... It happened in every country that turned to socialism before the US did...
And socialism has never been more rampant than it is today. EVERY TIME a liberal opens his/her mouth, they attack americans who have investment captial (eg: the wealthy) and they scare more of that capital fleeing offshore...
... captial that we need to grow businesses and employ people in the US.
International and emerging markets mutual funds are growing assets rampantly while US equity mutual funds shrink. Multinational corporations hoard overseas earnings overseas because they don't want to pay US corporate taxes, which are the highest in the world.
I don't particularly care for wealthy people but we need to KEEP THEIR WEALTH HERE and we can't do that with rampant "class envy" in a world where other countries do all they can to attract that capital AWAY from us.
Like Singapore and Hong Kong, which are BOOMING... partly do to inflows of American capital that we need HERE in the US.
Tell me this: When was the last time you heard a liberal politician start a conversation without making the FIRST words out of his/her mouth:
TAX THE RICH!!!
... well, the rich are leaving and they're taking their money and their jobs with them.