Higher taxes for the rich?
What are the real ramifications if we do raise taxes on the 1%? If we do will we see more money baggers like Facebook Co-Founder Saverin give up their U.S. Citizenship before cashing in on the big money of an up coming IPO? Would we or could we see a mass exodus of people and businesses if we start to put too big of a squeeze on the wealthy who for all intents and purposes drive the real wealth of this great nation? Already too many large corporations are foreign owned and with tax shelter shenanigans of domestic corporations sheltering profits in overseas locations and would higher tax rates simple exacerbate this problem? Do tax breaks and loopholes provide a source of equilibrium that keeps the rich people in the game? Has this been a self equalizing taxing dilemma we have faced all along?
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