France's biggest movie star (both figuratively and literally) Gerard Depardieu felt the wrath of the left when he said he was leaving France because of their new higher taxes. He's currently building a home in Russia. The new tax rate for people making over a million a year in France will be 75%. In Russia it's a flat 13% for everyone. Depardieu has been in over 200 films and has paid an estimated 190 million in taxes over his lifetime. But he will pay no more to France. Thanks to his new friend Putin he has been fast tracked for citizenship in Russia.
Well he's just a selfish fat slob! Certainly the other rich celebrities of France understand that a little belt tightening is in order and will sacrifice with the rest of their countrymen to get the economy turned around. What say you Bernard Arnault, Frances richest man? He's currently been denied twice in two months attempting to move to Belgium. I bet Sarkozy has some choice words for these traders! Nicolas Sarkozy and former first lady Carla are attempting to move before nation's new tax rate goes in to effect reads today's headline.
When people try to avoid higher taxes by moving that's looked at by many as unpatriotic. What about if they try to leave their state? Is that unstatesiotic? Phil Mickelson is apologizing today to his fellow Californian's for his statement on Sunday that he was considering moving from his home state because of new state taxes that would put him over 60% total tax burden. "I'm going to have to make some drastic changes. I'm not going to jump the gun and do it right away, but I will be making some drastic changes." Today he says that "finances are a personal issue and I shouldn't have made my thoughts public. I apologize to the people I have upset or insulted".
I disagree with Phil on keeping your thoughts on finances, specifically taxes private. Speaking out is the only way middle class people will learn that rich people actually do move to avoid higher taxes. Although I'm sure there will be plenty of people letting you know they think you're a jerk for considering the move. You'll just have to deal with that Phil.
Phil makes about 60 million a year and certainly could live quite comfortably off of 25 million a year. But he doesn't want to settle for 25 million when he can move to TX or FL and keep 36 million? He makes 11 million more a year for no more work. The people who are insulted that any rich person would move to save money on taxes are probably upset over a line of thinking that follows a progression like this. "The people here supported them and now rich guy has more than all of us and rather than help support those with less, they are going to try and keep all the money for themselves". Of course we have no idea what rich guy or gal does with their money to support charity or anything else. But even if they like to bury their money in the ground, it is their money. The question the offended tax payers aren't asking is "why is another state or country able to offer such drastically lower taxes"? That's a question that leads you to start comparing governments. And if you see one is running efficient and making the most out of every dollar that they take from the tax payer compared with a government who has wasted and in fact plans to continue to waste large sums of tax money, well only a fool would want to give money to a government that wastes it. If you can hire someone to get the same results for $100 as you can for paying someone else $200 does it make you a bad person to want to hire the $100 person?
Voters should see a government's need to raise taxes as a sign that voters need to replace most of the people running their government for 2 reasons. First other governments are able to accomplish as much or more with less revenue. Secondly, the raising of taxes on the rich usually has the opposite effect. Maryland created a millionaire tax and brought in 1.7 billion less a year in revenue and 31,000 residents moved according to CNBC. England created a millionaire tax and brought in 7 billion a year less in taxes after two thirds of their millionaires moved. California and France are the latest to educate their voters on the problems of raising taxes on the rich. Of course if I owned a moving company I would have a lobby firm constantly pestering politicians to raise taxes.