Why Hate Rich People?

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The message could not be clearer: The number of requests by French citizens to leave France are suddenly up by 400 to 500 percent. As far as my business is concerned, we used to have three to five such cases a year, and we are already facing more than 20 this year. We are witnessing an explosive rise in tax exile since April 2012. On a national scale, the number of tax exiles was previously estimated at some 1,000 per year; today, it is expected to multiply by as much as five. It’s like repealing once more the Edict of Nantes, in the sense that these departures will impoverish French business and industry.

Interestingly, the profile of the people now leaving France has completely changed. We still deal with aging entrepreneurs who would like to sell their business and retire without being soaked by the government. But this number is no longer increasing, in particular since the “Exit Tax” was introduced on capital gains (19 percent, plus another 15.5 percent in payroll taxes).

Currently, however, we are seeing a lot of young entrepreneurs, not necessarily wealthy, but who would like to get wealthy and will not hand over their wealth to the government. The hopeful tax exiles are therefore getting younger: today they are aged between 35 and 50, and not between 55 and 70, as was seen before. The granddad fiscal exodus is over!

More disquieting still, they come from all sectors—mainly from the computer industry and the Internet, as these activities are immaterial and easier to move. But there is a bit of everything. They come from all walks of life: consulting, industry, services. The most recent example was a client who provided services to senior citizens. He sold his French business and checked out to move it elsewhere. The motives have also changed. These young entrepreneurs are leaving today to develop their business abroad, as French taxation has become unbearable.

In short, French citizens are not leaving simply to enjoy their retirement in the sun. That is why this phenomenon is disastrous and dramatic for our country. They are leaving to create wealth elsewhere—anywhere other than France. Their prime mover is the desire to create without being plundered. Beyond tax reasons, the overall French climate is deleterious for entrepreneurs, which provides an extra spur to scurry. Some are fed up with being looted by the government, but most of all they are tired of feeling hated and despised by public opinion and the state.

http://www.forbes.com/sites/realspi...er-leaving-france-please-turn-out-the-lights/


When a country significantly raises taxes the rich people leave. Every time. And notice in France it ain't just the old retired guys, it's also the young guys you want to be innovating and creating new businesses. Something we damn well better be aware of and try to avoid.

 

Yes, a handful of people leave but it is LESS than the additional revenue collected. Millionaire taxes simply raise more revenue; point blank.

So the studies I presented to you are just made up or did you flat out ignore them?

Like I said, this is completely false. Millionaires rarely move because of taxes. The biggest factors in millionaire exodus' are home prices, climate, and the quality of services their new place provides. That is why you don't see millionaires moving from California to Texas, despite Rick Perry's propaganda machine.

Stanford and Princeton have studied tax flight EXTENSIVELY, which was illustrated in the links I provided to you. Summary: raising taxes on the rich raises a lot of revenue and results in minimal tax flight.

 

The middle class that leave the North do so because of housing costs, weather, or poor economic prospects, not taxes. Point blank.

It is a (*)(*)(*)(*)ing lie that I'm sick of hearing. Paying 1-3% more of your income per year amounts to a couple grand at most, which is much less than the drop in pay people receive by heading south. Also, don't forget the dozens of minor "fees" southern states have to raise revenue.

The "high tax" states also tend to have superior education and parks, which is why you don't see people fleeing the North like conservatives try to make it seem.

 

Tax them somemore and see what happen's I even read about California having a leaving tax.

 

To be fair Romney was criticized not because of his wealth but because of the fact that he was completely out of touch with the average person. Making 10k bets like it's nothing when the average person lives on only 40k a year makes you seem like you have no idea of the value of money. Then you have the 47% quote which makes him seem as if he doesn't give a (*)(*)(*)(*) about people who are poor. You don't hear people criticizing Bill Gates because Bill Gates isn't running around like a jack ass betting a year of college tuition on a whim and talking about how it's not worth trying to speak to the poor because they believe they're entitled to government benefits because 10k is a real number to them.

Still for the most part it is just jealousy. When you start hearing about "wage theft" and how the rich owe people money because they live in a society then you're getting the jealous. Romney though, he's a rich out of touch jackass and there are plenty of others just like him.

 

Lol you lie.. it is because of taxes see my handle.. a bears fan and I would be there right now the property taxes were not so high.the food down here sucks. Btw

 

I agree . . . just like billionaire John Kerry, obscenely wealthy Joe Biden, and the Clintons and -- gosh -- the Obamas. There's a lot of that going around, eh? Politics at the national level is a GREAT financial scam.

 

And I sure as Hell wasn't going to pay 10 bucks a pack for smoke's see ya.

 

Is that another idle threat?

Like I said, the data proves otherwise. If there is a limit to how much millionaires can be taxed before they leave, California hasn't reached it yet. A millionaire's tax burden in California is 52.9% at the top rate.

