My D&G mate in the US sent me this link and he's certain there will be massive social unrest soon.
cameron-fleeing-america-to-escape-collapse
cameron-fleeing-america-to-escape-collapse
The rich are leaving America
- Thread starter shuggy
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....compared with whom ??
"Those" compared to wealthy folk in Vermont and Connecticut.....you're only talking about a few hundred at most. No big deal.
"Those" compared to dirt poor Eritreans.....now you're talking the full 300 million of 'em. Look out world !!
Shuggy, I'd reckon the vast majority (99.99%) of US citizens aren't going anywhere....
The folks I chatted to when I was in the US all mentioned that anywhere outside the US borders was 3rd world.....although most did single out England as being possibly OK.
Where is the overly emotional language? I thought it is a credible article. And just because they interview a few people, doesn't mean a whole trend isn't developing. They cant interview 1000 rich people for the article.
Ahhh...the beauty of economic rationalist, unregulated, right wing capitalism. Complete joke. America is unwinding at an alarming rate. Economically, socially.....
Ahhh...the beauty of economic rationalist, unregulated, right wing capitalism. Complete joke. America is unwinding at an alarming rate. Economically, socially.....
the americans are coming here and spending their money on houses.
no, no - it's true.
no, no - it's true.
The super rich only get tax 15% max (by having all their wealth in shares). You can be filthy rich and be on the lowest tax rate in the world!
That's what I heard that the Super rich pay around 15% in tax currently and are willing to perhaps pay more (some joint US government discussions, apparantly up to 17%).
In a recent speach president obama said the rich were those earning $1m/year & they'd soon pay 30% + medicare & that'll prolly go up more in future.
Yes there are people like warren buffet who only pays himself $100k/year & so he pays less tax than his secretary. But it doesn't matter how much they tax people when 40c of every dollar that the U.S. government has spent is borrowed money.
Short the Dow if you believe all this exodus!
why????
In Australia many of the 'super rich' pay taxes of less than 20%, its quite common.
No 'super wealthy' pay taxes anything approaching 40%
Exactly. He's an idiot. The only people that get hurt by this are the middle class - the very people he is trying to 'help'.
I wouldn't short the dow while the Leading Economic Indicators point up. There'll still be upswings especially if the Fed starts 'printing'. But at some point more printing will only lead to inflation. What can they do then?
The Fed is lucky it didn't have to print this time due all the scared money pooring into U.S. treasuries from Europe, boosting the U.S. dollar & economy.
The highest income tax rate in the US is 35%, and Obama proposes to return it to 39%.
So Americans are going to come here and pay 45%?
I don't see it.
It's not that simple. Cal, and many other states, has state income tax [10%?] ands everyone will pay "Obamacare". And there has always been social security where, unlike here, it is pooled and spent. All in you can easily pay >50%.
American citizens living o/s always have tax obligations "at home" even if they have never had a US passport and never set foot in the country. If you are born of US citizens you must file US tax returns. I was shocked to read of this just recently, the example given was someone living in Canada.
Apparently you must renounce citizenship to absolve yourself, and that is expensive and time consuming.
"Informed" Americans [may not be too high a percentage] are making plans, moving to the better financed states where services such as police and garbage will be maintained. Expatriate living web sites are busy and they are buying guns, baked beans and gold. The last of the middle class feels under siege.
But I agree that not many are going to move here. They can go to Central America, it's not too far and they can take their guns. Most Yanks can speak street Spanish [I think, I've never been there!].
My brother's even more of a doom and gloomer than I am, and lives out in LA.
He's planning on setting things up so that he can bug out if things turn nasty, and expects serious civil unrest at some unspecified point in the future.
Similarly, someone he was working with a few months back had plans of how to get clear of the city in the event that it all kicked off. And this is an educated, Prius driving type too.
It's possible that there's an undercurrent in California that's making some people nervous, and James Cameron is picking up on this.
Then again, he's about to start production on parts two and three of Avatar, and is likely to need to be in NZ until 2015 or 2016.
He's planning on setting things up so that he can bug out if things turn nasty, and expects serious civil unrest at some unspecified point in the future.
Similarly, someone he was working with a few months back had plans of how to get clear of the city in the event that it all kicked off. And this is an educated, Prius driving type too.
It's possible that there's an undercurrent in California that's making some people nervous, and James Cameron is picking up on this.
Then again, he's about to start production on parts two and three of Avatar, and is likely to need to be in NZ until 2015 or 2016.
I understand a lot of Americans bought into Queenstown NZ before the Y2K issue; and many are retiring south of the border to places like Cancun, but that's primarily for economic advantage.
I also understand many have bought property in remoter parts of the US; and Canada, but this may have slowed since the USD weakened.
Everyone knows about Jim Rogers and Marc Faber, and no doubt there's hundreds of ex pats like them, motivated by economic opportunity in addition to US socioeconomic decline.
I think Aussies should take more note of what's happening within our borders. I have been quite surprised by the increasing popularity of having major dental work done in Thailand and India. Several Argentinians I know wait to see a dentist on their trips home. And before poo-ing poo-ing "3rd world" dentists, you want to look into it more carefully. There might be a few dodgy guys doing breast implants, but their top guys are at least as good as ours; and generally train in the UK, US, Canada, or Australia.
So we've outsourced manufacturing, and are progressively doing the same with retailing manufactured products, and now health services.
Makes sense with a strong AUD and cheap flights.
I also understand many have bought property in remoter parts of the US; and Canada, but this may have slowed since the USD weakened.
Everyone knows about Jim Rogers and Marc Faber, and no doubt there's hundreds of ex pats like them, motivated by economic opportunity in addition to US socioeconomic decline.
I think Aussies should take more note of what's happening within our borders. I have been quite surprised by the increasing popularity of having major dental work done in Thailand and India. Several Argentinians I know wait to see a dentist on their trips home. And before poo-ing poo-ing "3rd world" dentists, you want to look into it more carefully. There might be a few dodgy guys doing breast implants, but their top guys are at least as good as ours; and generally train in the UK, US, Canada, or Australia.
So we've outsourced manufacturing, and are progressively doing the same with retailing manufactured products, and now health services.
Makes sense with a strong AUD and cheap flights.
