Exodus of 10,000 millionaires amid rising Muslim tensions

Discussion in 'Politics, Religion, Social Issues' started by 1458279, Mar 31, 2016.

  1. 1458279 Suspended

    1458279

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    #1
    http://www.ibtimes.co.uk/france-sees-millionaire-exodus-religious-tensions-rise-1552423

    If each of those millionaires were worth just 1 million each, that would be 100 billion dollars leaving France.

    Given France's economic state of emergency, this could be all it takes to bring them down and the terrorist win.

    Hollande says France in state of economic emergency
    http://www.bbc.com/news/business-35343611

    After France, the list of countries ranked by millionaire outflows includes China ranked second, followed by Italy, India, Greece, the Russian Federation, Spain and Brazil in descending order.

    So, 4 of the top 8 to lose the most millionaires are all in Europe.
     
  2. boast macrumors 65816

    boast

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    #2
    I hope they come to America and pay my student loans.

    Make them, Bernie!
     
  3. aaronvan Suspended

    aaronvan

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    #3
    Every West European should have an escape plan. Russia would be a good destination.
     
  4. 1458279 thread starter Suspended

    1458279

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    Strange world when Russia is a good destination.

    Oh, wait, Russia is ranked 6th in the list of places to run from.
     
  5. cfedu macrumors 65816

    cfedu

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    #5
    Israel has had a record amount of french Jews in the past few years. I don't really feel bad for these countries, they are really doing it to themselves. On the bright side, the more Europe ****s up the more North America will be safe. Europe will show us in North Americans exactly what not to do.
     
  6. 1458279 thread starter Suspended

    1458279

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    #6
    The problem with America is that we are very divided on this issue. About 1/2 of us want what's going on in Europe. They think it's something that can be fixed by changing our ways to their ways. This is really the heart of the issue with the GOP. It's a battle for our culture.

    The half that want's to be like Europe calls the other half racist haters and they'll blame any problems in Europe on haters that need to help the world become one.

    For some reason, they'll never stop trying to prove that we are all the same and can get along. They would rather have war than admit that we're different.
     
  7. cfedu macrumors 65816

    cfedu

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    #7
    I will agree that it will still be hard, but once we really see the gravity of the situation in the next 15-30 years, we will wake up. 10 years ago I was a snot nosed regressive leftist (maybe not that bad) and hated christianity. Today I have moved to the centre and now see that there are many poisons worse than Christianity out there. I think we have a chance, unfortunately Europe will be sacrificed for us to open our eyes. Europe might be able to save itself but if they do, it will be a bloody mess. I think Putin will have to assume temporary control of the EU to fix their problems.
     
  8. 1458279 thread starter Suspended

    1458279

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    #8
    What I fear about EU is that the US gets dragged into an extraction war. EU is so mixed right now, there's little hope for fixing it without a really long bloody war that will be a game of dodge the terrorist. With the rich leaving, they won't have an economy to support their journey and the terrorist have a good chance of winning.

    Got to give it to the terrorist, they really played their hand well. They shamed Europe into submission.
     
  9. thewap macrumors demi-god

    thewap

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    #9
    I think we will be seeing the gravity of the EU situation much sooner than 10 years in France, I give it 3 years before all hell breaks loose. But hey, it is the democrat socialist heaven they wanted..

    Next on the list - millionaire exodus of the USA.
     
  10. 1458279 thread starter Suspended

    1458279

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    #10
    I'm not sure where the people from the US would go. I think it'll be more of an economic exodus where they shelter the money and hide out in the rich areas.

    This will probably have to happen anyways because the government is going to be on the hunt for money as more and more people come here for jobs and we can't grow fast enough to create those jobs. More and more people will be displace with automation and the poor will get poorer.

    The rich will focus on unearned income and will find tax shelter outside the US. The US will likely be crushed under it's debt.
     
  11. Bug-Creator macrumors 6502

    Bug-Creator

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    In three years we will see this thread in every dictionary...


    ...... as definition of "circle jerk".
     
  12. thewap macrumors demi-god

    thewap

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    #12

    New Zealand, Iceland, maybe.
     
  13. Eraserhead macrumors G4

    Eraserhead

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    #13
    Probably most of them are leaving Italy, Spain and Greece because they evaded taxes and are now likely to end up in prison.
     
  14. Cox Orange macrumors 68000

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    The funny thing is, that those millionares probably won't be those people exposed to terrorism (and I don't believe we will see hell break loose, like some Americans think), I mean how many millionaires take part in everyday life? How often do they use a metro and go to public places? Half of them probably pocesses their own isle somehow, somewhere, so they can finally live where there money is.

    It would be interesting to know how many millionaires left France in 2012(?) after the tax was raised. (It is also funny, that russia is on th elist, because it seems to be a preferred place for millionaires, because they don't have to suffer the everyday repressions, as long as they don't critizise the state. Also russia needs their money).
     
  15. Bug-Creator macrumors 6502

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    @Cox Orange

    Russia is on the list because Russian millionaires don't trust their goverment even if they aren't political involved.

