If they drastically reduced their lifestyle, don’t get taxed heavily, and are able to invest it, then sure. However if you don’t allow them to invest and they don’t drastically reduce their standard of living, that’s not nearly enough to retire on.
Remember that we already said 10M was below the cutoff of the wealth tax, so they aren’t being taxed heavily. Furthermore, they should be able to live their whole life without investing it if they are already like 35.
Even a fairly modest personal plane or small yacht will cost a million or more over years of use.
Whoa, so they can’t afford toys that should generally be banned for ecological reasons anyway? Again, if you can’t figure out how to live a happy life without a personal plane, you probably need to go to rich guy rehab. Just fucking find some cozy spot and live in idle luxury.
If your idea of philosophy involves theft, I don’t think I want to learn it from you.
People don’t functionally own land, they nominally own it at the mercy of the state. Many things work this way. Your problem is that you can’t see beyond a narrow paradigm of how society is organized, as though a particular version of liberalism was ordained by God as being the natural order. It is not.
Ah, this concept is so insane that I just can’t imagine it ever happening. In reality the companies and rich would leave and there would be nothing you could do to stop it.
No, because they only have their power to move things around at the mercy of the state, a state which is generally nice to them because their class controls the state. Many countries have various types of laws opposing capital flight. One excellent example is various manifestations of “right of first refusal” being used to prevent the gutting of factories. There is also the matter of simple history of the mass-repatriation of properties for reasons much less severe than the kind of opportunism we’ve been discussing, everywhere from Germany to China, along with the complicated legal histories of capital flight in various countries (example). Turns out money laundering can actually be stopped and assets can and have actually been seized for various reasons.
Remember that we already said 10M was below the cutoff of the wealth tax, so they aren’t being taxed heavily. Furthermore, they should be able to live their whole life without investing it if they are already like 35.
I think you underestimate how fast $10M can be spent. There is a reason why most lottery winners go broke.
Whoa, so they can’t afford toys that should generally be banned for ecological reasons anyway? Again, if you can’t figure out how to live a happy life without a personal plane, you probably need to go to rich guy rehab. Just fucking find some cozy spot and live in idle luxury.
So basically you want them to just live like you do, without any extra luxuries? I’m guessing they also can only afford a modest house since even a normal house is $500k+ and then triple that if they have a mortgage.
I don’t think it’s a problem if people own a private plane as a hobby (you know, like a private pilot) or a big boat for enjoyment. I’m not talking about crazy expensive stuff here, even middle class people are owning private planes.
People don’t functionally own land, they nominally own it at the mercy of the state. Many things work this way. Your problem is that you can’t see beyond a narrow paradigm of how society is organized, as though a particular version of liberalism was ordained by God as being the natural order. It is not.
You and others here have explained your version of liberalism, I believe you call it Marxism, right? I don’t believe it’s the answer for anyone but communist countries like China, and I don’t think that’s the answer for the US or most other countries. Do you have another version you are proposing?
Turns out money laundering can actually be stopped and assets can and have actually been seized for various reasons.
We aren’t talking about money laundering or anything illegal, we are talking about people wanting to move for a better life. Only the worst of the worst countries will punish you by stealing everything from you simply for leaving.
