Thursday, November 29, 2012

Who Wants A Millunaire?

Zerohedge just warned us that the U.S. faces a major outflow of millunaires due to the likely inevitable tax hikes resulting from the fiscal cliff calamity besieging Washington.  Not surprisingly, my take on these events is not quite the same as the catastrophic result the Lost Boys are predicting.  Let's look at this issue from another angle, where would all of these millunaires go and who would want them?  What are the criteria these Atlas-like "great men" should seek in their new very fortunate-to-have-them domicile?

In order to get what they have now, they would need a country that:

1)  Allows wealthly immigrants to keep most of their money in untaxed offshore bank accounts

2) Allows wealthy immigrants to have onshore money be taxed only at 14% even though the marginal tax rate for everyone else is 35%

3) Allows wealthy immigrants to harvest existing companies by outsourcing the employees, leveraging up the balance sheets and cashing out as early as possible

4) Has a political party dedicated solely to their interests, pledging to never raise taxes, yet lowering taxes every time they take office

5) Has a government that only pays for 60% of its budget and borrows the rest.  Bearing in mind that when the country is inevitably declared bankrupt, the millunaires will move on to the next tax free domicile

6) Allows wealthy immigrants to deride the laziness of the least paid workers in the country, many of whom were recently laid off by the same wealthy jackasses (aka. Harry Angel syndrome).

7) Allows wealthy immigrants to trade pieces of paper back and forth while skimming off billions with "legal" (i.e. unprovable) insider information, in the public casino (aka. stock market)

8) Expects government to bail out their investments in case they go tits up again, as the U.S. government did in 2008

9) A country open to starting various military industrial business ventures ("wars") and squandering massive amounts of public money on ludicrously overpriced military equipment.  The government must also be willing to buy some poorly functioning fighter jets, each costing as much as a 747.  The wage slave class will be expected to provide the cannon fodder for these long-lived military blunders.

10) A well trained Central Bank that enters the secondary market to prop up assets using newly printed money any time there is risk of the market falling.  Also, funds 0% loans for well heeled speculators.

11) Has a general populace brainwashed into believing all of the above makes sense, until it all collapses like a cheap tent.  At which point, the millunaires will move on again.

Who would want these people?  Antarctica?

Of course the MBA Con Men will tell us that there will be no jobs without the millunaires.  That's right, there will be no jobs with them, and there will be no jobs without them.  That's called zero correlation for the frat boys who obviously slept through statistics class.  One day everyone will realize that this shit show was caused by an entire generation of sociopathic Bernie Madoff's running amok while lying to everyone and themselves that they were Ayn Rand's non-existent Atlas.

Best Country To Be Born In
Lastly, here is the top ten list, fresh off the press.  Unfortunately for the millunaire con men and their dunce apologists, most of these countries have higher taxes than the U.S. and otherwise can spot a sociopathic con man from a million miles away.

Cue gratuitous video: