In theory yes, in reality many of these people are pay little to no taxes, on their personal income. Once you hit a certain level of income you can more or less buy the services and accounting advise that lets you determine your level of taxation. Jeff Bezos famously paid so little in tax that certain government programs designed for the poorest became available to him as well.
One of the more famous Danish millionaires have recently criticized the governments plan to target people like him with a new tax. He already announced that he wouldn't be paying it, opting instead to "reallocate his funds" to keep him out of the new tax bracket.
Maybe if they're gone we can reallocate my taxes to education and healthcare instead of giving trillions in handouts to billionaires. We could end up with an increase in money available for social services.
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It's a bad thing. Rich individuals leaving a country means less tax income for education, healthcare, etc.
In theory yes, in reality many of these people are pay little to no taxes, on their personal income. Once you hit a certain level of income you can more or less buy the services and accounting advise that lets you determine your level of taxation. Jeff Bezos famously paid so little in tax that certain government programs designed for the poorest became available to him as well.
One of the more famous Danish millionaires have recently criticized the governments plan to target people like him with a new tax. He already announced that he wouldn't be paying it, opting instead to "reallocate his funds" to keep him out of the new tax bracket.
Maybe if they're gone we can reallocate my taxes to education and healthcare instead of giving trillions in handouts to billionaires. We could end up with an increase in money available for social services.