Trump/Admin Policies

Lerxst1992

josevolution said:

Get_Right said:

Lerxst1992 said:

Tim Simmons said:

No one who is wealthy that lives in NYC will leave NYC. They choose to be there for a reason and the current tax rate doesn't bother them a new one won't be the breaking point.

Who says leave? I’ve been saying limit to 182 days or less in state.

and it’s completely up to the wealthy. Not you, not me, not ZM. But them.

its the simplest type of tax to avoid, and since the wealth is concentrated at the top, and it’s their decision, only a small percent leave, the city risks default, it’s happened before. And the USA already has the most progressive tax system in he world.

I know a few wealthy people that do not stay in any one country or US state for more than 90 days per year. And all capital gains are realized in the lowest possible tax jurisdiction through holding companies. They can change the rules, the wealthy find ways around it.

Screw that I guess if the payoff is so much that the gain is hard to refuse? But moving around to avoid paying taxes is absurd to a peasant like me, surely these folks you know don’t have young kids? 

They are looking to tax elite wealth. This isn’t like a PJ fan plotting out travel logistics for an Australian or European tour eight months in advance. That’s not easy

the tax base ZM is going after already own residents around the world and private jets. If they decide they don’t want to pay the extra million bucks every year it’s  up to them alone, not ZM, not me, not you.

Tim Simmons

I guess we’ll see how it goes!