade to make the stuff if they started now.
At a certain level of wealth, all the money is tied up in assets that are difficult to move. Those assets are assessed and used to borrow money to avoid income tax. We can use those same assessments and implement a wealth tax.
The deal should be, “Y’all have had it too good for too long. Pay your fair share immediately and indefintely.”
So much of what they own is the resources of this land and the labour of the people living here. If they leave, then we get all of that back for ourselves.
Even if it was real, roughly 0 billionaires are leaving the US because of tax issues. We can at least tax them until a few start leaving. It’s really a win-win scenario.
How would you fix this without international solutions? What would those be? Can’t we make a deal?
Can’t be fixed locally unless you got an incorruptible government -> refuse to do any business with problematic individuals and their corporations. As long as no one holds a monopoly on something you need to survive, that’s viable.
This is an international problem.
The more you tax them, the more will flee to countries willing to make concessions for them. But, taxation is preferable to seizing the assets; after seizure, you will lose a massive amount of business for obvious reasons, it will cost more than you seize.
I think that corporate control would be preferable. Shell companies and their machinations are at an absurd level today, see Panama and Pandora papers for more details.
How would you fix this without international solutions? What would those be? Can’t we make a deal?
Too bad we don’t have a diplomatic deal maker in office
You can tax them by demanding the tax regardless if domicile, as a tax for selling their shit in your country.
We can fairly quickly degoogle EU.
As for small, micro, or even SMEs, atm even municipalities are competing & bowing instead of sharin showing solidarity to others. Simple eg EU level laws are needed.
If the USA taxes Amazon, do you think Amazon will stop doing business in the USA? Do you think Amazon will do less business in the USA? No, of course not, there’s a billion warehouses and distribution centers in the USA, it would be impossible to move.
If the USA taxes Jeff Bezos, do you think Jeff Bezos will go live in Panama? Do you think he will move to Africa? No, of course not, he has all his stuff in the USA that he cannot move, he would never leave.
As long as corporations/billionaires have their stuff in a country, that country can tax their stuff. It’s the other side of the coin Trump is having trouble with. Trump slaps a tarrif on everything to encourage manufactuing in the USA, but corpoations don’t have many manufacturing capabilities in the USA so the end result is lost jobs and raised prices for nothing. There’s no manufacturing stuff in the USA and it would take a decade to make the stuff if they started now.
At a certain level of wealth, all the money is tied up in assets that are difficult to move. Those assets are assessed and used to borrow money to avoid income tax. We can use those same assessments and implement a wealth tax.
The deal should be, “Y’all have had it too good for too long. Pay your fair share immediately and indefintely.”
So much of what they own is the resources of this land and the labour of the people living here. If they leave, then we get all of that back for ourselves.
Wealth flight is a myth, it is not real.
A good video that sums it up in a nice way: https://youtu.be/6DXZMXZCY0I
Even if it was real, roughly 0 billionaires are leaving the US because of tax issues. We can at least tax them until a few start leaving. It’s really a win-win scenario.
Yes, it’s an international problem.
Can’t be fixed locally unless you got an incorruptible government -> refuse to do any business with problematic individuals and their corporations. As long as no one holds a monopoly on something you need to survive, that’s viable.