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Those property taxes fund the superior school systems in the North, as well as the parks, snow removal, public culture centers, etc. There are no free lunches. You get what you pay for.

 

Couldn't find your links, where are they? I'm always willing to learn something new.

 

Is that why your job's leaving?

And snow removal? Are you serious?
So your damn broke because of global warming?

Try public sector union's/pension' s and the hilarious thing is the retirees took there money and ran to the south.

 

Liberals are so damn funny you couldn't make it up. hilarious

 

Feel free to chime in.

 

Who's job? My company has expanded in NEW YORK. Who woulda thought?

Infrastructure is not a free service, but it is a NECESSARY one. Northern climate is harder on roads, thus more expensive to maintain. Hence, why the gas taxes are higher.

What??? Who's broke?

Texas, the fiscal hallmark of all conservatives for its amazing tax structure.. is actually #3 on the list of most indebted states. Hmmm, all no taxes did was make Texas (*)(*)(*)(*) poor in education and have the HIGHEST rates of uninsured residents in the United States. As I repeat, there are NO FREE LUNCHES.

Pensions are dying out as a whole so that won't be a problem in the future.

 

Yawn...... you do know Detroit is bankrupt and the entire state of Illinois was next. Your liberal excuse's are getting boring

 

I googled your Stanford and Princeton studies; the Stanford one was primarily based on an increase of 1% on income over a million bucks. One freakin' percent? The Princeton study was looking at a 2.6% increase, hell I wouldn't argue about the effect of a tax hike that small. The French were trying to raise their top rate to 75% from 46.7%, you don't think that'll have an impact? And it won't be just a handful either.

 

Duh, that was my point. Millionaire taxes seldom raise more than a few percentage points, but they raise a (*)(*)(*)(*)-ton of revenue.

As for millionaire tax in France, don't forget those heavy hikes are for > $1 million anyway. People seldom earn that much money. Those that do, earn it through unearned income, which is taxed less anyway.

Hence, my point stands. Millionaire tax flight is a myth. It has been debunked countless times so I suggest dropping it. Your argument over millionaire tax flight has no factual evidence.

 

My point stands too, if you're only raising taxes a percent or two, nobody cares much. But at some point the rich guys do care, and they will leave their countries for more tax-friendly locales, to deny that is to deny reality. It happened in Sweden and it's happening right now in France. Are you really going to claim that tax avoidance or evasion is not a problem? To the point where rich people find ways to reduce their tax burden and even renounce their citizenship and sell out, pack up, and move out of the country. I suppose if you can't believe that, fine. But it is what it is, the truth.

Tell you what though, find me a study where the top tax rate was raised by 10% or more along with the evidence that there was no impact on millionaire tax flight. I'm thinking you'll be hard pressed to do so.

 

Two kids play basketball. In first grade the game is easy, in second it get's harder, each year the challenge increases. One kid get's better and better, one does worse and worse.

It's neither right nor wrong. But it is wrong to blame the kid who is succeeding for the failures of his neighbor.



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That point hasn't been reached yet in this country and can go far higher. Once again, show me empirical proof that millionaires are fleeing France. Yes, a handful will flee, but not enough to offeset the increased revenue.

Furthermore, most people who earn $1 million DO NOT REALIZE that income in a year. Millionaire tax brackets are extremely rare. The wealthy usually earn far less than that and have it invested in assets, or are paying taxes on long term capital gains, making their effective rates far lower than the general populace.

You show me data of people who earn over $1 million in earned income in a given year. Don't worry I'll wait.

Even with the millionaire taxes in America, the majority of cases where $1 million brackets went missing in Maryland were a result of people NOT EARNING $1 million the following year. It is incredibly difficult to earn that much money consistently. Those who do usually realize it in the form of long term capital gains.

Millionaire taxes are a VERY GOOD idea and result in minimal tax flight. Like I said, I presented the evidence. The burden of proof is on people making BS claims against it. Fox News, Sean Hannity, and Rush Limbaugh are not credible sources (at least, not as credible as Stanford and Princeton....)

 

You still on this tagent people and bussiness don't leave high taxed states? They are leaving California and the rest of the blue states in droves, just wish the liberals would stay and not try to devouer another state. They are like locust or the alliens from the movie Indepenance day

 

Anyone who supports large tax hikes on rich people simply thinks that someone who has more money is less entitled to his right to keep it; ie they don't like people having much more money than them.

 

Yup they just want to punish them for success while they wasted their life sitting around smoking a bong and figured out they can vote for more free stuff

 

I don't blame rich people. I blame our government for ignoring the income inequality for so long that it got like this. The wealthy people have simply been taking advantage of the system as it is.

 

Why blame anyone except yourself if you think you are poor in America?

You fiance the world's greatest military
Known in world history, you have the greatest health care system in the world , that can be bought prior to Obama care.

It is all in ones mind.