February 3, 2012

Friday Off-Topic (Moderated) Open Thread (020312)

Filed under: Lucid Links — Tom @ 7:15 am

Rules are here. Possible comment fodder may follow later. Other topics are also fair game.




  1. To be filed under the heading of Hmmmmmm:

    Cameron Fleeing America To Escape Collapse?


    Cameron’s decision fits the trend of wealthy Americans pulling their money out of the country and reinvesting it to buy land in the southern hemisphere, escaping spiraling tax rates and protecting themselves against the potential for widespread social dislocation.
    In 2010, John Malone, billionaire chairman of Liberty Media, announced that he had bought a retreat on the Quebec border as an insurance policy to “have a place to go if things blow up here,” adding that he was concerned about the survival of the dollar and whether or not “America (was) going to make it” through the economic crisis…

    …Growing concern that economic stagnation could lead to widespread civil unrest, allied to crippling tax hikes, is causing many members of the super-rich to abandon the United States in pursuit of more stable countries with friendlier financial conditions for those with wealth. According to the Census Bureau, “The top-earning 1% of US taxpayers are leaving the USA at the highest rate in history.” In addition, a Zogby International poll found that more than 3 million US citizens relocate abroad every year, as record numbers of rich US citizens renounce their citizenship to escape punishing levels of taxation…

    This source tends to border on the level of WND at times but it does bear watching. US citizens are frequently relocating TO and FROM the US, my son just relocated back from South America. The 3 million a year is what? Net migration out of the country or the usual turn over of those going out balancing those coming back?

    A USNews article in 2008 quotes the same 3 million but implies a balance of returning people. If 3 mil were leaving with no return of previous venturers then the population of the country would be shrinking at such a rate and there is no indication by the Census Bureau that such a thing is happening. At any rate, it’s the loss of wealth that is of most concern since it chips away at the investment pool for plant and equipment which is the real driver of the economy, not consumption. With the government heavily competing for investment dollars via their bond sales to sustain their consumption spending they are crowding out wealth producing activities in the private sector. This is why the economy is flat and why there is no real job growth.


    Comment by dscott — February 3, 2012 @ 7:45 am

  2. A net 3 million leaving the country every year seems way high. The phenomenon of capital flight is probably very real, though IIRC government makes getting money out of the country more difficult than you would expect in the land of the free.

    Comment by TBlumer — February 3, 2012 @ 8:49 am

  3. Two interesting points made by Phyllis Schlafly:

    Jan Brewer’s photo with Obama


    …The U.S. Supreme Court has affirmed the power of states to take steps to enforce laws against illegal immigration. The Legal Arizona Workers Act of 2007, which requires Arizona employers to use the internet-based E-Verify system to confirm that a new employee is lawfully in the U.S., was upheld by the Supreme Court last year…

    …In December 2010, Obama’s Homeland Security Secretary Janet Napolitano flew to Mexico City to sign a “trusted traveler” agreement. This allows pre-screened Mexican airline passengers to bypass lengthy airport security checkpoints, a plan for which Mexico’s Interior Ministry Secretary said 84 million Mexicans are expected to qualify.

    I’m curious. Why couldn’t Senator Rand Paul (R-KY) have been labeled a trusted traveler so he also could avoid airport hassle?

    The MSM has been pretty quiet on Obama’s loss to Arizona on the E-Verify issue.

    Why aren’t Congress Criters labeled Trusted Travelers? And yet Mexicans are? What gives? Sounds like the TSA either isn’t doing it’s J-O-B or the Obama regime attempted to intimidate a Congressman via a government agency.

    Comment by dscott — February 3, 2012 @ 12:09 pm

  4. BTW- Arizona is a success story on the illegal immigration front:


    Among the key findings of Recent Demographic Change in Arizona include:

    Arizona’s illegal alien population declined by about 100,000 between 2008 and 2009, or about 18 percent. During that same time span, the rest of the country saw an 8 percent decline in the illegal alien population.

    After a sharp increase in households with annual incomes below $35,000 between 2000 and 2005, the number of such households decreased 5.5 percent by 2009, even as the recession set-in.

    36,700 fewer Limited English Proficient students were enrolled in Arizona schools in 2010, compared with 2005 — a decline of 24.4 percent. As a result, the state saved about $97 million.

    Arizona saw a 14.4 percent decline in violent crime and a 21.4 reduction in property crime between 2005 and 2010 — significantly greater reductions than the nation as a whole.

    Comment by dscott — February 3, 2012 @ 12:13 pm

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