Sunday, June 07, 2009
The Misery Boom
(For those of y'all reading this years from 2009....we are amidst the Greater Depression right now.)
I came across that cartoon this morning and immediately thought of a gentleman I was boozing with last night.
He's in *international tax*. In other words, he helps companies flee *high rent* districts and set up shop where thuggish governments don't confiscate all their assets.
I believe he's pretty darn busy these days; and could just as well be the smiling punchline of that cartoon.
First of all, Great Britain has just raised its top income tax rate from 40% to 50% - and set off a frenzied capital flight.
And, secondly, whether or not Obama and Congress do eventually make good on their promises to raise taxes on the wealthy....there are plenty of American concerns already taking precautionary steps.
These people all need advice and counsel. So the government is at least *stimulating* something these days - bankruptcies and the tax avoidance business.
Too bad none of us own stock in those industries!