What will the U.S. do if the top % wage earners continue to not hire & invest their $ overseas to avoid taxes?

[fenwick]

The top 2% of American wage earners?"the rich? pay for 60% of ALL American tax revenue.
89+% of whom had NOT inherited their money but worked darn hard and sacrificed
blood,sweat,and tears to get to where they are today are not at all happy they are now expected to pay even MORE in taxes [ their FAIR share] are fed up.
These working Americans who are the top 2% wage earners, who are paying the "lion's share" of income taxes and they don't get ANY of the benefits [food stamps welfare cheques..], are constantly slandered as “greedy” and “selfish” for not being willing to hand over EVEN MORE of the money that they WORKED for in order to pay for the taxes and the benefits for the other 98% of other people who are not as productive as they are.

In other words, America has a lot of people who want more services from the government, but they are being encouraged to demand that other hard working people pay for it. It's wrong.. not even Moral, it’s not good for the economy, and it’s simply not SMART. It's doing no good.!

What it IS doing IS strongly motivating 1/2+ of American job creators to shelter and hide their income by investing their money abroad to keep the taxman from getting it. It also is driving American businesses overseas to take advantage of tax shelters and lower corporate tax rates. The more the successful working tax-paying Americans are taken advantage of by increasing their already super high taxes..., the more likely they will move out of America entirely.....which they already are doing.

Then what??
What will America do then?
Who will make up the lost tax revenue these people paid?

...What's America's "plan "B"?"...

[edin]

We'll continue on our current downward spiral. However, it will be at an accelerated rate due to the added expense of Obamacare. Eventually, enough people will wake up to get these goons out of the White House, and the Senate. The question is, when will that occur?

[gall]

The solution is more jobs and better pay for middle class Americans, which means formulating economic, fiscal, tax and trade policies which encourage the creation of such jobs in America. The only thing missing from your semi-rant is an accusation that it was the 98% who set monetary and housing policies that led to the real estate bubble, ineptly managed the ABS market and were also responsible for the gross incompetence of the various rating agencies.

Unless and until there are more jobs and better pay for the 98% of Americans who are underemployed and unemployed we will remain mired in a 2% growth rate, at best, and that eventually will take its toll on investors and owners because it is workers-consumers who drive private sector economic growth in every single economy.

If wealthy Americans want to cash out and leave, then they should. No one is stopping them. None of them is irreplaceable, not even one. Apple didn't come to an end when Steve Jobs died, for example. You're being hysterical to suggest otherwise.

There is a multi-billion tax avoidance and shelter industry industry that has grown up around a dysfunctional federal tax code. Republicans are okay with gaming the system, in general, and deficit spending to achieve their end of smaller government despite the express wishes of a majority of Americans. Their economic, fiscal and tax policies created the current situation. Or have you forgotten how President Bush bent over backwards to lavish tax cuts that disproportionately favored the extremely wealthy, hollowed out the federal government's balance sheet with trillions in new debt and averaged 30,000 per month job creation while encouraging the creation of the real estate bubble and insane levels of personal indebtedness by average Americans, and paying no attention whatsoever to the financial services industry.

Remind me again how implementing policies that primarily serve the interests of wealthy Americans worked out for the middle class and this country's fiscal health. Then tell me again how catering to these same interests, as Romney would do, is going to produce even better economic and societal results than W achieved.

[zackary42]

Nice cut-and-paste.

Allow me some time to sop up the tears for the poor rich.
They've had those deductions for ten years, see any jobs?

You don't even know that productivity isn't connected to 'hard work'.
America has a effective tax that is so low that two thirds American companies pay no federal taxes at ll.
And tax rates have never been lower on the wealthy, they were over ninety percent under Eisenhower. .
Top rates now are 35% And time and again we see they don't even pay that.
What more do you want us to do? Pay them directly out of our pocket, take up a coin container in the 7/11?
That's what we do when a child needs an artificial leg faster than her insurance company allows for.

TK I wish I could give you two thumbs up, the wealthy business class IS why we are in this mess.

I apologize, usually literate questions don't use caps.

[atworth49]

Nice cut-and-paste.

Allow me some time to sop up the tears for the poor rich.
They've had those deductions for ten years, see any jobs?

You don't even know that productivity isn't connected to 'hard work'.
America has a effective tax that is so low that two thirds American companies pay no federal taxes at ll.
And tax rates have never been lower on the wealthy, they were over ninety percent under Eisenhower. .
Top rates now are 35% And time and again we see they don't even pay that.
What more do you want us to do? Pay them directly out of our pocket, take up a coin container in the 7/11?
That's what we do when a child needs an artificial leg faster than her insurance company allows for.

TK I wish I could give you two thumbs up, the wealthy business class IS why we are in this mess.

I apologize, usually literate questions don't use caps.

The very wealthy do not PAY taxes...that's the problem!

But there IS an easy enough solution that has been used (and really worked well) before;

http://www.scifi-toyz.com/guillotine.jpg

[ricard83]

What will the US do about this ? Most likely, nothing.


buckeye

[hackett]

The liberals will continue to raise there taxes until they have to come back to the USA and hire more people. Wait a minute that will not work will it. Stupid liberals.