Cons, in your mind, what happens if all the rich people "left" America?
does demand just disappear? do all companies just close?
do people stop buying and just lay down in the streets and die?
no, that's not what happens... people take their place, that's all... other people start making stuff and they get rich...
lol... the path to prosperity is still there... people still get rich every day in America... some VERY rich...
and I don't think we're Haiti... we have infrastructure, we have an educated population.. and we still have a big market for goods...
there probably would be a few rough months at first... I do agree with that... as the monetary system stabilized... but after a year or two... it would just be new rich people...
No one is "getting rid of them"... this question is about if "they left on their own"... lol...
let's not create new questions here
if the rich... ALL THE RICH, really left... and I mean ALL and REALLY... the gov. would probably cut off ties to the actual rich, and take their companies away...
the gov. just isn't going to sit there and let them leave and continue to make millions out of their pockets...
France's issues just started, and FAR from "all" the rich have left... only a few so far...
A. I didn't say it was easy, I just said it's the natural extension of the situation
B. I'm working on it...
- Salty dogLv 67 years agoBest Answer
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.
- mawduce65Lv 67 years ago
This is the big fear of conservatives. If we tax them they will leave. If the banker types leave so be it. They will stop messing up our financial markets. As for the corps, they cant leave. There are very few places in the world with the skilled labor force and resources that the US has. It would make no sense to make things abroad and ship them to the US. For the items that really matter, the US will always manufacture some goods domestically. I know someone who works for Wyman Gordon. Among other things, they make aircraft parts. They will not ship to China. They place numerous orders and none of them get filled. They know they have to protect their industry and that can only be done by staying in the US and paying the tax rate that is asked of them.
- 7 years ago
Really? that's what happens? I guess France and England should be in a tizzy with all those new people coming in to take care of business since the rich are leaving those countries in droves because of the taxation of "the rich"... but wait... England and France have both discovered that their revenue has decreased substantially since they increased the taxes on them........ The fact is that their "businsess" will remain right where it is, with the workers and everything, but THEY will leave with their MONEY and pay less taxes elsewhere while raking in more because their Business is still doing well
The government would take their company away from them????? only the left believes that the government should be able to do something like that... it fits well with their ideology
- Aegis of FreedomLv 77 years ago
The federal government would lose somewhere around 70% of it's revenue. This means the debt crisis would increase exponentially and lead to the collapse of the government.
This is our fate anyway, but if the "rich" all leave it would massively accelerate the process and make the recovery next to impossible.
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- LizzyLv 67 years ago
How are they going to get rich when you take away the same path to prosperity that they took genius?
- StogiemanLv 67 years ago
Not that simple. The outflow of wealth from the US would cripple the economy. I know. I have a degree in Economics.
- Hugh JorganLv 57 years ago
They leave they take their money with them.........If it's so easy to "take their place" why don't y'all stop whining & start doing? That's all we want anyway... DO IT YOURSELF........
- ObjectiveLv 47 years ago
And then they become rich people. Then we get rid of them, and other people take over, and they get rich. Then we get rid of those rich guys, and other people get rich???
WTF are you talking about???
- Henery HawkLv 77 years ago
look at africa or haiti