France raises tax on the rich to 75%, now the "RICH" are leaving France by the droves. Who will the French tax, when the "RICH" leaves?
GINGERBREAD
2012/08/08 23:44:07
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Top Opinion
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Sissum71*AFCL* 2012/08/09 00:00:20These liberals, socialists and communists never learn, the more the governmen...+4Margaret Thatcher said it best: ""The problem with socialism is that eventually you run out of other people's money."

















A problem like this WILL occur in America if our leaders think they can just keep raising taxes on people. Sorry but it doesn't work that way. If I learned all of a sudden that I was being targeted to pay 75% taxes, you best believe I'd be taking my rich ass to another country. Probably Canada, or Iceland. Both nice places.
Yay for me I'm American tho, and I'll go down in flames before I leave her!
"At a news conference this morning, Sens. Schumer and Bob Casey, D-Pa., will unveil the “Ex-PATRIOT” – “Expatriation Prevention by Abolishing Tax-Related Incentives for Offshore Tenancy” – Act to respond directly to Saverin’s move, which they dub a “scheme” that would “help him duck up to $67 million in taxes.”
The senators will call Saverin’s move an “outrage” and will outline their plan to re-impose taxes on expatriates like Saverin even after they flee the United States and take up residence in a foreign country. Their proposal would also impose a mandatory 30 percent tax on the capital gains of anybody who renounces their U.S. citizenship."
http://abcnews.go.com/blogs/p...
(On second thought I DO happen to have some Gray Poupon in the fridge, oops and a cup of Yoplait).
France's president wants to tax any income above €1 million ($1.24 million) per year at 75%—but the plan has not yet passed, Only7,000 to 30,000 of France's 65 million people would be paying the tax