House Bill 1406 of Washington is a First Step in Triggering Mass Exodus of Wealth
Captal goes where it it treated best. HB 1406 - 2021-22 is only going to be a stepping stone towards unhinged socialism within USSA. The idea is to leach off 1% of the "Wealth" of a citizen. It starts with first billion exempt. That is a very easy way to get approval. If you know how laws get passed, you should be able to recall many moments where history rhymed with this.
When Nationalsozialistische Deutsche Arbeiterpartei (National Socialist German Workers' Party) started confiscating the wealth of minorities, most people likely didn't worry enough about it. We all know how far that socialism went and how much death and misery it caused.
- Billionaires would have to live in the state for only 30 days out of the year to be subject to the tax
- We have already seen what happens with high tax states next to low tax states
- Countries like Singapore, Switzerland and other free market friendly economies are likely to receive more interest
- This was bound to happen in a democratic system anyways
- If people could vote free stuff for themselves bought with other people's money they will eventually vote for it.
The Original Bill
House Bill Analysis 2021
A Reminder About Socialism
There is still a some miles to cover between how things are in USSA and a full blow socialist country. You should not forget about how well these things are swept under the rug.
Holodomor: The Tragedy You Were Not Told About
Click on the title to read my full article on the subject. Thanks to the power if internet and blockchain, we can share this knowledge better. I recently wrote about the Thomas Sowell documentary movie. I'm happy to say that the movie has gained nearly 1.5 million additional views during the last 4 days. Read the article here.
Let's Wish These Billionaires Would support Some Privacy Coins
Personally I prefer the incredible amount of development and usability offered by https://pivx.org and my classic favorite Dash. Both are extremely usable, easy to use and very very cheap to transfer. Cryptocurrencies like Monero (XMR) are obsessed wth privacy, but scaling with affordable fees is not very great with the project.
If some of these billionaires would fund some research into better privacy technologies, it would be an amazing thing IMHO.
Ask A Lawyer for Legal Insights
I have few years experience in trading and I know good economics. What I don't know is the law regarding these matters. If you are a lawyer and have anything to add tot he discussion, feel free to offer your expertise. None of this are legal advice; it's common sense.
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Not shocking at all. People are unfortunately welcoming this with open arms but blind eyes and deaf ears to anything that is spoken to the contrary. Crazy times for sure.
They never understand how the second and third order consequences of this is going to be like. Beyond the obvious results like capital flight, t will be cheaper for a billionaire Fly his/her private jet regularly and avoid staying in these wealth tax states than to live there and pay the tax.If low tax states and nations hold their line, there will be many great things waiting for them in the future.