Mamdani, the presumptive Democratic nominee to be the next mayor of New York and a self-identified democratic socialist, said Sunday billionaires contribute to inequality.
People have to stop believing that wealthy people will leave instantly once they begin getting taxed. This is just a lie.
They are wealthy because of their assets and connections. They have houses, appartements, offices and factories. They have a network of influencer in the country they live in, in the city they live in ! They have a big family, kids. It’s actually harder for these people to move out than you and I.
The money is already escaping. They use any loopholes (fiscal optimization they call it) to pay much lower tax than anyone else proportionally.
They won’t leave ! Let the tax begin ! The loopholes have to be eliminated so that they cannot convert their wealth to escape tax artificially.
People have to stop believing that wealthy people will leave instantly once they begin getting taxed. This is just a lie.
They are wealthy because of their assets and connections. They have houses, appartements, offices and factories. They have a network of influencer in the country they live in, in the city they live in ! They have a big family, kids. It’s actually harder for these people to move out than you and I.
The money is already escaping. They use any loopholes (fiscal optimization they call it) to pay much lower tax than anyone else proportionally.
They won’t leave ! Let the tax begin ! The loopholes have to be eliminated so that they cannot convert their wealth to escape tax artificially.