The Motley Fool Discussion Boards

Previous Page

Retirement Discussions / Retired Fools


Subject:  Re: Could your retirement survive this? Date:  5/8/2008  2:19 PM
Author:  telegraph Number:  13014 of 22171

"The normal response to taxes on stuff is that you get less of it. When a luxury tax on yachts was enacted a while back, a lot of boat builders went out of business. That sort of thing. "

Yes, most of the US builders went out of business. Those overseas reaped hundreds of millions in new orders as the US became uncompetitive......

I'm sure Obama if elected will convince most of the oil companies to move their HQ overseas and many other ocmpanies who are multi-national to move HQ overseas, maybe to Ireland.

ALready companies are fleeing England in record number since they put in higher and higher corporate taxes..their reveneues in tax colledtions are dropping, but their 'needs' for more money don't allow them to drop corp tax rates....

The latest round of taxes in CA is likely to also convince a lot of people and retirees to flee the state....Ole Arnold needs to raise taxes and 'fees' to get 20% more revenues!...that means at least a 20% increase in tax rates and fees!....lots of tens of billions for CA folks to pay.....

CA cities are going bust. More will. The housing market is going down another 25%....all the cities figured on ever increasing real estate tax collections. It isn't going to happen. But the cities borrowed and spent the money based upon magically ever increaseing revenues....

Copyright 1996-2020 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us