    If your a foreigner with the money in a Swiss account life in Moscow is probraly still quite o.k.
     
  16. 1458279 thread starter Suspended

    1458279

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    #16
    I have no doubt that some left after the rise in tax rates, but this isn't just France, so it's more than just tax rates. These, also would be people that were ok enough with the tax rate before, and choose to leave now.

    I couldn't agree more about the exclusion of the rich, they don't deal with the day to day things that other deal with. However, this could be seen as pre-emptive in that they expect more to happen and/or don't see a workable solution.

    In the end, them leaving, makes things so much worse. In the US the rich pay the vast majority of the taxes. In California 1/2 the taxes are paid by 1% of the people. That's the upper 1% and millionaires might not be the upper 1%, but that would be the same as a whole lot of middle class people leaving.

    Given their economy, this could be all it takes to crash the system, which is the goal of terrorism.
     
  17. Eraserhead macrumors G4

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    #17
    Where are the rich going to move to?
     
  18. Renzatic Suspended

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    #18
    They're all going to move off to an old oil rig out in the middle of the Pacific. It'll be a tax free utopia, where people can do what they want, when they want, how they want it. They'll call it...

    Randlandia!

    Though on a serious note, I gotta love the logic behind some of these arguments. "Our millionaires and billionaires are angry because our governments are being too hard on them."

    Not that hard, apparently. They're millionaires and billionaires. I mean what's the issue? That slightly higher taxes means they can't afford that 9th house in The Hamptons this year without having to make a couple extra write-offs?
     
  19. Populism macrumors regular

    Populism

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    #19
    And when they return one day, they'll be criticized for causing gentrification.
     
  20. Renzatic Suspended

    Renzatic

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    Hey, just because they white flighted doesn't mean they get to come back whenever someone decides to open up a trendy coffee shop on their old corner. :mad:
     
  21. chown33 macrumors 604

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    #21
    According to the report, the top two migration destinations are Australia and the US.

    There's a link to the report in the article. It's worth reading.


    The 10k millionaires who left France were 3% of the millionaires in France. This means 97% of French millionaires were still in France in 2015. This 3% figure is noted in the article.

    No identifier other than "millionaire" is given in the report, aka a High Net Worth Individual (HNWI). The report doesn't identify where the wealth is, or what the individuals do. A business owner and operator counts the same as a person with inherited wealth who doesn't operate a business.

    The report only counts migrations. It doesn't say that all the owned assets left a country or city. So a French millionaire might move to Australia but continue to own and operate businesses in France.

    Age doesn't appear. Retiring people do things for different reasons than people actively involved in business.

    The report only counts net migrations, not total flow in and out. So if 20k millionaires moved into France and 30k moved out, the net is 10k out, and the 10k number is all that appears in the report. You can't tell what the flows are from the report, just the net change.

    One count in the report isn't net migration:
    London experienced a net inflow of around 500 millionaires in 2015. This was low compared to recent years as a number of millionaires left the city in 2015 (around 3,000 came in and 2,500 left).

    Many of the 2,500 that left moved to other parts of England, mainly to small towns in the London commuter belt along the Thames (such as Maidenhead, Beaconsfield, Bray, Cookham and Marlow). A large number also moved overseas, mainly to English speaking countries such as Australia, Canada, New Zealand and USA.

    Of interest, most of the millionaires that left London were UK born whereas almost all of the millionaires that came into the city were from other countries.​

    The "net inflow of around 500" is below the level of rounding in the report (to nearest 1000). Also, the low net inflow masks the fact that 3000 came in and 2500 left. So the fact is that 3000 millionaires decided to move into London, mostly from outside the UK, not that a paltry 500 decided to move in.
     
  22. thermodynamic Suspended

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    #22
    Colleges shouldn't be fleecing students blood raw to begin with, especially in selling outdated concepts that businesses can't use - since privatization is better and that's what for-profit colleges are, the huge profits shouldn't mean a college can't afford to stay current. Quite the contrary. There are your real leeches, aided by corporations that demand people with higher degree and the great recession was one hell of an impetus, given the total of student loan debt in existence before and after.

    Bernie also plans to reallocate tax money - his own website spells out the details. One could even not wrongly infer that he wants to get rid of corporate welfare (which is against free market principles to begin with, so why the GOP and some Democrats think the gravy needed to continue to go to big wealthy companies, even those that offshore jobs) I'm sorry people are unwilling or unable to read it.
     
  23. 1458279 thread starter Suspended

    1458279

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    #23
    There's a list of the top places they are going to in the OP. Looks like anywhere but Europe, Africa, South America, etc...
     
  24. Eraserhead macrumors G4

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    #24
    So if America raised its taxes where would they move to?
     
  25. Meister Suspended

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    #25
    I couldn't have said it better.

    The world is deeply divided by people who call everyone bigot and racist and just believe and repeat what the MSM tells them and the other half who resists.

    I see no way to reconsiliate the two groups, because there is no common ground.
    If Trump loses we are all doomed.
     

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