To use that often quoted quip by Sam Clemens, “The news of my death has been greatly exaggerated”. I haven’t been around much lately, and while I found a multitude of different excuses (I was very busy in my job… my wife convinced me to build my daughter a tree house… etc.) the truth is that I haven’t been around much because I haven’t had all that much new to say. It’s true that a lot has happened, but it seemed to me that all that could be said about the issue was already being said by someone else. I didn’t really have anything new to add.
So instead I’ve spent the last few weeks quietly going about the process of moving my business out of the United States to a jurisdiction that is friendlier to investment firms and investment advisory work. The Obama administration has made it clear that they think people like me are the problem in America ’s economy, not the solution. So taking them at their word, I’m doing my part for America by going somewhere else. That means that the hiring I’m doing and the facilities I’m renting etc are all going somewhere else too. All the economic growth we generate will be non US economic growth. But the government needs to realize that if they insist on throwing out the baby there is going to be a little loss of bathwater too.
I’ll be moving myself inevitably too - but not immediately, and I won’t be giving up my US citizenship. And since that’s true, I’ll continue to pay taxes on all my personal income earned anywhere in the world. But as my company grows it will be domiciled outside the US so any corporate income that it generates from non-us business will no longer be subject to US taxation. It’s a complicated business in legal terms; more complicated than I’m making it seem. But it’s in complete compliance with US law, and I have excellent advisors on that front helping me navigate the myriad of shoals safely.
So why am I writing this now? Really 2 reasons. The first is that John Derbyshire was generous enough to link my ‘Civil Servant’s Gone Wild” piece in the NRO Corner, so there are a lot of new readers around at the moment. But the second is that I finally have something new to say. And that is that I think the tide is about to turn.
The Obama administration is currently in the process of trying to rush though the last of his plan to nationalize the private sector before his stratospheric approval ratings come crashing back to earth. But the cracks in Obama’s political armor are starting to show. And I think he’s just one political failure away from being chased through the streets by the very same mob that he’s rallied to demonize banking executives, car makers, hedge fund investors, private jet users, bonus recipients, Rush Limbaugh, Glenn Beck, Fox News, and anyone else who opposes him in any way. He sent busses full of protesters to the homes of private citizens, but as soon as he has one slip up, those busses will be heading to Pennsylvania Avenue instead.
Anyway ... I'll be writing a little more in the coming weeks, but for now I thought I'd remind of this piece: "The Problem With America". It's as true as it ever was... we're just at a different point in the curve now.
More Soon.
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