Moving Abroad

Reader comment on: Capital Is Mobile

Submitted by ben (United States), Feb 8, 2010 11:26

Although the same logic of moving states and moving countries may apply, in practice they are far different. Moving from New Jersey to Pennsylvania hardly represents a radical departure in a person's life. One can still watch the same football teams play on tv, visit the same family members for the roughly same amount, eat at the same fast food chains etc. Moving abroad completely changes a person's life. Also, if one is complaining about the high taxes in the US and wants to move abroad, the options are limited. How many countries with a comparable quality of life and comparable job opportunities has a lower tax rate? Nobody. Also, immigration restrictions limit movement as well. Therefore, the US as a whole could raise taxes across the board without having a similar exodus of wealth that New Jersey experienced. This is exactly what we need to do in order to rein in our deficits (once the economy recovers).

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