You are saying that the very rich hold the bulk of the country's wealth, are you sure that's true. Do you have any idea what the country's wealth distribution factor is. A small portion of the populace, maybe extremely rich. However, if they only hold 8% or so of the country's total wealth, then their leaving will have no impact. If the total wealth of the country is equally distributed between the general populace, as it is now. Then everybody can carry on as they do, with no fear of the general populace moving to a new continent.
Hi @kirfirz 1.
Very interesting analogy.
America has lost a lot of jobs to China, however the customer base (as you say), in the states is still the same.
Cheap products increase the standard of living, however there is a down side,that being unemployment.
And this is the major challenge as decreasing tax will not increase employment, but by changing the currency ratio rate to the Chinese currency, will.
This will make imported product more expensive, but at the sometime as products become more expensive, there will be a fall in the standard of living.
Employment will increase as american products become more competitive, but you will have less in your pocket.
Scandinavia has the highest taxation rate in the world, one would think that investors would steer-clear of Scandinavian, but no, they are all there Coca-cola,IBM,Microsoft,Ford, etc.and they make money and they pay tax.
And non of them seem to want to leave. So this taxation, means less prosperity and employment thing, doesn't seem to hold water.
I think,but I really don't know, but it's said that taxation in the UK is one of the lowest in Europa.But they have trouble with unemployment, housing, education, lose of wealth through a badly managed currency rate. Ireland is also a country that has low taxation and high unemployment.