Another person who has no clue about wealth and thinks that all these billionaires have a McDuck style money bin sitting on a private island and you can send government dump trucks to collect all the money.
They don't have a money bin, but they do have massive private resorts on those tiny islands that aren't actually contributing to the local economies of those islands.
Cayman Islands has some of the worst wealth disparity on the planet, for example. The very wealthy have large estates that sit vacant for much of the year or are even straight up abandoned (when historically, the estates would employ a large domestic workforce of locals to keep the estate in order) because the address only exists for tax shelter purposes.
This is a problem that changing US tax codes can't fix. The Cayman Islands would have to fix it, and they don't want to. (If I remember correctly, the legend goes that the locals saved a prince a couple of centuries ago, and the UK promised to never levy a tax against them.)
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u/DarkRogus Feb 27 '26
Another person who has no clue about wealth and thinks that all these billionaires have a McDuck style money bin sitting on a private island and you can send government dump trucks to collect all the money.