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Originally Posted by zuffa
This thread illustrates that the USA has seen it's best days.
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Spot on for most of the West. The rising economies aren't creating just new wealth, they are taking it away from old wealth.
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Let me be 100% clear. As a large business owner, when taxes reach an unacceptable level we simply move assets and generate revenue elsewhere. Ultimately we will only be taxed to the point it makes financial sense.
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When any costs reach a level where it can be cheaper or a better return elsewhere. Customers and businesses move. Most businessmen have employed tax accountants since they were invented to minimise taxes, if that means moving it off shore. It goes offshore.
Some won't for the odd 5%. If tax havens are tax free, how low does it have to be in the US to keep those who can move cash to havens?
Now we have to think of morality. Should a company or businessman making millions in countries not tax havens, from people who have to pay full whack. Be able to move their money off shore and still be a citizen of the country and run for the Presidency?