They outsourced industry, because the logic of industrial production is that all costs should be driven as low as possible and much human labor is fungible.
The claim here is that high taxes on earnings will cause capitalists to leave and take the jerbs with them. A different context, and a scenario that fails to consider the existence of domestic competition, capitalists' desire to sell into the most profitable market, preferences about where to live etc.
Yes it is slightly different but we are talking about people who start and run businesses, typically. Unless living here comes with some tremendous benefits that transcend money, they will leave. They generally have little loyalty to their homeland. I wouldn't either, if my homeland wanted to take me for all I'm worth in taxes. Not only would I consider leaving if I had more money, but I know of people who specialize in helping moderately wealthy leave. They cater to people who have a few million dollars and up.
>They outsourced industry, because the logic of industrial production is that all costs should be driven as low as possible and much human labor is fungible.
It's not just industrial production, it's the top jobs that people on this site need. Jobs in software and other kinds of engineering are increasingly under threat. There is some merit to seeking lower costs, and we benefit from that, but it's also possible to paint yourself into a corner from a national security standpoint. My point remains: the same cost-saving motive that drives wealthy people to preserve money in life and business is likely to push them out of the country if we oppress them.
There are many real-life examples of people fleeing for economic reasons. Why is it so easy to believe that day laborers or doctors would flee for greener pastures, but hard to believe that many wealthy business owners wouldn't?
The claim here is that high taxes on earnings will cause capitalists to leave and take the jerbs with them. A different context, and a scenario that fails to consider the existence of domestic competition, capitalists' desire to sell into the most profitable market, preferences about where to live etc.