| SamuelRSmith said: He stated that free education (I assume he's referring to higher education, ie, university) is one of the primary reasons, but didn't provide causation, only correlation. He also excluded what he called "tax havens". Switzerland and Hong Kong. Which I find to be amusing, these countries aren't "tax havens" they're "free market economies". Moreso than the United States. Hong Kong has the freest market in the world. The fact that they have lower taxes is part of what MAKES them free market economies. I don't know about Switzerland, but in Hong Kong (where I'm currently living) all banks have to be fully compliant with CRS and FATCA, so coming here to "avoid" your own country's tax would be a mistake. Hong Kong also happens to have the highest concentration of millionaires in the world. It should also be noted that many free-market economists would say that it is easier to get "richer" in big Government countries than small Government countries. At least by the measure of having $30m+ usd. Simply because Government regulations make it harder for small businesses to compete with larger businesses, thus you end up with the larger companies making even more money than they otherwise would. Take an example he used in this very presentation, the checkout machine. You know how much they cost? $35,000 each, plus additional fees that take the total over $40,000 (and that's before tax) A marginal cost for a large supermarket chain, or enough to put a small shop out of business. |
Um, that's an app, now. It costs dollars with the attachment. I see them in the city all the time.
