Thursday, August 09, 2012


In France, the new Social President Francois Hollande is proposing a tax of 75% on all income earned over a million euros a year. This is roughly one and a quarter million U.S. dollars. Among France’s rich elite, this has prompted a discussion of whether or not it would be better to flee the country rather than pay the taxes.
In the United States, the very rich do not flee the country they simply send their money abroad, like Mitt Romney, to avoid their taxes. While that is a specific example of Romney’s tone-deafness, the issue of tax avoidance is a big problem in the United States and other countries wishing to reduce deficit and debt.
Read the rest here.

1 comment:

P J said...

Former Mississippi governor Haley Barbour wrote an amazingly tone deaf op-ed in "Foreign Policy" on August 7th, concerning this very issue:

He recommends his favorite US state for the possible transplantation of the super-wealthy Frogs since they may be about to be burdened in the very near future by those dirty, commie socialists who promised to chop off their financial heads and tax their income at the exorbitant rate of 75%.