If economic ignorance could have a slogan, this would be it. It has been tried dozens of times and it NEVER EVER works. And there is a reason for this: rich people are not helpless. IF they lose a legal battle, or if they decide that it is simply in their best interest to evade rather than fight, they leave.
Dear liberal fools, read my lips. THEY JUST LEAVE. Got it?
Elon Musk and many others in cally got wind that an annual wealth tax was coming. Knowing that liberal CA government was both greedy and stupid, they didn't even try to fight the new direction. Instead, they just left. Just like that. And to really drive my point home, the stupid liberals of dying NY state are on the verge of losing their state as the home of the New York Stock Exchange.
You see, in its delusional liberal stupor, the corrupt politicians of that dying state have threatened to make up for their incompetent and massively corrupt handling of covid by placing a transaction tax on stocks. Well, what a windfall that would be when hundreds of millions of shares trade daily, many of them by computer bots! Those bots would be like money machines for the state. This would more than anything become a tax on bots. And whether or not you think this is a good thing, the owners of said bots, namely the market makers on NYSE, will end up paying huge taxes because of it. Rather than do that they, like other rich people, will just move.
The last time that a state tried to fleece a major corporation like this was back in Boca Raton, Florida in the mid 1990s. The greedy moron politicians said, well, IBM is entrenched in south Florida. They have a huge facility on Yamato Rd in Boca with a work force of 13000 strong. This is the home of their very successful personal computer R+D AND manufacturing. Now that they have invested like this we can saddle up next to them and put a gun in their side demanding annual tribute.
Back then the scam was that the state of Florida put in place what they called a "unitary tax" which served to impose a STATE tax on the rich IBM based on their GLOBAL earnings. They felt so strongly that they could get away with this that they closed their stupid ears to warnings that it was not going to happen. The state said loudly and boldly that it WAS going to happen because for IBM, "TINA" (There Is No Alternative). Once this became law, IBM announced it would be shutting down its s. Florida operations and moving everything to Raleigh NC which would be better for distributing manufactured products anyway. The state of Florida thought it was a joke, a bluff. 3 months later IBM was well under way offering people early retirement or a job in Raleigh. They shut down the PC manufacturing line and we in the process of disassembling it. And then Florida freaked out, repealed the law and said mea culpa, we were just kidding. But IBM was a juggernaut in motion and it just said "too late, the damage is done, have fun not only not screwing us but also losing a massive 13000 very well paid local jobs, YOU IDIOTS!".
And that was that. The rich just left. Why NY state thinks it will be different this time is beyond me. Their liberal imaginations have run wild about all the money they can steal with their corrupt laws. But if they go through with this then I predict that NY state will collapse because if NYSE leaves and sets up operations elsewhere, all those high paid wall streeters will follow. IF you ever find out that NYSE is for sure leaving NY state and if you know for sure where they are going then you will make a ton of money if you front run them by getting there first and buying up all the best real estate.
If you want to know the truth about why the left is attacking trump so badly its simply because they are dying and they know it and they need to distract their delusional followers. True story.
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