Hacker News Reader

The US could just tax the rich more and spread the extra wealth gained through offshoring. But no.

That is basically what tariffs are, it taxes the wealth gained by offshoring. When you do that offshoring no longer provides you with cheaper goods and you get the current imminent downturn.

Other than that it is very hard to tax profits generated in another country.

> Other than that it is very hard to tax profits generated in another country.

But it's easy to tax personal wealth. It's new and different to tax wealth instead of income but it's not totally unreasonable IMO.

EDIT: also, the highest income tax rate in the US has dropped significantly since the 1950s. Maybe that was what made America great then?

> But it's easy to tax personal wealth.

No, it just means personal wealth moves abroad.

Is it? What if you hold shares in US traded equities? Can you still be a major shareholder if you somehow transfer that to an entity in another country?

And maybe a mutual taxation reciprocity agreement with other like minded countries could defeat those games?

Reply on news.ycombinator.com