Replies (60)
I don't think politicians have enough brain power to make that calculation.
It was tried in Norway with disastrous results. Why remain somewhere you are treated poorly when places like UAE welcome you with open arms?
There are even services like Nomad Capitalist that help you choose the right jurisdiction for you.
Some wise man wrote about the Laffercurve a few weeks ago ๐
It'll also make bullets fly into their brains.
Where would you all go? This side of the pond will do as the WH tells it. We could all run to Russia because we all won't fit in El Salvador
Always fun to see a good retest of the laffer curve. ๐ฟ
The destruction seems so stupid it must be intentional, right?
๐๐
#kamala2024
#accelerate
๐ฏ
I agree. But not everyone knows that. And some of the less financially interested voters would do well to understand this.
๐งก
Acceleration of collapse x5
All those angels who voted for her would stay and save us. ๐
Itโs a warning to the techboiz backing Trump
I bet there won't be a tax refund for unrealized losses.
Definitely heard this in Obamaโs voice, haha.
"worry is a waste of mind" gr8 grand said "get back on your horse"
Agreed. It would be financial suicide.
So... you're saying there's a chance that we win either way? ๐ซก๐บ๐ธ๐บ๐ธ๐บ๐ธ
I believe he meant non-starter as in:
there are still enough adults in the room, even in a Harris administration, that realize unrealized cap gains is equivalent to economic seppuku, complete with scorched earth, so radioactive that the regime would collapse, before any sort of illusion of property rights could be re-established.
because US taxes are global - there is no escape if you are a US citizen
I sort of knew, but thank you
Everything goes as planed.
James Lavish
Let me be clear. If Kamala Harris somehow forces a 25% unrealized capital gains tax, the flight of capital out and subsequent collapse of the US markets would be absolutely breathtaking. And the ultimate result would be far lower tax revenues than we have right now.
View quoted note →
They gain from friction they create
and he wonders "why invaded?"
Weโre headed to the right side of the Laffer curve, boys. Buckle up.
Where do these people come from? Kamala might be a Matryoshka doll. ๐ช the gift that keeps on giving. You get her -> Bernie Sanders -> Lenin
Ignorant people with power = disaster.
Iโm not so sure. It may be a negotiating tactic right now. But theyโre planting a seed in (ignorant and angry) peopleโs minds.
There will come a time when those people are going to demand it.
Itโs just a matter of time and the right circumstances.
Voting for Harris is the new NPC test.
Prison for not paying their taxes lol
Only real option for US citizens is Puerto Rico or renunciation. I would imagine if they catch you not paying they'll just shut off your passport and then you can't even get back in (or out). would have to have a second passport and be denied US entry.
Unfortunately, you may be right.
If this tax actually comes into existence, I will be leaving.
You will save nothing.
You will own nothing.
You will produce nothing.
You are nothing.
We need to recognize the democrats sole goal mission is to get Donald Trump re-elected.
Itโs the only justifiable reason theyโve continued to talk about and market him for 8+ years. Now even the left policies are showing their hand.
Right now, the exit tax on unrealized capital gains is holding certain Americans back to just vote with their feet. Once Kamala enforces an unrealized capital gains tax, every year, the current economic berlin wall will tear itself down
So you're telling me People wont sell their chingaderas to give the government money?
But whos going to tech our Kids?
Hey James, Iโm trying to understand both the dynamics and implications of such a move (wealth tax and/or unrealized capital gains).
Letโs say capital starts to leave the US, donโt you think lawmakers would enact strict capital controls to corral their tax base?
If so, would this be compatible with the US dollar position as global reserve currency?
scrolled the entire comments section looking for just one that mentions the proposal would be for individuals worth $100M and more. not that that actually matters. but the fact that no one mentions it kind of does.
fuck politics
Nah, where are they gonna run? Bahamas? Dubai? Calm down
Would you say, it might be a "Bloodbath"?
Where will you go?
I think thatโs the idea ๐คท๐ปโโ๏ธ
Funny thing is that most people know that. Except Kamala.
We donโt need a bloated government and they donโt need to steal anymore of our money
it's a slippery slope
everything is
kinda want it happen so I can watch the fire works? is this wrong? haha
If I was an American bitcoiner in that situation, I would fluch my bitcoins in the toilet and immediately forget my seed words.
I can't have it, they wont!
I wonder if this tax does happen, do privacy coins like Monero suddenly surge for obvious reason?
And to make sure we only target ultra high net worth individuals, we're just gonna need to surveil every single transaction everyone does, k?
exactly
๐ฏ It was put to test in Norway already and the outcome was a disaster. I'm not sure how they are not aware of it. They all act like they are totally retarded.
If this becomes reality rich folks will simply denounce, pay the exit and that will be it. Still cheaper than paying every year. Rich people always find a way since they have resources. The issue is that this is just the start so we all need to have a plan B. They will come for the little fish too.
That would be a reason enough not only to flee the country, but to abolish the government. The mental framework to approve such law can only come from deep insanity.
Exactly, only a matter of time for people to realise the tax burden doesn't justify the quality of living in a western country. Other countries are more and more noticing there's an opportunity to welcome rich and productive people
Precisely! I have worked all over the world and there is a big market for people from the western countries. The never ending foreigner train will also stop once these people find out what sort of craziness is going on in the US. The American Dream is what brings most people here. Taxes have been low compared to every EU country. Yes people have to deal with the nightmare of health care and educational systems but for young foreigners US was always the place to come and make money. Raising taxes will end this period of time.
The important thing is that you will have the first female president and Hollywood will film a great movie to celebrate Democracy after a few years of how she fought corporate interests with a 25% unrealized capital gains tax!!!
James Lavish
Let me be clear. If Kamala Harris somehow forces a 25% unrealized capital gains tax, the flight of capital out and subsequent collapse of the US markets would be absolutely breathtaking. And the ultimate result would be far lower tax revenues than we have right now.
View quoted note →
