Yep. Millionaires threaten to move away if they’re taxed, but they won’t. The convenience of having their high value properties in highly sought after areas, where all the services they use are present, is too enticing, and even a hefty tax won’t be a deterrent.
Just imagine how much upheaval it would cause you to move a few states over. For a millionaire… it’s the same except they’re used to so much beyond basic survival - their parties, their exclusive clubs, exclusive gatherings, private boxes in theatres, the list goes on.
Do you really see such a person moving to Bumfuck Nowhere, Nebraska, just because that town doesn’t tax millionaires? Do you really see them giving up 80-90% of the “rich life” just to save their wealth? Hell nah. As long as you’re not explicitly threatening to tax them out of existence, they’ll stay. Because unlike the average people they can afford that extra expense.
But of course they don’t want to, they just yap around threatening the move without committing to it.
Also isn’t it so petty to admit you (would) move because you don’t want to shell out your bit for your community? Like isn’t that incredibly cheap? Don’t you like living in New York? Don’t you like your city?
It’s like the rich guy passing on the collection plate at church type move.
Well, the rich didn’t get rich by giving away their money.
To them it’s a status symbol - like how Apple products used to be status symbols for the plebeian (aka us).
Having multimillion dollar supercars, villas, mansions, seven bedroom apartments, etc., works well, but you’re only truly rich if you can show off how you didn’t actually lose any value to get those benefits. How you didn’t need to spend a single penny of your wealth to live the rich life.
Yeah I guess I should stop ascribing any kind of communalist value systems to them. The like of you and I aren’t in the group they consider their community.
A lot of millionaire wealth is tied to where they live. A New York lawyer or doctor can’t just move to Miami and expect to have the same level. Business owners could potentially move, but they still would need to keep traveling back and forth. Ultimately, their social life and lifestyle is where they already liveand being the one who moved because “is expensive” it would be seen as cheap.
FYI when we’re talking about taxing the rich and wealth we’re not talking about doctors and lawyers even if they still make a fuck ton because they are still getting paid for their labour and they need to work in order to maintain their lifestyle even if they would be considered rich.
What we’re talking about are people who make their living through their capital I.e. due to the exploitation of other people.
Yeah. We usually consider lawyers, doctors, tech people, academics at fancy universities etc. to be rich. But in the grand scheme of things, they’re upper middle class at best. The real rich are all people with generational wealth coming from businesses.
Who considered these people to be rich? Rich people don’t have to work. Those are working professionals. Manny of them have high debts for the beginning decade of their careers, too
People born before the 2010s, roughly. Doctors and lawyers were at one point considered two of the highest earning professions and it’s only been recently that college debt has really been considered a real issue rather than an excuse Millennials made up because they would rather complain about being poor than lift themselves up by their bootstraps.
For the Baby Boomers, these professions allowed them to buy lots of assets that have since appreciated in value and become generational wealth, and they think the world still works that way.
Yep. Millionaires threaten to move away if they’re taxed, but they won’t. The convenience of having their high value properties in highly sought after areas, where all the services they use are present, is too enticing, and even a hefty tax won’t be a deterrent.
Just imagine how much upheaval it would cause you to move a few states over. For a millionaire… it’s the same except they’re used to so much beyond basic survival - their parties, their exclusive clubs, exclusive gatherings, private boxes in theatres, the list goes on.
Do you really see such a person moving to Bumfuck Nowhere, Nebraska, just because that town doesn’t tax millionaires? Do you really see them giving up 80-90% of the “rich life” just to save their wealth? Hell nah. As long as you’re not explicitly threatening to tax them out of existence, they’ll stay. Because unlike the average people they can afford that extra expense.
But of course they don’t want to, they just yap around threatening the move without committing to it.
Also isn’t it so petty to admit you (would) move because you don’t want to shell out your bit for your community? Like isn’t that incredibly cheap? Don’t you like living in New York? Don’t you like your city?
It’s like the rich guy passing on the collection plate at church type move.
Well, the rich didn’t get rich by giving away their money.
To them it’s a status symbol - like how Apple products used to be status symbols for the plebeian (aka us).
Having multimillion dollar supercars, villas, mansions, seven bedroom apartments, etc., works well, but you’re only truly rich if you can show off how you didn’t actually lose any value to get those benefits. How you didn’t need to spend a single penny of your wealth to live the rich life.
Yeah I guess I should stop ascribing any kind of communalist value systems to them. The like of you and I aren’t in the group they consider their community.
A lot of millionaire wealth is tied to where they live. A New York lawyer or doctor can’t just move to Miami and expect to have the same level. Business owners could potentially move, but they still would need to keep traveling back and forth. Ultimately, their social life and lifestyle is where they already liveand being the one who moved because “is expensive” it would be seen as cheap.
FYI when we’re talking about taxing the rich and wealth we’re not talking about doctors and lawyers even if they still make a fuck ton because they are still getting paid for their labour and they need to work in order to maintain their lifestyle even if they would be considered rich.
What we’re talking about are people who make their living through their capital I.e. due to the exploitation of other people.
A quick search suggests most New York lawyers (avg $176k/yr) and surgeons (avg $300k to $750k) aren’t going to be be affected.
Yeah. We usually consider lawyers, doctors, tech people, academics at fancy universities etc. to be rich. But in the grand scheme of things, they’re upper middle class at best. The real rich are all people with generational wealth coming from businesses.
Who considered these people to be rich? Rich people don’t have to work. Those are working professionals. Manny of them have high debts for the beginning decade of their careers, too
People born before the 2010s, roughly. Doctors and lawyers were at one point considered two of the highest earning professions and it’s only been recently that college debt has really been considered a real issue rather than an excuse Millennials made up because they would rather complain about being poor than lift themselves up by their bootstraps.
For the Baby Boomers, these professions allowed them to buy lots of assets that have since appreciated in value and become generational wealth, and they think the world still works that way.