Billionaires Flee U.S. Taxes

[K0RGR]

http://www.msnbc.msn.com/id/48118502...sonal_finance/

The first thought that comes to mind is 'rats deserting a sinking ship', but that would insult the rats. 1,800 have left this year? I'd also say 'good riddance' but their leaving creates big holes in an already sickly economy. However, since much of their wealth is probably already offshore, the impact may not be that big. At this rate, the 1% will soon be the 0.5%.

[AF6LJ]

They read between the lines.
There is a substantial economic downturn coming, that will include a readjustment of the value of the US dollar. The current president gave GM a bailout and sent them on their way to China, the FED hasn't stopped generating interest free money for it's member banks during the last four years.
It is the equivalent of having the printing presses turning out money twenty four hours a day for four years running. Commerical properties are in bug trouble, that bubble is about to pop, along with hoards of Americans turning their back on their cred card companies.
The real unemployment rate is twenty two percent if the birth / death calculating scheme were to be abandoned.

The Billionaires are doing what they do best; watching out for their best interest and leaving a former superpower and soon to be third world country.

The steep decline began with GATT and NAFTA.

[W5WPL]

I'm gona start buying pesos

[N2RJ]

Even if the US$ goes down, I highly doubt we will be alone. You might think I'm crazy but I don't think betting against the US is a wise strategy.

Those renouncing citizenship are escaping taxation, plain and simple. There is no other motivation, except for the rare few like Bobby Fischer who just think the USA is evil... and even he had an issue with his taxes.

And when all of these wealthy people leave, who is left holding the bag? Yes, the 99% will probably become the 0.5% and the 0.1% and eventually the 0%. Congratulations, the OWS people won't have anybody to complain about anymore.

[N2RJ]

I'm gona start buying pesos

As in Mexican ones? From Mexico, the country whose economy is based in large part on US exports and remittances from illegal aliens working in the US?

[AF6LJ]

As in Mexican ones? From Mexico, the country whose economy is based in large part on US exports and remittances from illegal aliens working in the US?

But...
But......
They have a thriving drug exportation trade, it's even backed by several governments.
Could be a sound investment.

[AF6LJ]

Even if the US$ goes down, I highly doubt we will be alone. You might think I'm crazy but I don't think betting against the US is a wise strategy.

Those renouncing citizenship are escaping taxation, plain and simple. There is no other motivation, except for the rare few like Bobby Fischer who just think the USA is evil... and even he had an issue with his taxes.

And when all of these wealthy people leave, who is left holding the bag? Yes, the 99% will probably become the 0.5% and the 0.1% and eventually the 0%. Congratulations, the OWS people won't have anybody to complain about anymore.

We won't be the only one going down, remember the world economic collapse has been going on for roughly six or so years now. These things never happen over night and given how the world is economically interconnected it will include just everyone who does business with the western world.

Betting against the US...
I am not a betting woman, which is why I pulled everything I had out of the Stock market in August of 1987.

[N5XM]

Meanwhile, the rest of us remain here in the crosshairs of the IRS.

[KD8DEY]

The Rich have been raping the poor and middle class for their comfort for centuries, Nothing new about that.
That's why poor/middle class people began to form Unions.

Only thing is, that Unions became Corrupt and greedy just like the Rich, So the rich and
their corporations moved overseas to exploit cheaper labor.

This of course gave the rich even more opportunity to rape the poor/middle class
to the point that the middle class in the U.S. is all but extinct.

All they (The Rich) are doing is moving to greener pastures to start the game all over again. It's called "class warfare"

They won't rest (Win) till a world wide caste system/Fiefdom is re established

[G0GQK]

Its a fact that the rich do not believe that they should pay any taxes, no matter which country in the world they are resident. Most of the problems affecting Greece are the result of the rich having dispensation from the various governments whose political members are also rich, not to pay tax. Vast amounts of cash has been removed from Greek banks in the last year and many of the better educated have left the country. As a consequence the people who are lower down the scale think, if all these rich people don't pay taxes, why should I ?

Same situation in Italy. The government is said to have 2,500 tons of gold, and the population who have money have been keeping it in banks rather than spend some of it, and the same situation applies to the people of Japan. Newspapers have said for years that avoiding paying tax in Italy is a sport which has been played for perhaps five centuries, maybe longer.
The members of the government, any government, are great enthrusiasts of the European Union they fiddle and embezzle with gay abandon money from the EU and are fully fledged participants of bunga bunga.

It said in the paper today that a large pharmaceutical company which supplies the hospitals of Portugal with medical drugs have not had their invoices for hospital supplies paid for 500 days and are either threatening, or have stopped supplying hospitals until they get paid

Britain has many rich Russians living in London, and apparently Cyprus Island is like an overseas Russian region there are so many living there

Mel G0GQK